IAA, a subsidiary of RB Global, has released three enhancements to its selling platform. The product enhancements, IAA Vehicle Score, IAA Vehicle Value and the IAA Sales Decision Center, all work together to provide vehicle sellers with information that is critical in helping to optimize their auction strategies for greater returns.

IAA Vehicle Score is a patented, cutting-edge computer vision tool that promises fast and accurate ratings based on vehicle attributes and photos taken during vehicle check-in, allowing for cost- and time-savings. The automated model uses the latest artificial intelligence (AI) and deep learning techniques to analyze the vehicle's four corner images and provide accurate damage ratings. A score is assigned to the vehicle, giving a quick reference point for the vehicle's damage severity as it moves through the sale process.

IAA Vehicle Value uses the IAA Vehicle Score, plus several other relevant inputs, to deliver precise, unbiased vehicle valuations through machine learning and data mining. The predictive model is built on historical data and specific vehicle attributes, comparing similarly equipped and geographically located vehicles to generate a predicted value range.

Visible within IAA's existing selling environments, the new IAA Sales Decision Center gives sellers stock-level data to enable deeper data-driven decision-making, increases marketplace competition and helps sellers maximize returns. Sellers can use the data within the tool to make better-informed decisions regarding below-reserve sales, negotiations and vehicle reruns.

"Our customers are hungry for information that will add value for their businesses, so we're investing in the tools to help them make informed selling decisions and generate better returns," said Matt Ackley, chief digital officer at RB Global. "We continue to work closely with insurance carriers, dealerships, fleet lease and rental car companies to identify more opportunities like this set of enhancements, where we can implement technology to help automate processes and optimize vehicle selling decisions at scale."

Jeremy Cunningham has been named general manager at Tallahassee Auction, one of two ServNet auctions operated by BSC America. In making the announcement, BSC President R. Charles Nichols noted that Cunningham brings more than twenty years of industry experience to Tallahassee, with skills gained in both the auto auction and fleet/lease/repo arenas.

 “He has a keen understanding of the vehicle remarketing process, great expertise in auction operations, and strong customer relationships developed over his years in the industry. We have every confidence that he’ll manage the auction with a sure hand and will oversee its continued success,” Nichols said.

Cunningham began his auction career in 1998 as a condition report writer before moving on as an auction e-commerce specialist and I/T manager. He spent a decade as fleet/lease operations supervisor before moving to the consignor side of the industry, working as Auction Field Representative for PAR North America, Regional Auction Manager for Exeter Finance and Vehicle Remarketing Senior Associate for Capital One Finance.

“I am excited to step into the role of General Manager at Tallahassee Auto Auction,” said Cunningham. “BSC America is one of the industry’s leaders, and I am honored to be a part of such a strong organization.”

Cunningham joins the team at Tallahassee as the auction embarks on a number of infrastructure upgrades to accommodate current and future growth. Beginning with repaving of large portions of the lot and dealer parking areas, the auction is also planning a major remodel of the offices and restrooms. In the near future, the opening of a fourth auction lane is planned, along with making use of additional properties that surround the auction.

RM Sotheby’s, a private sales expert and auctioneer of premium collectibles, announced it will bring an auction hosted at Sotheby’s global New York headquarters during its December Luxury Week sale series. This fourth iteration of the company’s New York sale will celebrate the cutting edge of automotive design, presenting an expertly curated roster of history’s most iconic automobiles from the world’s most admired marques.

An automotive icon in the world of film and pertinent to the location of the upcoming New York sale is one of the two 1989 Lamborghini Countach 25th Anniversary editions which starred in Martin Scorsese’s 2013 film The Wolf of Wall Street. Sharing the screen with Leonardo DiCaprio, the Bianco Polo over Bianco Countach represented an ultimate acquisition for Jordan Belfort, the film’s real-life financial “Wolf,” as it did for many in the late 1980s. One of the most memorable vehicles in modern film history—having transcended the boundaries of its own automotive legacy and embraced the realm of timeless cinematic artistry—is made rarer still, with only 12 believed to have been made in this specification (Estimate: $1,500,000 - $2,000,000).

After a few weeks of heavy declines across the board, the market appears to be leveling off. This is particularly true for some of the car segments; Full-Size Cars declined a very minimal -0.001%. In sharp contrast, the Full-Size Trucks (-0.64%) reported their largest single week decline since December 2022.

On a volume-weighted basis, the overall Car segment decreased -0.27%. For reference, in the previous week, cars decreased by -0.59%.

The 0-to-2-year-old Car segments were down -0.23% and 8-to16-year-old Cars declined -0.40%.

All nine Car segments decreased last week.

Full-Size (-0.001%), Sporty (-0.02%), and Mid-Size (-0.06%) Car segments all reported stability last week. In sharp contrast, the Compact Car segment had the largest decline at -0.66%. Despite being the largest Car segment decline, it was still less than the prior week’s decline of -0.94%.

The luxury segments also reported smaller declines than seen in recent weeks. For example, Premium Sporty was down -0.02%, compared with -0.24% the week prior and Near Luxury Car was down -0.26%, compared with -0.58% the previous week.

The volume-weighted, overall Truck segment decreased -0.41%, smaller than the prior week’s decrease of -0.50%.

The 0-to-2-year-old Truck segments reported a smaller decline last week (-0.36%), but the 8-to-16-year-olds declined more, depreciating by -0.46%.

All thirteen Truck segments reported a decrease last week.

Compact Luxury Crossovers reported the largest decrease last week, with a decline of -0.85%. This marks the ninth consecutive week of declines for the segment with an average weekly change of -0.74%.

Full-Size Pickups have been declining for eight consecutive weeks, but last week, the segment had the largest single week decline (-0.64%) since December 2022. Over the past eight weeks, the segment has averaged a weekly decline of -0.36%.