List of vehicles that will "run" at the next auction
Process of vehicles going through the auction and having time on the "auction block"
The area at which the vehicle is being auctioned
List of all previous sales at the auction with the winning bid price
Bid accepted from the auction floor or block on that unit
A minimum amount that the seller will take for their vehicle
Other words for each vehicle that "runs" in an auction
Where vehicles will run traditional; "A", "B", or "C" lane
Location of vehicle in a particular run
Number assigned to all vehicles at auction
A dealer term used for financing vehicles bought from an auction and put on their lot for sale
In-Ops or In-Op Sale
Vehicles that do not function properly and are sold "as is" or "red light", improper function can be mechanical, electrical or body damage
No title defects
Car has previous salvage history and has been rebuilt and inspected by state and reinstated for use
Title issued on a total loss vehicle due to an accident
A person or company who holds a valid dealers licence from an issuing state
Public / Individual
Person at a public auction who is not listed as a "dealer" but can buy with a valid state issued drivers licence
Bid # or Bidder's #
Issued at registration and used when purchasing a vehicle
Vehicle that does not have a "floor" price, will sell for the highest bid
"if" or "verified with seller purchased"
If seller isn't present a phone call is made to the seller to determine if they'll accept the bid
Vehicle sold "AS IS". "AS IS" means they carry no warranty of any kind either expressed or implied
Vehicle is over 100k miles or has an announcement, such as emissions information
Vehicle's title will be delayed
Buy and test drive. If the seller agrees and the vehicle is sold for over $3000, a vehicle may be sold under the 'Green Light'.
These vehicles can be arbitrated for problems associated with the rear end, transmission,
and motor costing over $400 to repair.