A automobile valuation device related to Copart, a web-based automobile public sale platform, helps potential bidders estimate the price of automobiles, together with repairs. These instruments typically incorporate elements just like the automobile’s yr, make, mannequin, harm extent, and site to offer a projected worth. An instance is likely to be a consumer inputting details about a salvaged automobile to gauge its potential restore price and examine it to the public sale worth.
Such valuation instruments provide important benefits within the on-line automobile public sale market. They empower patrons to make knowledgeable choices, mitigating monetary dangers related to buying broken or salvaged automobiles. Traditionally, accessing the sort of pre-bidding data required important time and sources. On-line valuation instruments democratize the method, offering larger transparency and effectivity. This will contribute to fairer pricing and a extra aggressive bidding surroundings.
Understanding how these instruments operate and the info they make the most of is important for profitable bidding. The next sections will delve deeper into the specifics of harm evaluation, market worth evaluation, and efficient bidding methods.
1. Automobile 12 months
Automobile yr performs a vital position in Copart’s valuation instruments. It serves as a foundational factor in figuring out a automobile’s base worth earlier than factoring in harm, location, and different variables. Newer automobiles usually maintain greater base values as a result of decrease mileage, much less put on and tear, and doubtlessly remaining producer warranties. Conversely, older automobiles usually have decrease base values, reflecting gathered depreciation and potential mechanical points. This temporal issue establishes the preliminary framework for worth evaluation. For instance, a 2022 mannequin yr automobile will doubtless have the next beginning worth within the valuation course of than an analogous 2012 mannequin yr automobile, even earlier than accounting for the situation of every.
The influence of auto yr extends past establishing a base worth. It interacts with different variables throughout the valuation course of. For example, harm to a more moderen automobile is likely to be perceived as extra important as a result of greater preliminary worth and potential lack of guarantee protection. Equally, elements availability and restore prices can differ primarily based on the automobile’s age, influencing the general evaluation. Contemplate a state of affairs the place two similar automobiles, one from 2015 and the opposite from 2021, maintain related harm. The restore price is likely to be comparable, however the influence on the general worth will differ considerably as a result of age discrepancy. This demonstrates the interconnectedness of auto yr with different valuation elements.
Understanding the importance of auto yr inside Copart’s valuation instruments supplies essential context for decoding estimated values. Recognizing the affect of depreciation, potential upkeep prices related to older automobiles, and the interaction between age and harm evaluation allows extra knowledgeable bidding choices. Whereas the device automates the valuation course of, comprehending the underlying rules permits customers to critically consider the generated estimates and align bidding methods with market realities.
2. Make and Mannequin
Make and mannequin considerably affect automobile valuation inside Copart’s evaluation instruments. These elements decide the automobile’s inherent worth, affecting each the preliminary base worth and the influence of harm or different depreciating parts. Luxurious manufacturers like BMW or Mercedes-Benz typically command greater base values in comparison with financial system manufacturers like Kia or Hyundai as a result of elements like perceived high quality, superior options, and model status. Moreover, inside a selected model, mannequin variations contribute to worth variations; a high-performance sports activities automobile mannequin usually holds the next worth than a typical sedan mannequin of the identical model and yr.
The interplay between make, mannequin, and harm evaluation inside Copart’s instruments is essential. Restore prices for luxurious or specialised fashions could be considerably greater as a result of specialised elements and labor necessities. Consequently, related harm on a luxurious automobile might need a extra important influence on its total worth in comparison with a cheaper mannequin. Contemplate a state of affairs involving front-end harm to each a Mercedes-Benz S-Class and a Toyota Camry. Whereas the harm may seem visually related, the restore prices for the Mercedes-Benz, requiring specialised elements and doubtlessly specialised labor, will doubtless be considerably greater, impacting the valuation accordingly.
