Q:

What is an IAA auction license?

A:

Quick Answer

An Insurance Auto Auctions license enables licensees to bid on and purchase vehicles in all IAA salvage auto auctions. To obtain a license, the interested party must hold an automotive-related business license and meet any applicable state-specific requirements related to business taxes or purchasing salvage vehicles.

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Full Answer

Insurance Auto Auctions uses a hybrid auction model that combines live bidding and Internet bidding. This enables licensees to participate in all IAA auctions at more than 150 auction facilities across North America. In addition to salvage vehicles, some auctions also include lightly damaged and repairable vehicles, recovered theft vehicles and dealer trade-in vehicles. A limited number of IAA auctions are open to the public in states that allow it. Pre-auction registration is required for unlicensed parties to participate in public auctions.

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