Run List
List of vehicles that will "run" at the next auction

Run
Process of vehicles going through the auction and having time on the "auction block"

Auction Block
The area at which the vehicle is being auctioned

Market Report
List of all previous sales at the auction with the winning bid price

Bid Price
Bid accepted from the auction floor or block on that unit

Floor Price
A minimum amount that the seller will take for their vehicle

Unit, Lot
Other words for each vehicle that "runs" in an auction

Lane
Where vehicles will run traditional; "A", "B", or "C" lane

Run Number
Location of vehicle in a particular run

Inventory Number
Number assigned to all vehicles at auction

Floor Plans
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

Clean Title
No title defects

Rebuilt Title
Car has previous salvage history and has been rebuilt and inspected by state and reinstated for use

Salvage Title
Title issued on a total loss vehicle due to an accident

Dealer
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

Absolute
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

Red Light
Vehicle sold "AS IS". "AS IS" means they carry no warranty of any kind either expressed or implied

Yellow Light
Vehicle is over 100k miles or has an announcement, such as emissions information

Blue Light
Vehicle's title will be delayed

Green Light
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.