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Last $39.36 USD
Change Today -0.11 / -0.28%
Volume 1.4M
As of 8:10 PM 12/1/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

14185 Dallas Parkway

Suite 300

Dallas, TX 75254

United States

Phone: 972-391-5000


Copart, Inc. provides online auctions and vehicle remarketing services in the United States (U.S.), Canada, the United Kingdom (U.K.), the United Arab Emirates (U.A.E.), Oman, Bahrain, and Brazil. The company also provides vehicle remarketing services in Germany and Spain. The company provides vehicle sellers with a range of services to process and sell vehicles primarily over the Internet through its Virtual Bidding Third Generation (VB3) Internet auction-style sales technology, which it refers to as VB3. Vehicle sellers consist primarily of insurance companies, but also include banks and financial institutions, charities, car dealerships, fleet operators and vehicle rental companies. The company sells the vehicles principally to licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers and exporters and, at certain locations, to the general public. The company offers vehicle sellers a range of services. VB3 adds various enhancements, which focuses on expanding auction attendance and increasing bidding volume. VB3 allows non-registered members to view auctions via the company’s Website and its mobile applications, to attract non-members and grow its membership base. In addition, VB3 includes a redesigned auction interface, enabling members to fit multiple auction windows on their screen, while simultaneously viewing more vehicle photos and information at the time of live Internet bidding. In the U.S. and Canada (North America), Brazil, the U.A.E., Oman, and Bahrain, the company sells vehicles primarily as an agent and derives revenue primarily from fees paid by vehicle sellers and vehicle buyers, as well as related fees for services, such as towing and storage. In the U.K., the company operates both on a principal basis, purchasing the salvage vehicles outright from the insurance companies and reselling the vehicles for its own account, and as an agent. In Germany and Spain, the company derives revenue from sales listing fees for listing vehicles on behalf of many insurance companies. Strategy The key elements of the company’s strategy are to acquire and develop new vehicle storage facilities in key markets, including foreign markets; pursue national and regional vehicle supply agreements; and expand its service offerings to sellers and members. Service Offerings The company offers vehicle sellers a range of vehicle services. Online Seller Access Through Copart Access, the company’s Internet-based service for vehicle sellers, it enables sellers to assign vehicles for sale, check sales calendars, view vehicle images and history, view and reprint body shop invoices and towing receipts and view the historical performance of the vehicles sold at its sales. Salvage Estimation Services The company offers Copart ProQuote and Enhanced ProQuote, proprietary services that assist sellers in the vehicle claims evaluation process by providing online salvage value estimates, which help sellers determine whether to repair a particular vehicle or deem it a total loss. Estimating Services The company offers vehicle sellers in the U.K. estimating services for vehicles taken to its facilities. Estimating services provide the company’s insurance company sellers repair estimates, which allow the insurance company to determine if the vehicle is a total loss vehicle. End-of-Life Vehicle Processing In the U.K., the company is an authorized treatment facility for the disposal of end-of-life vehicles. Virtual Insured Exchange (VIX) The company provides the venue for insurance customers to enter a vehicle into a sealed bid sale to establish its true value, thereby allowing the insurance customer to avoid dealing with estimated values when negotiating with owners who wish to retain their damaged vehicles. Transportation Services The company maintains contracts with third-party vehicle transport companies, which enable it to pick up most of its sellers’ vehicles within 24 hours. Its national network and transportation capabilities provide cost and time savings to its vehicle sellers and ensure on-time vehicle pick up and prompt response to catastrophes and natural disast


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