Buffalo-based start-up, ACV Auctions, is changing the way wholesale dealers buy and sell vehicles.
BUFFALO, N.Y. (WKBW) - Buffalo-based start-up, ACV Auctions, is changing the way wholesale dealers buy and sell vehicles.
George Chamoun, ACV Auctions CEO, says the company is leading the way for a streamlined dealer auction.
The automotive whole sale business, which started in 2014, is a platform for 20 minute auctions through and app or online.
The company is in 35 markets across the country with 200 employees and Chamoun says the goal is to double those numbers by the end of 2018.
AVC won $1 million after winning the 43North start-up competition in 2015.
Chamoun says dealers are able to sell vehicles to other dealers.
Inspectors are sent to a dealers lot and then does a condition report and the auction begins from there.
"Once they buy, we take care of everything from the titles, to the payments to the transportation, Chamoun said.