Auctions

BSC America plans opening for new Bel Air facilities

BEL AIR, Md. - 

BSC America Auction Group said Thursday that its new facilities for the Bel Air Auto Auction in Belcamp, Md., will welcome customers in September following several years of planning and 24 months of construction.

Bel Air’s new 185-acre location will also house BSC America’s corporate headquarters and regional staff, according to the company.

The auction will host its first regular sale at its new facility on Sept. 14. The sale will begin with breakfast in the lanes at 8 a.m., followed by a ribbon-cutting ceremony at 9 a.m.

“The new auction will be able to accommodate continued growth in the marketplace and allow us to serve better our customers’ needs with ease and efficiency in a new state-of-the-art auction facility,” BSC America chief executive officer Raymond Nichols said in a news release.

Bel Air’s new location includes a new 75,000 square foot, 10-lane auction facility and a 50,000 square-foot Vehicle Enhancement Center that includes a mechanical shop, body shop, recon center, paint booths and imaging center.

Before the inaugural sale, BSC America has also planned a series of special events to commemorate Bel Air’s new location.

To give customers an in-depth look at the new site, on Sept. 13, the auction will host a preview and happy hour event from 5 p.m. to 8 p.m. The night will include food, refreshments and facility tours.

“Our objective is to provide large, modern auction facilities centrally located in the Mid-Atlantic Region near Bel Air, Maryland just off I-95 to better serve our sellers and buyers. We will provide a convenient environment for our customers and for our employees”, Michelle Nichols-Neff, vice president of BSC America, said. 

“We’re also excited about our new dealer restaurant, and customer service suites with Wi-Fi provided workstations for customers to use. Those new service facilities will be attractive and convenient for customers.  They will be able to enjoy Bel Air Auto Auction’s delicious fare while attending our regular weekly Thursday auctions and the bi-weekly GM Financial Factory auction,” she said.

Additionally, the auction has planned a two-day grand opening celebration in October that will feature both a GM Financial Closed Sale at 10 a.m. on Oct. 18 and a reception from 5:30 p.m. to 9:30 p.m. that evening.

The following day, on Oct. 19, Bel Air will hold its annual Harvest and Grand Opening Sale, which will include the season’s largest consignment of vehicles and a special Classic Car Event, according to BSC America.

A GM Financial Closed Sale on Sept. 6 will be the final regular sale at the current Bel Air facility in Bel Air, Md., followed by the last regularly held Weekly Consignment Sale on Sept. 7.

In addition to monthly specialty auctions, BSC America said it will continue to host sales at their Edgewood, Md., location on Thursdays at 8 a.m.

“It has taken us many years of planning and a tremendous amount of work on the part of everyone involved in the building and moving process to bring us to this exciting point in our auction’s history. We are enthused to be providing it for our customers and employees,” added Nichols.

Bel Air Auto Auction is the flagship auction of BSC America, which also operates Tallahassee Auto Auction in Tallahassee, Fla.

Note: Edited to correct date of first sale at new location, and locations of Sept. 6 and Sept. 7 sales. 




Dealers continue hunt for clean units

LAWRENCEVILLE, Ga. - 

As both car and truck values softened at a pace similar to what’s been seen during the past month, Black Book’s Anil Goyal and the company’s representatives at the auctions are noticing a clear strategy dealers are using nowadays as they walk the lanes or watch the online sales.

“Dealers continue to remain interested in clean units from auctions to make up for a lower number of good trade-in vehicles,” said Goyal, senior vice president of automotive valuation and analytics, in the latest Black Book Market Insights report.

Looking at the volume-weighted data, editors determined that overall car segment values decreased by 0.45 percent last week, similar to the average weekly decrease of 0.48 percent in values over the previous four weeks.

Black Book indicated that the subcompact car and luxury car segments declined the most by 0.76 percent and 0.71 percent, respectively.

Over on the truck side, the volume-weighted data showed that overall truck segment values — including pickups, SUVs and vans, softened by 0.39 percent a week ago, not far off of the average weekly dip of 0.33 percent in values over the previous four weeks.

Editors pointed out that luxury crossover/SUVs in the midsize, compact and subcompact sizes declined the most among truck segments by 0.73 percent, 0.70 percent and 0.70 percent, respectively.

