BSCAmerica is a group of privately held companies with a history that dates back more than 3 decades. Originally started as Nichols Auction Company by Raymond C. and Elaine G. Nichols, the company has grown from a single general auction business to a group of highly specialized asset management companies.
In 1974, Nichols Auction Company expanded its operation to primarily serve lenders within the financial sector with real estate and equipment auctions. In 1978, the company was renamed Atlantic Auctions to reflect the regional scope of the many clients served.
To complement the work of Atlantic Auctions, the Nichols’ family soon found themselves in auto auction business when they acquired Bel Air Auto Auction in 1979. Today, Bel Air Auto Auction is the largest independently owned auto auction in Maryland, and stands among the other BSCAmerica companies as the organization’s flagship business.
All during the 1980’s the entrepreneurial spirit of founding partners lead to the development of new services and new companies. In 1981 Lee & Mason of Maryland was formed together with Banking Services Corp. Lee & Mason offered innovative insurance products to manage the risk in auto lease portfolios of lenders across North America. Banking Services Corp quickly became an industry leader in the field of auto remarketing and lease termination management.
With the acquisition and growth of these companies, it was clear that BSCAmerica had a knack for managing the assets of others. In 1987, when the savings and loan thrift crisis hit Maryland, Financial Conservators, another BSCAmerica Company, was called upon by State and Federal Agencies to oversee, liquidate, and manage billions of assets of many distressed thrifts. Its work in this field earned FCI distinction from FSLIC Resolution Trust Corporation and FDIC as a top-performing contractor in 1989.
The 1990’s saw continued growth for the BSCAmerica group of companies. Tallahassee Auto Auction was acquired in 1995, and continues its operation as a BSCAmerica auto auction. The family’s second generation of management joined the organization when R. Charles Nichols and S. Michelle Nichols were added to the organization’s executive team. With added management capabilities BSCAmerica business interests were soon expanded into various real estate and development projects.
In more recent years, the focus for BSCAmerica companies has shifted to seek ways to develop and apply new technologies in its businesses. Today, BSCAmerica has positioned itself to be an industry leader, managing client assets with a variety of Internet tools and electronic data processes that bring buyers and sellers together in ways that were never imagined when Nichols Auction Company sold its first asset.
Our story definitely remains to be continued.