EBlock, a leading online auto auction platform, and Auction Edge, a remarketing technology provider, have announced a partnership to provide brick-and-mortar auctions with the technology to facilitate digital transactions. A pilot of the partnership will begin this month with the McConkey Auction Group (MAG) in the Pacific Northwest.
Pairing the two companies makes sense. Established in 2016, EBlock is currently the fastest growing online auto auction. According to the brand’s website, it’s also the only platform that sells cars in 60 seconds.
Meanwhile, Auction Edge, which was formed in 2012, offers a unified technology platform for independent auctions across the united states.
“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 integration of EBlock and Auction Edge will provide MAG clients with an innovative dealer-to-dealer auction platform called MAG Now. Later on, the technology will be available to other Auction Edge customers across North America.
“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.”
The two companies cite common ground – and a wealth of industry experience on both sides – as a driving force behind the partnership.
“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.”
MAG clients looking to get in on the action can participate in the first auction, which will be held on January 28, 2020.