Market Insights: The Unpredictable Nature of of the Market

June 1, 2021 | Market Insights from DAA Seattle’s Dave Blake.

The team at DAA Seattle would like all the men and women who are serving or have served our country to know we see you. To our customers, partners, employees, and neighbors we deeply respect and appreciate the commitment so many have made to support the life we are so fortunate to live. When we look beyond our differences, we can always find people that serve in a selfless manner for the greater good, and sometimes that can be lost amongst the chaos. Please know that if this speaks to you, we are aware and grateful for your contributions.

Friday sales the day before a three-day weekend are extremely unpredictable and considering that everything these days seems unpredictable, this year was no different. To our surprise, we had one of the largest consignment sales of the year and sold the second-highest of any sale in 2021, nearly topping our most sold the first week of January (which happened to be our first sale after a 2-1/2-week holiday break). Maybe part of the success this past week was the opportunity to purchase via simulcast, as online buyers represented 62% of all transactions. Late-model values and conversion remained strong; trades have been leveling off a bit these past few weeks.

Our dealer community continues to share that retail is fairly solid and new car stores are lean on new vehicle inventory, knowing that new inventory distribution is still down the road. The volume on MAG Now and at all McConkey Auction Group physical locations has been strong and our projection is that in this competitive market, we will provide a full complement of vehicles to defy this depleted inventory trend. We appreciate all of you and urge you to reach out to us if we are not meeting your expectations.

“We take for granted the very things that most deserve our gratitude.” – Cynthia Ozick

Dave Blake, General Manager