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STM317
STM317 SuperDork
8/28/18 11:39 a.m.

Some of their auctions are for clean-titled vehicles that can be purchased by the public. How does online bidding jive with the live, in-person auction? What kind of hidden fees are there? I'm seeing a few deals that seem squarely in "too good to be true" territory. Like unblemished stuff with a "buy it now" for well below market rate. So, what's the catch? Are these vehicles that have been wrecked and repaired? I ran some free vehicle history checks and they turned up nothing questionable, but you get what you pay for too.

sleepyhead
sleepyhead Dork
8/28/18 2:10 p.m.

I think this thread:

https://grassrootsmotorsports.com/forum/grm/learn-me-auto-auctions-copart-brokers-iaas-etc/132812/page1/

covers a bunch of the basics.  You can hunt around on John Welsh's threads:

https://grassrootsmotorsports.com/forum/grm/how-to-find-out-how-much-cars-sold-for-on-copart/130358/page1/

https://grassrootsmotorsports.com/forum/build-projects-and-project-cars/the-sumo-wrestler-01-mitsu-montero-limited/130334/page1/

to pick up some more background info; I think John's been the biggest/most-vocal user of IAAI (instead of CoPart) around the board

John Welsh
John Welsh Mod Squad
8/28/18 2:49 p.m.

I will answer whatever questions you have after reading all the above.  

I you have private questions, it is easier to reach me directly via email....jwelsh02...yahoo....  Send me the email and I will send you my number too.  

Professor_Brap
Professor_Brap GRM+ Memberand HalfDork
8/28/18 2:56 p.m.

I have had pretty good luck with IAAI in the past. I prefer copart only because its closer to me location wise.  

Fitz
Fitz New Reader
8/28/18 4:55 p.m.

I bought a prius for cheap through Co-Part that was a trade in through some online site. Clean title, runs and drives, minor wear and checked out in person. I bought a carfax for it and it had regular dealer maintenance up until like 2 months before I bought. After driving for a week, it threw a code about the hybrid half of the cooling system that explained the 3 trips for coolant servicing right before it was traded in. I thought I was going to require a new radiator but flushing it eventually did the trick.

The main catch is you can't go thoroughly test drive it. Runs and Drives essentially means they could idle it around the lot for some short distance at some point while the car was there. That doesn't mean it was safe to drive at speed for any kind of distance.

STM317
STM317 SuperDork
8/29/18 4:57 a.m.

Thanks for the info. The fee schedule was especially helpful.

I'm still a bit curious about how well an online auction can run simultaneously with a live auction. Seems like you could easily think that you've bid enough to win the item only to find out that somebody from the other medium actually outbid you. That could be frustrating. I guess you just have to lay out your max bid and let the chips fall where they may, or utilize the "buy it now" option if it's available.

Today is auction day, so I'll probably create an account and watch a bit more before I dive into this too much. I'm guessing that the vehicles that I'd be interested in will have some competitive bidding. That way I can look for trends while I build up a bit more disposable income to play with.

Somebeach
Somebeach Reader
1/9/19 7:59 a.m.

I am being tempted by this again. Found a car I may want to bid on.  Is the bottom line in order to bid, wether you win or lose you have to pay the $200 registration fee?

 

Also do you dare bidding on one with out going to check it out in person?

John Welsh
John Welsh Mod Squad
1/9/19 9:12 a.m.
Somebeach said:

 Is the bottom line in order to bid, wether you win or lose you have to pay the $200 registration fee?

You don't exist in the eyes of IAA until you pay $200 to become a "member" and get a badge with your name and face on it.  That means, you have to pay the $200 at least a minimum of a day (I recommend longer) before your item goes live on the auction.  You also can not enter the grounds to even look at the cars without the badge and you don't get the badge until you spend the $200.  

Also, for Mr. Beach who is in Ohio also...  The IAA locations in Ohio only allow a Public Buyer (non-dealer) to buy 5 salvage vehicles per year.  This is by calender year.   I happened to start in March or the 3rd month.  This then leaves me 9 months to buy 5 cars and then the following year in 3 months I can buy another 5 cars (maximum).  If I did buy 3 more before march then in the remaining 9 months I could only buy 2 more.  This then kinda gets me 10 cars per year (if you only play for 1 year.)  If you start in January (the beginning of the calender year) I see no way you'll be able to buy 10.  If that even maters to you.  

