Auctions

New roles for KAR leaders Polak, Richer & Coleman

CARMEL, Ind.  - 

Following the company purchasing the remaining interest in TradeRev, KAR Auction Services ironed out a few leadership updates on Wednesday.

Becca Polak, who had been KAR’s executive vice president, general counsel and corporate secretary the past decade, is now the president of TradeRev.

She also earned a promotion to the role of chief legal officer and secretary for KAR. In that role, Polak will remain the head of KAR’s enterprise legal and corporate communications functions.

“I am thrilled to see Becca Polak at the helm of TradeRev — one of our most technologically advanced and fastest growing business units,” KAR chairman and chief executive officer Jim Hallett said in a news release. “I am confident she will accelerate the evolution of TradeRev and help lead the digital transformation of our company and our industry.”

Meanwhile, KAR has promoted Chuck Coleman from assistant general counsel to general counsel; Coleman will retain his posts as vice president and assistant secretary.  He has been with the company since 2015.

Additionally, KAR senior vice president of corporate communications Tobin Richer is also taking on responsibilities as TradeRev’s chief marketing officer.  He will report to Polak in both roles, and has been with the company since 2016.

“KAR is well positioned for growth, and has the leadership bench strength to make sure we capture the many opportunities ahead,” said Polak, “Chuck and Tobin quickly established themselves as leaders in protecting and promoting KAR’s brands and supporting our diverse businesses units. It is great to see internal talent continue to grow at KAR, and I am very pleased to see them take on additional responsibilities.”

 


COMMENTARY: Physical auto auctions change for better

CARY, N.C.  - 

The first thing you might have noticed at Manheim Atlanta earlier this year was a countdown and buttons worn by employees that notified sale attendees that “a change is coming.”

That change they were specifically referring to was Manheim’s investment in a widespread technology update and redesign of some of its auction processes, a change the company called its largest ever.

But that “change” could also describe the broader approach by the auto auction industry as a whole to become more efficient and technologically swifter at its brick-and-mortar locations.

That’s evident everywhere from Atlanta to Chicago, North Carolina to Arizona and all points in between, as changing ways of buying and selling wholesale vehicles are met by an evolving industry striving to adapt.

That includes a Manheim mobile auction in Wilmington, N.C., transitioning to a permanent, two-lane location and a new Bel Air Auto Auction site that Ray Nichols, chief executive of parent company BSC America, says “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 state of the art auction facility.”

East and west, corporate and independent — change is here in the auction business.

More efficient, leaner ops at Manheim

As of late September, more than half of Manheim’s auctions (including Manheim Atlanta) had been upgraded with the aforementioned enhancements, which include, for instance, centralized technology that would allow the administrative office at this Atlanta-area auction to complete title work for the Orlando location.

What you might notice is missing from Manheim Atlanta on sale days, by the way, are the long lines, says assistant general manager Chris Hill. 

When you walk in the door at the auction, to the front left is a bank of computers known as a “Hub.”

A “hotbed” on sale day, Hill said these computer stations allow dealers to complete tasks they would have otherwise had to stand in line at the front desk to complete.

Things like making payments, printing gate passes or ordering ancillary services post-sale inspection — dealers can take care of these tasks on their own at the bank of computers.

“They can immediately come in here, and do what they need to do and get out of here,” Hill said in a late-September interview at the College Park, Ga., auction.

With the auction being what’s known as an “enhanced location,” the line at the administrative desk is reduced, because so many more clients are doing some of the admin type tasks on their own.

“They never had this conduit into our system by which to get information out. They always depended on us via phone call, via standing in an arduous line,” Hill said. “We don’t want you to leave here, but we know you’ve got a business to run or a family to see or both.”

Another piece of efficiency you might notice at Manheim Atlanta is what’s known as Lean Daily Management. It’s a concept founded by Toyota as a manufacturing improvement, but adopted by other business sectors, including the likes of the New England Patriots.

And starting last year, Manheim began rolling it out to its locations.

