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Thank you for the update. Hopefully we see Etrade and Scottrade follow suit Monday.
Just shy of .20 at this point. The volume has settled down a lot.
I am looking forward to 2008 and what it will bring to the company. The auto auction market is so big yet there are very few players in the wholesale, dealer to dealer, side of it. Manheim is the largest, pulling in over $2 Billion in sales, for 2005.
Nice to see a positive move today. The company hasn't even scratched the surface of the market, when the marketing campaign hits full force, I see significantly more than the 1% I used in the table, in my opinion.
Good to see the company on the ball and updating the shareholders.
I added to my holdings on this dip. I believe the autobidlive site alone is enough to make this company huge as per my table.
Todays activity was probably a mixture of someone selling earlier today, which caused some panic selling along with the AUCC R/S news increasing said panic.
The company hasn't changed and their marketing autobidlive to 70k+ dealers is going make their revenues move up by leaps and bounds in my opinion.
I did not expect to add at these prices, but I have been. The valuation of the company that I worked up is very conservative, their marketing plan is just starting, I don't see why they can't get significant market share above that 1% I used and trade higher.
Price table and Share counts
My price valuation of AUCI's stock price that is listed in the iBox, is based on 44 Million O/S and is not affected by the number of shares in the float.
There has been some discussion as to which value is correct and how it affects the future of the company.
An email was received from AUCI's IR stating the publicly tradable float was approx 2 Million shares. The rest of the 19 Million states as being in the float is in the hands of company insiders, certificate form, etc and as such is not in a tradable form by the public.
Thanks GordonGecko. That is a nice writeup on AUCI.
It definitely does. No longer is the dealer locked in to what they have on hand to try and keep a customer. Just go online and find it.
As they ramp up their marketing plan we are going to see a surge in the number of cars offered through the autobidlive site. The surge will start feeding itself by attracting more dealers, more car posts and more transactions.
Just like Ebay started, first it was just a few items, and as people bought them, saw how easy it was, and started putting up their own, the market exploded. I can see that happening here with AUCI and not only with their autobidlive site, but also other markets as they expand into them.
Yes, as I have posted previously, I wanted to strike a good balance between potential and conservative figures. Thanks for the feedback, it does appear I was successful in my goal.
Exactly what I have been saying. The volume of cars moved is there, well over 3 million a month trade hands, and if they could just cut 1/2 of those down from live auctions to online with autobidlive, they would not only be saving money from traveling but would have another hand at the dealership more days to deal with customers.
They have begun the process to uplist to the OTCBB. There is a news release about it posted here, I just don't have it right now. I'll look it up shortly for you.
The dealer to dealer market needs this addition. As more dealers sign up, we are going to see the snowball effect that renegadez mentioned before.
$350 Billion automobile auction market, we don't need a large % of it to be worth $10+ imo.
This is hot. You know what's crazy?
I was talking to a customer yesterday and showed them autobidlive and how dealers are going to be able to 'order on the spot' cars for customers, they really liked it. But the crazy part about it was, they called and left me a message later that day about the Carfax news, before I saw it. The word is getting out there.
I agree. The Carfax news shows us that their business model is progressing rapidly. Additional alliances along with marketing to the 70,000+ dealers is really going to make some waves both on Wall Street as well as the auction industry.
Thanks. It took sometime to put together because I wanted it to reflect both conservative figures as well as easily attainable goals yet still show significant net income values.
Hi Stockerz, the points you bring up are great. AUCI is set to streamline the industry with a strong interconnected online network. Connections to uship, carrierrates, carfax, and more are going to make Auctions International the one place to get everything done for your auction and shipping needs.
No need for ZZ Top or other bands, not to mention you can look up a vehicle while your customer is still on the lot.
That news is good. I can see some strong cross marketing developing here and this doesn't include the marketing campaign to the 70k+ dealers as well as the other cross agreements they are working on.
