Four More Auto Auctions Now Accepting AuctionACCESS

AutoTec recently announced that AuctionACCESS, the number-one dealer registration system in North America, has added four more wholesale auctions to its long list of participating locations: Encheres d'Automobiles St-Pierre L'tee (ESP) in Quebec, Canada; ADESA Miami in Opa Locka, Florida; Premier's Las Vegas Auction in North Las Vegas, Nevada; and Sanford Auto Dealers Exchange in Sanford, Florida.

AuctionACCESS streamlines the dealer registration process, enabling dealers to use a single photo ID card for entry at more than 200 participating wholesale auto auctions, including ADESA, America's Auto Auction, Auction Broadcasting Company, Brasher's, BSC America, Manheim, ServNet and numerous independent auto auctions.

"We are excited to have these four new auctions onboard," said AutoTec president Charles Redden. "And excited to provide our dealer members streamlined access to four more buying and selling channels."

AuctionACCESS is also very beneficial for the participating auctions, Redden added, because it allows them to manage their dealer information more quickly and efficiently, which gives them more time and energy to devote to offering superior service to their customers. And in addition to drastically simplifying the dealer registration process, AuctionACCESS also serves as a valuable security measure by denying entry to curbstoners and unlicensed dealers.

Each of the four new locations has already begun accepting AuctionACCESS cards, Redden said. Encheres d'Automobiles St-Pierre L'tee started on September 29th, ADESA Miami began on October 6th, Premier's Las Vegas Auction on October 9th, and Sanford Auto Dealers Exchange most recently on October 20th.


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CLASSIC LUXURY AND STYLE BRING TOP BIDS AT AUCTION

Classic luxury coupes and convertibles from the fifties and sixties continue to bring top bids in the Canadian collector car market TORONTO, Ontario – Classic luxury coupes and iconic convertibles brought top bids at two recent Toronto-area collector car events hosted by industry veteran Dan Spendick, indicating a confident and active market for motoring nostalgia. Flying under a new banner, Spendick’s Collector Car Productions offered an eclectic variety of American and European luxury vehicles and values at the recent Al Webster Collection auction in Bradford and the annual fall Classic Car Auction of Toronto held at the International Centre in Mississauga.

Former owner of 400 Auto Wreckers and racer Al Webster parted with 40 vehicles from his private collection at the recent single day auction event including a baby blue 1953 Cadillac Eldorado Convertible that brought $133,750 and a rare 1958 Pontiac Parisienne 348 Tri-Power Convertible that sold for $95,230. Other impressive classics from Webster’s forty years of collecting were an impeccably restored 1946 Pontiac Deluxe Woodie Wagon that brought $90,950, a two-tone 1956 Mercury Convertible at $63,130 and an exceptional 1962 Oldsmobile Starfire Convertible that found a new buyer at $55,640.

“We are seeing an increased level of confidence in the collector car market based on the impressive attendance and interest at these past events”, remarked Collect Car Productions founder Dan Spendick. “It’s a great time to be in the market for a classic car as there are many opportunities for both buyers and sellers”, added Spendick.

The top five sellers at the annual Classic Car Auction of Toronto were a rare and luxurious 1998 Bentley Continental 'R' Coupe that drew a final bid of $101,200 followed by an original fuel injected 1961 Chevrolet Corvette Convertible that sold for $79,200. Rounding off the top sellers were a classic 1954 Packard Caribbean Convertible at $66,000, a national award winning 1956 Ford Thunderbird Hardtop at $62,700 and a Canadian-built 1956 Monarch Richelieu Convertible at $60,500


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INSURANCE AUTO AUCTIONS ANNOUNCES A NEW BRANCH LOCATION IN ALIQUIPPA, PENNSYLVANIA

Insurance Auto Auctions, Inc., the leading hybrid model salvage auto auction company, today announced their new branch location in Aliquippa, Pennsylvania. This new facility will be named IAA Pittsburgh and the company will rename its Gibsonia, Pennsylvania branch to IAA Pittsburgh-North. This new location will provide salvage remarketing services and offer additional storage and sale capacity to its customers. This marks the third IAA branch location rooted in the greater Pittsburgh area and the ninth facility in the state.
“The Pittsburgh area is a fast-growing market for us and we are pleased to announce this third location that is complementary to our existing branches in the area.” said Tom O’Brien, CEO. “We are pleased to offer more than 150 corporate-owned branch locations throughout North America, which results in more choice and selection for our customers. IAA will continue to seek out opportunities in new and existing markets that support customer needs and are strategic locations.” O’Brien stated.
Insurance Auto Auctions portfolio of facilities continues to expand; allowing buyers and sellers even more choices in their bidding and buying with IAA’s Hybrid Auction Model combining live and live on-line bidding and buying. IAA auction preview dates and times vary from facility to facility. All preview times are identified on the Branch Location information page on IAA’s website.