“As we were looking at new technologies for driving efficiencies for our clients throughout the auction locations, we also, at the same time, realized it’s not just the technology,” said Grace Huang, president of Cox Automotive Inventory Solutions, in an interview at Manheim Atlanta.

“Technology in and of itself is great, but you have to have the processes and the foundational pieces to underpin it, to really maximize technology and technology investments to really bring it to life for our clients.”

Manheim had a team look into how the LDM concept could be incorporated into auctions, “and we followed the same tenets about measurement and metrics, and looking at each of the processes, working together collaboratively across departments to identify potential road blocks,” Huang said.

In a conference room at the auction, there is a whiteboard — known as a “measurement board” — that shows each individual department displayed horizontally, with various metrics (including safety, quality, delivery, cost and engagement) displayed vertically.

Each square has a score, highlighted in green for metric goals that were reached and red for those that were not reached.

Each department has a 10-minute standup meeting for to discuss their own metric and the auction as a whole has a “set the standards meeting” where all departments meet to discuss roadblocks and pitch project that can solve the “rocks” that might be hindering the system.

“It has brought all the departments together in a much more collaborative fashion,” Huang said.

And it has fostered an approach to thinking of the auction as one system, rather than silos.

Opening day in Chicago: ADESA builds on safety & tech  

In March, I had the chance to check out the new digs of ADESA Chicago during its grand opening event

On the left side of the arena (from the entrance) were doors to the outside that can be opened and closed as necessary.

Exhaust fans were there to keep the air fresh even if the doors were shut. These doors fed into the auction lanes.

At the opposite end were gateways to a space that were still under the roof of the facility, but fed out to the back of the facility.

From entry-to-exit, the vehicle essentially would travel in a backward J route. This is designed to avoid the “wind-tunnel effect,” said Kurt Madvig, ADESA’s vice president of auction operations, during the on-site interview in March.

In the lanes themselves, near the blocks were digital displays with lights, announcements and other bits of information. The point, Madvig said, was to make sure that the dealer in the lane — whether he or she is tech-savvy or not — has the same easy access to information to the person bidding online, simply by looking at the screens.

“It helps transition from the old paper days to digital,” Madvig said.

Yellow pylons line the lanes, designed for safety. These steel tubes were filled with concrete, with plastic outer covers and went four feet into the ground, Madvig said.

Should a car go off course, this helps to keep it contained within the lane.

Another unique part of the facilities: the cafeteria and Internet center were smack dab in the middle of the arena, allowing the dealer to “feel like this is the only place they need to be” during the sale, Madvig said.

The bright teal floors consisted of an epoxy surface with grit, which were designed to make them anti-slip with all the weather Chicagoland can get, be it rain, snow or ice.

Speaking of weather, the exterior is prepared for weather: besides the area out front, the entire facility utilizes rolled concrete instead of asphalt.

ADESA Chicago employees were equipped with mobile printers, vehicle stickers with bar codes and folks using mobile phone apps to conduct business.  All of this with the intention of making the customer’s day quicker and more efficient at the auction.

The future?

So what does the design of an auction look like years from now? Perhaps Bob Wolfsen’s Auto Auction In The Round concept — which has earned a patent from the United States government — gives us a hint. 

Walk into most auto auctions today and the arena where the sales happen has a familiar appearance: rectangular with long lanes that extend from one side to the other.

Wolfsen’s design shakes that up, making the arena — as the name would imply — round.

Each selling arena in Wolfsen’s design is a circular pod that includes anywhere from eight to 12 lanes, he said in an interview with AuSM earlier this year.

The vehicles enter and exit behind each auction block. They come into the pod and go around to the front of the block, going 180 degrees before exiting out behind the block.

To get to the pods, attendees can walk from the office down a “tube” hallway and then select one of the pods to enter, he explained.

The patent was approved on March 23, Auto Auction In The Round is now operational, and the official patent number is 9,691,100. 

Wolfsen, whose company is based Chandler, Ariz., is the transportation manager at Metro Auto Auction in Phoenix.  

