April 30, 2025
Wholesale Latest News (8)
Boxing Great Brings Bugatti to Auction
Staff Writer
September 25, 2024
Barrett-Jackson will roll out some of the world’s most desirable European supercars and exotic collectible vehicles across the block during the 2024 Scottsdale Fall Auction, presented by Gila River Resorts & Casinos, Oct. 10-13 at WestWorld of Scottsdale. Among the most sought-after will be the extremely rare, low-mileage 2018 Bugatti Chiron offered on behalf of the undisputed Super Middleweight boxing champion of the world, Saul “Canelo” Alvarez.
Bidders will also have the chance to own Rock & Roll Hall of Famer Sammy Hagar’s one-of-one custom 2015 Ferrari LaFerrari (that is set to cross the block on Saturday, Oct. 12.
“We have an impressive group of stunning European late-model supercars lined up for this year’s Scottsdale Fall Auction,” said Craig Jackson, chairman and CEO of Barrett-Jackson. “Many look to European car manufacturers like Bugatti, Ferrari and Lamborghini for their refined approach to integrating sophisticated performance with luxury design. The supercars and exotics we consigned for our October auction are some of the best representations of the most revered marques. When you add celebrity ownership like Canelo Alvarez and Sammy Hagar to their provenance, these vehicles become even more desirable to collectors.”
One of only 500 produced worldwide, the 2018 Bugatti Chiron was driven only 1,610 miles. It is powered by an 8.0-liter quad-turbocharged W16 engine producing 1,479 horsepower and capable of accelerating from 0-60 mph in less than 2.5 seconds, reaching a top speed of 261 mph. The Chiron is finished in Lake Blue, French Racing Blue and carbon fiber, and features Comfort seats and a leather/carbon interior option.
Legendary “Star Trek” actor William Shatner, is also bringing a European favorite to the fall auction, his 2016 Jaguar F-Type R convertible (Lot #348) with 8,025 miles on the odometer. Autographed by the actor, the all-wheel-drive convertible is finished in Polar White over a black interior with red leather.
Heavy Equipment Auction Opens in California
Staff Writer
September 23, 2024
Bar None Auction, the premier auctioneer of the West Coast, is proud to announce the opening of a new auction location in Fontana, Calif.
Bar None Auction specializes in Monthly Public Heavy Equipment auctions throughout the Western United States.
The new Fontana auction site is located at 10375 Beech Avenue off Highway 10. This facility has a newly remodeled office, detail and reconditioning shop, and ample outdoor storage to sell 1,000’s of heavy equipment and commercial truck assets each month. “The new location will service all the major equipment rental companies, contractors, equipment and commercial truck dealers, and government agencies in Southern California,” said Josh Seidel, Owner of Bar None Auction. “We’ve been servicing these customers from afar, but with our new Fontana location we can better serve our Southern California buyers and sellers.”
Bar None Auction also sells a large amount of Government surplus directly from the State of California. Items sold by the State vary from road maintenance equipment, large fleet and commercial trucks, passengers vehicles, trailers, and more. These items are sold to the highest bidder regardless of price.
Bar None Auction will conduct its first public auction in Fontana on October the 4th. This auction will be a multimillion-dollar sale with over 600 items ranging from Motor Graders, Backhoes, Skid Steers, Excavators, Transport and commercial Trucks, Contractor Work Trucks, Passenger Vehicles, and more. The first item will be sold at 8:30 am in the morning and will continue until every item has been sold.
Wholesale Used Prices Dip in September
Staff Writer
September 19, 2024
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 0.2% from August in the first 15 days of September.
The mid-month Manheim Used Vehicle Value Index decreased to 203.6, down 5.0% from the full month of September 2023. The seasonal adjustment softened the results. The non-adjusted price change in the first half of September rose 0.2% compared to August, while the unadjusted price was down 4.6% year over year. The average change for the month of September is an increase of two-tenths of a point for seasonally adjusted values, so the current measure is below trend for the early read of the month.
“It’s normal for seasonally adjusted values to cool a bit in the first half of September as results include the impact from the Labor Day holiday week, which has a lingering effect on the industry over a few weeks,” said Jeremy Robb, senior director of Economic and Insights at Cox Automotive. “We typically see non-seasonally adjusted values decline for the full month of September, yet they are currently higher by two-tenths of a point even through the holiday period. This suggests we are currently continuing to see lower than normal depreciation trends in the wholesale industry.”
Over the last two weeks, the Manheim Market Report (MMR) prices in the Three-Year-Old Index declined an aggregate of 0.4%, which was less than the typical normal decline of 0.7% observed at this time of year. Over the first 15 days of September, MMR Retention, the average difference in price relative to current MMR, averaged 98.8%, indicating that valuation models are slightly further away from market prices early in September. MMR retention is down one-tenth of a point compared to the prior year at the beginning of September, and it is in line with the last two years.
