Copart
One of the two largest US salvage auction houses; primarily online, with 200+ physical yards.
Copart (NASDAQ: CPRT) is one of the two largest salvage and used vehicle auction operators in the United States, alongside IAA. Founded in 1982, Copart now operates more than 200 physical storage yards across the US, Canada, UK, Germany, Spain, UAE, Brazil, Finland and elsewhere, with an entirely online bidding platform that handles over 3 million vehicle sales per year.
The bulk of Copart inventory comes from insurance carriers liquidating total-loss vehicles — cars and trucks that have been declared uneconomical to repair after an accident, theft recovery, flood or fire. The remainder is fleet liquidations (rental, lease returns), bank repos, charity donations and private consignments. Most vehicles carry salvage titles at sale.
Bidding is conducted via Copart’s Virtual Bidding System (VBS), which streams live audio of the auctioneer while displaying high-resolution photos and condition data. Buyers must register with Copart and post a deposit; many states require a dealer licence to participate in unrestricted bidding, while others allow public bidding through a registered broker. Copart adds a buyer fee and storage fees on top of the hammer price.