Who owns Richmond Auto Auction?

Who owns Richmond Auto Auction?

Mark Motley
Richmond Auto Auction founder and chief executive officer Mark Motley says now is “a great time in the history of the company.”

What is MMR in auto auctions?

The Manheim Market Report (MMR) is the premier indicator of wholesale prices. Pricing calculations are based on over 10 million sales transactions for the previous 13 months with precise pricing unmatched by guidebooks. Pricing is refreshed each night, so you’ll get access to the most accurate prices around.

What does lights mean at auction?

“GREEN” Light – the seller represents that the vehicle is sound and subject to all arbitration policies. “RED” Light – the vehicle is being sold “as is” mechanically. Please review auction policies and procedures for a more detailed explanation. “YELLOW” Light – listen to the announcement made by the auctioneer.

What does CR mean in Manheim auction?

Condition Reports
Increase Your Online Sales Today Order CR. Condition Reports increased my sales by 10% . © 2022 Manheim.

What does ta mean in car auction?

Vehicles sold for $3,000 and under are automatically AS-IS regardless of light and cannot be arbitrated for any reason except odometer or title discrepancy. BLUE LIGHT: “TA-Title Delay” identifies that the title is not present at the time of sale. See TITLE INFORMATION Section for TA – Title Delay policies.

What is ride and drive at auction?

Though lights differ by location, this is a summary of what might typically be found at an auction. Green Light: Ride and Drive. Green is a statement by the seller that the vehicle is being sold free of any known major defects, including: • Drive train. • Engine.

What does yellow light mean at auction?

Limited Guarantee
– Yellow Light – “Limited Guarantee”: This light is an indication to the Buyer that the Auctioneer or Selling Representative has made announcements that qualify/clarify the condition or equipment and limit arbitration of this vehicle in conjunction with the green light or when “limited guarantee” is announced.

What is a black title?

#2 · Dec 7, 2018. Only show this user. May want to post your state, so we can give a better answer, but red and black title normally means wrecked or totaled by insurance companies. This is just a random google search answer.

What does red light mean at auto auction?

YELLOW LIGHT: Indicates the announcements have qualified the condition and limits arbitration of this vehicle. RED LIGHT: “AS-IS” signals that the vehicle is not covered by the auction rules for arbitration.

Is buying a car from auction a good idea?

Buying a used vehicle from an auction can be much cheaper than buying from a dealer or a private seller, but it’s also a much riskier way of buying a used car. You usually won’t get a test drive, there’s no warranty, and the vehicle could easily have a sketchy past.

What is auction 4b?

Car Auction Grade 4 Grade 4 is a very broad band of quality sitting below grade 4.5 and above grade 3.5.