Understanding the affect of make and mannequin on Copart’s valuation instruments supplies important context for decoding estimated values. Recognizing the inherent worth variations between manufacturers and fashions, mixed with the influence of restore prices particular to these distinctions, permits for extra strategic bidding. This information allows customers to guage whether or not a automobile’s estimated worth aligns with its make, mannequin, and related restore complexities throughout the broader market context. This knowledgeable strategy facilitates extra correct worth evaluation and reduces the chance of overpaying or overlooking doubtlessly priceless alternatives throughout the public sale surroundings.
3. Harm Extent
Harm extent performs a essential position inside Copart’s valuation instruments, instantly influencing a automobile’s estimated worth. Precisely assessing the severity and kind of harm is essential for knowledgeable bidding. This evaluation considers varied elements, from minor beauty blemishes to important structural harm, impacting restore prices and total automobile price.
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Body Harm
Body harm represents a major think about automobile valuation, typically leading to substantial restore prices and potential security considerations. A bent or compromised body can have an effect on a automobile’s structural integrity, doubtlessly resulting in dealing with points and diminished crashworthiness. Copart’s valuation instruments usually replicate the severity of body harm, considerably impacting the estimated worth. For example, a automobile with a severely broken body will usually obtain a a lot decrease valuation than a comparable automobile with solely minor beauty harm. This underscores the significance of totally inspecting automobiles for body harm earlier than bidding.
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Water Harm
Water harm presents distinctive challenges, doubtlessly affecting electrical methods, inflicting corrosion, and selling mildew development. Copart’s valuation instruments account for water harm, with the extent of the harm influencing the estimated worth. A automobile submerged in floodwaters will doubtless have a decrease worth than one uncovered to minor water intrusion as a result of a leaky window. The problem in absolutely assessing the long-term results of water harm contributes to this devaluation.
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Mechanical Harm
Mechanical harm, encompassing points with the engine, transmission, or different essential methods, considerably impacts a automobile’s worth. The extent of mechanical harm, from a minor oil leak to a seized engine, instantly impacts restore prices and due to this fact the general valuation. Copart’s instruments take into account mechanical harm studies, impacting estimated values accordingly. A automobile with a reported engine failure will usually have a decrease estimated worth than one with functioning mechanics, even when beauty harm is comparable.
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Beauty Harm
Beauty harm, equivalent to dents, scratches, and paint chips, whereas not affecting a automobile’s performance, nonetheless impacts its worth. Copart’s valuation instruments issue within the extent of beauty harm. Minor scratches might need a minimal influence, whereas in depth physique harm requiring repainting or panel substitute will end in a decrease valuation. This displays the fee related to restoring a automobile to its pre-damage aesthetic situation.
The interaction between these harm classes inside Copart’s valuation system highlights the complexity of assessing a automobile’s true price. Whereas the device supplies an estimate, understanding the nuances of every harm sort permits bidders to interpret these valuations critically. This understanding empowers knowledgeable decision-making, balancing potential restore prices with the automobile’s total worth proposition.
4. Location
Geographic location performs a major position in automobile valuation inside Copart’s evaluation instruments. Regional market circumstances, transportation prices, and native laws affect a automobile’s estimated worth. Understanding these location-based elements is essential for correct interpretation of valuation knowledge and efficient bidding methods.
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Regional Market Demand
Regional variations in automobile demand considerably affect worth. Sure makes and fashions is likely to be extra common in particular areas, driving up native costs. For instance, pickup vans may command greater costs in rural areas with the next demand for utility automobiles in comparison with city areas. Copart’s valuation instruments account for these regional market fluctuations, reflecting greater estimated values in areas with stronger demand.
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Transportation Prices
Transportation bills contribute considerably to the general price of buying a automobile from Copart. Automobiles situated farther from the customer incur greater transportation charges. This distance issue is built-in into Copart’s valuation instruments. A automobile situated throughout the nation could have the next complete price, reflecting elevated transportation bills, in comparison with an similar automobile situated close by. This emphasizes the significance of contemplating logistical prices when evaluating potential bids.
