Bob’s Market Message

Bob McConkey

July 28, 2014

Post-Rock and Roll Sale Week is behind us. In Spokane, we are fully recovered. This past week’s sale provided decent volume and slightly subdued activity. Seattle had good volume with nearly 500 units consigned.

Buyers are becoming a little more selective as more nice cars and trucks continue to enter the marketplace. Trades are plentiful, and if they are worn-out, they are not worth much these days. Late models are leading the market for sure. High mileage units that had become the norm are now competing with an increasing number of lower mileage units. This is where the focus is. Specifically, high mileage trucks have to be priced aggressively to sell. We seldom hit floor on these late model “milers” and are successfully negotiating the sale of these units through a very determined and persistent offer process. I do not see this trend reversing itself. If you bring these units to market, pay attention and be prepared to negotiate. By fall, today’s money will look very attractive.

A few weeks ago, I wrote about the passing of Martin Hoover, a Pacific Northwest fixture in the car business for nearly 70 years. Hoover Motors is now closed. The remaining inventory will be sold at DAA Seattle next Friday for the benefit of Martin’s estate. There will be no buyer’s fees on his units; they are very nice, low mileage, late model cars – reconditioned and ready to retail.

As always, thank you for your support of DAA. Hope we see you in the lanes this week!

- Bob McConkey