When a competition finishes, the participants that are recognized are first place, second place, and third place. This is because the first 3 are ranked as the top finishers in the overall competition. Just like any other competition, businesses compete to be the best. In order for auto auctions to be at the top of their industry, they need to adjust with the trends, which includes technology.
Big Valley Auto Auction opened their doors in 2008 and began online simulcasts in 2011, giving dealers the opportunity to bid online. However, we aren’t the only ones who started offering this method. Some auto auctions have taken it further and became 100% online, and today we want to highlight those auctions for you
In this article, you’re going to learn which public and dealer-only online auto auctions are the best, based on the services they offer and special features they have that other auto auctions don’t.
After reading this article, you’ll have the information needed to decide which online auto auction is best for you.
#1: Copart (Dealers and Non-Dealers)
Copart is an online auto auction open to both dealers and non-dealers. While you do not have to be a registered dealer to view auctions, you must pay for a membership in order to bid. Copart offers 3 Membership options: guest, basic, and premier.
The guest option is free for those who want to look at auctions, but don’t want to bid. You can view an auction, add vehicles to your watchlist, and create vehicle alerts.
Basic memberships cost $99.00 and are for those who only plan to buy a few vehicles a year. You can view multiple auctions, bid up to $2,000 without making a deposit, bid on up to 5 cars with a deposit, and save your favorite searches.
A premier membership is $249.00 and is best for those who plan on buying multiple vehicles on a regular basis. Premier members get all the benefits of the basic plan, with the option to bid on multiple vehicles at the same time, for up to $100,000 daily. They also get priority in-location assistance, priority customer service, and phone support.
In order to bid, you must sign up to become a Copart Basic or Premier Member. During the registration process, you’ll need to provide a valid form of ID, any business licenses you have (if applicable), and payment for your membership. Once your registration has been processed, you can start bidding.
Copart has a vehicle finder tool, which allows you to search a vehicle based on vehicle types, makes, damage, and title types. Their inventory includes classic cars, boats, repo cars, ATVs, exotics, motorcycles and more.
There are also “No License Required” vehicles available to individuals in public auto auctions. They feature clean & salvage title cars, trucks, SUVs, motorcycles, heavy equipment & more, in live online auto auctions every weekday. You can also search auction locations by city, state, and country.
If you aren’t able to bid on Copart’s website, there is a Copart Mobile App that gives you all the features of the main website, such as the ability to place bids, make payments, and arrange to have cars brought to your business location. It also contains a Voice Search feature, where you can ask for the vehicles you’re looking for. You can set up notification alerts to let you know when a car on your Watchlist becomes available, when you get outbid, and when you win an auction.
If you’re not able to participate during the day, or there is a time zone difference, Copart offers Night Cap Sales (NCS) for those who are only available to bid in the evening. Night Cap Sales also double as a second chance sale, which provides another opportunity for customers to bid and buy. When looking up inventory available for NCS, the vehicles are grouped by the following regions: Eastern, Central, Mountain and Pacific. Night Cap Sales are held regionally, Monday through Thursday, at 6:00 pm PT. (7:00 pm MT / 8:00 pm CT / 9:00 pm ET.)
Using Copart gives access to vehicle reports from AutoCheck, EpicVin, ClearVin, condition reports, and the Copart Market Guide Report.
Auto Check
The AutoCheck report is available on most clean title vehicles and can be viewed on Copart’s website. Each AutoCheck Report includes information about:
- Previous accidents
- Title records
- Serious past damage or other problems
- Mileage, plus any odometer tampering or breakage
- Overall vehicle history
- Former uses, such as rental, lease and fleet
- Open safety recalls
You can access AutoCheck in 3 steps:
- Step 1: Search clean title vehicles.
- Step 2: On any individual lot details page, look for the AutoCheck icon and “View Report” link in the main vehicle info box next to the vehicle images. (This link only appears for clean title vehicles that have AutoCheck available.)
- Step 3: Click the “View Report” link next to the AutoCheck icon to view the report.
*Note: Copart does not guarantee the accuracy of the information in any AutoCheck report.
EpicVin
EpicVIN Vehicle History and Title Reports start at $8.99 each, with discounts available on multiple reports.
Each EpicVIN Report includes the following:
- DMV title data
- Insurance total loss records
- Vehicle specifications
- Junk and salvage events
- Odometer information
- Open lien status
*Note: Copart does not guarantee the accuracy of the information in any EpicVIN Report.