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Native Laws
Native laws, equivalent to emissions requirements or security inspections, can influence a automobile’s worth. Areas with stricter laws may devalue automobiles that do not meet these requirements. For instance, a automobile failing to fulfill California emissions necessities is likely to be price much less in California in comparison with a state with much less stringent laws. Copart’s valuation instruments take into account these regulatory variations, adjusting estimated values primarily based on location-specific necessities. This highlights the necessity to analysis native laws earlier than bidding.
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Harm Prevalence
The prevalence of particular varieties of harm in sure areas, typically linked to regional climate patterns, can affect automobile valuations. For instance, hail harm is likely to be extra frequent in some areas, impacting the worth of automobiles with hail-related harm. Copart’s instruments doubtless incorporate knowledge on harm prevalence in several areas, adjusting valuations accordingly. This consideration reinforces the significance of detailed harm inspection studies, particularly in areas vulnerable to particular harm sorts.
The interaction of those location-based elements inside Copart’s valuation system underscores the significance of contemplating geography when evaluating potential purchases. Whereas the device supplies an preliminary estimate, understanding regional market dynamics, transportation prices, and native laws supplies a extra complete understanding of a automobile’s true price. This knowledgeable perspective facilitates extra strategic bidding, optimizing acquisition prices and minimizing potential post-purchase problems.
5. Restore Prices
Restore prices signify a essential part inside Copart’s valuation instruments, considerably influencing a automobile’s estimated worth. Precisely estimating these prices is essential for knowledgeable bidding, as they instantly influence the general funding required to amass and doubtlessly resell a automobile. The valuation device considers varied elements contributing to restore prices, together with the extent and kind of harm, the provision and price of elements, and prevailing labor charges within the automobile’s location. A exact restore price estimate permits potential patrons to evaluate the feasibility of restoring a automobile to a marketable situation and decide potential profitability.
The cause-and-effect relationship between harm extent and restore prices is central to Copart’s valuation course of. Body harm, for instance, usually necessitates in depth repairs, considerably growing prices. Equally, mechanical harm requiring engine or transmission substitute contributes considerably to the general restore bills. Conversely, beauty harm, whereas impacting resale worth, usually includes decrease restore prices. For example, a salvaged automobile with a broken engine requiring substitute will usually have the next estimated restore price than a automobile with related beauty harm, equivalent to dents and scratches. This distinction highlights the significance of correct harm evaluation throughout the valuation course of. Contemplate a state of affairs the place two automobiles have related estimated market values, however one requires in depth mechanical repairs whereas the opposite wants solely minor beauty work. The automobile with decrease projected restore prices presents a extra engaging funding alternative as a result of decrease total monetary dedication.
Understanding the importance of restore prices inside Copart’s valuation instruments is paramount for profitable bidding. Overestimating restore prices can result in missed alternatives, whereas underestimating them can lead to sudden bills, doubtlessly negating any perceived worth. This underscores the significance of using the valuation device at the side of unbiased analysis {and professional} assessments when crucial. By precisely evaluating restore prices, bidders could make knowledgeable choices, maximizing the potential for worthwhile acquisitions.
6. Salvage Title
A salvage title designates a automobile that an insurance coverage firm has declared a complete loss as a result of harm, theft, or different incidents. Understanding the implications of a salvage title is essential when utilizing valuation instruments related to Copart, because it considerably impacts a automobile’s market worth and insurability. This designation serves as a essential issue throughout the valuation course of, impacting potential resale worth and influencing bidding methods.
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Diminished Resale Worth
A salvage title completely manufacturers a automobile, lowering its resale worth in comparison with a clear title automobile. This devaluation displays the perceived danger related to buying a beforehand broken automobile, even after repairs. Valuation instruments account for this diminished worth, reflecting cheaper price estimates for salvage title automobiles. For example, two similar automobiles, one with a clear title and the opposite with a salvage title, could have totally different estimated values, with the latter considerably decrease, even when each seem identically repaired.