Asked what prompted the idea, he said: “It started when I helped put another auction together here in Phoenix — Dealers (Auto Auction of the Southwest),” he said.

Wolfsen and the team there shaped the auction blocks into a V-shape, he said, “so that the dealers could see all the cars at all the blocks from any position.

“I wish I could take credit for that but I can’t,” he said. “But it started me thinking about, ‘How do I close the V to make a circular pattern?’”

But closing the V would result in bunched-up traffic, he said: “It would be six lanes ing into a three-lane area. So that’s when I started thinking about the circle, and coming in from the outside of the circle, around the front of the blocks, and then back out behind the block.

“And I actually laid it out over there — this was, gosh, almost 14 years ago now — in paper and drawing it out on the floor. It was an empty building. It made sense. So that started the thought process”

The design was based on what dealers had told him over the years.

“And it boils down to, ‘I missed some opportunities. I wish I had the ability to be in that other lane at a point because I really needed that car,’” Wolfsen said. “I hear this more and more. I hear it every week here. On the seller’s side, (they’re) never happy with the lanes. ‘Oh it’s too far away from the door. It’s too close to the end of the building.’

“There’s always a reason. And the third item is that, ‘I’m not happy with my numbers. I want to run in prime time and I want to run in the meat of the sale, and I want to run in 30 to 60,’ or whatever that might be,” he continued. “This addresses all those issues, where the buyer will be in a position where he can bid on any car that comes through the building.

“That’s unheard of in this industry. Where the seller can (choose to) not be concerned about lane preference, because it doesn’t matter anymore. Every car has the same exposure, availability.”

Just one of many ways auction folks are thinking differently. 


Compact crossover SUVs post ‘significant’ price strength

LAWRENCEVILLE, Ga. - 

If you’re looking for compact crossover SUVs for your inventory, chances are you’re dipping deeper into your floor-plan account to get them.

This week’s Black Book Market Insights report indicated compact crossover SUVs are showing “significant” price strength against the rest of the market. In fact, editors put the increase at 1.1 percent looking at figures as of Oct. 1 versus a month earlier.

Meanwhile, Black Book added that a handful of truck segments showed strong retention versus that of cars.

“Depreciation increased on both cars and light trucks. Car segments saw the highest weekly depreciation in seven weeks. However, prices in the Houston-area market remain elevated,” said Anil Goyal, Black Book’s senior vice president of automotive valuation and analytics.

Volume-weighted data showed that overall car segment values decreased by 0.50 percent last week, worse than the average weekly decrease of 0.36 percent in values spotted during the previous four weeks.

Editors mentioned sub-compact car, compact car and full-size car segments performed the best while luxury car and premium sporty car segments declined the most.

Again volume-weighted information revealed overall truck segment values — including pickups, SUVs and vans — decreased by 0.26 percent last week, worse than the average weekly decrease of 0.15 percent in values editors noticed during the previous four weeks.

Black Book added that the luxury crossover/SUV generally performed the worst among truck segments.

Turning next to what Black Book representatives witnessed in the lanes, a Pennsylvania auction general manager told the observer: “The market is in neutral here, typical of the fall season. Dealers are more cautious with regard not only to what they will purchase, but how much they will pay.”

Down in Texas, the story played out similar to what’s been seen since Hurricane Harvey impacted the region nearly two months ago.

“Prices remain elevated, and the buyers’ options remain good from an inventory standpoint,” Black Book’s lane watcher in the Lone Star State said. “The supply has met the demand adequately after the hurricane due to the abundance of vehicles being shipped into our area.”

Over in Georgia, dealers aren’t necessarily making the hammer fall with every vehicle that crosses the block.

“There is a lot of hesitation in the current market. The fact that dealers are buying lower-priced vehicles which often have some type of damage and/or high mileage is evidence of their apprehension,” said Black Book’s representative stationed in Georgia.

Finally, up in Michigan where fall is in full swing, the activity matched the changing weather with the observer noting, “Trucks and SUVs made up most of the consignment and an even larger portion of the sales conversions.”


