Buzz Cotton has spent a lifetime in the auction industry. After college graduation, he worked with his father, Jimmy Cotton, owner of the former Arena Auto Auction in Chicago.

He went on to become owner of Dyer Auto Auction in 1986, and on Thursday, Dyer announced that Buzz Cotton was transitioning the leadership mantle to his son, Jason Cotton, who becomes owner and auction president as Buzz Cotton retires from the business.

At the same time, the auction said it was opening a new greenfield site, stating that it held the first sale in its new Gary, Ind. facility on Nov. 18.

Dyer Auto Auction, which says it is one of the longest-running auctions in the country, opened in 1947 and has been in its Indiana location since 1977.

Buzz Cotton said he announced the transition to the next generation of family ownership with pride and confidence.

“Jason is devoted to this business and to our customers, and I know that the future holds great promise for the auction with him at the helm,” Cotton said in a news release.

Also on Thursday, the auction announced the appointment of Buzz Cotton’s stepson, Josh Boender, as the auction’s general manager. Boender takes the new position following the October passing of long-time Dyer general manager Mike Dean.

Regarding the new facility, the auction has once again outgrown the current site. The new Chicago-area auction includes a 100,000-square-foot auction building and eight auction lanes. It is located at the crossroads of the three major interstates that service the region. The company says the auction is within easy reach of all points in the Midwest.

“Dyer Auto Auction was built by going the extra mile, and the auction will continue to lead the industry and serve its customers through strong leadership and long-term relationships,” Buzz Cotton said.

Cotton continued, “Looking ahead and planning for the future as an independently owned and family operated auto auction is what kept Dyer above the rest in the Midwest. Transitioning to the next generation in the Cotton family with the values instilled by generations of hard work and experience is part of that plan.”

As for Buzz Cotton, he continued with Arena Auto Auction when Anglo American Auto Auctions purchased it in 1984. At that time, Cotton became director of operations. He remained in that role until he purchased Dyer Auction in 1986, and the company says the auction under his leadership has grown into one of the leading Midwest auctions.  Dyer ran on three lanes with consignments of just 250 vehicles at the time he purchased the facility. The auction added another lane about four months later.  

The company purchased additional land between 1986 and 1989, building a new 44-acre auction facility with eight lanes, reconditioning, pickup and delivery services.  Weekly consignments grew to more than 1,400 vehicles weekly, and the auction began posting what it says were the highest-selling percentages in the region.

Regarding new owner and auction president Jason Cotton, he has worked with his father as Dyer’s fleet/lease manager since 2005. The company noted his deep involvement with the buildout of the auction’s new facility, stating that he oversaw the three-week move leading up to the premier sale in November. 

The new auction, which will be renamed Chicagoland Independent Auction, is set to hold its official grand opening in January.

“As a third-generation auction owner, the auction business runs deep in my veins, as it has my father’s, and I am looking forward to an exciting new chapter for all of us,” Jason Cotton said.

He continued, “I couldn’t have had a better leader and teacher than my dad as I’ve learned about the industry and about the value of the personal relationships and the benefits that an independently-owned auction can offer.”

Regarding the appointment of Boender as general manager, Jason Cotton said Boender brings strong experience and skill to the role.

“Following a long tenure focusing on remarketing technology with Auto Lookout, Josh graduated from the Auction Academy program and joined us at Dyer Auto Auction working with our customers in the fleet/lease department,” Jason Cotton said.

He continued, “He has big shoes to fill in following Mike Dean, who had been such a vital and beloved member of Dyer Auto Auction’s leadership for over 25 years, but I know he’ll honor Mike’s legacy in his new post.  I’m thrilled that Josh is joining me on the auction’s executive team as we move into a new and exciting chapter.”

Dyer Auto Auction says a strong and loyal dealer base has supported the auction, and many of those dealers attended the final sale at the Dyer, Ind. facility, said TPC Management vice president Jiles Wanna.

 “It was a day of mixed emotions for everyone present, as they bid farewell to Buzz in the location where they had done business for so many years and looked ahead to the new site and the next generation of Cotton family ownership,” Wanna said. “Dyer Auto Auction has been one of our firm’s longest standing clients, and we join with their many customers in looking forward to a strong continued relationship with Jason, Josh and the entire team at Chicagoland Independent Auction.”