The average daily sales conversion rate of 61.3% in the first half of the month was above the September 2019 daily average of 55.3%, yet it has moved a bit lower the last two weeks, seasonally normal with the Labor Day holiday. The conversion rate has declined one and a half points from August 2024, indicating that buying demand has declined over the last two weeks, much of which is driven by the holiday period.
BSC America Announces Promotions
Staff Writer
September 18, 2024
BSC America has promoted two key associates at its Bel Air Auto Auction location. Ken Hartman, previously working as the facility’s lot operations manager, has been named Director of Operations. Steve Patrylow, who was acting as the New Jersey Sales Representative, has been promoted to the post of Dealer Sales Manager.
A graduate of Towson State University with a degree in Finance, Hartman spent 25 years in the construction surety industry and four years as a restauranteur before joining Bel Air’s operations team in 2015. After a year as the auction’s Drive Team Supervisor, he was promoted to Lot Operations Manager.
“My motto has always been to ‘bring the passion’ to work, knowing that good things are bound to happen,” said Hartman. “That motto has served me well at Bel Air Auto Auction, which is owned by one of the best families in the business, who demonstrate a passion for their business, dedication to their customers, and devotion to the industry. I am privileged to be a part of it and am excited to take on the new responsibilities as Lot Operations Manager.”
Patrylow began his career in the automotive business when just a teenager, when he learned to detail cars professionally. He continued car detailing as he worked his way through college at Kean University in New Jersey. Upon graduation, he worked for one of the largest auto wholesalers in New Jersey, where for 18 years he was involved in purchasing, selling and managing all shops and operations. Patrylow then applied his skills to the auction industry, spending 17 years as an auction Dealer Services Manager. Those many years of experience suited him well for his move to Bel Air Auto Auction in February of 2023.
“What I truly enjoy is helping dealers succeed and grow, and I get to do just that at one of the best auction facilities in the country,” said Patrylow.
Coinciding with the employee promotions at Bel Air Auto Auction, BSC America announced that they will add two more lanes to its sale-day lineup. The auction will offer vehicles on a total of twelve lanes, adding one more lane for dealer consignments and an additional lane for fleet/lease vehicles. The lanes will begin at 9 & 9:15 am and will make their debut on October 10th at Bel Air Auto Auction’s Annual Harvest Sale.
First 2025 Escalade IQ Goes to Auction for Charity
Staff Writer
September 15, 2024
This October, Barrett-Jackson will continue its 50-plus year legacy of philanthropy by auctioning the first retail production all-electric 2025 Cadillac Escalade IQ, VIN 001, with 100 percent of the hammer price benefiting the Detroit Children’s Fund.
The sale will be part of the 2024 Scottsdale Fall Auction, presented by Gila River Resorts & Casinos, Oct. 10-13 at WestWorld of Scottsdale. The vehicle, donated by Cadillac, is the brand’s first all-electric, full-size SUV.
“We’re honored that Cadillac is bringing the sale of their first retail production ESCALADE IQ to Barrett-Jackson,” said Craig Jackson, chairman and CEO of Barrett-Jackson. “This is a tremendous opportunity for someone to own an incredible piece of automotive history. We are proud that 100 percent of the proceeds from the sale of this vehicle will support children’s education throughout Detroit.”
Escalade has dominated the luxury full-size SUV segment for 10 years. Now, Cadillac is raising the standard with ESCALADE IQ. The ESCALADE IQ is built on GM’s innovative and modular EV propulsion architecture, linked to a dual-motor all-wheel-drive setup that delivers more than 200 kWh and a Cadillac-estimated range of 460 miles. It boasts a Cadillac-estimated 750 horsepower and 785 lb.-ft of torque when using the Velocity Max driver mode, for a 0-to-60 mph time of under 5 seconds (Cadillac estimate). It features standard Super Cruise hands-free driver assistance technology with three years of the OnStar Super Cruise plan4.
“The 2025 Cadillac ESCALADE IQ redefines what a luxury SUV can be,” said GM President Mark Reuss. “It brings iconic design, the utmost craftsmanship and the latest technology. We’re excited to work with Barrett-Jackson on the auction of ESCALADE IQ VIN 001, with every dollar of the proceeds going to the Detroit Children’s Fund.”
The entire sale price will benefit the Detroit Children’s Fund, a nonprofit organization dedicated to ensuring Detroit children receive a quality education. Barrett-Jackson has raised more than $155 million for charitable causes over the past 53 years.
Feds Sue Towing Firm
Staff Writer
August 26, 2024
The Justice Department has filed a lawsuit against Tony’s Auto Center Inc., doing business as Tony’s Auto Center, in Chula Vista, Calif., alleging that it illegally auctioned off a deployed U.S. Navy lieutenant’s car, in violation of the Servicemembers Civil Relief Act (SCRA). The SCRA prohibits a towing company from auctioning off a vehicle owned by a servicemember unless it first obtains an order from a court allowing it to do so.
