Our firm currently represents a full service auction house with limited competition, featuring auto and truck sales, vehicle transportation, detailing, mechanical services and fast and efficient title processing. Developed primarily as a dealer’s only auction with additional auctions for the public, this Company has a large amount of growth potential and represents the ideal investment opportunity for an established business looking to expand operations. 2007 posted revenues of $32 million are divided by auto sales (87.5% of revenue), services consisting of flooring, detailing, mechanical and transportation (6.8%), and both seller and buyer fees (5.7%). By focusing marketing efforts on large bank and lease accounts, as well as factory direct sales, 2010 projected revenues of $60 million could easily be bypassed. Approximately 1,200 automobile dealers in the Company database, of which an estimated 150 to 200 dealers attend Company auctions each week. Secure and maintained web site gives automobile sellers 24-hour access to their inventory, status of titles, and gross and net sales. Partnership with an automotive remarketing company provides internet access to vehicles for sale via live online auctions. Holds all required licenses needed to operate, including a Dealers License and a Finance Permit. Knowledgeable key employees are expected to remain with the Company following a transition in ownership.
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