The 2015 (CAR) is coming up next week in Las Vegas – March 18–19 at Caesar’s Palace. The International Automotive Remarketers Alliance (IARA) is meeting during that conference, where leaders will be discussing and debating the future of the remarketing industry’s currently proposed Multiplatform Bidding System initiative (MPS).
There’s been a split among the auctions on supporting or rejecting the proposed MPS. The IARA would like to see auctions come together and adopt an industry wide statement, and “IARA would prefer to see an auction-lead, industry-wide solution. The Alliance is open to working with its industry partners in coming days to identify specific objections and corresponding solutions to move the project forward.”
This week, Manheim, Columbus Auto Auction, BSC America, and WTG Global (Whann Technology Group) filed a request with the U.S. Department of Justice seeking confirmation that MPS, in its current form, is in compliance with antitrust laws. Manheim and its colleagues believe MPS would help keep the industry on track to produce live transactions this year; they think it would drive innovation and efficiency to auctions, consignors, and dealers.
ServNet announced last month that it had joined ADESA in deciding not to participate in the remarketing industry’s currently proposed MPS. ServNet president Patty Stanley said that recent developments, technology challenges, and antitrust concerns had led ServNet to the conclusion that it would not be prudent to further pursue this initiative. The company agrees with ADESA that, as it’s currently structured, the proposed MPS would erode competition while increasing technology requirements and expenditures.