Bob’s Market Update: EBlock, Simulcast and CRs

The normalcy of January and February 2020 seems like years ago now.

No one could have imagined the storm that quietly began to brew in February would turn itself into the largest global economic and social disaster since the 1940s. We can only hope and pray that this pandemic can be controlled and dealt with through common sense and balanced decision making. Can we have a functioning economy while controlling this virus over the next many months? I believe we can.

As for the McConkey Auction Group, we would like to provide our weekly update as to our level of operations and service. For us – like everyone – it is a moving target and our goals adjust almost daily.

We conducted our first Spokane “live” simulcast-only open auction in early May. The results were encouraging as motivated sellers and buyers got together over the internet to produce a 41% sale with 330 selling of 802 consigned. Our average selling price was $14,800. Trucks sold relatively well. New car trades were really active. While vehicles have depreciated since mid-March, values are on the rebound. All in all, it was a very encouraging and successful sale. No dealers were present, and our auctioneers and clerks were physically distant. Safety and compliance remain our top priority as we look to serve the market on a limited and evolving basis.

Here is an overview of our current sales and operations:

MAG E Block Hourly Sales

Bidding begins at 6:00 AM (PT) and concludes at 1:00 PM (PT) on featured sale days. Login with your Edge Pipeline credentials.

  • DAA Northwest (Spokane): Monday, Tuesday and Friday
  • DAA Seattle (Auburn): Monday, Tuesday, Wednesday

With our ramped-up efforts to inspect inventories, both Spokane and Seattle will replenish the MAG EBlock offering with fresh inventory. When you log in this week you will find hundreds of cars and trucks that have not previously been offered for sale.

 

Simulcast-Only Schedule

DAA Northwest: Thursdays at 9:00 AM
DAA Seattle: Fridays at 9:00 AM

The Online Buyer Experience

At MAG Auctions, we realize how disruptive this new normal is. Buying cars online, while commonplace for some, is a very different and potentially risky proposition for many.

The Condition Report (CR) is everything if you’ve never seen the car. Our commitment to you as a buyer is to protect you and to provide maximum confidence in your purchasing decisions. Your obligation to us is to thoroughly evaluate the CR. Anything noted accurately on the CR is the buyer’s responsibility.

We have enhanced to our CR process to help promote confidence and further transparency. We want you to know what you are buying; our goal is complete transparency with nothing hidden from you. Your satisfaction and confidence in our processes is the key to our mutual success. Over the next few weeks, our processes will continue to evolve.

MAG’s current CR enhancements include:

  • Undercarriage photos displayed on every CR
  • 10 years and older units will include enhanced major damage photos
  • 10 years and older units will feature an inspection checklist with the description. These units will be started, and the trannies engaged. Checklists will include a report of those findings.
  • Additionally, these units will be given a subjective grade of 1 (poor) 2 (average) or 3 (good) relative to the overall condition as it pertains to the age.

We will continue to evolve and enhance the CR process over the next several weeks.

The main message here is that we’ve got your back. We need you to have reasonable expectations. We will stand behind what we sell, and we will stand with you as these processes evolve.

We hope that we can invite you all back into the lanes in the near future, but in the meantime, we will work with you using the tools we have to create confidence and transparency in every vehicle we offer online.

Thank you for your partnership.

Bob McConkey
President & CEO
McConkey Auction Group