Preliminary Bidding Feature and Details on How Preliminary Bidding works?

A majority of Insurance Auctions, Salvage Auctions, and Auction Pool companies can sell only to a limited number of licensed and registered Salvage Dismantlers and Dealers. We possess all proper licenses and registrations and hence can acquire any vehicle for you anywhere in the country.

The actual live auction for these vehicles are not open to public, so unfortunately there is no way for you to participate. But you can participate in Preliminary Bidding. We will collect your bids and then present them during the live auction if you are the in-house high bidder. Many of our auctions are for bulk purchases and through agents and brokers so the auction price on an individual vehicle is not the same as or in any way identical to the highest in-house bid.

Bid Submission

Our model is COMPLETELY TRANSPARENT. You should enter your ABSOLUTE MAXIMUM bid/offer. You are submitting a PROXY bid/offer. When we bid with the insurance company or at the live auction, we will try to buy the vehicle as inexpensively as possible, and will only bid incrementally against other buyers up to your maximum amount. Sometimes even though we are the highest bidder, insurance auctions and companies have a RESERVE price. This means they have the right to reject a bid even though it is the highest offer. They have the option of re-auctioning the vehicle or we have the option of increasing the bid. We also work out bulk package deals to acquire other vehicles at lower costs.

• Your total purchase price will consist, in part, of the actual sale price at the auction, as well as all applicable auction fees and IAI service fees. Please use our 'Fee Calculator' to obtain a cost estimate. Your bid represents your total liability before addition of fees as above. Because of our special relationships in the industry, there is no warranty or guarantee that your final bid will be equal to the winning auction amount. We often are required to pay administrative fees, broker fees, bulk sales fees, and agent costs in order to obtain the best prices. We do insure, however, that you will never pay more than your approved maximum bid before the addition of auction and service fees.
• Most Insurance Auctions have the preliminary bidding option available to its buyers. Our system will automatically poll them and update the current auction price on our site. However, during the live auction the bidding usually goes much higher. Please don't rely heavily on the current auction price and place your ABSOLUTE MAXIMUM bid, because once the auction ends, we will not be able to increase your bid.