Turning back to what Black Book’s observers saw at the auction, the anecdotes back up what Goyal assessed about the overall market.

Out of Florida, the story was, “Dealers only buying vehicles to fill holes in their inventory.”

A similar situation played out in Tennessee as Black Blook’s representative said, “A good sale today and a great day for pick-up trucks. There seemed to be more clean vehicles being represented today, which was a welcome change for dealers struggling to get quality trade-ins on their lots.”

Two reports surfaced out of Pennsylvania. The first recap stated, “Attendance was better in the lanes today, but the majority of the sales were via the Internet.” The other one noted, “A lower sold percentage as dealers are anticipating lower prices around the corner.”

Finally, the observations from the lanes wrapped up in Massachusetts where lane watcher said, “Overall, a typical August market here with some expected anxiety preceding another fall season.” 




Podcast: Dan Diedrich of Auction Edge

CARY, N.C. - 

In this episode, AuSM publisher (and conference emcee extraordinaire) Bill Zadeits goes on the road to Nashville.

While in the Music City, Bill chatted with Auction Edge president Dan Diedrich at last week's IARA Summer Remarketing Roundtable. Check out their conversation below.

Download and subscribe to the AuSM Podcast on  or on . 

You can also listen to the latest episode in the window below.

All episodes can be found on our  or by visiting ausm.info/ar-podcast.

Please complete ; we appreciate your back on the show!

 




NAAA names Metro AA Phoenix chapter auction of year in West

FREDERICK, Md. - 

Metro Auto Auction of Phoenix has been named the National Auto Auction Association’s 2017 Western Chapter Auto Auction of the Year for its commitment to supporting community youth.

NAAA said the auction’s notable efforts include hosting an annual Christmas party for seriously ill children and funding a mentorship program for thousands of at-risk Phoenix-area high school students.

The award was established last year to honor the charitable acts that auctions perform each year and to encourage volunteer outreach. The auction will join other chapter finalists competing to win NAAA's 2017 Auto Auction of the Year Award for Excellence in Community Service.

In November, each finalist will be recognized at the NAAA Convention — which is being held in  — with a crystal trophy and a $5,000 prize for a charity of the auction's choice.

The winner receives a large crystal loving cup, a feature story in both NAAA's On The Block magazine and annual Membership Directory, as well as a $20,000 donation to the charity of the auction's choice.

“As part of National Auto Auction Week I’m honored to announce Metro Auto Auction of Phoenix as the representative auction from NAAA’s Western region for Auction of the Year,” NAAA Western Chapter President Michele Noblitt said in a news release. “Our nation’s children are the future of this great country. Metro owners and staff help provide youth and their families in the Phoenix area the ability to heal through Hope Kids and the tools needed to achieve education through Elevate Phoenix.”

In support of Hope Kids, since 2007, Metro has hosted a Christmas party each year for more than 600 children and family members, according to NAAA.

The annual party includes a Santa, gifts, games, crafts, train rides, petting zoo, Disney characters, a holiday dinner and real snow.

Additionally, NAAA said Metro employees have raised over $275,000 to help fund Elevate Phoenix.

Currently, the organization provides 3,400 students in two high schools with an accredited program designed to build both character and life skills.

Elevate Phoenix hires instructors who serve as mentors on a 24/7 basis and teach their students via a leadership curriculum attune to its mission. Students in the program for three years or more have a graduation rate of 91 percent, NAA said.

Other charities Metro currently supports include Best Buddies, Wounded Warriors,The Society of St. Vincent de Paul of Arizona and 2Gether We Live.




Auctions celebrate philanthropy & awards

CARY, N.C. - 

Following its annual Live Charity Auction, Dealers Auto Auction of the Rockies recently announced it raised over $24,000 for an organization working against sex trafficking in its local community, and Capital City Auto Auction announced it has won two annual awards from BB&T for remarketing this year.

As part of the company’s new Month of Giving campaign in June, DAA Rockies chose to help Extended Hands of Hope, which works to provide safe housing and supportive services to domestic sex trafficking survivors.

In June, DAA Rockies held its Live Charity Auction to support Extended Hands of Hope.

The auction said it has supported different local Colorado non-profit organizations for the past six years.

