The IAA offers dealers access to all types of auctions, from classic vehicles to exotic cars. They also offer a wide variety of popular domestic brands. The auctions are updated daily and are available for bidding 24 hours a day. The IAA also provides a Dealer CAT Service, a program that helps dealers recover after a natural disaster by clearing damaged vehicles quickly. The program also allows dealers to sell damaged vehicles through the auction model.
The IAA also occasionally acquires smaller companies with complementary business models. For instance, in October 2021, the company acquired SYNETIQ, an integrated salvage and vehicle dismantling concern that sells parts to consumers. SYNETIQ generated $211 million in revenue in the previous year. During the same year, IAA acquired three other auto salvage operations, expanding its reach across the West Coast and the Midwest.
In the event of a dispute with an IAA auction, the parties must submit their disputes to arbitration. This process is less formal than court proceedings and uses a neutral arbitrator. This allows for limited discovery and very limited review by a court. However, the arbitrator can award the same damages as a judge.
In addition to its traditional auctions, IAA also has a mobile application to make its services more accessible and convenient. Its mobile site, for example, makes use of GPS technology to provide buyers with information on the nearest branch location. In the past year, the IAA also introduced applications for the iPhone and Android platforms. The new applications provide users with a customizable dashboard of their activity and customizable alerts. Additionally, the mobile app enables users to participate in up to eight auctions at the same time.
The IAA was one of the first to consolidate the industry through acquisitions. Through its acquisitions, the IAA grew its sales from $38 million in 1990 to nearly $282 million in 1996. However, IAA lags behind rival Copart in terms of number of outlets and profitability.
The IAA offers outbound transportation services. The buyer must accept the terms and conditions of these services prior to purchasing. However, the IAA reserves the right to change or revoke its transport price quotation. If a dispute arises, the buyer must pay for reasonable expenses for the collection of outstanding balances.
The IAA has several locations in the US and sells thousands of vehicles. These vehicles are a mix of new inventory from auto manufacturers and a massive collection of pre-owned vehicles from its partner companies. Some of the vehicles sold at an IAA auction can be shipped anywhere in the country. It is possible to ship your vehicle by using IAA transport services, but the cost will be higher than you would pay for shipping it on your own.