Wholesale: Auction News

Wholesale: Auction News (129)

The Auction Academy is scheduling a special event this spring to celebrate its latest graduates from the auto auction educational program.

The Academy will hold its Class 8 Graduation Gala in San Diego on March 19 at the San Diego Sheraton Hotel & Marina.

The event will be held in conjunction with the Conference of Automotive Remarketing.

America’s Auto Auction is proud to celebrate the remarkable efforts of its teams nationwide, raising and donating more than $550,000 to support a wide range of charitable causes and community initiatives. Through fundraising events, donations, and volunteer efforts, the company and its 41 individual auctions have supported a wide range of organizations dedicated to helping children, children’s hospitals, military families, healthcare facilities, and educational programs.

"At America’s Auto Auction, we believe that our responsibility extends far beyond the business of auctions," said Chuck Tapp, CEO of America’s Auto Auction. "We are committed to being active, caring members of the communities we serve. The incredible impact we’ve made is a direct result of the unwavering commitment and generosity of our employees, dealers, and partners. Together, we’re creating lasting change in the lives of those who need it most."

One of the company’s most notable achievements was the team at America’s Auto Auction Kansas City raising substantial funds for four local charities: Sheffield Place, Camp Quality of Greater KC, CASA of Jackson County, and Feed Northland Kids. Their efforts included hosting a charity golf tournament, silent auctions, and weekly charity activities during their dedicated charity month in June. Additionally, the generous contributions from dealers such as First Class Auto, DM Northwest, Oakes Auto Group, and Crosslane Wholesale, based on a per-car donation for every vehicle bought or sold, were essential in reaching this remarkable total.

At America’s Auto Auction Clark County, the team made a record-breaking contribution to Childplace Family Services, an organization dedicated to providing critical care and support for children and adolescents in need. This donation stands as the largest single contribution in the history of their partnership, highlighting the team’s commitment to making a meaningful impact in their community.

At the corporate level, America’s Auto Auction demonstrated its commitment to community support by partnering with various organizations, with a significant focus on the Boys & Girls Club. Through sponsorship of multiple events, the company proudly contributed to the Club’s mission of providing resources and opportunities to empower local youth.

America’s Auto Auction also participated in the Up Top Shop event, donating items so children could purchase holiday gifts for just 25 cents, and sponsored a family at the Julian Center by providing clothes, toys, and essentials.

Leveraging Manheim sales and inventory data, estimated wholesale supply ended October at 28 days, up one day from the end of September and flat against October 2023.

Wholesale supply is relatively tighter for this time of year, running three days lower than the longer-term levels for this week. As of Nov. 15, wholesale supply decreased by one day from the end of October, moving to 27 days, down one day versus last year, according to Manheim.

NAAA announced that Abigail Balk has been selected as the inaugural recipient of the Ron Hope Memorial Scholarship for Auction Academy. Balk is marketing/communications manager for Greater Rockford Auto Auction and Great Lakes Auto Auction. The scholarship is for Auction Academy Class 9, which kicks off in February 2025. 

NAAA established the scholarship in October to honor the legacy of Ron Hope, who passed away in June. Hope, who worked in the auto auction industry for over 50 years and founded CARS Recon, was passionate about NAAA and its mission to give back to its members. Throughout his entire career, he was an advocate for NAAA and was a strong supporter of Auction Academy right from the time it was founded more than a decade ago. 

Auction Academy is a two-year continuing career training program designed for auto auction and auto remarketing leaders. Class groups meet quarterly at various locations around the country for in-class presentations, hands-on instruction, auction and/or vendor site visits, and networking sessions (8 sessions total). Virtual sessions (1.5 hours) are held in between the in-person sessions.

Balk joined the GRAA team in December 2016 as marketing coordinator. From the time she started at GRAA, Balk has made an impact by expanding GRAA’s digital marketing reach on multiple social media platforms through use of multimedia, growing and coordinating large promo sales throughout the year, and continuing to evolve GRAA’s marketing strategy to serve its customers and the industry. 

In 2022, after graduating with her master’s in business administration, she was promoted to marketing/communications manager. Since then, she has continued to work to meet customers’ needs and mentor others in her organization. In 2023, she helped establish a partnership with the Automotive Remarketing Alliance (ARA) to host and produce the “Hearing Voices Podcast” with the goal of having a positive impact on the industry and helping others stay up to date on market trends, leadership, safety, education, and more. In 2022, Balk also took on the role of Marketing/Communications Manager at Great Lakes Auto Auction (GLAA). 

“We are so proud that Abbi is the first recipient of the Ron Hope Memorial Scholarship. She is incredibly deserving of this honor,” said Ryan Clark, President of Greater Rockford Auto Auction and Great Lakes Auto Auction. “Abbi has truly taken our marketing to the next level and is always there to take on any projects that come up. It’s been exciting to watch her take on a larger role in the industry through the podcast, and I know she will be a great contributor to her Auction Academy class.”

Barrett-Jackson, the collector car auction announced the 2nd annual “Rock the Block” concert with Sammy Hagar and Friends performing live on Friday, Jan. 17, at WestWorld of Scottsdale.

