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About Copart
Copart sells over a million vehicles yearly through VB2, a patented two-step internet technology for sales. Members from around the world have joined Copart because they have 50,000+ vehicles, an extensive inventory, available every single day to bid on. These members have the opportunity to select from late and early model cars, classic cars, trucks, SUV’s, snowmobiles, motorcycles, recreational vehicles, boats, jet skis, and so much more. At Copart, vehicle sales are made for a selection of consignors that may include banks, dealers, rental car companies, the insurance industry, finance companies, and fleets. Vehicles are also sold for the public using the fast and simple serviced called CopartDirect, as well as for independent dealers and franchise dealerships via Copart’s Dealer Services (CDS) department. Throughout Canada, the United Kingdom, and the United States, Copart has more than 140 facilities available, which enables them to be close to both their sellers and their members, plus they can use a United Kingdom website in order to remarket vehicles to their members in Europe. Copart, a true American success story, was opened in 1982 by CEO Willis J. Johnson, who while growing up learned the business from his father, an entrepreneur that experienced everything from running restaurants and building homes, to dairy farming. With Johnson’s strong work ethics, desire for change, and engaging entrepreneurial charisma, he founded an idea and started Copart with only one salvage yard in California. In 1994, he put Copart on the NASDAQ: “CPRT”, and went public raising the capital money needed to expand Copart throughout the United States. With the development of the VB2 system, Copart went from being a salvage vehicle auction business to a technological company offering a global platform for remarketing by supplying links for seller and buyers from around the world. Thanks to Johnson’s insight and vision, Copart has been able to take down the barriers the make selling and buying cars time consuming. Copart, as a whole, is dedicated to a terminology called “legendary service” which means they leave their customers saying “Wow! How do they do that?” Due to Copart’s success, Copart has had standing on the Forbes “200 Best Small Companies” listing for nine years running, plus Copart has been a feature presentation on a television show called “World’s Best”, as “The World’s Best Remarketing Company”, an outstanding feat. So, by becoming a member of Copart, you have made an excellent choice, and we hope you will take the time to study and utilize all that Copart and the VB2 system have to offer you. We believe you will find that your experience with us will be “A Step Above the Rest!” |
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COPART
The market leader in applicable technology to improve the remarketing of vehicles in a new and enhances way is Copart. They have been very creative in devising methods to increase returns for increased products and sales. Copart became the first vehicle auction company in 1998 able to utilize the best of both the world of brick and mortar and the world of virtual reality always with the intent and idea of reaching out to even more members around the world. The ability to submit proxy bids over the internet offered many opportunities and it soon became apparent that this was not something to turn away.
The year 2001 was a milestone for Copart as they introduced their virtual bidding to their many members. This opened up the rare opportunity for all active members to be more interactive in competition with real time live auction events. The VB2 or Virtual Bidding – The Second Generation was introduced in 2003 as a revolutionary new auction-style technology with the capability of reaching out to all active members. The introduction of the VB2 opened up the global market to millions of more individuals and the sellers, buyers began to interact via this new technology, and the sales marketing reached a new high.
There are two well-qualified and competitive preliminary bidding processes that combined through the introduction of the VB2. The advanced technology of the preliminary bidding process entertained by the virtual sale bringing the best of both worlds together in one arena.
The special opportunity for all active members to preview vehicles and enter bids at their leisure by utilizing the bidding kiosks which are located at the brick and mortar locations and over the internet opens up new avenues whether a member is at home, at the office, or in a hotel in a different location. All members are able to enter the maximum price they are willing to pay for a vehicle and the Copart BID4U feature will accept and log the bids in the active member’s behalf.
When the transferable vehicle title appears to Copart, it is on the schedule to participate in the virtual sale. All active members whether local members or internet participants will have the opportunity from where they are to compete in the preliminary bidding process, always until the hour before the virtual sale begins.
Copart’s web server has the capacity to conduct auction-style internet sales during a virtual sale from anywhere in the world. Once the active members are logging in the Copart website the members can select the virtual sale. At the beginning of the virtual sale, the digital images of the vehicle are displaying side by side with the high bid from the preliminary bidding time. The BID4U will always represent the high preliminary bidder until the virtual sale is over.