Its annual fundraising event was created as a way to give back to the Colorado community, according to the auction.

DAA Rockies shared it has helped raise over $75,000 to support various Colorado nonprofits since its inaugural charity auction.

Each year, the auction does research to choose a local charitable organization to support.

“Picking a charity is a hard process since there are so many great organizations in Colorado.” DAA Rockies marketing manager Alex Zyla said in a news release. “We try to choose a cause based on suggestions from employees and customers and then look for an organization to support.”

This year, DAA Rockies Month of Giving featured mini fundraising events through out June rather than just one event, as in previous years.

The mini events included a Mystery Car Trunk auction, a live concert event package auction and contests such as Beat a car and put an employee in jail for the day.

“When it came time to discuss our charity auction for 2017, we felt it was time to shake things up. We decided to go with ‘a month of giving’. We had no idea the impact this would have for our chosen charity. Not only did our customers and vendors embrace this concept, our employees really stepped up and showed their imagination and competitiveness amongst departments,”​ said Michele Noblitt, auction executive vice president.​

“​I have said since we started doing charity auctions, our customers have the biggest hearts. Extended Hands of Hope will feel the generosity of everyone for many years to come.” 

Additionally, among departments, DAA Rockies team members also took part in a staircase challenge and a wacky wager contest to help raise funds.

W. Va. auction takes home 2 BB&T awards

Capital City Auto Auction recently announced it has won two annual awards from BB&T for remarketing this year.

Capital City has claimed both Auction of the Year and The Iron Man award, which is a competition that examines auctions’ matrixes such as sales percentage, recovery percentage and black book price comparison.

Capital City Auto Auction recently celebrated its 21st anniversary with a two-day event sale that beat sales records of past years.

On Day 1 of the sale, the auction served free dinner in the lanes as more than 300 dealers bided for 375 Front-Row Ready units and a new inventory from a defunct Toyota, Mazda and Mercedes dealership.

Capital City Auto Auction reached 77 percent sale through on an average sale price of $24,777 on the first day.

The auction had an additional 1,905 vehicles running through 8 lanes on Day 2, which sold at 74 percent.

“Dealers need quality product, and our sales staff did a great job getting the product in for this special event,” Capital City Auto Auction owner Joe Pyle said in a news release.

Additionally, dealers won a total of $21,000 in prizes throughout the two-day sale.

Capital City Auto Auction said it now runs over 1,400 units weekly.




NAAA names chapter auctions of year in Midwest & South

FREDERICK, Md. - 

The National Auto Auction Association recently announced that Clark County Auto Auction and Charleston Auto Auction have both been named Auto Auction of the Year within their respective chapters, following nominations from local school leaders.

The award was established last year to honor the charitable acts auctions perform each year and to encourage volunteer outreach. The two auctions will join other chapter finalists competing to win NAAA's 2017 Auto Auction of the Year Award for Excellence in Community Service.

In November, each finalist will be recognized at the NAAA Convention — which is being held in — with a crystal trophy and a $5,000 prize for a charity of the auction's choice.

The winner receives a large crystal loving cup, a feature story in both NAAA's On The Block magazine and annual Membership Directory, as well as a $20,000 donation to the charity of the auction's choice.

Midwest chapter auction donates $2M real estate

Greater Clark County Schools nominated Clark County Auto Auction, NAAA Midwest Chapter Auto Auction of the Year, following a recent contribution of its property worth more than $2 million.

The auction donated its former 5-acre site and 14,000-square-foot facility to the school system.

The school system named its Mark Fetter Center for Professional Learning after Clark County Auto Auctions late co-founder. Currently, the center has space for training 750 teachers.

"It's with pride that I announce Clark County Auto Auction as the Midwest Chapter's choice for Auto Auction of the Year during our celebration of National Auto Auction Week because they embody the long tradition of our membership's benevolent work and public service," NAAA Midwest chapter president Kristie Goben said in a news release.

Since 1982, the auction has raised more than $2.5 million in support of nonprofit projects, according to NAAA. 

"The compassionate employees who make up Clark County Auto Auction are deeply devoted and enthusiastic to volunteer and make a positive impact in their community each and every day," said Matt Fetter, Clark County Auto Auction president. "From the time we opened our doors, striving to make the world a better place has become our staple, our mission and a large portion of our company DNA."

