Ritchie Bros. acquired IAA this year to create a leading, multi-channel marketplace that provides a variety of assets, data insights, and service solutions for buyers and sellers of commercial assets and vehicles worldwide. The new combined company including Ritchie Bros, IAA, Rouse, SmartEquip, VeriTread and Xcira is RB Global, Inc.
Auction fans familiar with Ritchie Bros. might not know about IAA’s auctions, or how convenient it is to find and bid on total-loss, damaged and low-value vehicles.
How do you get started? Here’s everything you need to know about bidding and buying in IAA auto auctions.
Registering online to Buy at IAA
Becoming a registered buyer gives you full access to bid on and buy vehicles online from any of IAA’s approximately 200 locations. If you just want to watch the auctions and get a taste of the process and inventory, you can register for a guest account.*
However, if you want to make bids or purchase vehicles in any auction, you will need to register as either a Public Buyer (where allowable by law) or a Licensed Business Buyer. Many states have different rules and regulations that must be followed for licensed and public buyers to purchase vehicles during online auctions. So, what’s the difference between Public and Licensed Business Buyers?
Public Buyers do not require a business license. These buyers can bid on vehicles available to the public, where allowable by state laws and regulations. This is not something available in every state. Public buyers may also use brokers to make purchases if a particular vehicle is not available to the public. The broker must be properly licensed/authorized and registered with IAA to have an account. If you need help locating a broker, you can visit our website for resources. To register as a Public Buyer, you need to complete the online registration form, plus upload a government-issued photo ID, and pay a $200 annual membership fee. Learn more about IAA Public Buyer Guidelines.
The other type of buyer is a Licensed Business Buyer. If you are looking to buy vehicles for your business or for resale, you will need to register with a copy of your business license, a notarized English translation of the business license (if the original was not issued in English), and your tax license (if applicable). If you are registering with a business license located outside of the United States, you will need to meet certain requirements.
Different types of IAA auctions
Similar to the way Ritchie Bros. offers different buying experiences, IAA also lets you choose how you’d like to buy your vehicles at auction. Here are four of the ways to buy at IAA:
- Live Auctions: IAA hosts online live auctions daily associated to one of its hundreds of locations. The live auction takes place digitally and buyers can bid and buy in multiple auctions from the IAA AuctionNow platform.
- IAA Timed Auctions: This format should be familiar to those who use Ritchie Bros.’ Timed Auction platform. It works in a similar way. IAA Timed Auctions offer vehicles for specified period of time online. This online-only model allows for bidding and sale prior to our scheduled Online Auctions.
- Buy Now: If you don’t want to wait for a live auction or make bids in a Timed Auction, then the Buy Now option offers immediate purchase at a set price. This is a fast, easy way to acquire ready-to-buy vehicles.
- Online Exclusives: IAA offers multiple vehicle segments that provide buyers the opportunity to bid on and buy desired inventory in one place. These specific auctions include, among others, IAA Specialty, IAA Rec Rides, IAA Dream Rides and IAA Virtual Lane.
How bidding works at IAA
IAA AuctionNow is a digital bidding platform gives you the ability to create your own customizable bidding experience. The user interface gives you flexibility and control while bidding. It has four bid status messages with color backgrounds so they are easy to recognize at a glance.
Search for vehicles, parts, and more
You can browse thousands of vehicles in the IAA inventory, and add vehicles to your Watch List, just like on the Ritchie Bros. website. If you’re looking for a specific type of vehicle, use the search bar at the top of each page on the IAA website. You’ll find filters on the left panel that help you drill down into specifics – like engine size, cylinders, fuel type, and more. Here’s a video that guides you through the process.
Now you have the basics to bidding on vehicles in IAA auctions. If you need more info, IAA offers a wide selection of helpful articles and videos that guide you as the process as a new buyer.
*Subject to acceptance of terms and conditions.