Insurance Auctions

Does anyone know what the average price for a scrap car at these insurance auto auctions like Manheim, Copart, IAAI etc?

How many do they sell a month?

Oh, nice. Been awhile since I have seen a question that could have no less than 200 answers. In other words, too many variables.

What if the group wanted to buy in bulk... Will the auctions do that?

Never done this before... I have no idea how it works.

I have been trying to figure out how companies like CoPart, Manheim, IAAI etc. work. I'm assuming that they sell the un-fixable totaled cars there as well? Just looking for information... Any info would help.

where are you from?

I know that Manheim does sell most with salvage titles, but the ones in Florida I've been to have been sold with a certificate of destruction. Supposedly, you can't retitle one of those so it's for scrap only. The totaled Dodge trucks I was looking at were around 5 years old and were selling for up to $4,000.00 each. It's not an easy picking spot for scrappers. I couldn't even buy a truck to get the transmission I wanted.

This doesn't mean that is the average price. There may be no way to calculate that. You just have to go to their website and check completed auctions for the model you're looking for to get an idea what they go for.

Good luck.

In most metro locations can a company that is well funded buy 1000 cars a month in the $100 to $400 price range? Working with auctions, wrecking companies, etc. I'm just trying to make the math work...

Why don't you pull up the auctions you listed and see what stuff is selling for?

Another avenue might be to check with banks and credit unions and ask what they do with repo's. I imagine most will be sellable, and if it could be bought right, flip it. But from time to time you'll get a wrecked vehicle. Last wreck I got was a repo. Bought it from an auction. I asked where it came from. Said it came in as a repo. Completely totaled. Why the bank even bothered, who knows. But the $$$$$ is out there. Go find it.

there is an auction place 30 seconds from me (Impact) and I hate it being there (been open for about a year now). Here you have to have a business permit as a shop or wrecking yard to buy from them so there are 1000's of cars just sitting there that I can't buy and want to every day when I drive by. Secondly, just about every vehicle (passanger/transport trucks/trailers/RV's etc) prob 95% of them have been in some kind of accident, a lot of them quite smashed up and since they opened there gate there has been a lot of debris on the road that was never around before, I have twice gotten crap stuck in my tires from stuff that has fallen off of cars being towed in/out of there but yet never a problem when in the scrap yard and 22's ain't cheap and there is no way to avoid driving near it for me

Again op where are you located at?

@ Focker - We are looking at locations all over the U.S.

Ideally we would just buy out large existing operations where the owners are looking to move on, retire or stay on and keep working. Use their contacts to continue to grow.

@ Mick... I'm not the only one involved, I bring a different skill set. They know the business better than I do, so I just want to do my own due diligence...

Hopefully the guys on this forum know the business fairly well... Seems to me from reading the posts that the down and dirty folks with tips and tricks can be found here?