Tickets go on sale on Friday, Nov. 29, and start at $89 and can be purchased at Barrett-Jackson.com.

“Sammy Hagar is truly one of the most iconic rock stars of our time, and he puts on an unforgettable show” said Craig Jackson, chairman and CEO of Barrett-Jackson. “He is fresh off his world tour and the sale of his 2015 Ferrari LaFerrari at the Scottsdale Fall Auction. I am thrilled to welcome my friend back to kick off an incredible auction week.”

For the last four decades, Sammy Hagar has been one of rock music’s most prolific artists, amassing 25 platinum albums with sales surpassing 50 million worldwide. Last week, the Rock & Roll Hall of Famer announced that “The Best of All Worlds,” his critical and commercial hit summer 2024 tour, will launch in 2025 as “The Best of All Worlds Tour - The Residency” at Dolby Live at Park MGMThe highly anticipated residency will showcase Sammy’s career-spanning hits, from seminal breakouts with Montrose, his iconic solo hits and a deep dive into his tenure with Van Halen, Chickenfoot and everything in between. Sammy has written some of the greatest rock anthems of the era with “I Can’t Drive 55,” “Right Now” and “Why Can’t This Be Love,” and has earned the highest respect of the music industry with a Grammy Award, induction into the Rock & Roll Hall of Fame and a star on the Hollywood Walk of Fame.

Hagar is also a car enthusiast. This past October, the “Red Rocker” joined Barrett-Jackson on the auction block to sell his 2015 Ferrari LaFerrari (Lot #760), which set a world auction record when it sold for $4.675 million.

The 32nd Annual DAA Anniversary Fundraiser and Sale, held Nov. 6-7, brought together DAA Northwest’s dealer community for a week of celebration, charity, and unprecedented turnout. This year’s anniversary gala and fundraiser set a new attendance record, underscoring DAA Northwest’s dedication to supporting the community while delivering an exceptional sale experience the following day. 

The DAA Anniversary Fundraiser has a long tradition of philanthropy dating back to 1997. Since then, DAA Northwest’s charitable mission has expanded to include four local nonprofits: Vanessa Behan, Young Life, Spring of Hope International, and Union Gospel Mission. Altogether, DAA’s fundraising events have raised more than $2 million for community partners over the years.  

“It is incredible to see what this dealer community can do for those in need,” remarked Collin McConkey, General Manager of DAA Northwest: “Thank you again for being part of our 32-year journey. I look forward to all the future holds for us together as a community across the Pacific Northwest.” 

This year’s Anniversary Sale fundraising initiatives raised over $175,000 to be shared between its nonprofit partners. A new addition to the 2024 event was a silent auction, inspired by DAA Seattle’s Helping Hands fundraiser, which included themed gift baskets created by departments across DAA Northwest, DAA Seattle, and MAG Now teams. The silent auction raised $42,000 with DAA Northwest’s corporate match, enhancing the impact for nonprofit partners. The live auction, a highlight of the evening, featured seven curated items sold by DAA’s experienced auctioneers, who introduced each lot with warmth and camaraderie. The live auction brought a powerful close to the night’s giving efforts.  

 “We at Vanessa Behan are incredibly grateful for the leadership, staff and customers of DAA Northwest,” relayed Amy Vega, Executive Director at Vanessa Beehan. “They have supported our children and families for 27 years with over $700,000 going directly to preventing Vanessa’s story (of abuse and loss) from happening to another child.” 

As part of the anniversary celebration, DAA Northwest hosted a robust sale featuring a special “90-Days to Pay” promotion on more than 400 late-model trucks and SUVs, alongside various in-lane and online promotions — clearing a 61% conversion.

DAA Northwest is honored to support its dealer and local communities and remains committed to fostering partnerships that make a meaningful difference. 

ServNet Auction Group, in partnership with Holman Automotive, has raised $36,580 for the United Way where a donation was made for every Holman vehicle sold at a ServNet auction July 1-Sept. 30, 2024.

”We were honored to partner with Holman on a promotion to raise money for United Way,” said Ryan Clark, ServNet President. “Our promotion was prompted by a conversation we had with Jim Jackson this spring about Holman’s 100th anniversary. As Holman is a key long-term partner of ServNet, we thought a great way to celebrate that milestone was to raise money for a charity that is very important to Holman. As family-owned businesses active in our local communities ourselves, we thought giving back to the community of a great partner was the perfect opportunity.”

The posture of service is a longstanding cultural tradition with both ServNet Auctions and Holman, and Holman’s relationship with United Way spans seventy-eight years. “In 1946, Steward Holman joined the Community Chest of Camden County. Over time, that evolved to become the United Way of Greater Philadelphia and Southern New Jersey, and Holman has been invested with them ever since,” said Jim Jackson, North American Remarketing Asset Manager with Holman.

The funds from the campaign will be used toward United Way’s Match Savings Program and United Way’s initiative, Center for Leadership Equity.

