FRANKLIN, Tenn. -

In a recent update from ServNet president Charles Nichols, the executive said that even though the U.S. economy remains unstable, the auction group continues to see “progress” in the market and is looking toward the future with high hopes.

Nichols commented on the market environment at ServNet auctions around the country, noting it “continues to be dynamic."

“Our auctions are reporting an increase in vehicles crossing the block, and more dealers in the lane to buy them. They continue to attract the business of new national accounts as well as local financial institutions and auto dealers, and they are building and improving facilities in order to provide the highest levels of service to their customers,” he continued. “These are all signs not just of a growing market, but of ServNet’s commitment to the industry and an optimistic outlook for the future.”

And the company has been expanding its ranks, adding seven new member auctions to the group in the past 18 months: El Paso Independent Auto Auction (El Paso, Texas), Plaza Auto Auction (Mount Vernon, Iowa), Brasher’s San Jose Auto Auction (San Jose, Calif.), Nebraska Auto Auction (Lincoln, Neb.), Cocoa Auto Dealers Exchange (Cocoa Beach, Fla.) and Sanford Auto Dealers Exchange (Sanford, Fla.).

With these additions, the auction group now holds a total membership of 30.

And Nichols also noted that many of the ServNet auctions have been remodeling and expanding throughout the country.

First, Pittsburgh Independent Auto Auction and DAA of the Rockies have both built new reconditioning facilities. Furthermore, State Line Auto Auction has a new inspection facility; Missouri Auto Auction has two new auction lanes; and BSC America’s Bel Air Auto Auction touts an all-new facility for specialty sales, the executive shared.

Nichols also commented on new technology the auction group will be utilizing: “ServNet auctions as a group have also experienced ongoing success and are laying the groundwork for future advances by embracing the innovative, technology offered by AuctionPipeline.

"We are eagerly looking forward in the months ahead to the new tools that will become available as a result of AuctionPipeline’s alliance with AuctionEDGE, which effectively brings AuctionPipeline, ASI and AutoLookout together under one umbrella,” Nichols explained.

“The opportunity for a single connection to all three portals will have a far-reaching impact on the way ServNet auctions connect with their customers and bring buyers and sellers together in the auction lane,” he added.

For more information on the development of new company AuctionEDGE, see the Auto Remarketing story.

Nichols concluded his commentary, noting, “Actively involved in day-to-day operations at their facilities and with decades of experience behind them, ServNet’s auction owners are poised to make changes quickly, responding to new customers and the requirements of an ever-changing market. Mine is not a new message, but it is one that bears repeating: ServNet auctions continue to offer superior opportunities for buying and selling vehicles at auction.”