Yes. OTCBB listing process has been started by the company. Here is a link to the news article that discusses it.
http://news.moneycentral.msn.com/ticker/article.aspx?symbol=US:AUCI&feed=PR&date=20070816&id=7337096
Auctions International Inc. (OTC: AUCI), a technology company that owns and markets proprietary software to enable real time online auctions of virtually any product or commodity for use by the wholesale market, announced today that it is moving forward with its plans to become a fully reporting company. As part of the process to become listed on the OTC Bulletin Board, the Company is in the process of auditing its financial statements and is nearing the completion of its Form SB-2 Registration Statement to be filed with the SEC.
Nice find. Growth potential for this company is huge. The auction market is a $350 Billion industry. AUCI has the technology for more than just the auto dealer market and that market alone has over 70,000 dealers in North America. Did you check out the table posted on the iBox with some of the figures giving us calculations of where this can go short term?
Yes. I just updated the iBox with that table.
Yes, the shareholder update news is very exciting. That could see them placed squarely on Wall Streets radar.
I did use 44m O/S for the calculation as well as net profit and not gross income.
Hey Renegadez, got some numbers here, using the 1% of 70k dealers
Assuming the company grows to only 700 dealers, only 1% of the over 70,000 dealers in North America.
700 Dealers 1% of the North American Dealer Market
4200 Cars/month 6 cars per dealer per month (Industry avg is 10-15)
$20 mill net profit based on avg industry auction fees $200 for buyer and $200 for seller
$7/sh valuation using industry standard PE ratio of 15
These numbers do not include other revenue streams from other commodity verticals, possible licensing of their technology, etc
I am not a licensed analyst, so please take these numbers for what they are, an attempt to place a possible value on the share price based on some estimates, industry averages, etc.
That is a great update. Thank you, I did update the iBox area with that information.
The company is yet to be discovered by Wall Street and with a public float in the 2m area, this could become a major mover as the company rolls out its marketing campaign.
Those numbers I calculated are very conservative. Ground floor opportunities like this don't come around often. I will be adding more this week.
Nearly 10 million used vehicles were sold through auctions last year, according to Manheim Auctions, Atlanta--the largest of such companies. About half those were sold by dealers--usually cars they took as trade-ins but didn't want to sell as used cars themselves. (Manheim, 2005)
So approximately 5m through dealers directly, and my calculations are based on only 50k cars a year. That is only 1% of the market.
Exactly my point. They don't need 10% of the market to have some serious revenues coming in.
The marketing campaign hasn't even begun yet. That has me very excited about the future of the company.
Leaving the lot. Probably catch up with you later tonight.
An additional advantage of online auctions is the instant comparison across the nation of any particular vehicle you want to look at. This gives you a quick view of the current price point, mileage, and condition of a vehicle.
You can rapidly review possible candidates for a client, while they are with you. I never enjoyed telling a client that I would call them within the next day or 2, while I went calling and looking for a match.
Consumers are accustomed to the rapid results from doing business online. AUCI brings that speed right to the dealers office.
As much as AUCI's auto auction site, http://www.autobidlive.com , is a great addition to auto dealers toolkits, and on its own will place AUCI on Wall Streets radar, the company is already looking to expand beyond the auto industry and into other commodities and markets.
That is great information. Glad the company is open to shareholder inquires like that. There are plenty that are not.
Welcome. Word is definitely starting to get out as our investoshub group is picking up new members daily now.
Hi Zen, welcome to the board. I just came back from lunch to be greeted by a news release from the company.
Some very promising parts of the PR:
"These partners and others in the pipeline provide value-added services such as vehicle history reporting and listing services, which makes virtual trading reliable, easy and economically worthwhile. Our partners also will participate in co-marketing our services to their established customer base."
"The service organizations we have identified represent over 5,000 dealers and over one million cars. We hope to finalize an agreement with such a key service organization in the very near future."
Auctions International Inc. Issues Progress Report to Shareholders
2007-11-29 13:00 ET - News Release
KELOWNA, BC -- (MARKET WIRE) -- 11/29/07
Auctions International Inc. (PINKSHEETS: AUCI), a technology company that owns and markets proprietary software that enables real time online auctions of virtually any commodity in the wholesale market, issued today a progress report to shareholders from President Douglas Mann.
