Auction Broadcasting Co. last week opened its 10th auction site, in St. Louis.
Over the next two to three years, the company aims to add about two sites a year in the West and on the East Coast, expanding outside the Midwest and Southeast, said Auction Broadcasting President Jason Hockett.
The Indianapolis company wants to add another site this year, he added.
But the company isn't looking for huge long-term growth, he said. "We're not public. We're staying a family-owned company," said Hockett, son of CEO Mike Hockett, who is also the founder of the now publicly held ADESA Inc.
"My dad's goal is to stay focused on serving the dealer without getting too stretched out. Our managers all worked in retail [automotive] and know how difficult it is for dealers."
ABC St. Louis has 70,000 square feet and four lanes, with room to add a dozen more, Hockett said. The site offers services such as marshalling, inspections, titles and online sales as well as traditional live auctions.
The site expects to offer about 1,000 vehicles a week.
ABC St. Louis is managed by D.J. Adams, who is also a partner in the location.