WESTCHESTER, IL – Insurance Auto Auctions, Inc., (IAA) has introduced several enhancements to its I-bid LIVE product – the company’s Internet-based tool that allows buyers to join live auctions through any Internet-enabled computer and bid along with both live local bidders and other Internet bidders. The product now provides online bidders the ability to monitor and bid on up to eight live auctions across the country through a single window instead of only one auction per window previously. With this change, a buyer can now bid on multiple cars located at multiple auctions at the same time, creating additional bidding opportunities.
Returns at IAA have continued to increase due to IAA’s expanded service offerings, increased buyer base, and dual bidding strategy in which live auctions are supplemented with a live auction Internet bidding capability.
Other recent enhancements to the I-bid LIVE product is the addition of two more vehicle images on the primary sale screen, bringing the total to seven. A low-bandwidth bidding option for those buyers who do not have high-speed Internet has also been added. By selecting this option when entering the system, buyers will be able to experience faster page loading times and more easily navigate the I-bid LIVE interface with their current low-bandwidth provider.
IAA also said it will begin capturing images of the manufacturer’s sticker for each vehicle it sells, allowing buyers to obtain the date a vehicle was actually built. This feature is especially important for international buyers whose countries have tariff implications based upon the date of manufacture, not the model year of the vehicle. As a result, IAA expects this imaging feature to generate increased international buying activity because it will provide the information necessary for international buyers to make more informed buying decisions.