November 8, 2019
Bob’s Market Message
DAA Northwest celebrated its 27th Anniversary this past week. We are most grateful for the partnerships and friendships we have forged in those good old-fashioned auction lanes during the past three decades.
The Anniversary Sale produced strong results with 3075 units consigned and 1590 sold for a 52% conversion rate. Fall is here and we are experiencing a more typical fall market with buyers gaining a conservative vent to their buying activity. All in all, sellers and buyers came together this week, met in the middle, and got deals done…Lots of deals!
As you may or may not have heard, our sister auction – KCI Kansas City – is now under new ownership. The auction was sold last Friday to America’s Auto Auctions. America’s is an emerging auction group now with 23 locations. They are not an auction chain as we know them. America’s operates each auction as its own business with its own culture. As such, the KCI team will not experience culture shock or unnecessary change or disruption. America’s has a strong presence in the Midwest and will provide KCI with influence and investment to continue its path of success into the future. I have loved my time with KCI and its team. They are amongst the finest auction teams in the country.
Although selling KCI was a difficult decision, focusing our efforts exclusively on our home turf here in the Pacific Northwest is now our only priority. We have bought and sold a few auctions over the past many years in different markets. The Pacific Northwest, however, is different – the Pacific Northwest is our home!
Our goal in 2020 and well beyond is to focus all our energy and resources on DAA Seattle and DAA Northwest. We are going to grow our influence in this market and will become a much more cohesive team between DAA Seattle and DAA Northwest. We will more proactively focus on our individual strengths while building a more integrated culture and a more coordinated approach to the market. As a customer, you should experience this positive evolution.
We are 27 years old. We are stable, mature and poised to further extend our influence in this region. We will keep doing what we do best while exploring new ways to serve the needs of our customers into the next generation.
Thank you for 27 years – and many more to come.