Wholesale: Auction News

Wholesale: Auction News (144)

Angelica Rotsart Hughes, Vann Humphrey, Mike Waseity, and Brad Wilson have been honored by NAAA as Warren Young Fellows for their many contributions and their distinguished service to the auto auction industry following their term as president of their respective NAAA chapters.

NAAA honors them with a $2,500 donation each to the NAAA Warren Young Sr. Scholastic Foundation. A Warren Young Fellow is someone who donates, or, in whose honor or memory a contribution is made, in that amount or above. 

Since its establishment in 2004, the Foundation, named in honor of industry pioneer Warren Young Sr., has helped students pursue dreams of higher education as well as assisting individuals in their time of need and providing support to other charitable organizations whose missions align with the Foundation. Scholarships are awarded annually by the Foundation for study at accredited institutions and the Foundation has distributed over $1 million in scholarships since its inception. 

Angelica Rotsart Hughes served as NAAA Eastern Chapter President and is dealer representative at America’s Auto Auction - Boston. 

Vann Humphrey served as NAAA Southern Chapter President and is general manager of Carolina Auto Auction. 

Mike Waseity served as NAAA Midwest Chapter President and is national accounts manager at Akron Auto Auction. 

Brad Wilson served as NAAA Western Chapter President and is general manager of Alliance Auto Auction of Austin. 

NAAA congratulates Hughes, Humphrey, Waseity, and Wilson for earning the lifetime distinction of being named a Warren Young Fellow and for joining this exclusive group of individuals who further the legacy of Warren Young. 

Craig Jackson, chairman and CEO of Barrett-Jackson Auction Company, was recognized with the coveted Carroll Shelby Spirit Award, presented by Carroll Shelby International (CSBI:PK), for his outstanding accomplishments and contributions to the auto industry. Jackson was presented with the prestigious honor during the Team Shelby VIP Experience banquet on Aug. 17, during Monterey Collector Car Week.

“Carroll Shelby believed that victory came from working with talented people who shared a common passion for doing the extraordinary,” said Joe Conway, Co-CEO of Carroll Shelby International and CEO of Shelby American. “The pantheon of influential people who were part of Shelby’s journey is very impressive. Craig Jackson’s achievements certainly earned him the Carroll Shelby Spirit Award alongside past winners.”

Previous Carroll Shelby Spirit Award recipients include Edsel B. Ford II, Ken Miles, Peter Brock, Don Prudhomme, Bob Bondurant, Allen Grant, Parnelli Jones, Jim Farley and Dan Gurney. Jackson will join this distinguished circle with a personal display at the Shelby American Heritage Center in Las Vegas.

As Chairman and CEO of the Barrett-Jackson Auction Company, Jackson has earned a reputation as one of the world’s most respected collector car and restoration experts. As part of Jackson’s vision for the company, in 1994 Barrett-Jackson became the first collector car auction company to offer internet bidding and in 1997, the first to broadcast live television coverage of its events.

“Carroll was my friend and mentor, and he was larger than life,” said Jackson. “The Carroll Shelby Spirit Award carries with it a list of past honorees who are some of the greatest names in motorsports. Being recognized among those who I consider heroes is more than an honor, it truly touches my heart.”

In addition to running a world-class auction company, Jackson’s strong commitment to philanthropy has helped raise over $155 million to date for hundreds of charities worldwide.

The Carroll Shelby Spirit Award was designed to kindle a desire for excellence by recognizing people who demonstrate exuberance, character and tenacity in the auto industry. The award is a stunning bronze statue of a Shelby Cobra designed by sculptor Rick Hadley.

Steve McQueen’s Porsche 917K, the “Hero Car” from the 1971 film “Le Mans” and one of the most recognizable race cars in all of history, will be offered at auction this January 2025 by Mecum Auctions at “The World’s Largest Collector Car Auction in Kissimmee, Fla.

Steve McQueen’s Porsche 917K, the “Hero Car” from the 1971 film Le Mans is unequivocally this exceptional case. It is not only a cinematic icon purchased new by the King of Cool, but also a world-class racing machine.

