As evidence of the continued downturn in used values, June marked the first time in four months that average sale prices at auction came in below $10,000, according to the latest analysis from ADESA’s Tom Kontos. ADESA Analytical Services’ monthly data indicates that the average wholesale price in June came in at $9,893, the lowest […] [Read More]

There’s good news coming from the lanes at Brasher’s Sacramento Auto Auction. With two exceptions, all segments of the wholesale used-vehicle market are strong in the area. In making his post-sale report for the July 10 sale at Brasher’s Sacramento, John Brasher noted a “really, really strong” market in almost all segments, including trades, repossessions […] [Read More]

Brian Butts may have been destined for the auto business ever since the first words that came out of his mouth as a baby. What’s more, the lifelong “first love” of this born-and-bred Los Angeles man has four wheels. “My first love has always been cars,” said Butts, who was recently named manager of auto […] [Read More]

The teaming of two auction-related companies to offer online bidding on wholesale vehicles to not only dealers, but the general public was announced this week. On Wednesday, Coast to Coast Public Auto Auctions revealed its partnership with Proxibid, a move the companies say will allow consumers to shop for a wholesale vehicle via live and […] [Read More]

Auto Remarketing learned Wednesday morning that vAuto has purchased Auction Genius and that initial product integrations between the two companies have started. Customers will be able to begin using elements of the integrated system this summer, officials noted, emphasizing that full integration and functionality will likely be ready by December. “This acquisition advances vAuto’s mission […] [Read More]

The Greater Milwaukee Auto Auction will celebrate its eighth anniversary this week in a big way, with an expansion from four lanes to five, running 1,100 cars each week, and the installation of new epoxy floors in its lanes. Opened in 2004, GMAA is Wisconsin’s largest independent auto auction. Last fall, the auction also expanded […] [Read More]

Think $9,500 isn’t getting you the same kind of vehicle at auction as it did a year ago? Manheim’s Tom Webb agrees and shared some data Monday to support the claim. During his quarterly conference call, Webb delved into his findings when he looked at the average change in mileage by wholesale price tier, comparing […] [Read More]

A 10-cent drop in gas price could have created a stir on the wholesale market, but Ricky Beggs and the Black Book team didn’t spot one last week. However, Beggs cheered the downward movement of fuel prices, which according to his calculation now have softened for 13 weeks in a row to leave the national […] [Read More]

Ten years ago Manheim reported what it called a first in the remarketing industry when the company launched its Simulcast product line. Now, the anniversary of that launch could win one lucky dealer a Corvette. To commemorate Simulcast’s 10th anniversary, Manheim is giving away a Chevrolet Corvette Z06, the same model as the first vehicle […] [Read More]

ADESA is calling on its dealers, employees and more for nominees in a social media-driven contest to find the “fan favorite” among its auction locations. In a post this morning to the company’s Overdrive blog, chief executive officer Tom Caruso said: “You may have noticed that ADESA has become very active in social media recently. […] [Read More]