From sci-fi to drama, Watson’s take on auction biz
Here’s something to which many of our readers can probably relate.
We asked Sheryl Watson, the general counsel and senior vice president at ADESA Canada, when she knew the car business was for her.
“When I watched my first live auto auction,” said Watson, a 2016 Women in Remarketing honoree. “An exciting mini-drama unfolds as each car crosses the block.”
If an auto auction is a series of mini-dramas, then the way they’re often sold today might be akin to a sci-fi film. Except there’s not much “fiction” involved.
That’s the biggest change to the industry that Watson has seen during her 17-plus years in the car business.
“Technology has made significant changes in the auto auction business. When I joined the business in 1999, very few — if any — cars were sold online and many people doubted that the Internet was a viable sales channel,” she said. “At that time, the idea of listing and selling cars through a smartphone was in the realm of science fiction.”
Of course, things changed quickly, as they often do in the remarketing business. That’s something Watson enjoys about the industry.
“Every day is different and never boring. I have been working in this business for over 17 years and haven’t had a dull day yet. It is energizing to work in an environment where so many people are passionate about what they do,” she said.
As mentioned above, Watson’s passion for the car business goes back to attending her first live auction. Watson joined the auto industry through her work as an attorney.
“In 1999, I was working as a lawyer in a large Toronto law firm and the Canadian Auction Group — which was acquired by ADESA in 2000 — was one of my firm’s clients,” Watson said. “I was assigned to handle a few legal matters for CAG and became fascinated by the auto auction business. CAG offered me a job as general counsel, I happily accepted and have never looked back.”
Her years in the car business have brought some pretty rewarding experiences. Among those, chairing the National Auto Auction Association’s Canadian Committee from 2007 to 2009.
“During that time, the Canadian Committee developed the NAAA Seller Disclosure Standards-Canada which has since been embraced by numerous Canadian lawmakers who regulate what a dealer needs to disclose when selling a used vehicle,” Watson said.
“It was a great deal of work, but ultimately very worthwhile. When I finished my term as chair, Manheim presented me with a lovely award thanking me for my contribution. I was very flattered,” she said.
To get a sense of how Watson tackles big projects, we asked her to share her approach to problem-solving.
“In my prior life as a litigation lawyer, I learned that the story your client tells you is likely true but is unlikely to be the only truth,” she said. “So, my approach is to dig into a problem and explore the facts from multiple perspectives. Problem-solving becomes much easier when you understand the viewpoints of all stakeholders.”
Lastly, when she gets out of the office, Watson enjoys family time, exercise and an interesting design project.
“Between my husband and I, we have five children. Although they are all ‘off the payroll’ (mostly), they still keep us pretty busy,” she said. “I work out regularly and, in my spare time, design and make jewelry.”
Check out the April 15 edition of Auto Remarketing to learn more about the entire class of 2016 Women in Remarketing honorees.
These outstanding leaders will be honored at Used Car Week 2016, where we will be launching our National Remarketing Conference partnership with the National Auto Auction Association.
Used Car Week is scheduled for Nov. 14-18 at the Red Rock in Las Vegas.