The Canadian Committee of the International Auto Remarketers Association (IARA) marked an important milestone in May with its first ever training event.
The program, designed to provide an understanding of all the facets of automotive remarketing, was held at ADESA Toronto.
Dubbed Remarketing 101, the class has been a goal the association was hoping to achieve at some point this year. This inaugural session had 21 attendees coming from a variety of OEMs, captive finance companies, third-party finance firms and some from suppliers.
According the IARA Canada, the curriculum was highlighted by presentations from Claudio DeAngelis of Foss National Leasing and Gerry Corcoran of Jim Pattison Leasing.
Steve Coulman from Manheim Canada, Steve Langdon from ADESA Canada and Canadian Black Book’s Josh Bailey were also on hand to provide insight from their experiences and how their various valuation tools can help in the remarketing process.
The day was highlighted by an appraisal challenge that saw participants predict the value of seven vehicles sold that day using their newly-acquired skills.
Four teams recorded their estimates and these were compared to the sales results from the auction block.
The Appraisal Champions walked away with bragging rights but all left with a better understanding of the workings of an auction and remarketing.
Based upon the success of the event there are already plans to offer the program again at date to be determined.
IARA Canada officials confirmed there are additional plans to create a more in-depth certification programme geared to help organisations and individuals in their remarketing efforts.
Those interested in learning more about being an IARA member are encouraged to contact Doug Collis at email@example.com.