FAQ
Glossary of Terms
ACV
ACV, or Actual Cash Value, is the estimated retail value of the lot as submitted to Copart by the Seller. This is displayed as “Est. Retail Value” on each lot page. If the lot has been damaged, this is the value prior to the occurrence of the damage. Retail automobile values may be obtained from Kelley Blue Book and other sources on the web. This number is presented for informational purposes only. Copart makes no representations as to the validity or accuracy of the listed value.
Body Style
Body Style is the manufacturer’s designation of the vehicle’s configuration.
Color
Color listed on this site is the common color name that reasonably represents the exterior color of the vehicle. Color is not the manufacturer’s designated color name, but rather simply a general descriptive name.
Counter Bid
A Counter Bid is a bid that the Seller makes to counter the high bidder’s offer. Counter bids are made directly following the sale of vehicles designated by the Seller as Minimum to Bid or Bid to Be Approved. Members acknowledge and agree that regardless of any counter bids made by the Seller, Members’ high bids on these vehicles shall remain open to acceptance by the Seller until 8 p.m. PST the next business day after the sale day.
Current Bid
The Current Bid is the highest price offered for this lot at this time. There may be a higher maximum bid being represented by BID4U. The current bid is always listed in the currency of the country of the facility.
Current Sale Highlights
These are comments entered by the LCB general manager about the listed sale. They include lot information or important notices about a particular auction.
Cylinders
Cylinders represent the manufacturer’s designation of the vehicle’s power train.
Drive
Drive is the manufacturer’s designation of the vehicle’s power train.
Engine
Engine is the motor specification denoted by the VIN of the vehicle. Members are encouraged to inspect vehicles thoroughly before bidding to verify whether original equipment is present at time of sale.
Fuel
Fuel indicates the fuel type used by the engine as designated by the VIN.
Image
LCB takes ten (10) digital images of each vehicle processed for sale. Images are stored in JPEG format.
Lot Number
Lot Number, or Lot #, is Copart’s unique identifier for each vehicle.
Make
Make is the manufacturer’s brand name.
Maximum Bid
The maximum bid is the highest amount that you are willing to pay for this lot. BID4U will incrementally bid on your behalf to keep other bidders from outbidding you, up to your maximum bid.
Model
Model is the manufacturer’s designation of the lot.
Registration Fees
Brokers charge a one-time non-refundable registration fee for the activation of a Bidder Account. Registration fees may vary by Broker and may cover different time periods. See specific Broker Terms & Conditions for more information.
Sale Date
Sale Date is the weekday when designated inventory at a particular facility will go to auction. Sale dates vary by facility. Refer to our Auctions Calendar for a complete listing of sale dates.
Sale Time
Sale Time is the scheduled start time for an auction. Sale times are local to the facility in which a particular vehicle is stored.
Security Deposit
All Brokers require security deposits and must be paid in full before you receive your bidder account. This security deposit protects the Broker if you fail to pay for an awarded vehicle. Failure to pay in full for any awarded vehicle will result in the loss of your security deposit and a revocation of your bidder account. Brokers will refund your deposit if you do not purchase a vehicle.
Special Note
The Special Note area is a place where important information about the lot is displayed for the Member’s consideration when bidding.
Starting Bid
The Starting Bid is the bid entered for a lot by the first bidder. Once entered, it becomes the current bid.