Shanti already said the auction was to clear space (he worded it differently)Greetings B0b, Beanz, Elmer,
I too was born into the car business and have been attending auctions (Adesa, Manhiem, etc B0b knows) since I was a kid. 1/2 price is a good rule of thumb. The only problem is you don'y need a license to attend MNS auctions, unlike the car business. So the down side is that MNS auctions are open to anyone. That is like letting anyone and everyone in the car auctions. Well that would eliminate my job and open up the wholesale market to the public.
The difference is when I go to an auction for cars I know that I need to fix it up, make a profit, and be able to fix any warrantee work that might come back. So my buying patterns would be different then someone who was buying the car for themselves. They are willing to spend more and buy with emotion rather then sense since the car is for them and not a product they are going to sell.