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AutoBidBroker

FAQ Categories: How to Bid

Types of Auctions

AuctionNow™ – AuctionNow is IAA’s digital bidding platform. It has four bid status messages with color backgrounds so they are easy to recognize at a glance. They include green for “High bidder” and “Reserve off”, red for “You’ve been outbid”, and blue for “Bidding in progress.” The “Outbid” bid status persists for a given buyer as long as they are losing on that stock. IAA Timed Auctions™ – Timed Auctions is a new way to bid, buy, and get an exclusive first look at inventory before it goes to the live auction. Instead of going into a regularly-scheduled auction, vehicles in Timed

By |September 28th, 2021|Comments Off on Types of Auctions

When can I start bidding?

After you become a member of AutoBidBroker, place the security deposit, and upload your government-issued photo ID, you will receive login access to IAAI.com and your bidding privileges will be enabled. Every auction has two phases. 1: Preliminary Bidding The length of Preliminary Bidding varies from lot to lot. Preliminary Bidding will last until the Sale Date in the Sales Information section of the lot page. 2: Live Auction The Live Auction starts 1 hour after Preliminary Bidding ends. Live auctions typically have a length of only a few minutes. You may join a Live Auction from any lot page with

By |September 19th, 2021|Comments Off on When can I start bidding?

What is the seller’s minimum bid price?

The seller’s minimum bid price cannot be disclosed during the auction. However, this will be revealed to you when the auction ends if you are the high bidder

By |September 19th, 2021|Comments Off on What is the seller’s minimum bid price?

The odometer reading say “Not Actual”

There are many causes for this. Some of the causes, for example, The Odometer was replaced with an aftermarket unit, The Odometer is digital and the battery is dead. “Not Actual” indicates that the odometer reading is not accurate.

By |September 19th, 2021|Comments Off on The odometer reading say “Not Actual”

Starting Point

Insurance Auto Auction has a limited amount of vehicles that do not require a special dealers license, but the majority of the Clean and Salvage title vehicles do require a special dealers license to bid. This is why you will need a Broker to assist you with your bidding. AutoBidBroker is a registered broker for IAA, that provides you with exclusive access to bid and buy IAA vehicles. No dealer license is required! We will take care of the licensing for you and also provide you with a very simple process to buy your vehicle. Rember, AutoBidBroker is independent of IAA.

By |September 19th, 2021|Comments Off on Starting Point

Seller’s response to my “Make an Offer”

The seller has until 8:00 pm Central Time the next business day to accept, reject or counter the bidder’s offer at their discretion. If the customer’s bid is accepted, you will be contractually bound to purchase the vehicle for your bid price + any applicable auction and AutoBidBroker fees.

By |September 19th, 2021|Comments Off on Seller’s response to my “Make an Offer”

I was the high bidder. What happens now?

The high bidder on an auction with a sale status that’s on Minimum Bid or on Approval must wait for the seller to accept, counter, or reject your bid and the Seller has until 8:00 pm Central Time one business day after the end of the auction to reply. At any point during the approval process, the customer may increase the bid to the next highest increment, keep the current bid or accept the seller’s minimum bid. If the seller accepts the high bid within the approval window time, the customer will be obligated to purchase the vehicle.

By |September 19th, 2021|Comments Off on I was the high bidder. What happens now?

How to counter a seller’s offer?

From the vehicle lot page, you can counter the seller’s offer. You have three additional options available to “Increase or Keep the Bid”, or “Accept Minimum Bid” Remember: When you make a counter-offer it cannot be canceled. Once the counter bid is submitted, the customer is obligated to pay the amount of the offer + all the fees that they submitted or authorize. The seller has until 8:00 pm Central Time the next business day to accept, reject or counter the offer at their discretion.

By |September 19th, 2021|0 Comments

How can I bid on more than one car?

Only Supreme Membership or a Premium Membership can bid on as many vehicles as they wish. There will need to be a minimum $600 in deposit for each vehicle you wish to bid on. To increase your bidding limit, add additional funds to your security deposit by Visa, MasterCard, American Express, Discover or wire transfer. Example 1: $600 security deposit = $6,000 . Example 2: $1200 security deposit = $12,000 bid on up to 2 vehicles the bidder may bid on 1 vehicle per $6,000.

By |September 19th, 2021|0 Comments

Can I use “Buy Now” on a vehicle instead of bidding on one?

Yes, Members can buy a vehicle that has the “Buy Now” button available. Buy Now vehicles that were previously listed for auction but didn’t meet the seller’s reserve price. They are then listed as “Buy Now” by the seller. Please Note: Once a “Buy Now” is submitted the buyer is obligated to pay the amount of the offer + all the fees that they submitted or authorize.

By |September 19th, 2021|0 Comments
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