ServNet has announced the opening of its 2019 Scholarship Program, designed to help ServNet auction employees and their families pursue the dream of higher education. The ServNet Scholarship program assists full-time ServNet auction employees, their children, stepchildren and grandchildren who plan to pursue education in college or vocational school programs.

Up to 10 awards totaling $20,000 are available for aspiring undergraduate students in 2019. The awards will be given in increments of five awards of $2,500 to students attending a four-year college or university, and five awards of $1,500 for students attending a two-year college or are pursuing an auto-related degree at a vocational-technical school.

In his year-end message to the auction industry, Eric Autenrieth, ServNet's President, surveys the group's 30th anniversary year, highlighted by the addition of its 23rd auction location and business solutions that will carry forward into 2019.

Another year draws to a close. As we all pause to take stock of the past 12 months, to straighten our desks in preparation for a break from the flow of traffic through our auction lanes to enjoy the holidays, I look back on a great year in business, topped by 30 years of growth and success among our group of ServNet auctions.

As I reported earlier this year, the market has continued to be interesting, though positive. Tax time took hold early and never really stopped, with the dip we generally expect to see following the arrival of refund checks not really materializing until late in the fall. While dealer inventory was lighter than in years past, our auctions made up for that in institutional business: repossessions, off-lease units and rental returns. Dealers who reported shortages in inventory looked for cars on all platforms, which has resulted in strong pricing and strong conversions.  

Along with a dynamic market, customers enjoyed an exceptional customer exeperience at ServNet auctions across the country in 2018.

ServNet wraps up its 30th Anniversary Year with another upswing in growth, adding FastLane Auto Exchange as its 23rd auction location.

"The ServNet auction owners welcome yet another new facility to our ranks," said ServNet President Eric Autenrieth. "Led by owner/operator Greg Price, an industry veteran who comes from second-generation family lineage in the industry, FastLane Auto Exchange is taking the industry by storm, recording exponential growth over the past two years. Greg is a colleague with great experience and talent, and we are pleased to expand ServNet's geographic footprint into the all-important upper Midwest region."

Located just north of Flint Michigan in Mount Morris, FastLane Auto Exchange has been in operation since 1978, and was purchased by a group led by Greg Price in January of 2017. Under Price's leadership, the auction has undergone a staggering transformation, expanding in less than 2 years from an evening sale running 100+ vehicles a week on one lane to a Wednesday afternoon auction featuring 700+ vehicles on 8 lanes.