These gross sales occasions, usually held in areas akin to Harmony, facilitate the liquidation of automobiles deemed complete losses by insurance coverage corporations as a result of accidents, theft, or different lined incidents. These cars, starting from barely broken to closely impaired, are then supplied to potential patrons by way of a bidding course of.
Such auctions present alternatives for people, sellers, and salvage corporations to amass automobiles at doubtlessly diminished costs. These acquired automobiles could also be repaired and resold, dismantled for elements, or exported, contributing to the automotive recycling ecosystem and providing an avenue for cost-effective automobile acquisition. The follow additionally permits insurance coverage suppliers to recoup a few of their declare payouts.