TradeRev organizes free transportation for Houston-area dealers

CARMEL, Ind. - 

TradeRev found a way to help dealerships that are still trying to get their businesses back in order after Hurricane Harvey.

On Tuesday, TradeRev launched a special offer to help Houston-area dealers replenish inventory lost during the Category 4 storm. For a limited time, Houston-area dealers will receive free transportation through CarsArrive Network on any vehicle purchased on TradeRev from Texas, Oklahoma and Florida.

The company hopes this will alleviate some of the financial pressure dealers are experiencing while helping them quickly source high-quality units to meet surging consumer demand. TradeRev and CarsArrive Network are both business units of KAR Auction Services.

“KAR’s auctions and affiliated business units have played an active role in the hurricane relief efforts, and we’ve witnessed the hardships our customers are facing first-hand,” said Becca Polak, TradeRev president and chief legal officer and secretary for KAR Auction Services.

“Using TradeRev will help Houston dealers source inventory more quickly and conveniently from a broader seller-base than the local auctions. And the CarsArrive promotion is one way we could show our support and help dealers rebuild their businesses,” Polak continued.

This free shipping offer ends Nov. 30. The company explained it is limited to buying dealers located in Texas ZIP codes impacted by Hurricane Harvey. For more information on the zip codes eligible and offer restrictions, visit the news section on TradeRev.com.

“CarsArrive is proud to partner with TradeRev to help our shared customers in Houston recover and rebuild,” said Michael Briggs, president of CarsArrive Network and RDN. “We have strong, long-standing relationships in Houston, and we want to see this great automotive market back on its feet as quickly as possible.”


Barrett-Jackson, The NASCAR Foundation to auction Jeep for Las Vegas ER personnel

LAS VEGAS - 

The Barrett-Jackson Auction Company and the NASCAR Foundation will host the charity sale of a 2016 Jeep Wrangler Red Rock Edition on Thursday to raise funds for the UNLV School of Medicine Dept. of Emergency Medicine Residency Program Fund.

The fund helps provide physicians training as emergency medicine specialists at UMC, Nevada’s only Level 1 Trauma Center, where victims of the recent Las Vegas shooting continue to be treated.

“Like Barrett-Jackson, our friends at NASCAR have strong ties to Las Vegas and were deeply saddened by the recent tragic event,” Barrett-Jackson chairman and chief executive officer Craig Jackson said in a news release. “We’re so proud this longtime partner of ours is stepping up to help the medical personnel who are fighting daily to save the lives of those injured. It is just one of many initiatives to help to show our support for Las Vegas at this difficult time.”

The rare Jeep hails from the personal collection of NASCAR vice chairman and chairman of The NASCAR Foundation Mike Helton. It is one of less than 50 production vehicles built by Jeep and inspired by the celebration of the 50th Annual Easter Safari in Moab, Utah.

“It’s an honor to donate this vehicle to benefit the UNLV School of Medicine Dept. of Emergency Medicine Residency Program Fund,” Helton said. “We were reminded of the importance of emergency room personnel two weeks ago in Las Vegas. The work that was done under the most trying of circumstances was admirable – and invaluable. This is a cause the Foundation is proud to support, and we urge others to do so.”

The charity sale will take place during Barrett-Jackson’s 10th annual three-day Las Vegas Auction at the Mandalay Bay Resort and Casino, where Helton and NASCAR Hall of Famer Rusty Wallace will be present as the rare Jeep crosses the block at approximately 3:30 p.m.

“We are proud to be a part of an incredible culture where many of our partners have stepped up over the years to donate spectacular charity vehicles, and this Jeep is another great example,” added Steve Davis, Barrett-Jackson president. “We are honored to provide the platform for moments such as this, which are all about us joining together as a community to support Las Vegas and the many families that need our help after such a tragic event.”

The three-day auction will be broadcast on Discovery and Velocity, and internationally on Velocity Canada, Discovery UK and Discovery Turbo UK.