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Insurance coverage Implications
Insuring a salvage title automobile could be difficult. Insurance coverage firms typically hesitate to offer complete protection, and even when out there, premiums are usually greater. This elevated insurance coverage price provides to the general possession expense, an element to contemplate when utilizing valuation instruments. The potential issue in acquiring full protection and the upper premiums contribute to the decrease valuation of salvage title automobiles.
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Financing Challenges
Securing financing for a salvage title automobile could be troublesome. Lenders understand these automobiles as greater danger, typically requiring bigger down funds or greater rates of interest. These financing challenges additional influence the general price of buying a salvage title automobile, influencing bidding choices. The potential issue in acquiring financing and fewer favorable mortgage phrases contribute to the decrease assessed worth.
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Inspection Necessities
Many jurisdictions require thorough inspections of salvage title automobiles earlier than they are often legally registered and pushed on public roads. These inspections add time and expense to the method, elements that Copart’s valuation instruments take into account. The associated fee and time related to inspections contribute to the decrease valuation, reflecting the extra effort required to make a salvage title automobile roadworthy.
The presence of a salvage title serves as a major issue inside Copart’s valuation instruments. Understanding the implications for resale worth, insurance coverage, financing, and inspections permits for a extra knowledgeable interpretation of estimated values and facilitates extra strategic bidding. Recognizing the complexities related to salvage titles empowers patrons to make calculated choices, weighing potential dangers and rewards throughout the context of the broader automotive market.
7. Public sale Charges
Public sale charges signify a vital part throughout the broader context of Copart’s valuation instruments. These charges, added to the ultimate bid worth, considerably affect the overall price of auto acquisition. Precisely accounting for these charges is important for efficient budgeting and knowledgeable bidding methods. Understanding their construction and potential variability empowers patrons to make financially sound choices throughout the Copart ecosystem.
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Purchaser’s Price
The client’s charge, a proportion of the ultimate bid worth, constitutes a good portion of the public sale charges. This charge varies primarily based on elements such because the automobile’s sale worth and the customer’s membership stage. For instance, the next last bid worth typically ends in a decrease proportion purchaser’s charge. Precisely calculating this charge is important for figuring out the overall price and making certain profitability. Copart’s valuation instruments typically incorporate estimated purchaser’s charges, offering a extra complete price projection.
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Gate Price
The gate charge covers the price of processing the automobile’s launch from the Copart facility. This charge is often a set quantity per automobile and is added to the ultimate buy worth. Whereas comparatively small in comparison with the customer’s charge, it nonetheless contributes to the general price. Valuation instruments usually embrace the gate charge of their calculations, offering a extra correct illustration of complete bills.
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Storage Price
Storage charges accrue if a automobile stays on the Copart facility past a specified interval after buy. These charges, calculated each day, can rapidly accumulate, including considerably to the overall price. Promptly retrieving bought automobiles minimizes storage charges. Whereas not usually included in preliminary valuation estimates, understanding the potential for storage charges underscores the significance of environment friendly post-purchase logistics.
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Membership Charges (Non-obligatory)
Copart presents varied membership ranges, some with related charges. These memberships can present advantages like lowered purchaser’s charges or entry to unique auctions. Whereas non-compulsory, membership charges, if relevant, must be factored into the general price evaluation. Valuation instruments could permit customers to specify their membership stage to offer extra tailor-made price projections, reflecting potential charge reductions.
Integrating these public sale charges into Copart’s valuation instruments supplies a extra complete price evaluation. Understanding the construction and variability of those charges, from the percentage-based purchaser’s charge to the fastened gate charge and potential storage charges, empowers patrons to develop extra real looking budgets and refine bidding methods. This complete price consciousness contributes to extra knowledgeable decision-making throughout the Copart market, maximizing the potential for profitable and worthwhile automobile acquisitions.
8. Market Worth
Market worth represents a vital factor throughout the context of Copart’s valuation instruments. It signifies the worth a automobile is prone to command within the present market, contemplating elements like make, mannequin, yr, situation, and mileage. Understanding market worth is important for decoding the output of valuation instruments and making knowledgeable bidding choices. Precisely assessing market worth permits potential patrons to determine undervalued automobiles and keep away from overpaying, maximizing the potential for revenue.
