Auto Auctions (copart or iaai) question

[Rigmaster]

so they have max price for the cars ($600) in general?

uhh, no.

Some have a cap on the FEES at around $5-600, but some use a percentage of the sale price to base the fees on so there is no limit.

For example, IAAI has the following fees:

(based on a $2500 car purchase by a "public" buyer)
Buyer fee: $350
Internet bid fee: $49 (only if you use their internet bidding system to buy the car).
Pullout fee: $20 (essentially a fee for them to load the vehicle on your truck/trailer- NOT negotiable, but it is not charged if you use their delivery service to have the vehicle delivered to your home/shop)



So, in this example, a car you bid $2500 on cost you $2919.


Bret