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Auto auction locates in Aliquippa

An auto auction business with locations across the country is the newest tenant in the Aliquippa Industrial Park.

Insurance Auto Auctions, based in suburban Chicago, has opened a new location in the industrial park, taking up about 12 acres on the site of the city’s J&L mill. The new shop, the third the company has in Pittsburgh, will provide salvage services, storage and sales for its customers.

“The Pittsburgh area is a fast-growing market for us,” Tom O’Brien, the company’s chief executive officer, said in a statement. “This third location ... is complementary to our existing branches in the area.”

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IAA provides live and online bidding services and runs multiple auctions each week across the country. It operates 150 facilities, including nine in Pennsylvania.

Tom Stoner, Aliquippa’s city manager, said the company approached the city earlier this year about finding a lot in the park.

“They had checked out the park, and I guess they liked what they saw,” Stoner said. “We’re always trying to bring new businesses to the city, and I’m happy to say this one worked out for us.”



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Home And Insurance Auto Auctions

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Auto Auctions - Things To Know

Buying a car is always a big responsibility. But making that choice on where to buy your car is a huge decision that needs to be thought through carefully. There are many choices on where you can buy your next automobile. You may buy it from a car lot or even off of EBay but have you considered local auto auctions as a place to get your next used car? Auto auctions are becoming quite popular. But there are some things you absolutely should consider before making such an important purchase from an auction. Are you getting the best deal for your money? What happens if something goes wrong? These are questions that you have to think about when it comes to your new purchase. In this article we will cover what auto auctions are and how they can either help or hinder your pursuit of a new automobile.

Why would I go to auto auctions?

Many people go to auto auctions because they can get a better deal on a car than they can at a local dealership. Many of the cars sold at auctions are from repossessions or from individuals who want to sell their car but do not want to go through the hassle of listing it in the local newspaper. If you are looking to find a decent vehicle at a low price then you should definitely check out the local auto auctions held in your state. It may involve you driving a bit but it may well be worth it to find the auto that you have been looking for.

How do I know if my new purchase comes with a clean title?

Usually the auctioneer will let the crowd know whether or not the vehicle comes with a clean title. Before the auction begins most people are given the opportunity to check over the vehicle and ask questions. If you are not sure of what a clean title is, it is when a vehicle is free from liens and has never been wrecked or at least not wrecked to the point where it is now a salvaged car. If the auctioneer does not volunteer the information then you definitely want to ask before you make the purchase. There is nothing quite like finding out that your new vehicle is still under a lien or has been wrecked to ruin the good feeling of having a new car.

Where do auto auctions get their cars?

Auto auctions get their cars from a variety of sources. The cars may be from repossessions foreclosed by the lender or the bank. Some cars come from private owners who want to sell their car in an auction environment rather than through the newspaper. EBay has turned into a popular auto auction site with many dealerships selling their inventory through the website.

What happens if I buy a car and it does not run as the seller said it would?

If the seller guaranteed you that the car had no obvious defects but you later found out that the transmission was slipping it may be a case of the seller not knowing about the defect. This is where the law comes into play. The law must factor in what the seller disclosed and what he or she did not disclose to the buyer before the purchase. There are some cases where the seller did not realize there was a potential flaw with the car when it was sold. Many sellers will sell the car "as is" and state any obvious defects that they are aware of. If you asked them specifically about something on the car and it was very obvious that they lied, you may have a case where you can get your money back. You will have to consult with a local attorney who can tell you the laws of buying a car in your state.

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All about Damaged Car Auctions

If you are a person who is very budget-conscious buyer who’s looking for a car and getting a brand new or even a quality second-hand one is not your thing, then you can go for a damaged car auction. The same thing goes for individuals who like the challenge of making diamonds out of dirt.

