IAAI is the second giant of the US salvage auction market, right behind Copart. If you are wondering what IAAI actually is, how a timed auction works, how long bidding takes and how to buy a car there as a regular person, this guide walks you through the whole process.

What is IAAI and how does it work?

IAAI (Insurance Auto Auctions) is an American vehicle auction company founded in 1982, with around 200 branches across the USA. Most of its inventory comes from insurance companies selling vehicles written off after accidents, floods, hail or theft recovery, plus cars from fleets, rentals, banks and dealers. Buyers browse the catalog online, inspect photos and condition information, then bid over the internet - the branch is mainly a storage yard, not a place you have to visit.

Just like on Copart, a big part of smart buying on IAAI is knowing the numbers before you bid. You can check a vehicle's auction history and final prices for free by entering its VIN on BidCheck.

How to register on IAAI

You can browse IAAI listings without an account, but bidding requires registration. A public buyer account lets you bid on part of the inventory - which part depends on the vehicle's title and the laws of the state where it is located. Salvage-title vehicles in many states are reserved for licensed buyers, so private buyers and importers usually bid through a registered broker, who provides the license, handles payment and organizes export shipping.

How to bid on IAAI

IAAI sells most vehicles through timed auctions combined with pre-bidding. You can place a pre-bid as soon as the lot is listed, and the auction itself happens on a scheduled day for each branch. Some lots also have a "Buy Now" price, letting you skip the auction entirely and purchase immediately.

What does "timed auction" mean on IAAI?

A timed auction is an auction with a fixed time window instead of a live auctioneer. Bidders place bids online, the current highest bid is visible, and when the timer runs out, the highest bidder wins - as long as the seller's reserve is met. If the reserve is not met, the sale may need seller approval, similar to Copart's "On Approval" outcome.

How long does bidding on IAAI take?

The final phase of a timed auction takes minutes per lot, but the whole cycle is longer: lots appear in the catalog days or weeks ahead, pre-bidding stays open until auction day, and each branch runs its sales on a weekly schedule. If a car does not sell, it usually comes back in a later auction.

How to buy and collect a car from IAAI

After winning, you pay within a few business days - for larger amounts usually by wire transfer. On top of the hammer price come IAAI's buyer fees and service fees, and storage charges if the car stays on the yard too long. Then the car needs transport: from the branch to the port and, for imports, by container or roll-on/roll-off ship to the destination country. Buying through a broker means the broker handles all of this against a single invoice; our US import cost guide shows how to estimate the total.

How to check what a car sold for on IAAI

IAAI does not publish an archive of finished auctions, so the easiest way to see what a specific vehicle sold for is to look up its VIN on BidCheck - you will see past IAAI and Copart listings with photos, damage descriptions and final bids. It is the quickest reality check both for a car you plan to bid on and for one that was already imported and is now for sale locally.

IAAI or Copart - what is the difference?

For a buyer the two platforms are very similar: both sell mostly insurance vehicles, both run online auctions, and fees are in the same ballpark. IAAI relies on timed auctions, while Copart runs fast live virtual auctions; inventory overlaps but is not identical, so serious buyers watch both. Compare current lots on our IAAI listings and Copart listings, and if you want the full background on both giants, read our article about IAAI and Copart auction data aggregators.

Summary

IAAI is a solid place to buy a car from the USA if you prepare: check the VIN history, compare final prices of similar vehicles, know the fees and plan transport. Start with our guide to importing a car from the USA, then browse current IAAI vehicles on BidCheck to see real prices from real auctions.