“When towing companies ignore their legal obligations, it can have serious financial consequences for servicemembers,” said Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division. “We hope that bringing this case encourages other towing companies to review and improve their policies and ensure that the rights of all servicemembers are honored and respected.”
The department’s lawsuit alleges that Tony’s Auto Center illegally auctioned the lieutenant’s 2011 Mazda 6 while he was deployed at sea aboard the USS Bunker Hill. Prior to deployment, the lieutenant placed some personal belongings in his car and parked it in front of a friend’s house. While the lieutenant was at sea, Chula Vista Police Department impounded the car due to an expired registration, and Tony’s Auto Center towed the car to its facility. About two months later, Tony’s Auto Center, through its agent, sold the lieutenant’s car at auction without obtaining a court order authorizing the sale.
According to the complaint, in March 2023, the lieutenant returned home from deployment to find that his car had been towed. He then contacted Tony’s Auto and learned that they had sold his car. Even though he no longer had the car, he had to continue making his monthly car loan payments to Navy Federal Credit Union, which totaled over $2,500.
America’s Group Acquires Another Auction
Staff Writer
August 26, 2024
America’s Group, the parent company of America’s Auto Auction and AXLE Funding, has acquired Z66 Tulsa Auto Auction. This development marks the fourth major acquisition by America’s Group in recent months, reinforcing its position as a leader in the auction and remarketing industry.
Z66 Tulsa Auto Auction, based in Oklahoma, operates from a 29-acre facility featuring a 7-lane auction arena, state-of-the-art reconditioning facilities, and mechanical services. The auction is conducted twice a week, every Wednesday at noon and Friday at 11 a.m.
Chuck Tapp, CEO of America’s Auto Auction, commented on the acquisition: “The addition of Z66 Tulsa to our portfolio not only expands our inventory offering but significantly strengthens our presence in Oklahoma. This move underscores our commitment to delivering unparalleled auto remarketing services to our clients, ensuring they receive the highest level of service and support.”
The move also marks a new chapter for Z66 Tulsa Auto Auction. Dr. Robert Zoellner, the former owner of Z66 Tulsa Auto Auction, expressed his confidence and gratitude, “After 11 successful years, I am proud to entrust Z66 to America’s Auto Auction. I am confident that they will continue our legacy of caring for our employees and customers. I extend my heartfelt thanks to everyone who contributed to making Z66 the success it is today.”
ServNet Celebrates Industry Awards
Staff Writer
May 04, 2023
ServNet auctions have again emerged as some of the country’s top performers in the remarketing community. In assessing auction results for 2022, national remarketers recognized ServNet auctions in both national and regional standings, with scores based on operations, customer service, retentions, and leadership.
”ServNet auctions are consistently recognized in the auction industry for the exceptional level of service offered to their customers,” said Chris Angelicchio, ServNet’s Executive Director. “As national remarketers tallied their results for 2022, ServNet auctions once again emerged as leaders among their industry partners, evidence that ServNet auctions continue to perform at the highest standards, providing consistent, outstanding results for their customers.”
For the second year in a row, Bel Air Auto Auction was named Retail Auction of the Year in the Northeast Region by Santander Consumer USA.
Merchants Fleet recognized three ServNet Auctions for superior service in 2022. For the third year running, North Bay Auto Auction was singled out as the fleet company’s top overall auction in the country. Leading for Merchants Fleet in their regions were Indiana Auto Auction (Midwest Region) and Bel Air Auto Auction (Mid-Atlantic Region).
For the 10th year in a row and the 12th time overall Missouri Auto Auction was named Regional Auction of the Year for Holman (previously ARI). This year Missouri Auto Auction was joined by DAA Seattle on the Holman award podium, also receiving the 2022 Auction of the Year in its region.
Three ServNet auctions were cited by Exeter for their performance in 2022. Carolina Auto Auction and DAA Seattle were among the best for Exeter, leading their regions for the remarketer in 2022. Both received the Exeter Auction eXcellence Award. In addition, Akron Auto Auction was named Exeter’s Most Improved Auction for 2022.
Remarketing by Element cited two ServNet auctions in 2022, naming Indiana Auto Auction its Truck Sale of the Year and recognizing DAA Northwest with its Above and Beyond Award for the Western Region. DAA Seattle received Ford Credit’s ASAP Award for 2022.
“These industry honors are part of a tradition of excellence that has characterized ServNet auctions for decades,” Angelicchio concludes. ”ServNet auctions share a determination to offer the best auction experience for its customers, and that determination is evidenced by consistent, superior award-winning performance.”