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Automobile Comparables
Analyzing comparable automobile gross sales supplies a benchmark for figuring out market worth. Inspecting current gross sales of comparable automobiles when it comes to yr, make, mannequin, mileage, and situation presents insights into prevailing market costs. This knowledge informs the algorithms inside Copart’s valuation instruments, contributing to extra correct estimates. For instance, if a number of comparable automobiles have not too long ago offered for a selected worth vary, the valuation device will doubtless replicate an analogous worth for a automobile with comparable traits. This comparative evaluation helps set up a sensible market worth baseline.
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Situation Adjustment
Automobile situation considerably influences market worth. Harm, put on and tear, and total situation require changes to the baseline market worth derived from comparable gross sales. Copart’s valuation instruments incorporate situation assessments into their calculations. A automobile with important harm will usually have a decrease estimated market worth than an similar automobile in pristine situation, reflecting the price of repairs. This adjustment ensures the estimated worth aligns with real-world market expectations.
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Location Affect
Geographic location performs a task in market worth. Regional variations in provide and demand, native financial circumstances, and even climate patterns can affect costs. Copart’s valuation instruments take into account location knowledge, adjusting estimated market values accordingly. A automobile in excessive demand in a selected area might need the next estimated market worth in comparison with the identical automobile in a area with decrease demand. This location-based adjustment enhances the accuracy of the valuation course of.
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Market Fluctuations
Automotive markets are topic to fluctuations influenced by elements like financial circumstances, gas costs, and seasonal traits. These fluctuations influence automobile values, requiring ongoing changes to market worth estimations. Copart’s valuation instruments dynamically adapt to those market adjustments, offering up-to-date estimates that replicate present market realities. For example, in periods of financial downturn, automobile values may lower, whereas in periods of financial development, values may improve. This responsiveness to market dynamics ensures the valuation device stays a related and dependable useful resource.
By integrating these sides of market worth, Copart’s valuation instruments present a extra complete and correct evaluation of a automobile’s price. Understanding the interaction of auto comparables, situation changes, location influences, and market fluctuations empowers customers to interpret these valuations critically and make knowledgeable bidding choices. This information enhances the potential for figuring out priceless alternatives and maximizing returns throughout the dynamic panorama of the net automobile public sale market.
Steadily Requested Questions
This part addresses frequent inquiries concerning automobile valuation instruments related to on-line automobile public sale platforms.
Query 1: How does a automobile valuation device decide estimated restore prices?
Valuation instruments leverage knowledge from varied sources, together with reported harm assessments, historic restore knowledge for related automobiles, and elements pricing databases. Algorithms course of this data to generate estimated restore prices, contemplating elements such because the extent and kind of harm, automobile make and mannequin, and native labor charges.
Query 2: Are estimated values supplied by valuation instruments assured?
Estimated values function guides, not ensures. They signify knowledgeable projections primarily based on out there knowledge however can differ from precise prices relying on unexpected restore complexities or market fluctuations.
Query 3: How does location have an effect on a automobile’s estimated worth?
Location influences worth as a result of regional variations in market demand, transportation prices, and native laws. Automobiles in high-demand areas or areas with stricter regulatory necessities might need totally different estimated values than similar automobiles in different areas.
Query 4: What position does a automobile’s salvage title play in its valuation?
A salvage title signifies substantial prior harm, considerably impacting a automobile’s resale worth and doubtlessly affecting insurability and financing choices. Valuation instruments incorporate the presence of a salvage title, leading to decrease estimated values in comparison with related automobiles with clear titles.
Query 5: How do public sale charges issue into the overall price of a automobile?
Public sale charges, together with purchaser’s charges, gate charges, and potential storage charges, are added to the ultimate bid worth, representing a good portion of the overall acquisition price. Valuation instruments typically embrace these charges of their price projections, offering a extra complete overview of complete bills.
