Copart vs IAAI - comparison of the largest US auction platforms

Copart

Cars from the USA are most often bought through Copart, which is the largest platform of its kind in the United States. It started in 1982 as a salvage car company in California. In the 1990s, the company gradually expanded, acquiring smaller businesses with a similar profile in different states and establishing partnerships with insurance companies. In 1998, the first online sale of Copart was organized. Auctions have finally been completely transferred to the internet since 2003. Currently Copart also has a Polish language website, but you must enter the standard Copart address in the browser, not Copart pl. Cars can be purchased from anywhere in the world.

What vehicles does Copart sell?

Copart sales include:

• wrecked cars,
• cars recovered after theft,
• post-show, post-fleet and rental cars,
• cars intended for export,
• motorcycles,
• heavy equipment,
• boats,
• buses,
• trucks.

Copart - types of membership

Copart offers the following membership types:

• Guest - you can only view offers, but without the ability to bid and check the history of the vehicle;
• Basic Membership - costs $99 per year, allows you to bid up to $2000 without the need to make a deposit, above this amount the company charges a deposit of 10 percent, you can bid on several vehicles, but up to 5 wins are accepted at the same time, no access to quick service in the square,
• Premier Membership - costs $249 per year and requires a deposit of $400, you can buy vehicles up to $100,000 without a daily limit on winning auctions, offers, among others, dedicated support.

Types of sales offers at Copart

Copart Auto Auctions has several types of offers and ways to sell vehicles:

• Preliminary bidding - a few days before the auction, the maximum amount you are willing to pay for the vehicle is set, and the system will bid automatically;
• Virtual bidding - live auction, conducted by a virtual host, the jump is usually 25-100 USD, the system bids up to the amount indicated in the preliminary bidding;
• Buy it now - in free translation, it is simply a buy now option, which allows you to purchase a vehicle at a price set in advance and specified by the seller;
• Pure sale - bidding without a minimum price;
• Reserve/Minimum bid - bidding with a minimum price, the seller can abandon the transaction if it is not reached.

How long it takes to bid on Copart depends on how much the buyer cares about the car and how popular it is. As a rule, however, you have to be fast, because the sale does not take more than a minute. If you are wondering how to find out how much a car has been sold for on Copart, the most popular tool is Bidfax.info. If you are interested in price analysis, it is worth taking a look at Autoastat.com.

What information is in the Copart classifieds?

As a rule, you can find the following items in Copart advertisements:

• basic information about the vehicle,
• information about the location of the square,
• title of ownership (Title),
• information about damage on the basis of the seller's declaration and the type of damage,
• photos and videos,
• the technical status of the vehicle (e.g. run & drive, engine starts, etc.),
• information about the keys,
• information about the bidding and the possible minimum price,
• information about the seller (e.g. bank, insurance company, dealer).

Copart additional services

Registered and active Copart members can benefit from the following additional services:

• assistance in handling payments and deposits,
• access to vehicle history data (extra charge),
• advanced vehicle filtering,
• visual inspection on the spot (in person or by an external company),
• generation of export documents.

Copart additional fees

Copart charges a number of additional fees:

• fee for preparing the vehicle to leave the square,
• environmental fee,
• late payment fee,
• a fee for keeping the vehicle longer than provided for in the regulations,
• export handling fees.

YAY

IAAI stands for Insurance Auto Auctions. Like Copart, the company serves customers from all over the world, including Poland. The company was founded in 1982 as a platform that organizes car auctions from insurance companies. In the 1990s, the company expanded and began operating throughout the United States. In 2013, it was acquired by KAR Auction Services, which allowed it to increase its capital and launch its online business. There are currently 200 IAAI squares. How does it work? The company organizes live auctions for individuals and professionals.

What vehicles does IAAI sell?

In the case of IAAI, customers can choose from a wide range of vehicles, and these are:

• wrecked cars,
• cars from insurance companies after total damage,
• cars recovered after theft,
• fleet cars, post-leased cars, after rentals,
• motorcycles,
• trucks,
• quads,
• heavy work equipment,
• cars with clean titles.