“United Way of Greater Philadelphia and Southern New Jersey is so grateful to ServNet for their generous support of our poverty-fighting work. ServNet’s contribution will enrich our region—helping our neighbors buy new homes, providing internet access and digital devices to families, and connecting people facing crises to the support they deserve. We’re achieving remarkable things here at our United Way, and we couldn’t do it without partners like ServNet,” said Fran Gress, director of campaign services for United Way of Greater Philadelphia and Southern New Jersey. 

Barrett-Jackson is gearing up for the ultimate kickoff to 2025 with the annual Scottsdale Auction, January 18-26 at WestWorld of Scottsdale. The annual nine-day automotive lifestyle event has become the season opener for the collector car hobby, featuring a docket filled with the world’s most coveted collectible vehicles and authentic automobilia. The event kicks off with Family Day on Saturday, Jan. 18, where children 12 years old and younger receive free admission with a ticketed adult and continue throughout the week with activities and interactive exhibits for all ages.

“Even before the excitement settled from our successful Scottsdale Fall Auction, our guests were already looking forward to the auction in January,” said Craig Jackson, chairman and CEO of Barrett-Jackson. “We’re deep into preparing for our flagship event and are going full throttle, planning more interactive exhibits, live music and, of course, a docket full of some of the most coveted collectible vehicles in the world. Our Scottsdale Fall Auction was just a taste of what’s coming in January.”

Family Day will include activities from STEM-focused organizations, including Barrett-Jackson’s Gearing Towards the Future initiative, created in conjunction with the SciTech Institute.

Collector cars and authentic automobilia will begin crossing the block on Monday, Jan. 20, and continue through Sunday, Jan. 26. Among the anticipated collectible vehicles are two custom Chevrolet Corvettes: a 1963 Split-Window Coupe and a 1967 convertible, both designed and built by Jeff Hayes. Included in the line of supercars to be offered in January is a rare 2019 Aston Martin Vanquish Zagato Shooting Brake, No. 26 of only 99 built worldwide and one of only 11 in the U.S. 

BSCAmerica's Bel Air Auto Auction moved more than 2,600 vehicles through the auction blocks at its 2024 Harvest Sale, and the auction posted a 70% overall sale.

The auction one of the longest-running promotions in the industry on Oct. 10th:  its Annual Harvest Sale. As the leaves changed from green to gold and the air turned crisp along the Chesapeake Bay, Bel Air Auto Auction welcomed the arrival of autumn, opening its doors to dealers from the Eastern Seaboard and beyond who gathered to buy cars, trucks and SUVs, take part in multiple prize drawings, share in good food and comradery and admire a special consignment of classic cars.

The auction held a gala Preview Party on the evening before the sale, where guests enjoyed a buffet dinner and music, along with the chance to preview some of the classic cars scheduled for auction the following day.  They also tested their driving skills in a race car simulator from Hendrick’s racing, which put them in a NASCAR driver’s seat at Darlington Raceway.

Kicking off the festivities on sale day was a ribbon-cutting ceremony to mark the debut of two new lanes at Bel Air Auto Auction. With the added lanes, the auction now offers vehicles on twelve lanes, adding one more lane for dealer consignments and an additional lane for fleet/lease vehicles. Chosen for the honor of cutting the ribbon to start the sale was Angie Bishop, who recently celebrated 40 years as an employee of Bel Air Auto Auction.

A busy day of buying and selling concluded with a time-honored tradition at Bel Air’s Harvest Sale:  its Classic Car Sale.  This year’s event was marked by the sale of the most expensive car ever sold at Bel Air:  a 2021 McLaren 765LT for $387,000.

Joe Neiman, founder of ACV Auctions, announced the debut of his latest creation, DealerClub, a reputation-based auto auction platform for buying and selling wholesale vehicles. An exclusive marketplace for professionals, DealerClub is built upon the concept that each member puts their reputation on the line and is accountable for the vehicles they sell based on a rating system. This promises a transparent process where members can trust that the vehicles they purchase at auction are accurately represented and backed by the seller’s reputation in the marketplace.

“The dealers behind the cars are the foundation of a great auction experience,” says Neiman. “DealerClub believes in those dealers. It’s about finding better inventory. Buyers and sellers alike are looking for a no-surprises experience. With the seller’s reputation on the line, buyers can be confident the vehicle they bid on is the vehicle they get.”

Features of DealerClub:

Reputation-Based
At a glance, buyers can see how sellers rate across multiple categories including sell-through rate, vehicle inspection accuracy, and their consistency with providing titles. Sellers, meanwhile, benefit from increased bidder confidence in their vehicles as their rating increases, bringing in additional deals at higher values, creating additional selling success, and unlocking further economic incentives.

Better Inventory Experiences
The seller’s reputation is on the line and backed by DealerClub’s proprietary rating system. The result is a more transparent process.

Real-Time Auctions
DealerClub offers flexibility for both buyers and sellers. Sellers can list the car when they want, how they want, and describe the vehicles as they see fit. Buyers get a real-time auction sent straight to them, including pictures, video, personalized vehicle descriptions, seller history and ratings, customizable user profile pages, interactive chat, and seamless title, payment, floorplan, and transportation solutions.

All auction prices on DealerClub start at $0, to maximize bidding engagement.

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