Dear Valued Shareholders:
I am very pleased to discuss the material developments at Auctions International since we launched our first technology application, AutoBidLive.com, in July 2007. Operating as a wholly owned subsidiary, AutoBidLive is focused exclusively on facilitating online auctions for qualified, licensed buyers and sellers in the North American automotive wholesale market. We developed AutoBidLive in response to the more than 65,000 licensed pre-owned auto dealers who are seeking to move excess inventory and reduce their dependency on time-consuming, expensive physical auctions.
For the first time in 30 years, buying American cars has never been more attractive for Canadian dealerships. The narrowing parity between U.S. and Canadian currencies has enabled Canadian dealerships to source and purchase from the U.S. at highly competitive rates. A retail price in the U.S. may be close to a wholesale price in Canada. This has encouraged Canadian dealers to join AutoBidLive, and opened up new sales opportunities for American dealerships to gain new business. AutoBidLive enables the seller to post everything for free to get a high level of interest from all over North America. Since we receive fees on completed transactions only, our members avoid the traditional layered costs of other auction sites. In just a few short months, AutoBidLive has gained 68 dealer-members, representing U.S. states coast-to-coast and several large Canadian provinces. We now have 24 vehicles listing on the auction floor, and this number is quickly growing.
We are now focused on increasing our membership base and postings. Our primary challenge is to increase our market awareness and demonstrate the viability of our business model. We have put in place several strategic relationships, such as CarrierRates.com and UShip.com, which allow our members to receive prices and bids on transportation services. These partners and others in the pipeline provide value-added services such as vehicle history reporting and listing services, which makes virtual trading reliable, easy and economically worthwhile. Our partners also will participate in co-marketing our services to their established customer base.
We have identified companies that service the dealers by taking pictures of cars at the dealer's location, entering the vehicle information and details, and forwarding that to newspapers, buy/sell trade publications and other web sites. This marketing model enables any sized dealership, even a single man shop, to compete in AutoBidLive. AutoBidLive will get dealers and cars posted, the service company will get revenue from each trade for vehicles they have pushed through to our site, and the dealers will get added exposure. The service organizations we have identified represent over 5,000 dealers and over one million cars. We hope to finalize an agreement with such a key service organization in the very near future.
Auctions International is carving its niche as the first pure play online auction technology provider serving the B2B wholesale auction market. In addition to online automobile auctions for the wholesale market, Auctions International has identified multiple commodity verticals, which could benefit from its leading-edge online auction technology platform. Additional information about Auctions International as well as corporate structure and stock capitalization can be viewed on our website at www.AuctionsIR.com.
I look forward to providing you additional updates on AutoBidLive's progress and the steps we are taking toward building long-term shareholder value. As always, thank you for your interest and continued support.
Sincerely,
Douglas Mann
President, Auctions International Inc.
This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity, access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.
For Auctions International, contact:
Investor Relations - Canada
CanVox Communications Inc.
1-866-503-AUCI (2824)
www.AuctionsIR.com
or
Investor Relations - U.S.
Rick McCaffrey
OTC Financial Network
781-444-6100x621
rick@otcfn.com
http://www.otcfn.com/auci
Not only in-person. I have been down the online ebay auctions as well, the investor kit has a nice little comparison of regular online vs AUCI auctions.
Internet Auctions Vs. AutoBidLive.com
Insertion and transaction fees with a single bid vs. Fees only upon close of a transaction
Limited information on vehicles at auction vs. Unlimited detailed and photos on vehicles
No personal connection between buyer and seller vs. Automatic alerts (text, email, fax) of bids
Fixed duration, purchase day and time vs. Flexible, open 24 hr. 7 days per week
Yes, they have been around for a while now. Manheim did $2b in sales in 2005. They are a private company, as I mentioned, which leaves Auctions International as the only way for the public to invest into the wholesale auction industry and at the ground floor.