Defying the typical trajectory of movie cars, McQueen’s Porsche 917K transitioned seamlessly from the film set to the highest echelons of world endurance racing, where it secured multiple victories. This illustrious 917, with a complete and known ownership history, has been owned by legendary Porsche racers in the time since it was purchased and possessed by McQueen himself.

The announcement of the car’s upcoming offering at the Jan. 7-19 Kissimmee 2025 auction was made at Mecum Monterey 2024. Having just emerged from a meticulous restoration, the McQueen Porsche was presented in its 1970 specifications as seen in the 1971 movie “Le Mans” and driven by Steve McQueen.

OPENLANE, an operator of digital marketplaces for wholesale used vehicles, has launched Code Boost IQ, a first-of-its-kind vehicle inspection enhancement that promises faster, better informed decision-making for dealers.

“On-Board Diagnostics II” (OBD2) scans thousands of alphanumeric diagnostic codes that indicate potential mechanical or electrical issues. Code Boost IQ leverages artificial intelligence, the company’s analytics engine and millions of internal data points to translate flagged OBD2 codes into simple, easy-to-understand visual alert banners. Available on every dealer-consigned vehicle in OPENLANE’s US marketplace, Code Boost IQ helps dealers quickly discern which codes are cause for concern and adjust their pricing or purchasing approach accordingly.

“OPENLANE is committed to making wholesale easy with every customer, and Code Boost IQ is just another OPENLANE innovation that’s making our marketplace the smartest, most transparent and most efficient platform for dealers to transact,” said James Coyle, EVP and president, North American marketplaces at OPENLANE. “Code Boost IQ cuts through the complexity of OBD2 codes, increasing signal to noise and highlighting the information dealers need the most. Buyers save time and have more confidence in their wholesale bidding and buying strategy, while sellers benefit from the reduced probability — and potential frustration — of a code-based arbitration.”

Code Boost IQ works by aggregating millions of OBD2 scans captured through OPENLANE’s data-rich service network and following those codes through pre- and post-transaction. Wielding AI and the company’s market-leading technology, Code Boost IQ can then accurately predict which codes indicate the highest probability of issues or repairs, or which may lead to an arbitration. That intelligence is then simplified into color-coded, plain language alert banners that are prominently displayed at the top of each dealer-consigned vehicle condition report to indicate no trouble codes, confirmed trouble codes or high probability of repair needed.

Openlane has unveiled the Automated Absolute Sale, a new tool that empowers U.S. sellers to set a price threshold at the time of listing that, when achieved, immediately moves the vehicle into Absolute Sale mode. The feature increases convenience and velocity for sellers, enabling them to more quickly and easily realize better outcomes.

“We’re on a mission to make wholesale easy, and that starts with purposeful, simple tools to help dealers more efficiently manage their wholesale strategy and inventory,” said Shiv Dutt, SVP and president, U.S. marketplace at OPENLANE. “With Automated Absolute Sale, sellers can ‘set it and forget it.’ They load the vehicle, identify a target price at which they’re committed to selling — and the technology takes care of the rest, helping to seize the optimal buyer demand in real time.”

Introduced earlier this year, Absolute Sale is a new sale format available on all dealer-consigned vehicles in OPENLANE’s U.S. marketplace that enables sellers to signal they are committed to selling a vehicle to the highest offer that day. The sale format — which represents a growing share of OPENLANE’s overall marketplace transactions — boosts buyer visibility and engagement, generating optimal returns for sellers and ensuring both sellers and buyers feel confident in their wholesaling strategy. Automated Absolute Sale builds on the success and momentum of Absolute Sale by enabling sellers to set a threshold trigger for launching a vehicle into Absolute Sale directly at the time of listing.

“In less than four months, we’ve seen widespread and increasing dealer adoption of Absolute Sale. Upon seller activation, the average bid increases by more than $500 per vehicle — demonstrating increased buyer confidence and improved seller outcomes,” Dutt said. “By offering the option to automate it, we’re taking Absolute Sale to the next level and making it easier than ever for customers to benefit from this unique sale format in real time. Both sellers and buyers love the convenience and certainty it offers, and we now see bidding wars on over 25% of Absolute Sale vehicles.”