For information about becoming a bidder, visit . Both advance tickets and three-day ticket packages are available.


Cox Auto helps in ongoing Puerto Rico hurricane recovery

ATLANTA and SAN JUAN, Puerto Rico - 

The Federal Emergency Management Agency said Friday that during the next seven days, 20 million meals and more than 11 million liters of water would be arriving on Puerto Rico.   

After confirming the safety of all 30 employees on the island, Cox Automotive put in motion a variety of initiatives to help the Manheim Caribbean team and their families as well as other citizens impacted by Hurricane Maria.

According to an update shared with AuSM on Friday, Cox Automotive:

— Airlifted in and delivered 10,000 pounds of water and two water filtration systems; generators, batteries, tarps and other emergency supplies along with 480 MREs (Meal Ready-to-Eat rations) which the Manheim Caribbean general manager explained how to use.

— Worked with a local contractor to transfer 820 gallons of diesel fuel to the auction site to power the generators.

— Delivered checks to employees from the Cox Employee Relief Fund, providing humanitarian assistance.

“Because supporting our employees remains one of our most important values,” the company reiterated that Manheim team members can access funds from its in-house charitable organization that helps those impacted by natural disasters, injury or illness, or loss of a family member with:

— Household necessities including furniture, kitchenware and linens

— Clothing and school supplies

— Home insurance deductibles

— Hotel expenses for short-term stays

— Rental cars to get employees to work and children to school

The Cox Automotive efforts are working alongside with what FEMA has been trying to do since the Category 4 hurricane blasted Puerto Rico on Sept. 20.

To date, FEMA, working in coordination with federal partners, has provided more than 8 million meals, and 6 million liters of water to Puerto Rico. At the direction of the government of Puerto Rico, FEMA and its partners deliver commodities to Regional Staging Areas (RSA) across the island, where mayors and local officials from municipalities can pick up food, water and other supplies.

Additionally, FEMA is sending direct shipments of meals and water to municipalities designated by PREMA. These shipments can be delivered by truck, or in cases where roads are inaccessible, by air. 

Officials said this is the longest air support food-drop mission in the history of the agency.

FEMA delivers roughly 200,000 meals a day. This is supplemented by the more than 300,000 additional meals distributed each day by organizations like the Salvation Army, Feeding America, the American Red Cross, World Central Kitchen, Convoy of Hope, World Vision, and Southern Baptist. These groups, along with other voluntary agencies, deliver and distribute across the island, to shelters and to senior centers on a daily basis.

The Departmento de Educacion is providing meals to more than 5,700 occupants in shelters, and distributing food to 224 schools working as community food centers, while also allowing children to do activities on site.

“As more stores open across the island where food, water, and other commodities can be purchased, there will be a lesser need for provided meals and water, allowing FEMA and its partners to continue to focus on the harder to reach communities,” officials said.

Along with supporting relief in Puerto Rico, other segments of the automotive industry are collecting resources to help those individuals impacted by Hurricanes Harvey, Irma and Maria. Here’s how you can help:

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XLerate names new COO

INDIANAPOLIS  - 

The XLerate Group has a new chief operating officer. The auto auction company said Monday it has named former ADESA executive Pat Stevens to the post.

The COO position had been unoccupied for a while after Darris McClure moved over to lead XLFunding, a floor planning business the auction group recently launched.

As for Stevens, he had been executive vice president for the West at ADESA, following time as regional vice president for West. Before that, Stevens had been ADESA Dallas’ general manager, a role in which he had served since 2000.

“I am very pleased to be with the XLerate Group,” Stevens said in a news release. “I look forward to working with our employees, clients and partners to continue building this great company.”

His industry experience goes back to 1994, when he became a fleet manager at what was then ADT Automotive.

“Pat Stevens’ comprehensive and authoritative knowledge of auction operations makes him a perfect fit in the role of COO,” XLerate chief executive officer Cam Hitchcock said in a news release “Pat has worked in the auto auction industry for over 20 years, and 14 of those years in executive management positions. His addition to our management staff strengthens our company.”

