Skip to main content

In position for 2019

2019 is on the doorstep and it's a knocking! The other sound you hear is the swirling, swarming change the auto auction business is going through and a major thrust came today from the venture capital market! Not new to the market any longer... far removed from the start-up it was referred to as... and now financially positioned to expand our technology and geographic scope, ACV Auctions is better positioned to put your wholesale, aged, and duplicate inventory in front of a variety and depth of automobile buyers that the wholesale auction market has never seen. 20-minute auctions, in depth condition reports, title services, and transportation logistics combined with the efficiencies of conducting your auction business from your phone are the game changes that Bain Capital Partners, Bessemer Venture... and dealers across the US are banking on to position their business for the dynamic that is in front of us the next 12 months. Are you in position to adapt? Contact me or any of my Regional Territory Managers in the Northeast... or let us know where your dealership is and we'll "stitch" you together with our team there. Seasons Greetings! W/

Comments

Post a Comment

Popular posts from this blog

What's Hotter than the Temperature

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...
Post a Comment
Read more

Late Winter Market

It's not the northeast weather that is keeping the wholesale market in check, it is the overall blanket of slow retail sales at both new and used car retailers! * Subaru product is the most in demand at auction now, Hyundai another sought after product line. * Toyota shows increased prices on non-recall units, but not as strong as you might assume... more trouble ahead for the giant retailer? * The availability (or pure #'s of units) crossing the block is down at auctions overall; and the old economics 101... supply v. demand... is not at work right now. * As stated last post, large trucks are softening, luxury SUV's firm. * Honda Civic strong, Buick (yes, Buick) in demand: 2004 LeSabre LIMITED with 44K sells at an astonishing $9900. Compare that to a 58K 2004 Toyota Camry selling at $8900! Go Buick, go. * It is the economy, stupid. When it is all said, people are not grabbing out for another or new car. We are in a replacement mode at auction- that's it. Chat soon
1 comment
Read more

A Resignation That Opens The Door

Just one year ago this week marked a point that I had never been before over a 30+ year career and it was a professional decison that had to be made. I was not healthy and I was not at the lofted level of dedication I'd held myself to. The decision was easy! I resigned. I committed to my team to a seamless transition and told them there would be no disingenous goodbye followed by an announcement on the competitor I was going to join. Resignation became dedicating more time to my family, friends, my health, and to the larger community that surrounds us all. Unencumbered by a business culture stalled in its own way, I relished "taking the high road" journeying thousands upon thousands of miles with eyes and ears wide open and no timetable. And there it was in front of my wife and I every trip we took: The door of opportunity swung wide open with one clear-cut decision. A year on now spiritually and bodily rejuvenated, I re-engage to be purposelful in mentoring ...
Post a Comment
Read more