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Former Auction Owner Dies

Sunday, 19 March 2017 14:26

Former auction owner Ray M. Clanton died March 15.
In 1985, Clanton and his brother, J.C., bought out their family's auto auction, Clanton's Auto Auction. They sold it in 1987.
That auction is now Manheim Darlington.
In lieu of flowers, the family requests that memorials be made to the Darlington Presbyterian Church for the Mozambique Bible Project or the Susan Johnson Memorial Fund at 311 Pearl St., Darlington, SC 29532.

Classic Car Auction Breaks Records

Thursday, 16 March 2017 00:08

GAA Classic Cars closed out its three-day auction March 4, breaking its previous records.
The sale resulted in a 76 percent sell-through rate, revenues in excess of $12 million and a crowd so large that guests had to be shuttled from satellite lots to attend the sale.
There were three record-breaking vehicles sold at the auction:
A 1965 Ford Shelby GT350 for $370,000;
A 2006 Ford GT Heritage Edition with only 41 miles sold for $470,000; and
A red Ford GT with white strips that sold for $300,000.

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Black Book Introduces Used Vehicle Retention Index

Tuesday, 14 March 2017 00:45

Black Book has unveiled the Black Book Used Vehicle Retention Index.
The index is designed to offer an unbiased, accurate view of the strength of used wholesale market values.
The Black Book Used Vehicle Retention Index is calculated using Black Book’s published wholesale average value on two- to six-year-old used vehicles, as a percent of the original typically equipped MSRP.
The index is weighted based on used vehicle registration volume and adjusted for seasonality, vehicle age, mileage, condition, segment mix and inflation.
Aggregated from daily vehicle value updates, and captured throughout hundreds of wholesale physical and online auto auctions across the country, the Black Book Used Vehicle Retention Index represents data across all regions of the U.S. The index is based on a list of vehicles included in the Black Book wholesale database, and includes no bias toward any brand, auction or region, ensuring a more accurate reporting of the used vehicle market.

XLerate Buys Another Auction

Tuesday, 14 March 2017 00:45

The XLerate Group announced the addition of a new member to its auction group with the acquisition of Corry Auto Dealers Exchange (CADE).  
CADE is the XLerate Group’s first Pennsylvania auction.  XLerate Group now operates under 10 auction brands with sales in California, Florida, South Carolina, Michigan, Wisconsin, Texas and Pennsylvania.
XLerate veteran George Pero will run CADE. Pero founded XLerate’s California-based Auctions in Motion sales and relocated to the Erie, Pa., area with his family several years ago.