Auction news: NAAA updates arbitration policy; Diamond Rio headlines DAA of Idaho event
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Image courtesy of the National Auto Auction Association.
The National Auto Auction Association’s arbitration policy and certification guidelines have gotten a few upgrades.
NAAA’s Auction Standards Committee has issued updates to those documents. NAAA said the changes, which will take effect Aug. 5, were made to “add clarity, improve transparency and better reflect the evolving nature of the industry.”
The association said the policy updates are based on industry feedback gathered by the committee from NAAA members and customers.
The updates include:
- A new EV and hybrid battery position statement and hybrid battery position statement that addresses the evolving nature of the vehicle segment and amplifies the revised arbitration eligibility in the overall policy.
- Editorial updates to the NAAA certification guidelines and a simplified format for improved clarity.
- New arbitration policies to address the seller’s responsibility when using restrictive or limited announcements, as well as accountability for confusing, ambiguous or deceptive disclosures.
- An added requirement that emission components that are altered or change/disable their intended function must be announced.
- An added requirement for disclosing major mechanical modifications or alterations such as engine tuners or programming, high performance or racing alterations, turbochargers, etc.
- Appendix I to the arbitration policy is now color-coded by selling light and reorganized for easier reference. It’s now in PDF format and searchable by keyword.
When the new policy takes effect, all materials will be available by clicking the “Policy” tab on naaa.com. Auctions can download and print copies of the documents posted on the website.
Diamond Rio to headline DAA of Idaho charity concert
Diamond Rio is coming to the auction.
The Grammy Award-winning band is the featured attraction at Dealers Auto Auction of Idaho’s 12th annual Legends of Country charity concert on Aug. 13.
The next morning, DAA of Idaho will auction more than 600 cars live in the lanes and via simulcast on EdgePipeline.
The concert is set to begin at 5:30 p.m. MDT with local band Sweet Briar as the opening act, followed by a charity auction at 7 p.m. Diamond Rio will then take the stage, performing hits such as “Meet in the Middle” and “One More Day”.
The charity auction will include items ranging from sports memorabilia to jewelry, and even children’s toys. All items are donated by DAA of Idaho and local community members.
“This event is a great way to thank our customers with an evening filled with live music, delicious food and refreshing drinks,” auction owner Russ Smith said in a news release. “It’s the perfect opportunity for families, friends and country music lovers to come together for a night of fun and philanthropy.”
Proceeds from the charity auction will benefit several community organizations, including Kuna Youth Sports, JDRF, Personal Ponies Idaho and Operation Grateful Hearts, which provide support for youth sports programs, funds for diabetes research, therapeutic ponies for children with special needs and support for veterans and their families.
“In previous years, this event has raised up to $30,000,” DAA of Idaho general manager Kyle Egbert said, “and our goal is to exceed that amount this year, amplifying the positive impact on these deserving causes.”