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December 26, 2013

Manheim Auctions Developments

Manheim is the world’s largest, most consolidated wholesale vehicle marketplace. It has 106 operating locations around the world and it has several branches in California, namely Manheim South California, Central California, San Francisco Bay etc. Such a huge project attracts the attention of qualified buyers and driven sellers to meet at live, competitive auctions. They also provide variety of services like reconditioning, certification, dealer financing, inspection and much more.

Manheim has taken many bold initiatives and made wise investments starting from 1945 when they bought first Manheim auto auction in Pennsylvania, till last year, when they purchased Dealer Service Corporation and Ready Auto Transport.

In 2000, Manheim took the most audacious step of all and finally acquired their rivals ADT automotives and its 28 U.S auctions from Tyco International Inc. for about $1 billion. Despite the reservations of ADESA and other rival firms, it proved to be a promising step. After the merger, Manheim consisted of 86 North American auctions and 126 business units’ world and around 40,000 employees including ADT’s.

The transition proved to be very harmonious and ADT employees were welcomed like a family, most of them were going to be key executives. Dennis Berry, CEO of Manheim auctions, said that the merger would be a success because these two combines were similar in many ways. He added that both companies had rich historic backgrounds, excellent facilities and most of all tenacious professionals. He proclaimed that the combination of both will assure a successful future for Manheim.

December 9, 2013

Gooding & Co.

High-dollar classic car auction houses in the US have always presented the most persuasive spectacle for the audience around the globe. Gooding and Co. is surely among the most prominent of these auction houses worldwide. They not only participate in but also organize private sales. The Santa Monica based auction house took part in Monterey, Carmel and Pebble beach car week in August earlier this year.“These auction houses are good at finding cars that they think would fit the audience,” said Mackeel Hagerty, founder of Hagerty insurance.

With the week’s event starting, Gooding and Co. had a big opportunity to grab attention of the international crowd and make a big sale. Gooding and Co. and 4 other auction houses sold 71 vehicles of worth 1 million or more this year which rose from 57 in 2012 and 31 in 2011, according to Hagerty. Evidently, Gooding and Co. contributes to present this indulging prospect to the fans worldwide. Although RM auctions, rival auction house, stole the spotlight and made the biggest sale of the week, 1967 Ferrari 275 GTB/4*S N.A.R.T. Spider for $27.5 million, Gooding and Co. concluded the event with their final sale which landed them in the top five of all cars sold this week, a 1997 McLaren F1 coupe for $8.5 million.

Gooding and Co. are also unveiling their marvellous collection including 1952 Ferrari 212 Inter Coupe, 1971 Mercedes-Benz 280 SE 3.5 Cabriolet and many more, at the upcoming Scottsdale auction being held on January 17 & 18, 2014 and the Amelia Island auction on March 7, 2014.