XLerate executive vice president Chuck Tapp said: “We are excited to have Pat on board. His experience is essential to our future growth. We have confidence that Pat will help take our auction group to the next level.”


Black Book’s index makes largest sequential jump in more than 5 years

LAWRENCEVILLE, Ga. - 

The surge Hurricane Harvey created still is rippling through the wholesale market.

Black Book reported that its Used Vehicle Retention Index for September posted the largest month-over-month gain since March 2012. The index reading increased from 112.6 to 113.9.

Hurricane Harvey caused major flooding throughout parts of Texas, resulting in an estimated up to 500,000 cars and trucks needing to be replaced. The replacement process began in September, with compact cars (up 2.8 percent), compact crossover SUVs (up 2.4 percent), full-size cars (up 2.5 percent) and mid-size cars (up 2.3 percent) each seeing significant month-over-month increases within the Index.

“We certainly anticipated a near-term increase in the Index in last month's report, and with the storm replacement activity kicking in we believe this activity will continue in the next month but not much longer,” said Anil Goyal, senior vice president of automotive valuation and analytics for Black Book.

“We saw a nice bump in several car segments, and we also anticipate several truck segments to see increases as well, especially with the demand for service and construction vehicles. It was interesting that mainstream car segments and compact SUVs experienced the largest increase in immediate replacement demand,” Goyal continued.

The Black Book Used Vehicle Retention Index is calculated using Black Book’s published wholesale average value on 2- to 6-year-old used vehicles, as a percent of original typically equipped MSRP.

The index dates back to January 2005, where Black Book published a benchmark index value of 100.0 for the market. During 2008, the index dropped by 14.1 percent, while during 2016, the index fell by just 6.4 percent. During 2011, the index rose strongly from 113.3 to 123.0 by the end of the year as the economy picked up steam and used vehicle values rose higher.

It continued to remain relatively stable, rising slightly until May of 2014 when it hit a peak of 128.1.

To obtain a copy of the latest Black Book Wholesale Value Index, .


5 ways to spot finer points of potentially weather-damaged vehicles

AUSTIN, Texas - 

An auction operator who likely saw at least some of the rain from Hurricanes Harvey and Irma spelled out his five points to consider as the industry watches for flood-damaged vehicles.

Chris Tomchay, co-founder and chief operating officer of The Appraisal Lane and co-owner of the Georgia-Carolina Auto Auction, shared his five thoughts as estimates approach 1 million units being impacted by the consecutive Category 4 hurricanes to touch the U.S.

“Apart from the basics, there are other telltale signs that dealers and private parties should pay attention to when it comes to signs of hurricane-related damage,” said Tomchay, whose auction is located 70 miles northeast of Atlanta. “Information is power, so arm yourself with as much knowledge as possible to avoid getting burned on the bottom line.”

Here are Tomchay’s five additional tips:

1. A clean history report doesn’t always mean a clean vehicle.

With widespread hurricane damage in Florida and Texas in recent months, and with Tropical Storm Nate now bearing down on the Gulf Coast, Tomchay explained that it’s important to note that dealers can’t always trust a clean vehicle history report.

“Sometimes there is lag time in the reporting of flood damaged cars to vehicle history reporting organizations. Even 60 or 90 days, at this juncture, is enough time for a vehicle that would otherwise been deemed as ‘salvage’ or ‘totaled’ to be sold to an unsuspecting buyer,” he said.

2. There’s a big difference between salt water and fresh water damage.

While fresh water submersion means damp upholstery or wet engine components that could ultimately be dried and restored, Tomchay pointed out salt water damage is something altogether different.

“Salt causes significant corrosion which, in the long run, can cause big problems to the major components of a car, including the steering and electrical systems, the transmission, the undercarriage, the fuel system, the body panels, and much more,” Tomchay said.

He added that while some waterlogged vehicles with minor damage can represent a good value, it’s important to know the type of water that caused the damage.