Damaged cars are probably the lowest-priced automobiles out there in the markets today. A brand new car basically loses a little less than a quarter of its value during the first time it is driven out in the street after the purchase, a damaged car has lost most of its market-value after years of torture or after a certain unfortunate incident. However, value is relative to the things that are done to the damaged car. Value can be restored eventually.

Damaged cars should be seen on the level of their “potential” restored value. Of course, no one will ever re-buy a damaged car if he has no intention of making it better for some future purpose. Auctions are great ways of getting one’s hands on damaged cars. These events are participated upon by different individuals who have different intentions. Some intend to reconstruct the cars to use them eventually for transportation. Some intend to learn how to make repairs and modifications and so they use these cars as experiments. But whatever the motivation, damaged cars are still popular to the masses.

What are some things that people need to know about damaged car auctions? Damaged car auctions are comparable to the regular car auctions. Here are some basic things that people who are participating in damaged car auctions should take into mind:

1) Know why you would want to have a damaged car

It is all a matter of purpose. People go to a regular car auction to be able to find great quality cars at great bargains. In a damaged car auction, people don’t go to find great quality cars but they look for potentially restorable cars. If you are buying a damaged car to restore it and use it as a mode of transportation in the future, you should give it good thinking.

2) Know your costs

Get the list of damaged cars that are being auctioned. From the list, choose the model that you would want to get your hands into. Do a little research and find more information about the said model, especially with regards to its current market price. Setting prices that you are willing to pay for a damaged car can be a little bit tricky, so our suggestion is that you make a table, or a matrix where in you put in different conditions and different prices that go along with such conditions. For example, “damaged hood” and “damaged tail lights” should given values and these should be subtracted to the price that you are willing to pay for the car.

3) Compare your prices

The main point in getting a damaged car is to get a restorable car and hopefully, the whole cost of acquiring the car and the costs of restoring it into a tolerable condition. If you are better off getting a quality second-hand vehicle than getting a damaged car and restoring it to its glory, then do so. Take note that some of the spare parts for such damaged cars can be hard to find. Also, there are some conditions that can’t simply be repaired and a whole overhaul is needed.

4) Thorough inspection is a must

Before bidding for a certain car of your choice, make sure that you inspect the vehicle thoroughly. Get to the venue early and start searching for the car and inspect it. Buyers should especially be wary about flood-damaged cars. Buying flood-damaged cars can have nasty repercussions during later stages because some of the damages that flood inflicts into cars cannot be easily seen and are permanent.

5) Secure all the papers

Don’t forget to secure all the papers if you were successful in buying a damaged car. A damaged car is still a car and the papers should be intact for future purposes.

Damaged cars connotes negative thoughts and impressions, however, it’s all about mindsets. One should look at them in terms of their potential and how this potential can be actualized. Great buys are never easy to have, but with the right mindset and strategy, one can make diamonds out of dirt through restoring damaged cars.

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Participating At Auto Auctions

If you are looking for a hot deal on a used car, you can get one at auto auctions. There is no better place than an auction to get the bargain of the century when it comes to most items. But you have to be careful that you do not get buyer's frenzy and start bidding out of control.
There are auto auctions all over the United States and a lot of them in your city. You can usually find them at car dealerships, police lots and pretty much everywhere. One way to find auctions is to look in the newspaper for ads. You can even find car auctions online.
Prior to attending a car auction, find out if you have to sign up to attend. In some cases, you can just sign in when you arrive at the auction. In other cases, you have to sign up prior to attending. Make sure that the auction is open to the public.
You are going to have to buy the car as is. There are usually no warranties or guarantees given with the car. You are also going to have to have cash to pay at the auction. In some cases, such as is the case with online auto auctions, you can pay within a certain amount of time with a cashier's check. Some dealers take Paypal as well.
Make sure that you do not get into buyer's frenzy when you are buying a car auto auctions. Instead of setting your sites on one car that you just have to have, pick out several cars that you like and have a price in mind that you want to spend for the car. Do not go higher than that price that you set in your mind. Auctioneers are experts at getting people frenzied so that they feel they are winning a car in an auction. You are not winning, however, if you pay more than you would on the lot.
Another thing you want to make sure of is that the dealer is reputable. You do not want to go to a car dealer that will end up not having title for the car. There are ways to get lost titles for cars, but you should be familiar with them before you attempt this and also make sure that the car dealer who is auctioning the car is legitimate. You do not want to be purchasing a stolen vehicle.
Auto auctions can be a lot of fun an can be a great way to get a bargain on your car. Why not check out auto auctions online or in your city the next time you want to get a good deal on a used car.


