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Iaa Auto Auction - Utilizing the IAA Auto Auction - How it Works, I-bid Live, Pre-bidding

buyers site vehicles system

The IAA Auto Auction stands for Insurance Auto Auctions, and it is a salvage auto auction that has more than 150 locations scattered all over the United States and Canada. People purchase the vehicles from the company for parts. IAA Auto Auction says that every year more than 3.5 million vehicles are considered to be totaled in a car accident, but the auction works to help these vehicles provide some use to people even after they are severely damaged. IAA Auto Auction partners with insurance companies, car dealerships, and rental agencies to help connect people who need to repair their vehicle with a good supply of parts from a totaled vehicle.

How it Works

On any given day, there are several auctions going on at various IAA Auto Auction locations. Buyers can place their bids for the live auction online. They can even search the list of vehicles that will be auctioned on that day, choosing from such a wide selection as automobile, bus, boat, emergency equipment, forestry equipment, and more. They can select a make, model, and a range of years to look for. Then the site will send back a list of vehicles matching the description and telling which site they are located at. In order to place a bid, buyers have to register with the site first. After entering in an email address, they receive a password immediately so that they can start bidding.

I-bid Live

IAA Auto Auction takes online bids through its I-bid LIVE system, which allows buyers who have registered with the site to bid in real time with the buyers who are actually on the site and bidding in person. The system does require a software download before buyers can connect to it. Then they have to log into the auction center and click on the I-bid LIVE icon either right before or during an auction that is going on at that precise moment. Buyers then just follow along on the bidder’s screen to keep track of what’s going on.

Pre-bidding

In addition to bidding in person or live online, buyers also have the opportunity to pre-bid. This feature ends an hour before the auction starts, and the highest pre-bid is represented by proxy at the live part of the auction until either the pre-bidder wins the auction or the auction goes higher than the bidder’s amount.


Buyers also have a chance to inspect the vehicles before the auction begins, although the available times for preview vary from site to site. Check the IAA Auto Auction website to see the preview times.

I-Pay

Buyers who win an auction by bidding over the internet then use the I-pay system to submit their payments to IAA Auto Auction. Buyers who can write checks from their companies are also able to use the system to pull money directly out of the company checking account if they have an approval letter on file with IAA.

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4 months ago

IAA needs dealer licence. I use this insurance auto auction website sca.auction