Bob's Market Update

These are truly unprecedented times.

One day, we will all look back on the spring of 2020 and say, “Wow, that was weird.” We will also remember how we got creative, worked together, and made it through.

You – our customers – are finally open for business, although with restrictions. DAA Seattle and DAA Northwest are now open too, but everything is different for us as well. Together, we are getting it done and doing what we do: buying and selling cars! The internet is allowing us all to keep conducting business. I never thought I would say it but thank God for the internet!

The market has come to life. It’s 100% virtual but alive, nonetheless.

MAG Now, our dealer-to-dealer platform, relaunched on Wednesday with 105 units sold. It is a crucial part of our future strategy, it is breaking new barriers, and it is working. We also offered a closed Ford sale via simulcast Wednesday with strong results and 200 units sold.

DAA Northwest sold just over 1000 units today (as of this evening's writing)...all on simulcast for a 65% conversion rate. That’s over 1300 units sold this week with DAA Seattle yet to run tomorrow. The market has rebounded and is healthy. Our auctions have lots of high-quality inventory, and buyers are taking advantage of it.

Next Tuesday, we will begin offering the option for dealers to personally preview inventory on our lots prior to sales. There will of course be restrictions, but it is a big step in the right direction.

The week of May 26th will be another big one: 

Wednesday:

  • 10:30 AM simulcast-only MAG Motorsports sale in Seattle
  • 1:00 PM MAG Now sale on EBlock
  • 2:00 PM simulcast-only sale in Spokane featuring 700 units 

Thursday:

  • Weekly simulcast-only sale in Spokane with 1600 units

Friday:

  • Weekly simulcast-only sale in Seattle with 900 units

We appreciate your confidence and we are working hard to continue earning your trust. We want to be your # 1 auction.

Have a great, safe Memorial Day weekend and keep selling!

Bob McConkey
President & CEO
McConkey Auction Group