EBlock and Auction Edge Announce Strategic Partnership, Helping Power Independent Auctions into the Future
TORONTO, Jan. 7, 2020 /PRNewswire/ - EBlock announces a strategic partnership and exclusive integration with Auction Edge that will provide brick and mortar auctions with technology to compete in the dealer-to-dealer auction space.
“Independent auctions are scrappy and very competitive by nature,” Dan Diedrich, CEO of Auction Edge, said. “Integrating Auction Edge with EBlock’s platform gives those auctions proven means to facilitate and expedite digital transactions. It empowers their success via the absolute best online dealer-to-dealer platform.”
The EBlock/Auction Edge integration—the first of its kind in the U.S.—will provide McConkey Auction Group (MAG) clients with a state-of-the-art dealer to dealer auction platform (called MAG Now) that complements the buying and selling experience that dealers would expect when attending an auction. Run lists, set auction times, virtual lanes, and units transacting in 60 seconds are just a few reasons why EBlock is growing at 100% YOY in Canada and has now sold over $1 billion worth of vehicles in the D2D space.
“We are selling 5,000 dealer-to-dealer vehicles per month with EBlock in Canada, so when the time came to expand to the U.S., partnering with Auction Edge and piloting with the McConkey Auction Group was the obvious choice,” says Jason McClenahan, CEO of EBlock. “The team at Auction Edge has done an outstanding job building a consolidated buyer base of 50,000 buyers at over 200 auction facilities. Likewise, MAG’s auctions have set an incredibly high bar; the independent auctions have been searching for a better tool than what’s out there, and we firmly believe that through this partnership, we’re bringing them that tool.”
“We’ve always been early adopters, but that doesn’t mean we rush into using a technology for technology’s sake,” says Bob McConkey, President and CEO of MAG and Board Chairman of Auction Edge. “The partnership between EBlock and Auction Edge is the culmination of a lot of research, finding a lot of common ground, and 20 years’ efforts in providing digital solutions for our customers.”
That common ground is what’s at the heart of this new partnership. In addition to McConkey’s unparalleled experience in the industry, both McClenahan and EBlock founder Ryan O’Connor are seasoned auction pros.
“Meeting Bob for the first time it was like wow, this guy really gets it. Even though we were on different sides of the table, we both saw the future of the auction business in identical ways,” said O’Connor. “EBlock was designed with the brick-and mortar experience in mind, and having Bob McConkey validate everything we’ve built is extremely gratifying. Empowering and partnering with physical auctions across the U.S. is a big pivot from disrupting them like we have in Canada. However, when you look at the synergies between EBlock/Edge and the brick-and-mortar footprint across the U.S., anyone who knows this space clearly understands why this partnership makes so much sense.”
Besides enhancing the physical auction experience, EBlock gets brick-and-mortar auctions up and running competitively in the dealer-to-dealer auction space without the infrastructure issues that have plagued other virtual auction providers. The impact of these capabilities will now be expanded by the partnership with MAG and the integration with Auction Edge.
The partnership’s first MAG Now-specific auction event will take place on January 28, with an expansion to independent auctions in the U.S. happening throughout 2020.
EBlock is a leader in the wholesale automotive market, providing sellers and buyers with a streamlined platform that combines the energy and immediacy of a physical auction together with the convenience and efficiency of a digital one.
About McConkey Auction Group
Independently owned McConkey Auction Group (MAG) is the Pacific Northwest’s leading wholesale vehicle remarketing company.
About Auction Edge
Auction Edge is the premier remarketing technology provider to independent auto auctions across the United States, providing platforms and marketplaces for dealers to operate efficiently, dominate locally, compete nationally, and expand their reach globally.
SOURCE EBlock Inc