Query 6: How typically are market worth estimations up to date throughout the valuation instruments?
Market values are usually up to date repeatedly to replicate present market circumstances. The frequency of updates can differ relying on the platform however usually goals to offer well timed and related worth estimations, accounting for market fluctuations.
Correct automobile valuation requires cautious consideration of a number of elements. Whereas valuation instruments provide priceless steerage, conducting unbiased analysis and due diligence stays essential for knowledgeable decision-making.
This concludes the FAQ part. The next part will discover sensible bidding methods for on-line automobile auctions.
Efficient Bidding Methods with Copart Valuation Instruments
Profitable bidding requires strategic planning and knowledgeable decision-making. The next ideas leverage automobile valuation instruments to maximise bidding effectiveness throughout the Copart surroundings.
Tip 1: Completely Analysis Automobiles
Complete automobile analysis is paramount. Make the most of the valuation device alongside detailed automobile historical past studies, out there by means of suppliers like AutoCheck or Carfax, to realize an entire understanding of a automobile’s historical past, together with prior accidents, title standing, and possession information. This thorough analysis mitigates potential dangers related to hidden harm or title discrepancies.
Tip 2: Precisely Assess Harm
Correct harm evaluation is essential. Depend on Copart’s supplied photos and, when potential, in-person inspections to guage the extent of harm. Examine noticed harm with the harm descriptions supplied throughout the valuation device to make sure consistency and determine potential discrepancies.
Tip 3: Realistically Estimate Restore Prices
Develop real looking restore price estimations. Make the most of the valuation device’s estimated restore prices as a place to begin and complement with unbiased analysis or consultations with mechanics to validate these figures. This unbiased verification ensures price projections align with real-world restore bills.
Tip 4: Consider All Related Charges
Account for all related charges, together with public sale charges, transportation prices, and potential storage charges. Combine these prices into total funds calculations to find out a sensible most bid. This complete price accounting prevents sudden bills from exceeding the allotted funds.
Tip 5: Set a Most Bid and Follow It
Set up a most bid restrict primarily based on analysis, valuation estimates, and funds constraints. Keep away from emotional bidding by adhering strictly to the predetermined restrict. Disciplined bidding prevents impulsive overspending and ensures alignment with funding objectives.
Tip 6: Monitor Bidding Exercise
Carefully monitor bidding exercise on automobiles of curiosity. Observe bidding patterns and worth escalations to realize insights into competitor habits and modify bidding methods accordingly. This real-time monitoring facilitates knowledgeable bid changes and optimizes the possibilities of successful desired automobiles.
Tip 7: Contemplate Various Automobiles
Keep flexibility and take into account various automobiles. If bidding on a selected automobile exceeds the predetermined most bid, discover various choices that meet related standards throughout the funds constraints. This adaptability broadens potential acquisition alternatives.
Leveraging these methods at the side of Copart’s valuation instruments empowers knowledgeable bidding choices, enhancing the potential for profitable and worthwhile automobile acquisitions.
The next part will conclude this exploration of Copart’s valuation instruments and their efficient utilization throughout the on-line automobile public sale market.
Conclusion
This exploration has detailed the importance of Copart’s valuation instruments throughout the on-line automobile public sale panorama. Key elements influencing automobile worth, together with harm extent, location, and market dynamics, had been examined. The significance of understanding restore prices, salvage titles, and public sale charges in complete price evaluation was emphasised. Efficient bidding methods, grounded in thorough analysis and disciplined funds adherence, had been offered. The useful resource empowers knowledgeable decision-making, enabling potential patrons to navigate the complexities of on-line automobile auctions strategically.
The net automobile public sale market continues to evolve. Adaptability and knowledgeable decision-making stay paramount for achievement. Leveraging instruments that provide complete knowledge evaluation, mixed with diligent analysis and strategic planning, supplies a pathway towards maximizing worth and attaining profitable automobile acquisitions. This strategy positions patrons advantageously throughout the dynamic and aggressive panorama of on-line automobile auctions.
