In an industry where rising auction fees and outdated operating models are the norm, Salvato Auctions is redefining how vehicles are sold. Our Timed Auction model offers a smarter, faster, and fairer alternative for insurance salvage car buyers. Here's how it works and why it's a better solution.
The Problem with Traditional Auctions
While most auto auctions today sell exclusively online, their operations are stuck in the past. Large salvage auctions such as Copart and IAA, for example, rely on sprawling lots to store vehicles, creating multiple inefficiencies:
- High land and labor costs
- Risk of vehicle damage during transport
- Slower processing and longer sales cycles
These platforms also rely on live auctions that sell vehicles sequentially, requiring buyers to sit through hours of bidding. Winning often comes down to a split-second decision. Miss it, and you’re out.
Salvato's Smarter Approach: Decentralization + Digital Power
We’ve reimagined the auction process from the ground up.
- No centralized storage yards: We sell vehicles where they sit, at tow yards and secure storage facilities where vehicles are taken after their accident.
- Digital title processing: We handle lien payoffs and title clearance entirely online, speeding up time to sale. Digital titles appear in the buyer dashboard within hours with no physical paper to sign or send overnight.
- Lower overhead: Without large land requirements and fewer employees, buyers save 20% - 40% in auction fees.
How the Timed Auction Works
Instead of a chaotic, live bidding frenzy, Salvato’s timed auctions runs over a full week, giving you flexibility and control.
Bi-weekly Auction Timing:
- Opens: Thursdays at 9:00 a.m.
- Closes: Wednesdays at 9:00 a.m.
You can place proxy bids any time during that window.
Proxy Bid System
Instead of hovering over your screen and waiting for your car to come up for bid, you simply set your maximum (proxy) bid and let our system do the rest. Here’s how it works:
- Place a Max bid on the vehicle you want to buy. This is the maximum amount you would be willing to pay for the vehicle.
- Salvato Auctions’ system will then automatically bid for you, only as much as needed to maintain your lead, up to your maximum. Your maximum bid remains private.
Example: If the current bid is $300 and your max is $1,000, you become the high bidder at $325. If someone else enters a Max bid of $500, the system auto-increases your bid to $525.
Dynamic Close for Fairness
To prevent bidders from placing a last-second bid to win an item without allowing others to react (known as "sniping"), our timed auctions employ an "extended bidding" feature. If a bid is placed within the last 15 minutes of the auction, the closing time for that specific item is automatically extended by 15 minutes, giving the previous high bidder a chance to respond.
Building Trust with Buyers
Some buyers may be wary of “Proxy bid” systems on other platforms, worried they'll be charged their Max bid even without competition. We built our platform differently.
At Salvato Auctions, our platform honors the logic of fair competitive bidding:
- You’ll only pay one increment above the next-highest bid, not necessarily your Maximum bid.
- For example, if your Max bid is $1,500 and the highest competing Max bid is $1,100, you’ll win the auction at $1,150, not $1,500.
Our system is transparent, fair, and efficient, and it’s backed by technology and values you can trust.
Why It's Better
- 100% insurance vehicles with a convenient bidding window that works around your schedule
- No all-day bidding marathons
- Fair, automated bidding with a dynamic close allowing high bidders to bid again if outbid near the auction close
- Fast availability of digital titles in the Buyer Dashboard
Salvato Auctions' Timed Auction model is a whole new way to buy salvage cars.
Visit SalvatoAuctions.com to learn more and register for FREE today.
About Salvato, Inc.
Salvato, Inc. is revolutionizing insurance vehicle auctions by connecting sellers, buyers, and towing & transport companies in a smarter model that delivers better financial outcomes for everyone involved. To learn more, visit SalvatoInc.com or register for upcoming auctions at SalvatoAuctions.com.
Media Contact:
media@salvatoauctions.com
