The repo trade,
in one circle.
For the buyer who wants the car without the showroom — and the lender who needs the asset to clear quickly, cleanly, at fair value.
- Founded
- 1991
- Partners
- 12
- Lots hammered
- 214,751
- Sell-through
- 81%
Repossessed vehicles have been moving through the back doors of regional banks and credit unions for a century. The auctions were closed-room — dealer-only, paddle-fee, mark-up at the wholesale lot. The end buyer paid retail anyway. We thought that was a strange way to do business.
We built AUCTION CENTER, INC. to put the gavel in front of anyone with a verified email and a payment method. The mechanics of an old-school auction house — sequential lots, disclosed reserves, anti-snipe extensions, proxy bidding — all of it, online, free to join.
The auction is the most honest pricing mechanism humans have invented. We just wanted everyone in the room.
Lenders consign their inventory weekly. Photographs, VIN history, mileage, transmission, reserve — published before the doors open. You browse the catalogue, register your seat, and bid when the lot opens. If the floor passes the reserve, the gavel falls. If it doesn't, the lot returns to the lender. Simple as that.