ClearVin
Includes 40+ data points, such as ClearVin Vehicle Rating, ownership history, insurance records, and title history.
Condition Reports
Condition reports are $35.00 and get you 2+ videos of the internal & external view of the vehicle, and additional photos detailing features and any vehicle damage. You’ll also receive 50+ features, including a review of vehicle equipment, condition and tire information.
Copart Market Guide Report
Each Market Guide Report is $10.00, and includes the following:
- VIN Decode
- NADA Values, including Retail, Trade, Average Trade and Rough Values
- ProQuote Results
- List of Comparable Sales
- AutoCheck Report, if available (for clean title vehicles only)
*Note: Copart does not guarantee the accuracy of the information in any Market Guide Report.
Copart also offers third-party vehicle inspections by their preferred partner, Advantage Equipment Inspections. Inspections start at $134.00, with a 24 to 48 business hour turnaround. You can order up to 48 business hours before a live auction. Inspections are available for passenger, commercial and recreational vehicles. Inspectors are available Monday through Friday during Copart location business hours.
If you win an auction and need your vehicle shipped, Copart offers shipping services to anywhere in the world. Copart shipping will allow you to receive free storage in Copart locations upon receipt of payment.
While Copart is at the top of our list, it may not be a good fit for dealers who don’t want to be restricted in spending. Copart’s basic and premier memberships have good perks, but they do limit how much a dealer can spend daily. If you’re a dealer who likes to go all in to win, this might be a downside for you.
Another downside is that Copart is open to both dealers and non-dealers. While being a registered dealer does have its advantages, the inclusion of public buyers means more competition for vehicles. In this case, dealer-only auto auctions would be better suited for registered dealers.
#2: IAA (Dealers and Non-Dealers)
IAA is an online auto auction with sellers consisting of insurers, dealerships, fleet lease, rental car companies, and charitable organizations. IAA offers 4 different types of auctions, which are IAA AuctionNow, IAA Timed Auctions, IAA Buy Now, and IAA Online Exclusive.
IAA AuctionNow
AuctionNow is an online bidding tool that lists high quality photos and detailed vehicle information. It has live bidding every day and is available on desktop, mobile, and the IAA Buyer app.
IAA Timed Auctions
Timed auctions are auctions where a vehicle is being sold for a specified period of time. This online-only model allows for bidding and sale prior to IAA’s scheduled online auctions. You can sort by auction date, auction branch, and vehicle year.
IAA Buy Now
IAA Buy Now displays vehicles for sale for a specific price. This model allows cars to sell between scheduled auctions.
IAA Online Exclusive
This is designed to highlight and sell a specific segment of vehicles, for example, you can filter for a recreational vehicle or boat auction. There are 4 segments of vehicles that are considered online exclusive:
- Specialty: Bid and buy from a selection of semi trucks and trailers, construction equipment, and RVs, available through scheduled auctions and IAA Buy Now. These are available to bid on every Wednesday at 9:30 AM CT.
- Rec Rides: Contains only recreational vehicles like motorcycles, ATVs, snowmobiles, jet skis, and more. Auctions for these vehicles occur Wednesday’s at 12:00 PM ET.
- Dream Rides: Features classic, exotic, muscle and luxury vehicles. These vehicles run in a weekly auction, every Monday at 1:00 PM ET.
- Virtual Lane: Allows you to see lightly damaged and used vehicles that have been leased by major financing companies. All Virtual Lane vehicles, including condition reports, are available for purchase through IAA Buy Now. This allows buyers to make a purchase at a set price. Virtual Lane inventory is available daily, 24/7.
IAA offers a feature called IAA Interact, which is a free merchandising platform that includes 3 key elements and several tools.
- Imagery: Provides high-resolution images, panoramic video, IAA 360 View, IAA High Resolution Images, and IAA Key Image. IAA 360 View gives buyers an interactive look at the vehicle’s interior and exterior, for a digital experience that replicates an in-person walk around. IAA Key Image features high-quality photos showing the condition and type of vehicle. All vehicles checked into an IAA branch with a key will include an image on the vehicle details inventory page.
- Information: Includes vehicle details such as OEM specifications and part interchange numbers. Also included are SpinCar Feature Tour, IAA Engine Start video, Chrome Equipment Details, and Hollander Part Interchange numbers.
- Personalization: Creates IAA Buyer Recommendations, which uses researching, bidding and buying data to suggest inventory.
IAA also offers IAA Engine Start Video and On-Site vehicle inspections as extra features. IAA Engine Start Video is a 10-second, under-the-hood view with full sound of the vehicle’s engine.
