Last $36.49 USD
Change Today +0.41 / 1.14%
Volume 372.6K
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As of 8:10 PM 04/17/14 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.), and Brazil. The company also provides vehicle remarketing services in the United Arab Emirates (U.A.E.), Germany and Spain. The company provides vehicle sellers with a range of services to process and sell vehicles primarily over the Internet through Virtual Bidding Second Generation Internet auction-style sales technology, which is referred to as VB2. It 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 majority of the vehicles sold on behalf of insurance companies are either damaged vehicles deemed a total loss or not economically repairable by the insurance companies or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made. In the U.S. and Canada (North America), Brazil and the U.A.E., 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. Service Offerings The company offers vehicle sellers a range of vehicle services, which expedite each stage of the vehicle sales process. The company’s service offerings include the following: Online Seller Access Through Copart Access, its Internet-based service for vehicle sellers, the company 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 its insurance company sellers repair estimates which allow the insurance company to determine if the vehicle is a total loss vehicle. If the vehicle is determined to be a total loss, it is generally assigned to inventory. End-of-Life Vehicle Processing In the U.K., the company is an authorized treatment facility, or ATF, for the disposal of End-of-Life vehicles, or ELVs. 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 the company to pick up most of its sellers’ vehicles within 24 hours. The company’s 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 disasters in North America. In the U.K., the company performs transportation services through a combination of its fleet of approximately 100 vehicles and third-party vehicle transport companies. Vehicle Inspection Stations The company offers some of its major insurance company sellers, office and yard space to house vehicle inspection stations on-site at its facilities. The company has approximately 90 vehicle inspection stations at its facilities. On-Demand Reporting The company provides vehicle sellers with real time data for vehicles that the company process for the particular seller. This includes vehicle sellers’ gross and net returns on each vehicle, service

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