Q:

What are Insurance Auto Auctions?

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Quick Answer

Insurance auto auctions are where insurance total-loss and repairable salvage vehicles are sold. Insurance auto auctions operate vehicle salvage auctions throughout North America and include some locations in Canada.

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Full Answer

Insurance auto auctions hold live, weekly auctions and also allow buyers to bid on vehicles electronically using their live Internet auction bidding technology, called "I-bid LIVE." Buyers can either pre-bid before the auction or bid in real time alongside the local bidders as the auction is taking place.

Insurance auto auctions also specialize in the sale of over-aged and high mileage vehicles, which cater to the needs of fleet lease, institutional and rental re-marketers.

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