ACV Auctions Hits Monthly Milestone of 5,000 Dealer-to-Dealer Online Wholesale Vehicle Sales

$35 million in vehicle inventory sold in March


Buffalo, NYACV Auctions Inc., the leading dealer-to-dealer full-service wholesale online auction platform, reached a major milestone in March selling more than 5,000 units online for a total of more than $35 million in vehicle inventory sold. The rapidly growing automotive company is increasing vehicle sales at a rate of 400% per year, including over 500 new dealer sign-ups per month.

“Our track record is now proven. We have become the trusted partner for dealerships across the country and have exceeded expectations,” said George Chamoun, CEO of ACV Auctions. “The transparency we provide has made ACV Auctions the best place for a dealer to buy a wholesale vehicle and ultimately the best place to sell.”

ACV Auctions enables franchise dealers to instantly sell wholesale vehicles directly from their lots. The online platform includes a thorough vehicle condition report completed by ACV inspectors who come to the sellers’ lots and take 30 to 40 detailed photographs. The platform alerts independent and franchise buyers when a 20-minute auction begins.

ACV Auctions operates and sells vehicles in 52 markets throughout the East Coast and Midwest. By the end of 2018, ACV Auctions will increase its presence to over 70 markets by expanding to the West Coast.

ACV dealers are having tremendous success across many markets. In Washington, D.C., the company is seeing an overall sell-through rate of 80 percent across 33 dealerships.

“Listing vehicles with accurate descriptions online creates a fair playing field that has increased profits and expedited wholesale turn for the dealer,” said Andy Benone, general sales manager at Ourisman Volkswagen of Bethesda. “Vehicles are listed, sold and picked up in a matter of just a few hours with all paperwork generated electronically. ACV Auctions makes the wholesale process slick and simple.”

ACV Auctions’ world-class technology modernizes the wholesale auction operation, including title management, floor plan purchasing, arbitration, and facilitating the transportation of the vehicles. The end-to-end service includes over 200 trained professionals who ensure selling and buying dealers are successful.

“Dealers want an easy-to-use experience and they trust ACV Auctions,” said Todd Caputo, CEO of Sun Auto Group in Syracuse, New York. “This has enabled us to sell over 90% of our wholesale inventory on ACV Auctions while delivering financial results that exceed what we have been able to accomplish prior.”

Digital auction platforms enable the opportunity for a mature vehicle life cycle, ranging from live appraisals of fresh inventory to the selling of aged inventory. ACV Auctions has thousands of registered buyers who signed up at no cost to purchase vehicles from sellers who are, on average, over 350 miles away.


“It all starts with our condition reports,” said Joe Neiman, a founder and head of product at ACV Auctions. “Everything we’re focused on doing is to build up-to-the-minute data and transparency for our users to make informed decisions.”

About ACV Auctions

ACV Auctions’ mission is to become the trusted source in the industry for dealers to purchase wholesale vehicles. The ACV Auctions platform leverages mobile to maximum benefit: It starts with a thorough vehicle condition report and then instantly alerts buyers that a 20-minute auction has begun. ACV Auctions modernizes the entire arc of wholesale auction operations, including title management, floor plan purchasing, arbitration, and facilitating logistics. ACV Auctions originated from the dynamic start-up community in Buffalo, New York, fueled by Z80 Labs and the 43North startup competition. To learn more, please visit us at www.acvauctions.com and follow us @ACVAuctions.

Press Release

2 Comments

  1. Avatar
    Chuck Jordan April 05, 2018

    I’ve been dealing with ACV since shortly after they came on the wholesale remarketing scene. I’ve worked in the auto auction industry and I’m also the co-owner of a dealership. One of the biggest challenges in running a successful dealership is sourcing good inventory, this takes time and before ACV it required travelling to different auctions and frequently being away from the store. With ACV it’s like I have employees doing all of the leg work of sourcing and inspecting the vehicles except I don’t have to pay for the leg work, the fees at ACV are actually less than the big box auctions where I have to do all my own leg work. ACV has been a game changer and a win win situation.

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  2. Avatar
    Old Car Dog learning new tricks April 06, 2018

    I have tried both ACV, TradeRev, and the physical lane. Over the past 2 years ACV was working pretty well for us as we were able to move about 50% of our wholesale inventory, about 80 cars per month through them. Over the past 2 months our group decided to try TradeRev to see a comparison.

    Keep in mind we were ok w/ ACV and were not interested in another digital auction. TradeRev made some strong promises but got to hand it to them as they have exceeded our expectations. We pretty much sell everything with them now. Being from NY, our cars are rougher but somehow TradeRev has increased our profits much higher which I still don’t understand ; ). They claim to have a stronger national buyer base which we didnt believe at first as they all say that but I got to say you see a clear difference on my cars $$$. We had to make some changes to our operations as we decided to load our own cars up on TradeRev’s app,, which initially we werent going to do. My lot guys are able to get through them quickly and it saves us around $6k per month in fees which matters. We struggled often with lot space with ACV and I have to hand it to Traderev as they regularly sweep my lot to open up for my retail pieces and hold them at their auction lots for pickup. IMO I just think they hit on all cylinders with their services. My advice to anyone is to try these platforms out and see what works best for your group.

    Right now IMO it’s Traderev that gets the results I expect and provides services that make moving these cars much easier. Got to throw that shout out out there.

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