NextGear Capital has announced the creation of two new industry awards to recognize independently-owned auto auctions for their dedication to and support of the industry.

The inaugural presentation of the NextGear Capital Auction Partners Awards will be made September 4 at the 2013 National Auto Auction Association's (NAAA) Annual Convention, held September 3-5 in Indianapolis.

The Operational Excellence Award will be presented to the auction that demonstrates excellent efficiency, top sales retention, and overall operational performance, and most effective response to the needs of NextGear Capital. The award will be presented in two categories: small and large market auctions.

The second award presented will be the Remarketing Excellence Award, which will recognize the auction that demonstrates the highest percentage of sales recovered based on percentage of valuation of each vehicle, the best throughput performance (number of days from when a vehicle is at the auction to days sold), and the best sales follow-up (efficient timing on getting proceeds of sales to NextGear Capital). Again, there will be a winner selected from both the small and large market auctions.

"The auctions are where it all happens," said Shane O'Dell, COO of NextGear Capital. "They drive this industry for dealers large and small, and without their untiring efforts, remarketing would not be the dynamic industry it is today."NextGear Capital plans to make the Auction Partners Awards an annual event. The company continues to focus on its customer-centric approach throughout the U.S. and Canada, and strongly believes independent auctions are the keystone to continual growth in the remarketing industry.