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/
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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