Sidenote: the 5 per year limit is Salvage vehicles only.  There seems to be no limit on Clean title cars which are mostly Repos.  These clean title cars are only a small percentage of IAA offers to Public Buyers and a lot of the repos that are available to the Public are total CRAP. 

 

Also probably worth noting... On IAA you can't watch the live bidding unless you have a badge (active account number) and the only way to get the badge is to pay the $200.  

John Welsh
John Welsh Mod Squad
1/9/19 9:16 a.m.
Somebeach said:

Also do you dare bidding on one with out going to check it out in person?

I recommend that you need a HIGH threshold for "gambling" if you buy one of these cars site-unseen.  I bought one that way and the results were fantastic but I also only had $400 into the gamble.  

I can't stress enough that every week when I go look at the cars I'll have 10-15 that I am "interested in" and there is always one that is at the top of my list...before I get there.  Sooo, many times, once I actually lay hands and eyes on that "#1 car" I come to the realization that I would not want that car at any price.  

Somebeach
Somebeach Reader
1/9/19 11:07 a.m.

In reply to John Welsh :

Great information. Thanks. I am trying to decide if I want to make the gamble or not. If not for the $200 fee I would definitely be bidding on the item. Then if I didn’t  get it then oh well. 

The car is about 2 hours away from me so I am not going to be able to make that drive to go check it out anytime when they are open. 

The 5 car limit doesn’t bother me, I think my wife would have my head before that anyways .

Hopefully I am not too forward but I also sent you a PM John  

 

rman
rman
7/14/19 9:18 a.m.

In reply to John Welsh :

hi John, 

I am trying to learn and optimize buying on IAAI. I have spent the past couple of months trying to figure out on Copart and finally decided that the risk wasnt worth it for me, also the accusations of shill bidding completely turned me off. I am now focusing my effort on IAAI  to buy a car, most likely a Hybrid (Toyota, Lexus or Ford). Is there a broker that you could recommend for me to go through?. thanks. -Rman (rman667 at gmail)

minivan_racer
minivan_racer UberDork
7/14/19 9:22 a.m.

What's the website?  I've been looking at Indiana public auto auction and the Marion county auto auction and copart.

John Welsh
John Welsh Mod Squad
7/14/19 9:27 a.m.

My state, Ohio, allows non-dealers to buy most of the vehicles.  Therefore, I have never used a broker and have none to recommend.  

I should point our that at IAA when you buy as a non-dealer (public buyer) they charger you higher fees than if you were a dealer.  In general, IAA sort of seem to make themselves the broker. 

So, if you are asking me to buy a car for you the reality is that I have to pay the higher non-dealer fee and then I would have to charge you something to make it worth my time so you are then getting charged what seems like a double broker fee.  Also, as a non-dealer, I have to pay Ohio sales tax (6.75% in my area) on my purchases before I can sell to you.  The general answer is you are probably better off just with a broker.  

John Welsh
John Welsh Mod Squad
7/14/19 9:30 a.m.

In reply to minivan_racer :

IAA in Indy and it says that they sell to non-dealers (public buyers).

In Indy, the vehicles can be viewed on Tuesdays from Noon-4:00 and the auctions are Weds 9:30am (which you can bid on from your computer, or pre-bid) This upcoming week the Indy location has over 800 cars to auction and 700+ are open to the public.  

I just happen to live 20 minutes from the Cleveland area location of IAA

rman
rman New Reader
7/14/19 9:35 a.m.

Even if I have to go through a broker, I pay the $200 annual fee right?.

Also i am trying to understand the steps involved..i am in State of Washington and most listings are labelled "dealer only" so i presume i have to go through a broker

Are these steps correct?

Register and pay $200 annual fee on IAAI

Contact broker and reach an agreement /pay fees if any

Bid on vehicles [will I be using the broker's account?]

Win auction, then what?

How will I obtain the title and car in my name and possession? I presume IAAI will release the title in the broker name and I buy from the broker correct?

 

 

 

 

John Welsh
John Welsh Mod Squad
7/14/19 9:48 a.m.

Even if I have to go through a broker, I pay the $200 annual fee right?.

Also i am trying to understand the steps involved..i am in State of Washington and most listings are labelled "dealer only" so i presume i have to go through a broker

Are these steps correct?

  • I think, yes.  A proper broker can buy anything offered and then sell it to you.  

