The National Auto Auction Association (NAAA) has announced a $1.4 million relief package for its members.
The NAAA executive committee has voted unanimously to defer association dues until 2021.
Chapter presidents Clint Weaver, Wyatt Carter, Tom Saldutte, and Luke Pidgeon approved the suspension of the chapter dues for 2020.
AuctionNet’s annual dividend distribution will also be moved forward four months to the week of March 23.
Lynn Weaver, Charlotte Pyle, and Dave Blake of the Independent Auction Group leadership have also agreed to refund all 2020 dues paid to date and defer dates until 2021.
Combined, these actions amount to $1.435 million in relief to NAAA member auctions.
"Our industry has been tested in the past, and we're confident that its proven resiliency will see us through to better days,” said Laura Taylor, NAAA Executive Committee president.