Here’s how this entrepreneur built his $3 million business buying cars at auctions

Craig Stowell loves what he does for a living. He gets to follow his passion and go car shopping as a profession.

Stowell owns Flying Wheels, a car dealership in Danville, New Hampshire. The business, which is valued at an estimated $3 million, buys about 80% of its cars at auctions around the country. For him, it’s retail therapy.

“I never know what I’m going to come home with and that’s half the thrill, half the fun,” he said.

In 2022, the U.S. vehicle auction market was valued at $3.21 billion. More than 9 million cars are sold at auctions around the U.S. every year, according to the National Auto Auction Association.

Flying Wheels reached nearly $1.3 million in sales last year. A typical month brings in about $120,000 in sales. Many of those sales come from Stowell’s online followers on YouTube and other social media.

Stowell has purchased as many as 10 vehicles at a single auction, a personal record, but there are days he walks away empty-handed. He says he has lost thousands of dollars making silly mistakes that taught him lessons for the future.

Source: https://www.cnbc.com/2023/02/17/this-entrepreneur-built-a-3-million-business-buying-cars-at-auctions.html

Other Articles You May Be Interested In

We look forward to seeing everyone tomorrow for our Day on the Hill! 

We look forward to seeing everyone tomorrow for our Day on the Hill! 

Wisconsin eliminates personal property tax effective January 1, 2024

Wisconsin eliminates personal property tax effective January 1, 2024

Larry Harb

Larry Harb

Working Together For Success

Working Together For Success

The Wisconsin Auctioneers Association actively advocates for the auction industry through grassroots lobbying and a WAA legislative fund. Member engagement and donations are key to the success of WAA advocacy efforts.

WAA President

Riley Kahl

Our Mission is to educate, promote and protect the auction industry of Wisconsin:

to encourage Auctioneers; to enhance skills, knowledge and professionalism;

to promote the auction method of marketing for sale of real and personal properties.

The Lodge at Mauston

Online booking code is: WAA2024
Guests can book by going online to: www.thelodgeatmauston.com
Or calling (608) 747-2200

Learning the Art of Auctioneering

Auctioneer Schools
State Exam
Regulations

Sales & Use Tax

Auctioneers

It is the duty of every member to protect the public against fraud, misrepresentation or unethical practices in connection with the sale, disposition or liquidation of any real or personal property the auctioneer is called upon to dispose of at public auction.

Auctions

No items found

Industry News

Member News

Larry Harb

Mr. Harb aka… the Auctioneer Insurance Guy, is the founder and CEO of AuctioneerInsurance.com,...

Industry Events

11 + 1 =

Contact Us

2080 W 9th Avenue, #310
Oshkosh, WI 54904
(608) 228-4880