Standing at the threshold of its 25th year, ServeNet held a Meet the Owners event earlier this month that served as a time to "review the group’s history and continued strengths."
ServNet auction owners and executive team met with executives from Bank of America, Hyundai Capital, Consumer Portfolio Services, Lobel Financial, Automotive Information Network, KARS-R-US, and others at an event at the Marconi Automotive Museum in Orange County, Calif.
This museum is home to a $30 million collection of historical, exotic and classic cars.
Commenting on the company’s growth, Charles Nichols, ServNet president and partner in BSCAmerica Auctions, said, "We are pleased to trace tremendous growth in ServNet as a group, and among ServNet auctions individually, since its founding in 1988.
"What began as a cooperative marketing effort involving 10 auctions in 1988 has evolved into a network of the nation's top auctions, now 30 members strong, which sets standards for best practices, builds effective partnerships with auction customers, and facilitates a level of communication that benefits both the member auctions and consignors from coast to coast,” he continued.
At the Owners’ Business Meeting held before the Meet the Owners event in Southern California, Nichols commented on the past year for the company.
"2012 has been an excellent year for ServNet Auctions, which are, in fact, tracking year-over-year sales stronger than the industry as a whole," said Nichols. "I attribute this to the group's entrepreneurial efforts, strong capitalization and premier customer service during a challenging economic period in our industry."
He also went on to note that ServNet’s market share is on the "rise," growing 11 percent over the past 12 months.
Also, the exec shared that employment is up this year at ServNet auctions across the country, with more "'boots on the ground' to offer our customers an unparalleled level of service."
Furthermore, the company has recently made upgrades at auction facilities all over the country.
Recent improvements include new reconditioning facilities at Pittsburgh Independent Auto Auction, Kansas City Independent Auto Auction, DAA of the Rockies and Missouri Auto Auction; a new inspection facility at State Line Auto Auction; an expanded lot at Sparkling City of San Antonio; added lanes at Missouri Auto Auction; and a new facility for specialty sales at Bel Air Auto Auction.
"In 1988, ServNet's aim was to increase the visibility of our independent auctions and to stress the advantages of the personal service we offer," said Nichols.
"We have come a long way since then, as we have responded to the rapidly changing requirements of our industry. ServNet Auction owners have a passion for the work, knowledge and experience that is unmatched and a lifelong commitment to their businesses and the industry. It is their dedication and their vested interest in their auctions that has resulted in success for their businesses, for ServNet, and for the customers we serve,” he concluded.