Mike Hockett, who founded the Auction Broadcasting Company and co-founded ADESA, accepted the Ed Bobit Industry Icon award at a March 1 ceremony at the Conference of Automotive Remarketing (CAR) for his contribution to the industry.

"Yesterday I was an auction guy," Hockett said. "Today I'm an icon. A man has to have passion, but he also has to have a purpose in life."

The award was presented to Hockett by leaders of the National Auto Auction Association and (NAAA) and International Automotive Remarketers Alliance (IARA) at the Paris Las Vegas Hotel and Casino. The award was created in honor of the late Ed Bobit, who was the posthumous inaugural winner in 2015.

Hockett founded ABC approximately 17 years ago, and has been serving as its CEO. The automotive auction business veteran has been in the industry since 1964. Hockett also separately founded ADESA Auctions in 1989.

He received the Circle of Excellence award in 2005.

ABC was acquired by America’s Auto Auction on Jan. 27, giving that company eight auctions in the Midwest and Eastern seaboard. At the time, Xcira acquired the intellectual property and some personnel associated with ABC’s auction management system.

ABC maintains auctions in Baton Rouge, La.; Moody, Ala.; Bowling Green, Ky.; Cincinnati; Perrysburg, Ohio; East Petersburg, Pa.; Centreville, Ill.; and Virginia Beach, Va.

A year ago, the Ed Bobit Industry Icon award was presented to Tom Webb, chief economist for Cox Automotive, and Tom Kontos, EVP and chief economist for ADESA, for their contributions to the industry, their analyses of market conditions, price reporting and forecasting.