McConkey Auction Group Acquires ABS Auto Auctions

November 20, 2020

Spokane, WA – McConkey Auction Group (MAG) announced today the acquisition of Southern California based ABS Auto Auctions. Having recently established a footprint in the Southwest with DAA Las Vegas, this strategic acquisition further compliments MAG’s west coast market presence. MAG’s current locations in Spokane, Seattle, and Las Vegas provide remarketing services to auto dealers and commercial accounts throughout the west and beyond. DAA Northwest, its Spokane, Washington auction, celebrated its 28th anniversary this month. MAG provides remarketing services to major corporate entities including Ford Motor Company, Honda and Acura Remarketing, Kia Motors America, GM Financial, Hyundai Motor Finance, Kia Motors Finance, Avis Budget Group, and many others.  

ABS Auto Auctions, founded by Tom Harmon in 1992, remarkets over 40,000 vehicles annually.  The acquisition enhances McConkey Auction Group’s strategy of synthesizing digital and physical auctions. “Tom has built a great business that I’ve watched and admired for many years.  ABS is a clear leader in the digital auction business,” says Bob McConkey, president and CEO of McConkey Auction Group. Tom and his daughter Danielle, along with their entire team, will remain with ABS Auto Auctions; Tom’s son Sean will continue with ABS Finance, working closely with both MAG and ABS Auto Auctions. ABS Finance, a dealer floor plan company, will continue under the Harmon family’s ownership. “In getting to know ABS better, we found great synergy in both our family-run auto auction businesses. Tom and his team share a culture and work ethic that will combine well with our operations,” says McConkey.

“Bob is a respected industry veteran,” states Tom Harmon “As a past NAAA president and long-time industry advocate, he has the resources and relationships to help take ABS Auto Auctions to the next level, while ensuring that both sellers and buyers continue to receive the same industry-leading results and customer service that they have become accustomed to.  His involvement also provides a great opportunity for our employees and our company,” he adds.

ABS Auto Auctions has ten (10) locations throughout the Western States: Bellflower, Fresno, Inland Empire, Orange County, San Diego, Silicon Valley, and Van Nuys, CA; Las Vegas, NV; Medford, OR; and Phoenix, AZ.

McConkey Auction Group is an independent, wholesale auto and specialty auction company headquartered in Spokane, Washington. The company is a member of the National Auto Auction Association and ServNet, America’s premier independent auto auction network.

Industry consulting firm, TPC Management Company and its principal Pierre Pons advised both companies on the transaction.