3. Flood damaged vehicles can break the bank — but they can also come at a value.

Tomchay acknowledged that certain flood damaged vehicles represent a value depending on the extent and type of damage.

“I’m all for buying a car at  ($0.50) on the dollar if it was submerged to the floor in fresh water, or purchasing a vehicle for ($0.75)  on the dollar if it was stranded on a ship in a salt water port and the manufacturer merely voided the exterior paint warranty,” he said. “It really depends on the situation.”

4. Beware of out-of-state registrations.

If a vehicle that is registered in a known hurricane-havocked region suddenly shows up for sale in your Northeast or Midwest market, Tomchay recommended that dealers should be extra diligent — particularly now.

“Take a little extra time to evaluate the vehicle using The Appraisal Lane’s SMART tips,” he said. “It could wind up saving you thousands of dollars in the end.”

5. Flood damage isn’t the only hurricane damage.

Tomchay also mentioned small sized hail on a light colored exterior could go unnoticed, as could sand blasting from high winds.

“Be sure to closely inspect a car’s exterior in proper lighting, preferably in sunlight and from various angles,” he said. “If you’re still unsure, solicit an inspection from a qualified body repair shop.”

Tomchay concludes that if dealers are still uncertain when it comes to evaluating a potential hurricane damaged vehicle, or off-brand/one-off inventory, a community approach to appraisals is best — one that connects you with expert appraisers in real time, backed by cash offers.

“Evaluating vehicles based on the law of averages is particularly risky, not to mention trying to evaluate vehicles that may have been damaged during this volatile hurricane season,” he said.

The Appraisal Lane — a Silver Sponsor at  which begins on Nov. 13 in Palm Springs, Calif. — consists of vehicle appraisers whose singular responsibility is to evaluate thousands of vehicles each month across all makes and models. The company’s mobile app can connect dealers with a larger community of appraisers and buyers to receive real time cash offers on inventory.

For dealers interested in more information about The Appraisal Lane, visit or send a message to [email protected]


AutoBuy opens 2 locations in partnership with ADESA, Manheim

WEST PALM BEACH, Fla. - 

Florida-based AutoBuy now has eight locations since opening two new locations in respective partnerships with ADESA and Manheim, the company announced Tuesday.

The new AutoBuy in Sanford, Fla. (which was launched in partnership with ADESA) and AutoBuy Orlando (launched in partnership with Manheim) have increased AutoBuy’s buy/sell capacity by more than 40 percent, according to the company.

“Keeping pace with the growing demand from consumers who want to sell us their vehicles means increasing our geographic reach,” AutoBuy chief executive officer Mark Maida said in a news release. “These two new locations not only help us meet that demand, but also give us two more ‘lanes’ from which to provide our fresh inventory to dealerships nationwide via simulcast. We are very pleased to be working with both ADESA and Manheim and plan to keep their lanes full and turning fast.”

The new AutoBuy in Sanford, Fla. is located at ADESA Orlando’s 30,000-square-foot facility. And the Orlando AutoBuy is located inside Manheim Central Florida.

“Our auction is all about having sellers with vehicles that bring more buyers to the sale. AutoBuy has an incredible range of inventory that has not been marketed online, so it’s fresh and ready to go,” said Jeff York, general manager of ADESA Orlando.

“Our experience with the AutoBuy team has been fantastic. They are excellent auctioneers — with about a 70 percent conversion on their inventory — and have the entire remarketing process completely dialed in. We are excited at the ways in which our relationship will expand both of our businesses.”

The used-car-buying company said it has served over 100,000 private car sellers and appraised over $1 billion in inventory since its inception.

“AutoBuy are fantastic partners who have cultivated an excellent buyer base that helped double their transaction volume at our West Palm Beach location over the past two years. The velocity at which they move their inventory is a key factor in their growth with a fresh and diverse mix of inventory offered every week,” added Manheim Central Florida auction manager Dana Lowenthal.

“Their astuteness at evaluating value and understanding the right repairs to optimize the opportunity to sell each unit is also remarkable and a tremendous boost to our reconditioning shops.”


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