CARMEL, IN and SPOKANE, WA — ADESA and AuctionPipeline (Pipeline) announced a significant industry cooperative, whereby each auction group has agreed to list the others vehicles on its respective Web site.
During the next year, this will include run lists, market reports and eventually both simulcast and Internet-only sales. This cooperative effort, called Plus, represents the union of two of the largest auction Web sites in the industry. This creates not only a considerably larger selection of vehicles, but it also provides a broader and more diverse buyer base.
“This cooperative agreement will benefit all stakeholders,” said AuctionPipeline President Scott Finkle. “Corporate consignors will have their inventories exposed to a broader network, which translates into more eyes on their vehicles. Dealers will have a significantly larger pool of auctions and vehicles from which to seamlessly shop. Auctions will benefit from the combined dealer base.”
Mike Hockett of ABC Auctions, added, "Having recently finalized our agreement with AuctionPipeline, I am thrilled to learn that Pipeline and ADESA have formed Plus, and that ABC can be a part of it all."
Dealers will be able to search both auction groups for specific vehicles. So, regardless of which site they use, dealers will soon notice the Plus symbol built into both Web sites, allowing easy access to shared information and inventory across all auction locations. It is important to note that Pipeline and ADESA auctions will continue to compete in the physical auction space as well as online.
“We simply must continue to evolve to meet the ever-changing needs of our customers,” said ADESA President and CEO Tom Caruso. “As the number of vehicles sold online increases—be it upstream, midstream or at auction—a robust buyer group is critical for the success of these platforms.”