FRANKLIN, TN - Members of Auction Academy’s inaugural class (the Next Generation/Sons and Daughters) were treated to a behind-the-scenes look at the largest independent auto auction in the country as the group met for its third training session on October 22-23 at Southern Auto Auction in East Windsor, Conn. Auction Owner Larry Tribble and Vice President Garrison Hudkins worked closely with Auction Academy COO Randall McCathren in developing a two-day curriculum which provided insights into the detailed preparations and processes used by Southern Auto Auction.
“This third class session proved an outstanding experience for Auction Academy’s Next Generation class, building on the excellent information and experience they received in the first two sessions,” said Auction Academy COO Randall McCathren, noting the first session was held in Franklin, Tenn., while the second session took place in Spokane, Wash., in conjunction with DAA Northwest’s Rock & Roll Sale. “Within the environment of the largest and busiest independent auction in the U.S., the training topics included extensive review of both ‘buying’ and ‘selling’ as a dealer; metrics for measuring performance; indentifying key geographic market areas, risk management, succession planning (as recounted by a second generation owner); vehicle appraisals, auction block technology, and a close-up view of the Eastern Power Sports Auction.”
McCathren also reports that a guest speaker – Paul Assaiante, coach of Trinity College Men’s Squash Team which holds the longest winning record in Collegiate Sports - regaled the class with stories of his spectacular career in college athletics, drawing many parallels with what the class group experiences in both their personal and business lives.
“Auction Academy offers learning and business insights that cannot be gained anywhere else,” said Pierre Pons, CEO of TPC Management Inc., which developed Auction Academy. “On behalf of the Auction Academy students and staff, we offer our thanks to Larry Tribble, Garrison Hudkins and the entire team at Southern Auto Auction for allowing this group a once-in-a-lifetime opportunity to view the inner workings of the one of the most successful auto auctions in the world, which runs more than 3,000 vehicles a week across 20 auction lanes. Southern Auto Auction celebrates 65 years of success this year, and all of us at Auction Academy appreciate Larry’s willingness to share his insights and understanding with the Auction Academy Next Generation class group.”
“We thoroughly enjoyed hosting this session ofAuction Academy, “said Larry Tribble. “As a second generation owner of a family business myself, I am happy to see the next generation embracing our industry with such enthusiasm and dedication. I know many of their parents well, and am pleased to see their sons and daughters following in the footsteps of the people who have worked so hard to build successful businesses and a thriving industry.”
Auction Academy’s Next Generation Owner course is a two-year training and development program for the sons and daughters of today’s independent auction owners. It includes 16 students representing 13 independent auctions and one vendor company who will move together as a cohesive class over a two-year curriculum which encompasses quarterly classes and periodic field trip to auction facilities around the country
Exclusive Industry Sponsors for Auction Academy include Black Book, OVE, and DSC (Dealer Services Corporation). Also supporting the inaugural Class are Used Car News, Cherokee Publishing, Direct Reconditioning, Xcira, United Road and Capital Automotive Reconditioning, as well as Henry & Patty Stanley of Carolina and Indiana Auto Auctions who sponsored the First Session in Nashville.
The Auction Academy is a continuing education program developed by TPC Management Company (TPC) for professionals in the auction industry. Structured like an Executive MBA program, Auction Academy has tracks for the next generation of auction leaders as well as for current auction leadership, designed to enhance essential skill sets, promote best practices, and yield better auction performance.
The Academy has now fielded its second Class Group which consists of auction management personnel, who will kick off their two year curriculum November 29, 30 and December 1st in Franklin, TN.