Southern chapter auction supports homeless teens

Meanwhile, Charleston Auto Auction has been named the NAAA’s 2017 Southern Chapter Auto Auction of the Year following a nomination from the Charleston County School District.

NAAA said the school district nominated the auction for its efforts to help support 21 homeless students at R.B. Stall High School.

"As we celebrate National Auto Auction Week I'm proud to announce Charleston Auto Auction as our candidate for NAAA's Auto Auction of the Year," NAAA Southern chapter president Doug Rodriguez said. "All our entrants deserve recognition for their public service, but none touched us more than Charleston Auto Auction. Their dedication to helping homeless teens, who were couch surfing or sleeping on benches at the mall and had no idea where their next meal would come from, have a safe place to live so they could focus on school was heartwarming."

After seeing a news story on TV about Project H.O.M.E., a proposed project to house several homeless high schoolers with surrogate parents who would provide stability and consistency, Charleston Auto Auction assistant general manager Jason Moritz wanted to help, according to NAAA.

In support of Project H.O.M.E, the auction organized a special month-long sale where it partnered with its dealers to donate a percentage of any vehicle bought or sold to raise money for the construction of a house.

Following the sale, additional fundraising efforts on behalf of the auction garnered more than $26,000 for the project.

Project H.O.M.E now has a goal to begin housing students this fall, according to NAAA.

"They continue to be a driving force behind this project," Project H.O.M.E creator and Charleston County School District secondary education community executive director Kim Wilson. "They've taken an active role in making this home their mission with the auction's General Manager Laura Taylor and Jason joining our board of directors. They also speak to businesses and groups in the community to encourage involvement. It's people like the management and employees at Charleston Auto Auction who see a need and take action that make a difference in this world."

NAAA said other causes the auction supports includes a local food bank, an orphan group, animal shelter and camp program for ill children.




July price movements follow historical trends

McLEAN, Va. - 

Along with looking ahead to how prices might move in August, analysts at J.D. Power Valuation Services determined that July’s wholesale depreciation matched historical trends.

According to the latest issue of Guidelines, analysts reported that the wholesale prices of used vehicles up to 8 years in age fell by 2 percent in July, mirroring what J.D. Power Valuation Services expected to happen. During the past five years, analysts pointed out that July movements regularly have come in at 2.1 percent, leaving the latest development in line with those historical trends.

As a result of July’s reading, the J.D. Power Valuation Services’ Used Vehicle Price Index dipped slightly by 0.7 percent to land at 110.4. What analysts classified in the report as the “consistent chipping away of prices month-over-month” has pushed the index 7.1 percent lower through July as compared to the first seven months of last year.

For reference, the report noted the index reading in July of last year sat at 119.1.

When it comes to what might happen in August, David Paris, executive analyst at J.D. Power Valuation Services, shared the firm’s projection.

“This August, we forecast wholesale prices of vehicles up to 8 years in age to drop about 2.6 percent, which would be the same as August 2016,” Paris said. “For the year, we believe used prices will decline by 6.5 percent, which is 2.5 points worse than 2016’s 4-percent loss.”

The report added that looking even further down the road, J.D. Power Valuation Services is expecting that wholesale prices should decelerate to about 3 percent in 2018.

More details on July price movements

Drilling down into J.D. Power Valuation Services’ data, the report showed car prices moved most significantly when looking at information at the segment level.

“This is a continuation of the now long-running trend where mainstream car losses outpace those of their truck and SUV counterparts,” analysts said.

Three car segments in particular were among the greatest declines in the report as compact cars, midsize cars and large cars softened by 3.4 percent, 3.1 percent and 2.8 percent, respectively.

Analysts pointed out that subcompact car values performed a bit better than that group (declining by 2.2 percent) in part because of tighter supply of these units. The report indicated supply of late-model subcompact cars is off by 8.1 percent year-to-date.

The report went on to mention losses for large utilities were more pronounced in July (down 1.5 percent) versus the same month in 2015 when the value of these units actually ticked up 0.6 percent, and a year ago when losses only registered in at 0.3 percent. Analysts noted what could be impacted this segment is a surge in late-model supply, which is 11.8 percent higher year-to-date.