IAAI - types of membership

To access the IAAI, you need to register. The company has the following types of membership:

• Public Buyer - membership for individual customers and companies without a license, which allows you to participate in properly marked auctions, as a rule, these are cars with a pure title or without restrictions under state law;
• Licensed Business Buyer - designed for professional customers (salons and dealers, junkyards, companies dealing in used parts), requires appropriate licenses and documents, the buyer can access all offers;
• Broker-assisted Buyer - designed for clients who use the help of a broker, requires a broker fee, which ranges from $50 to $400, the broker buys the car on behalf of the client and manages the transaction, as well as organizes transportation and formalities.

Types of sales offers on IAAI

In the IAAI, auctions and auctions are divided into the following types and mechanisms of action:

• Timed Auctions - in this IAAI service, bidding has a predetermined end time, and those willing can bid in the system 24/7,
• Live Auctions - live car auctions, run by the host,
• Buy Now - an option to buy immediately at a price set by the seller,
• Make Offer - the buyer can make a specific purchase offer to the seller,
• If Bid - if the vehicle has not reached the minimum price and the bidding has ended, the buyer and seller can additionally negotiate the terms of a possible purchase and thus reach an agreement.

If you are wondering how long it takes to bid on the IAAI, then in the case of live auctions, cars are sold very quickly. In the case of Timed Auctions, it all depends on the seller. Price history can be checked at Bidfax.info and Autoastat.com.

What information is in the IAAI announcements?

The bids published on the IAAI auction website show, among others, the following information:

• basic vehicle data,
• photos of the vehicle being sold, sometimes videos e.g. with a presentation of the engine operation,
• location,
• title of ownership,
• information about possible damage and type of damage,
• the estimated cost of repair (only if such information is provided by the seller),
• the technical status of the vehicle,
• availability of keys,
• bidding information (mode, whether there is a minimum price, etc.).

IAAI Additional Services

The IAAI offers a variety of ancillary services, including:

• IAAI Transport - logistics in the USA,
• Condition Reports - more extensive technical reports than Copart,
• dedicated service for foreign customers,
• the possibility of conducting an inspection of the vehicle on the site by a third-party company (additionally paid).

IAAI Additional Fees

You may encounter the following additional fees at the IAAI:

• transaction fee,
• fee for rearranging the car in the square,
• fee for preparing to leave the square,
• a fee for keeping the vehicle longer than provided for in the auction regulations,
• fee for loading the vehicle into a container or on a tow truck,
• fee for the preparation and issuance of documents.

Copart or IAAI - what to choose?

Copart is considered a place where you can find more interesting vehicles, but at the same time the purchase is fraught with greater risk. This is a good choice for experienced traders and brokers. The service only supports companies. The IAAI provides for service to individual clients, but to a limited extent. It also largely focuses on brokers, which for both companies is dictated by state and federal law. IAAI is considered a company that has more accurate descriptions of vehicles sold and better quality photographs in advertisements. In both cases, auction sites offer not only cars, but also motorcycles, boats, heavy machinery, trucks, buses and others, so the characteristics of the offer are very similar. It is often worth following both of these sites at the same time to increase the chance of finding something suitable for you.

Why use the services of an intermediary?

Professional companies like Bryki of America make Importing cars from the USA is safe and cost-effective. Professionals know perfectly car auctions from the USA and they know how to navigate the market there and work with professional brokers. In addition, they will guide you through the entire process - from searching for an offer and participating in the auction, to delivering the car to the indicated address in Poland and helping to prepare it to move on Polish roads.

Although it would seem that the whole process is simple, because everything is done online, people without experience can easily lose a lot of time and money. At Bryki from America we know perfectly well that buying a car is a serious decision, and the money allocated is often savings made over years of work, so it is worth entrusting it to a proven and safe company that will make sure that you are satisfied with your cars from the USA.

‍