Kevin Brown, a 20-year industry veteran, returns to the auction industry at the Great Lakes Auto Auction in South Bend, Ind. 

Brown started his career at Missouri Auto Auction in 2000, becoming the general manager in 2003 and a partner in the business in 2007. In 2018, Brown began working with Indiana Auto Auction. He served as managing partner from 2019 through 2022, forming relationships with both national accounts and regional dealerships.

“Kevin has a reputation for growing auctions and I feel honored to have him working with our sales team,” states Chad Anderson, GLAA vice president. “Kevin brings years of experience working at independently owned auto auctions, and we are grateful he will be consulting with us at Great Lakes.” 

After taking some time to complete a real estate development, while continuing a passion of buying and selling classic cars, Brown said he is excited to be returning to the industry and to work with the team at GLAA. 

“I’ve known Chad Anderson and Ryan Clark for years and have seen the success they have had in Rockford,” Brown said. “I’m looking forward to working with the great team at GLAA led by General Manager Heath Phelps as they continue to grow their auction and form relationships with new customers.” 

Jacob Warren has been named vice president and chief operating officer at Central Arkansas Auto Auction. In making the announcement, auction owner Cole Hooten noted that Warren has been involved in the remarketing industry for 20 years, with a strong background in team leadership and auction operations.

“All of us at CAAA are excited to welcome Jacob to our team,” said Hooten, a third-generation auction owner who, with his wife Brooke Hooten, are managing partners of the auction facility. “His energy and enthusiasm for the auction industry are matched by tremendous skill and experience. We are confident that he will make great contributions to our auction as we build and strengthen our team, our relationships with our customers and our operation.”

Warren’s experience in the remarketing industry began in 2004, when he began working for Louisiana’s 1st Choice Auction as an overnight security guard. From there he moved through various positions and departments and rose to the post of vice president and chief operation officer. He worked as that auction’s general manager for two years following its sale to EBlock in 2022. He attended the National Auto Auction Association leadership institute in 2014, and in 2015 he graduated from Advanced Management Leadership Program. Warren most recently graduated from Auction Academy with top honors as class valedictorian, where he also obtained his IARA CAR (Certified Automotive Remarketer) certification in 2018.

“I’ve admired CAAA as one of the strong auctions in the region and am both honored and excited to join forces with the Hooten family as I move in my new role at their auction,” said Warren. “We share a similar vision and know that the key to an auction’s success is a team of people who feel that they are being led, rather than managed. The Hootens know that people are their most valuable asset, and their genuine regard for personal relationships is evident in all that they do. I am looking forward to great things for CAAA as we move forward.”

Hooten reports that Warren joins the CAAA team as it prepares to expand, having recently purchased 15 additional acres and begun construction of a new auction facility. He targets the opening of the new 8-lane auction and office complex for June of 2025, to coincide with the CAAA’s 21st anniversary.

“We’re ready to take CAAA to the next level, and we know that Jacob will help us to do just that,” said Cole Hooten. “All of us at CAAA are pleased to be working with Jacob and look forward to an exciting future.”

McConkey Auction Group celebrated a successful Rock & Roll Sale hosted by DAA Northwest. The event saw a strong turnout of dealers and industry guests from across the United States, with the highlight being a high-energy performance by Sugar Ray. 

DAA Northwest’s Rock & Roll Sale is the signature event of McConkey Auction Group (MAG). This year’s event, held July 17-18, began with a Wednesday morning sale featuring fleet and dealer vehicles. The appetite for consignment was evident as the sale concluded with an impressive 85% conversion rate. 

The excitement continued as guests returned to DAA Northwest on Wednesday evening for a private party and concert. Sugar Ray had the crowd of 2,100 singing along to their ’90s hits and an array of covers. Mark McGrath, the frontman of Sugar Ray, interacted with the crowd, further amplifying the energy.  

