What Happens at an IAA Salvage Auto Auction?


Quick Answer

At an IAA auction vehicles of varying levels of damage are sold to the highest bidder. Vehicles sold at auction by IAA have been acquired from insurance companies and may have been involved in an accident or recovered from a theft.

Continue Reading

Full Answer

Insurance auctions, such as the ones held by IAA, are stocked with vehicles that have been purchased by insurance companies from policy holders who have been the victims of accidents or thefts. The vehicles sold at insurance auctions may require a significant amount of repair to run properly. Some vehicles sold at insurance auctions are not repairable and are sold strictly for scrap or parts value. Not all insurance auctions are open to the general public and may require the purchaser to be a licensed auto dealer.

IAA auction bidding takes place at one of over 150 local auction events and simultaneously live online. Internet bidding is subject to the same rules as in-person bidding. A person who wins an IAA auction is responsible for transporting her winnings from the premises using a personally chosen company or the in-house transport company provided by IAA. The types of vehicles available at IAA auctions include tractors, trucks, cars, motorcycles and trailers.

Learn more about Buying & Selling

Related Questions