Also of note, analysts mentioned prices for large pickups remained strong in July as values for units in this segment haven’t fallen more than 1 percent during a single month since last December.




Late-model auction volume down in July, but still up from 2016

CARY, N.C. - 

There was a double-digit slide in the auction volume of late-model vehicles from June to July — but that’s typical for summer, J.D. Power said in a report this week.

And what’s more, late-model auction volume was up more than 7 percent year-to-date through July.

According to the latest Guidelines report from J.D. Power Valuation Services, auction volume was at 208,736 for vehicles 3 years old or newer in July. That was down 16.4 percent month-over-month, a decline that J.D. Power called “common for this time of year.”

In seven months, late-model auction volume has amassed 1.68 million units, compared to 1.57 million in the same time frame of 2016, J.D. Power shared.

Trucks and SUVs are leading the auction volume gains, with luxury compact utility vehicles climbing 55 percent to top the list and midsize pickups jumping 35.7 percent.

The most significant decreases have been among the luxury midsize cars (down 22.6 percent) and large cars (down 12.5 percent).

Cars have a 54 percent share of auction volume, with trucks at 46 percent. J.D. Power points out this is the opposite of new-car sales, where trucks are dominating.

Looking at the overall auction market, sales were up 2 percent in the first half of the year, according to KAR Auction Services and AuctionNet analysis cited by AuSM correspondent Arlena Sawyers in this story.

National Auto Auction Association chief economist Ira Silver is forecasting more than 10 million auction sales this year, which would be a new record, the same story indicates.

 




4 upgrades made to Manheim Market Report

ATLANTA - 

Cox Automotive said Wednesday that its Manheim Market Report has been upgraded with a “sweeping set of enhancements” designed to streamline remarketing and provide more in-depth information.

The four upgrades to Manheim Market Report include:

  • An adjusted, more specific valuation on vehicles that includes AutoGrade condition and exterior color, vehicle mileage and region. Clients are able to generate the Adjusted MMR by manually punching in the car’s condition, color, mileage and region. Starting in September, the mileage/color/condition will pop up automatically, and clients can select the region. The company said the Adjusted MMR brings more accuracy to the valuation and can boost confidence in online transactions.
     
  • OEM build data. Manheim claims the MMR is the first valuation tool to use OEM build data to decode VINs, which it says “eliminates the guesswork in VIN-decoding” and drives accuracy.
     
  • A more intuitive interface with additional data.
     
  • A new Valuations API, which offers the aforementioned OEM build data and on-demand access to Adjusted MMR values.

“Our recent improvements are receiving rave reviews from both buyers and sellers,” Ed Berkowitz, who is vice president of product management for Cox Automotive Inventory Solutions, said in a news release.  

“With richer data, increased accuracy, and a more insightful view, the enhanced MMR experience helps buyers and sellers better understand a particular vehicle’s value and make faster strategic decisions,” he added.

 

 




ADESA names 2 executive sales directors

CARMEL, Ind. - 

ADESA announced Tuesday that it has brought on two new members to join its sales team.

Angela Williams and Kirk Archer have joined the company as executive sales directors.

Williams most recently served as the business development and marketing manager for Rawls Auto Auction in Leesville, S.C.

“Angela brings more than 20 years of auto auction industry experience to the commercial sales team,” ADESA vice president of commercial sales John Combs said in a news release. “Angela brings a wealth of industry knowledge, auction management experience, and previous work alongside intuitional clients to the position. She’ll hit the ground running to help our commercial customers navigate the changes and challenges of our marketplace.”

Williams joined Rawls AA in 1990 as a part-time block clerk and in 1996, she took on a full-time role within the fleet/lease department.

She was later promoted to fleet/lease manager and then assistant general manager in 2005.

Meanwhile, Archer most recently served as director of commercial sales at Insurance Auto Auctions.

“Kirk’s wide-ranging experience at IAA and the relationships he’s developed over the past decade will be valuable assets to our company and our customers,” Combs said. “He brings a unique view of the remarketing landscape across both the whole car and salvage car marketplaces. We’re extremely pleased to have Kirk join our national sales team and look forward to his many contributions.”

Archer joined IAA as an auction coordinator in 2007 and was later promoted to divisional sales manager, according to ADESA.




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