An IAA On-Site Vehicle Inspection is a detailed vehicle inspection exclusively through their inspection partner, CarInspector.us. A representative will visit the vehicle on-site at an IAA branch, assess damage, and provide specific details that may not be visible in photos.
Another advantage for buyers is proxy bidding, which allows buyers to place a pre-bid on a vehicle up to an hour before the auction. The highest pre-bid will be represented by proxy at the auction.
Along with proxy bidding, broker bidding is also allowed. IAA can connect you to a licensed broker who can bid on your behalf. Their network of brokers are licensed to purchase any type of vehicle. Brokers can also assist you with arranging domestic and international vehicle transportation.
IAA Transport
Vehicle delivery enabled with IAA Transport allows buyers of IAA vehicles the ability to coordinate door-to-door delivery, completely online, with real-time status updates. This process is available to destinations around the globe, including the United States and Europe. Europe’s door-to-door service covers delivery to Belgium, Czech Republic, Denmark, Estonia, France, Germany, Latvia, Lithuania, Netherlands, Poland Republic, and Slovakia.
Watch List
IAA’s website and mobile app have a “Watch List” feature. This tool only displays vehicles on your watch list for that sale day. This allows you to focus only on the vehicles you are most interested in bidding on. The list updates in real-time and you can bid on multiple watched vehicles at the same time.
Cost Calculator
Before making your purchase, you can use IAA’s Cost Calculator. This tool shows you a full breakdown of your costs, including bid amount and all associated fees. This also includes IAA Transport costs to your estimated total by adding in the delivery location zip code.
*Note: The Cost Calculator is an ESTIMATE. There is no guarantee that the estimate provided is current or correct, and the Cost Calculator should not be relied upon as the final calculation or verification of total fees.
Once you’ve calculated the costs, you can check IAA’s chart of payment types, to learn what form of payment is acceptable for in-person, online, and IAA Buyer App purchases.
Similar to Copart, IAA being open to both dealers and non-dealers brings the possibility of more competition.
IAA also does not limit a dealer’s spending, which means non-dealers can spend just as much as registered dealers. This could lead to bidding wars or over-bidding.
The benefit of proxy bidding can be a challenge as well, since this allows dealers to place a bid before the auction starts. Someone’s pre-auction bid could be higher than your budget, putting you at a disadvantage right from the beginning.
#3: ACV Auctions (Dealer-Only)
ACV Auction is an online used car auction that runs daily. If you have a dealer’s license, you can join ACV to buy clean title used cars or wholesale inventory, like SUVs, pickup trucks, sedans, hatchbacks, luxury cars, and more.
To verify ACV vehicle’s condition, you can access their condition reports, Virtual Lift service, and Audio Motor Profile (AMP).
Virtual Lift
ACV’s Virtual Lift provides a high-definition image of the vehicle’s undercarriage.
Audio Motor Profile (AMP)
The AMP captures a high quality recording of the engine, so you can listen from your device.
You can also request an inspection, which includes interior and exterior photos of the vehicle, tires, engine, and odometer. Extra features included are high-definition engine sounds, OBDII scan, paint meter, undercarriage, engine sound, and more.
To help you get an idea of a vehicle’s worth, ACV provides dealers a market report. ACV Market Report lists the most up-to-date wholesale pricing in the market.
If you need to transfer your vehicle, ACV ships any vehicle, regardless of where you buy it from. Buyers are also given a 10 day Arbitration window, with an automatic 48-hour extension beyond receipt for any delayed deliveries.
If you decide to pay through a floorplan, ACV offers ACV Capital. With this floorplan, you’ll know your fees upfront, with no hidden title, audit, or Fed-Ex fees. The fee is determined by the amount financed, the term selected, and financing for transportation costs.
With ACV being a dealer-only auto auction, this does play in favor of registered auto auction dealers. However, if you’re not registered, you won’t be allowed to participate in an ACV auction.
Which Online Auto Auction is Best For Me?
Picking an online auto auction can be a tough decision. However, knowing the top 3 choices, along with their features and services, can help narrow down the list for you.
Whether you’re 100% committed to joining an online auto auction, or you just want to try an alternative to traditional auto auctions, it’s always best to know what options are out there and if they meet your criteria.
As you explored our list of the top 3 online auto auctions, you may have noticed we didn’t include ourselves on that list. We do offer online bidding. You can learn more about Big Valley Auto Auction's simulcast to know what to expect when attending.
