By this time next week, we will have exchanged the 10,000th vehicle as a company! When we started off my only thought was to make it through that daunting 1st year and then to work my business plan through 3 years. Now in our 8th year, we are planning for expansion and continued growth.
Recently, I presented to a NAAA group of independent auction owners who wanted to know how to make their customers better auction buyers and sellers. My response to them was simple and to the point: you must be highly organized. There are so many machinations and processes I see deployed in the lanes and I wonder how they keep it straight... which reinforces my theory and practice. The most effective auction users are those that are organized and keep it simple. Perhaps this is why we will fly by that 10,000th vehicle and continue to motor on ahead.
If your dealership struggles at auction, fell free to call Sudden Services LLC.
If prices are measured by book value on average, than you could say the market is about average . If you single out trucks, it quickly becomes a soft market. If you gauge small cars... try to guess what a Focus or Elantra will do! It may be mid-summer, and it has been hot... but not as hot as cars at auction! The auction business itself, as a whole, is in a rapid state of change and that has had more effect on prices than we give credit to. The shortage of cars crossing the blocks are still out there, but are selling through different channels . Finance companies sell direct. Rental companies have mature wholesale channels outside the auctions. OVE, AutoTrader, Cars.com... all outside channels that have syphoned vehicles out of auction lanes as well. I believe that these are major reasons as to why the "remaining" cars at auction have jumped to the levels they have. It has been the push away from the physical auction from the major consignments sources that has increased val...
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