ABC Introduces 100-Percent Buyback Program

Auction Broadcasting Company (ABC) is implementing a 100-percent buyback program in November. The program allows dealers to purchase vehicles in the dealer consignment lanes only that feature the 100-percent buyback guarantee. After a 60-day selling period, the dealer has the option to return the vehicle to the auction where it was purchased for a full refund of the sales price. ABC said it would be rolling out this program at four of its auctions in November: ABC South Tampa, ABC Minneapolis, ABC Nashville, and ABC Washington/Dulles. After a four-month pro-gram implementation stage, ABC hopes to offer the 100-percent buyback program at all seven of ITS auctions starting February 2003.