Insurance Auto Auctions Launches Its Vehicle Remarketing Division

WESTCHESTER, Ill.--(BUSINESS WIRE)--Insurance Auto Auctions, Inc. the leading North American salvage auto auction company today announced the launching of its Vehicle Remarketing Division. Designed to better serve the particular needs of institutional sellers and dealers; IAA’s Vehicle Remarketing Division works directly with vehicle sellers ranging from national rental car companies to vehicle financing institutions and local used car dealers. The Vehicle Remarketing Division offers sellers a single point of contact to sell vehicles through IAA’s 151 locations.

“In our analysis, we’ve found that vehicles that have high-mileage, light damage, have been repossessed, are in arbitration, or do not show or sell well in the whole car auction, deliver significantly higher returns from IAA’s salvage auctions,” stated division director and car industry veteran Robert Guerrero. “We are focused on those vehicles that simply do not perform well at whole car auctions, but traditionally have not been placed in salvage auctions.”

While the whole car auction requires units that are in top condition to bring top dollar, in a salvage auction, vehicles that have less damage and more salvageable parts deliver better returns for sellers. IAA’s hybrid auction model only further supports higher returns by combining live and internet auctions. In addition, IAA can offer sellers in the Vehicle Remarketing Division the broadest visibility on every vehicle offer for sale via our website and the industry’s strongest buyer base including international buyers from over 100 countries.

“We strive to obtain a wide variety of salvage vehicle types in order to provide the most diverse inventory to our buyers,” stated Tom O’Brien, CEO. “Clients such as fleet companies, rental car companies and financial institutions provide quality vehicles to salvage buyers and ensure they have a wide range of choice at our auctions.”

Insurance Auto Auctions, Inc. is leading the salvage auto auction industry in North America by providing the largest facility footprint, strongest buyer base and highest selling returns. IAA’s exclusive focus on the salvage auto auction industry and 151 corporate owned facilities across the United States and Canada provides suppliers and buyers with the best solution to process and acquire total-loss, recovered-theft, fleet lease and rental vehicles. The company’s hybrid auction model, including live, internet and proxy bidding, united with their mature buyer base and diverse inventory produce record setting returns. With over 25 years in the industry, IAA holds the most comprehensive warehouse of salvage auction data. For more information regarding IAA, please visit our website at www.iaai.com.