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Insurance Auto Auctions Drives Record Returns for Its Customers

Insurance Auto Auctions, Inc., a leading provider of automotivesalvage and claims processing services in the United States,today announced record vehicle returns during the secondquarter.
IAA's dual bidding strategy has continued to drive more buyersto the Company's auctions than ever before, resulting inincreased bidding activity and higher vehicle returns for itsinsurance company suppliers.
"Combining the feedback we have been receiving from ourcustomers with our internal data, we believe our vehicle returnswere the highest in the industry during the quarter, which wefeel is a direct result of our dual bidding platform andimproved levels of customer service," said Tom O'Brien, CEO. "Onaverage, our returns have increased more than $300 per unitcompared to 2003, providing a significantly better return forour insurance company suppliers. Our live auctions, most ofwhich feature Run & Drive(R) auction lanes, are supplementedwith our state-of-the-art Internet bidding capability, givingour growing customer base the flexibility to see and bid on ourvehicles up close or through the Internet from anywhere in theworld in a real-time setting. Enthusiastic buyer support of ourauction model is clearly evident from the increase in buyerparticipation we have experienced, both at live auctions and viathe Internet. By encouraging more buyers to come on to ourbidding platform than ever before, we believe that during thequarter we were able to generate more bidding activity and thehighest vehicle returns in the industry."
Commenting further on the Company's recent operatingperformance, O'Brien said, "We haven't missed a beat throughoutthe organization since the close of the Kelso & Companyacquisition in late May. The transaction has allowed us to focuseven more of our time and energy on improving our operations andservice levels to our customers, translating into much higherreturns for our suppliers and higher profits for IAA. TheCompany generated revenues of $71.9 million in the secondquarter, compared with $60.0 million in the same quarter of2004. Gross profit margins improved to 26% in the secondquarter, up from 22% in the same quarter of last year. We alsocontinued to strategically expand during the quarter,specifically in Jacksonville, Altoona and Charleston, providingIAA with a greater geographic reach to meet the needs of ourcurrent and potential customers. Going forward we will continueto target new strategic opportunities that will further increaseour buyer base and maintain our momentum of generatingsignificantly higher returns."
S-4 Filing: Insurance Auto Auctions also filed an S-4 today thatprovides supplemental financial information to the resultsprovided herein. Please refer to this document for additionalfinancial information about the Company and its quarterlyresults.
About Insurance Auto Auctions, Inc.: Insurance Auto Auctions,Inc., founded in 1982, a leader in automotive total loss andspecialty salvage services in the United States, providesinsurance companies with cost-effective, turnkey solutions toprocess and sell total-loss and recovered-theft vehicles. TheCompany currently has 80 sites across the United States.

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Insurance Auto Auctions

Insurance Auto Auctions Inc. provides salvage processing solutions to the insurance companies and other vehicle suppliers in the United States. The company provides auction solutions for the redistribution of damaged vehicles, recovered stolen vehicles, and other salvage vehicles principally on a consignment basis or purchase method. It offers I-bid LIVE, a live auction Internet bidding solution; CSA Today system, which enables insurance company suppliers to enter vehicle data electronically and then track and manage the progress of salvage vehicles; BidFast service that provides insurers with binding bids for salvage vehicles that historically may have been owner-retained; FastTrack, a total-loss appraisal service, which identifies, appraises, and moves probable total-loss vehicles; and FastTow service that provides towing services. The company also offers its vehicle suppliers a national salvage network that allows an insurance company supplier to consign its salvage vehicles to a call center; and salvage services for specialty vehicles, such as trucks, heavy equipment, farm equipment, boats, recreational vehicles, and cars. In addition, Insurance Auto Auctions provides certain insurance company suppliers with anti-theft fraud control programs for vehicle salvage processing. The company was founded in 1982. It was formerly known as Los Angeles Auto Salvage, Inc. and changed its name to Insurance Auto Auctions, Inc. in 1991. Insurance Auto Auctions is based in Westchester, Illinois. Insurance Auto Auctions Inc. operates as a subsidiary of Axle Holdings, Inc.


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