COPART VB2
How VB2 works is through very ingenious, creative, and technological means to improve the remarketing process for the potential customer and to increase the returns.  The ability to utilize virtual bidding brings and entirely new focus into the world of sales and re-sales by raising the bar to unlimited possibilities.

Potential buyers from every reachable location with the ability to submit a bid on one or more vehicles through the comfort of their own locations expands the offering of sales by tremendous numbers. Members who decide to register and join with others can interact with other members at various auction events in real time.

Technically referred to as Virtual Bidding – Second Generation, the possibilities have expanded tremendously both for the potential buyer and for the sales staff who operate the business. This has now expanded into true global market-reaching individuals from every foreign shore around the world.

Virtual Bidding – Second Generation is so sophisticated that it has the ability to bring the best of both worlds together and create one very successful competition.  With the click of the mouse every potential customer has the rare opportunity to preview any vehicle of choice at any time day or night, around the clock.  Through the Preliminary Bidding system, all members can answer a few simple questions presented with screen after screen of available automobiles in the customer’s location.

Each member has the opportunity to enter the maximum and is able and willing to pay for a vehicle to receive a more accurate listing of automobiles that fit the specific criteria. On occasion when a member is out bid by another member and will receive notification through email and that will offer the member another opportunity to re-bid the intended vehicle.

When the sellers transferable vehicle title is received, it then falls under the category of the virtual sale and will be scheduled for re-sale. All active members will have the opportunity to compete with each other during the preliminary bidding up to and including one full hour before the start of the Internet only virtual sale.

The auction-style internet sale is a service through a very powerful web server continuously through the virtual sales. Member from around the world are actively participating through the virtual sale and it all begins with a five digital image of the vehicles that are available for sale. The chance to go through the listing of vehicles to decide on which to bid on is rare and one that is very welcome by the valued members.
During the actual bidding process each vehicle that is up for resale is put on display in up to five different digital images along with the starting high bid through the preliminary bidding process. The Bid4U during the virtual sale will always represent the high preliminary bidder. At the closure of any bidding cycle a countdown initiates to see if there is another bidder that has not had an opportunity to place a bid. If there is no response from any other member the vehicle sells to the member with the highest bid.

Copart Preliminary Bidding
Active, busy schedules are no problem with the unique preliminary bidding system allowing all active members to enter a high bid on any one of the vehicles that you find interesting and appealing. This is a continuous service that runs twenty-four hours a day seven days a week, including most holidays. This is a virtually continuous bidding selection until one hour before the virtual bidding system begins, which operates through the BID4U.

This type of operational structure helps to enhance the bidding process at a much more efficient method. The highest preliminary bidder during the virtual auction is the one the BID4U represents until the very end when the bidding ceases. The individual with the highest bid is the one who will ultimately receive the reward, which in this case is an automobile at a lower rate that originally anticipated.
For example, when the maximum bid is two thousand dollars and the virtual auction stops at one thousand two hundred dollars, this is the end price you can expect to pay for the vehicle, with an overall savings of eight hundred dollars.

Copart Virtual Bidding
VB2 which is the innovative virtual bidding in real time is fully operational even while the virtual auction is active. The date a given vehicle or vehicles auctioned that you show an interest will indicate the specific sale date. During the course of an auction, all vehicles receive an item number so that all active members will know when the vehicle they are expressing an interest will be present for bidding through the BID4U virtual bidding system.

All bids are final and may not be deleted or reduced, but you will have ample opportunity to increase your bid at any time, providing you remain within the allowable guidelines.

In case of a tie between a Virtual Bidder and a Preliminary Bidder – Bid Increment Option
A tie between a virtual bidder and a preliminary bidder is the one thing that we try to avoid at all cost, but it does occur. On those rare occasions when a tie does occur there is a Bid Increment Option that is already in place. This technological automated and sophisticated operates on a permanent default system with the default being the virtual bidder.

When you the member select the bid increment option when you place your preliminary bid, the BID4U will only activate one more additional increment over your maximum bid in an attempt to break the tie. When any member bidder who maintains the higher maximum bid out bids you, you will receive an email notification notice.