Register and pay $200 annual fee on IAAI

  • I am not sure if you have to pay $200 to go through a broker.  I never have.  However, I think that if you do not pay the $200 you will not be allowed on the lot which then means no pre-sale inspection by yourself.  

Contact broker and reach an agreement /pay fees if any

  • I am sure there will be broker fees.  I also think that a broker should be able to answer most your questions.

Bid on vehicles [will I be using the broker's account?]

  • I'll bet you do not have self-bid capability.  I'll bet that you tell the broker your max and then the broker actually puts in the bid.  But, the broker probably has more answer on this.  

Win auction, then what?

How will I obtain the title and car in my name and possession? I presume IAAI will release the title in the broker name and I buy from the broker correct?

  • IAA sells the car to broker/dealer and you buy from the broker.  Not that un-different from any car sale.  

 

Very important, if you are buying "salvage vehicles" (not fit for the road), make sure you understand your state's rules and fees for putting that car back on the road (if that is your intention.)  These rules and costs seem to vary greatly by state and Ohio is pretty easy/cheap but rather strict on the rules.  

STM317
STM317 UltraDork
7/14/19 9:52 a.m.
minivan_racer said:

What's the website?  I've been looking at Indiana public auto auction and the Marion county auto auction and copart.

Current Indianapolis location inventory

rman
rman New Reader
7/14/19 9:55 a.m.

In reply to John Welsh :

thanks, that helps a lot. I will approach contact a few brokers and continue my search on finding a reputable one based off of customer testimonials.

sockpuppet
sockpuppet New Reader
7/14/19 10:02 a.m.

Here are the current IAA dealer fees.  This will give you an understanding of your chosen broker's real costs.  

Dealers:

 

Non-dealers (public)

Knurled.
Knurled. MegaDork
7/14/19 10:32 a.m.

https://www.iaai.com/Vehicle?itemID=32521480&RowNumber=61&loadRecent=True

 

I have too many cars I have too many cars I have too many cars

John Welsh
John Welsh Mod Squad
7/14/19 10:58 a.m.

In reply to Knurled. :

Looks great. I intend to be there tomorrow at the Cleveland location to look at some others if you want me to look over the Miata.

I had not seen the Miata when I looked over this week's offerings. The reason I did not see it is because you have to be a dealer to bid on it.  I have resorted to just immediately sorting the listing so I only see what I can actually bid on.  This eliminates some of the disappointment. Ha.

Of about 600 cars per week, in Cleveland,  about 100 are dealer only

John Welsh
John Welsh Mod Squad
7/14/19 6:09 p.m.

In reply to rman :

It was fun to talk to you on the phone.  Hard to imagine we went to the same University at the same time.  

Here are some links to some other purchases I have made via IAA that I referenced on our call.  

Vibe, Montero, Avalon 

2007 Focus

2010 Mercury Milan

2004 Prius

Domicab
Domicab
12/8/20 4:19 p.m.

IAAI AUCTIONS

I have recently purchased a vehicle from this company...based on the listing the car was able to run and drive, only a small body damage.... in the pictures it looked very good and ready to drive but at the time of pick up the vehicles interior was full of dirt, stained, the driver seat ripped and worst of all A BLOWN ENGINE (Not specified in the listing)

After a purchase you cannot return the vehicle, all they told me on the phone was....DEAL WITH IT YOURSELF

not only they sold it for a high price because it was only a small body damage but now i cannot even resell this junk box because with a blown engine no one wants it and fixing it goes beyond the market selling price.

Wont recommend buying fom them!

John Welsh
John Welsh Mod Squad
12/8/20 4:43 p.m.
In reply to Domicab :
John Welsh said:
Somebeach said:

Also do you dare bidding on one with out going to check it out in person?

I recommend that you need a HIGH threshold for "gambling" if you buy one of these cars site-unseen.  I bought one that way and the results were fantastic but I also only had $400 into the gamble.  

I can't stress enough that every week when I go look at the cars I'll have 10-15 that I am "interested in" and there is always one that is at the top of my list...before I get there.  Sooo, many times, once I actually lay hands and eyes on that "#1 car" I come to the realization that I would not want that car at any price.  

 

John Welsh
John Welsh Mod Squad
12/8/20 4:46 p.m.

In reply to Domicab :

What'cha buy? 

Did ya save the listing photos?  Lets see 'em.

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