On Thursday morning, dealers and the DAA team returned to the lanes for more consignment. In all, 66% of 2,900 vehicles were sold during the two-day event. “We witnessed synergy between the enthusiasm in the lanes and the energy of the concert,” said Collin McConkey, General Manager of DAA Northwest. “The Rock & Roll Sale isn’t just an event – it is a testament to the relationships we have built with our customers and industry friends.”  

Auction Academy’s Class 8 was also part of the festivities. With staff and 33 of its 35 enrollees making the trip to Spokane, the Academy’s presence bore witness to its continued partnership with MAG and the industry. “The Rock & Roll Sale allowed our students to experience one of the auction industry’s premier events,” said Penny Wanna, President of Auction Academy. “The energy and excitement of this legendary event served as a demonstration of the vibrancy of our industry.” 

The Rock & Roll Sale is more than an auction event – it is a celebration of the strength and vitality of the dealer community and a testament to MAG’s commitment to delivering exceptional experiences and service. “It has become synonymous with our brand and culture,” says McConkey. 

Monterey Motorsports Festival will return to the beautiful California peninsula this year with another round of engaging, interactive and cutting-edge exhibitions, displays and more. After a harmonious partnership last year, Mecum Auctions, host of The World’s Largest Collector Car Auction, will once again be a sponsor of the event, specifically sponsoring the classic cars area. The 2024 Motorsports Festival will be held on August 17 from 2 p.m. to 10 p.m. at the Monterey County Fair & Event Center. The event will offer a variety of experiences for automotive enthusiasts and will be open to individuals of all ages and interests with the purchase of a single admission ticket. A portion of the proceeds will be donated to select charitable organizations.

“Sponsoring the Monterey Motorsports Festival again this year was an easy decision, as the event proved its industry relevance and ability to engage, impress and educate attendees at its launch in 2023,” said Dave Magers, the CEO of Mecum Auctions. “The festival offers a fascinating and informative arrangement of activities and exhibits that complement Mecum Monterey and other Car Week events. We are excited to be a part of the Motorsports Festival’s assured continued growth.”

This year’s show will feature 22 acres divided into 15 areas of focus, including an impressive collection of classic and modern cars encompassing rare and exotic models from around the world, with special surprises from the aviation sector. Other areas will include large family fun zones, live entertainment including performances by The Globe of Death Squad in the arena, various live music acts, surprise drive-ins during the event, a kids’ area with bounce houses and interactive games, and more. Food and drink options will also be available for purchase, ensuring a welcoming one-stop shop for anyone who loves cars and the automotive industry. A portion of the proceeds from the festival will be donated to the Boys and Girls Clubs of Monterey, Monterey County Fair Heritage Foundation and the Monterey County Family Justice Center.

Mecum Auctions has been hosting its live-auction event during Monterey Car Week for over 15 years and will bring 600 vehicles and 100 motorcycles to the auction block at the Monterey Hyatt Regency Hotel & Spa on Del Monte Golf Course this August 15-17. 

America's Group announces the acquisition of Corpus Christi Auto Auction, marking another significant footprint in the company's expansion strategy. This acquisition comes on the heels of the recent purchase of San Antonio Auto Auction, signaling a strong growth trajectory for America's Auto Auction for the next 18 months.

Corpus Christi Auto Auction boasts a 20-acre facility complete with a four-lane auction arena, comprehensive reconditioning facilities, and mechanical services. The auction takes place every Friday at 10:00 AM.

"Acquiring Corpus Christi Auto Auction highlights our commitment to growth and excellence," emphasized Chuck Tapp, CEO of America’s Auto Auction. "We are enhancing our service offerings and strengthening our presence in Texas to ensure our clients receive the best in auto remarketing services.”

BA&W Enterprises Ownership Group, the previous owner of Corpus Christi Auto Auction, expressed positive sentiments about the acquisition. They said, "The sale of Corpus Christi Auto Auction to America’s Group is not just a business transaction, but a merging of shared values. We are confident that it will continue to thrive and offer unparalleled service under the America’s brand.”

This acquisition underscores America’s Auto Auction’s ongoing commitment to growth and innovation. By consistently delivering exceptional service and operational excellence to dealers and institutional customers, America's Auto Auction continues to solidify its leadership in the industry.