The Most Crucial Car Auction Terms

AutoBidMaster is a great place to shop for vehicles. You can find passenger vehicles, sports cars, trucks, motorcycles, and many other options. We value our long-time clients, and we’re always glad to welcome new buyers looking for a vehicle they’ve always wanted. However, newcomers can sometimes be puzzled by the long list of terms and concepts used in car auctions. Understanding them can help you bid with confidence. We’ve compiled a glossary of common car auction terms you may see on AutoBidMaster.

Auto Auction Glossary

Body style (vehicle type): Represents a manufacturer’s designation for the vehicle’s body configuration (sedan/coupe/hatchback/SUV/MPV, etc.).

Bid4U: A user-friendly tool that will increase your bid up to your maximum in small increments to help you maintain the position of the highest bidder. Check out how it works here.

Color: A generic name for the paint color of a vehicle. It does not represent the exact name of the shade used by the manufacturer.

Current bid: The highest price offered for a particular lot at the moment.

Damage code: Indicates the damage a vehicle has sustained. Several damage codes signify different types of damage. We’ve already covered them in our previous post.

Drive and engine: Indicate the vehicle’s drivetrain and engine type listed in the vehicle information.

Estimated repair cost: An estimate of the cost required to repair a vehicle. Actual repair costs may vary significantly depending on the vehicle, parts, labor, and extent of the damage. AutoBidMaster isn’t responsible for the accuracy of information provided by the seller.

Estimated retail value: A ballpark estimate of what a vehicle may be worth after repairs. This figure is provided for informational purposes only and may vary depending on the vehicle’s condition, history, location, market demand, and other factors.

Fuel type: Indicates what type of fuel a vehicle uses.

Grid/Row: A unique number that identifies the physical location of a vehicle in a yard.

Item: The item number indicates the order in which lots are scheduled for auction.

Keys: This field informs clients whether AutoBidMaster has keys for a vehicle listed at an auto auction.

Location: Provides information about the yard or facility where a vehicle is located.

Lot number (Lot #): A unique identification number for each vehicle.

Make and model: The vehicle’s brand and model name.

Maximum bid: The maximum amount you are willing to pay for a vehicle.

Odometer: Represents the vehicle’s mileage. There are four types of odometer disclosures: actual, exempt, not actual, and “exceeds mechanical limits.”

Offsite sale: This indicator is used for vehicles located somewhere outside a yard’s facility. For more information about offsite sales and buying a car sight unseen, see this article.

Sale date: The date when the vehicle is scheduled to be offered for auction and live bidding.

Sales status: We’ve covered this in our previous blog post, so don’t hesitate to take a look here.

Security deposit: A temporary authorization hold on your card that determines your bidding power. See our Help Center article about security deposits for more information.

Sublot: Used for vehicles located at Copart’s affiliate facilities.

Title type (doc type): One of the most important fields for each vehicle listed on AutoBidMaster. It provides information about the type of ownership document associated with the vehicle. For additional vehicle history information, you can use ClearVIN to access VIN history reports.

Transaction fee(s): A fee we collect to process broker transactions. Customers with Advanced and Premium memberships may qualify for reduced fees.

VIN: A unique identification number assigned to each manufactured vehicle.

Year: Indicates the vehicle’s model year.

Ready to Start Bidding?

In short, this glossary covers many of the common car auction terms you’ll encounter before and during the bidding process. To get started, register, place the required security deposit, browse our daily-updated inventory, and find a vehicle that fits your needs. You can also explore our video guides to learn more about the auction process.

If you still have questions, contact us at +1 (503) 298-4300 (6:00 AM–4:00 PM GMT-8, Monday to Friday).