From the AUCI investors kit: http://www.auctionsir.com/investorrelations.php
Traditional Auctions Vs. AutoBidLive.com
Major Cities Only vs. Work from your office
Fixed Auction Times vs. Live Auction 24/7
Insufficient vehicle details vs. Comprehensive vehicle description with pictures
Access to local vehicles vs. Exposure to vehicles all over North America
Costs of travel and time lost out of office vs. No costs until you buy or sell
Sales cycle is pre-determined by auction house vs. Bidding instantaneously so sales cycle completed efficiently at any time
They are set to take the auto auction industry by storm as they ramp up their marketing campaign to over 70,000 dealers in North America.
Manheim, a private company, did $2.5 Billion in auto auction sales in 2005.
I'm still putting together some numbers on what i've found, will post when ready.
Sure thing. Dealers are jumping on this and there's been no marketing yet. Over 70,000 dealers in North America and already over 50 of us have signed up by word of mouth. The switch from in person auctions to online auctions is happening now, even old timers are switching over. It is a win-win situation for everyone.
From AUCI's investor kit:
Traditional Auctions Vs. AutoBidLive.com
Major Cities Only vs. Work from your office
Fixed Auction Times vs. Live Auction 24/7
Insufficient vehicle details vs. Comprehensive vehicle description with pictures
Access to local vehicles vs. Exposure to vehicles all over North America
Costs of travel and time lost out of office vs. No costs until you buy or sell
Sales cycle is pre-determined by auction house vs. Bidding instantaneously so sales cycle completed efficiently at any time
Hi downtownjonny, I have been collecting some information over the past few weeks and doing a bunch of research. Check out some of my and ReneGadez posts. The investor kit they offer on their website is available in PDF format.
This is a relatively new IPO, but preparations to move to the OTC BB are already in progress.
" As part of the process to become listed on the OTC Bulletin Board, the Company is in the process of auditing its financial statements and is nearing the completion of its Form SB-2 Registration Statement to be filed with the SEC. "
http://news.moneycentral.msn.com/ticker/article.aspx?symbol=US:AUCI&feed=PR&date=20070816&id=7337096
Auctions International Inc. Moves Forward to Become a Fully Reporting Company
ETFC continues to be a rollercoaster ride with buyout rumors growing.
The auto auction industry is a $350 Billion dollar industry. AUCI auction software platform is designed to be used in many markets, not just the auto auction industry. The software has past testing and is being used live now with the autobidlive.com site. The market potential just with the auto industry alone is tremendous, if we include other markets, there's no telling how big this can get.
AUCI only needs a small % of that 3.2m cars per month to show up on Wall Streets' radar. I was crunching some numbers earlier today and have a few more to do, then I'll post them to the board.
I hope you picked some up this week. The word is spreading amongst dealers, only a matter of time now, between word of mouth and the marketing campaign to come, that we will see the excitement spill out into the public.
Once people get used to using this, they won't want to turn back. It'll take some time for this to sweep the nation, but the potential is there for a major shift away from live physical auctions.
Just like any new technology, it takes time for acceptance. Once that hurdle is passed, the new technology becomes part of our daily lives.
Yes, it was great. Family came over, had an incredible evening.
That's over 100 dealers and they haven't even started the marketing campaign to the 70,000+ dealers in North America.
Have to step out for a little bit.
Hope you had a good Thanksgiving. Will be catching up on paperwork today.
As much as live in person auctions are a pain, they have been a necessity to keep inventory fresh as well as trade out stagnant inventory. Over 3 million cars trade hands a month via live auctions. That number is going to increase dramatically as AUCI ramps up their marketing plan.
Another area that is troublesome at best, is shipping vehicles from live auctions. With integration of uship and carrierrates, the guess work is taken out of shipping the vehicles. Both shippers support feedback rating of carriers, just as AUCI does for the dealers. A true one stop auction place for the dealer market in North America.