Copart Notes VB2 Internet Tech Demo Auction

California-based Copart Inc. announced a Technology Demonstration Auction showcasing its real-time VB2 Internet auction-style product — enabling buyers to bid on more than 100 items and to experience the features that have driven the success of VB2 in the salvage vehicle auction industry. The VB2 Tech-Demo Auction will be held on Friday, Jan. 14, 11 a.m. Eastern at www.vb2.com.

“Our online auction on January 14th is designed to enable buyers of all kinds to use our innovative VB2 technology, and experience its unique real-time bidding approach that has made Copart the nation’s largest salvage vehicle auction provider with over one million (1,000,000) vehicles sold via the Internet in the last year,” said Willis Johnson, chairman and CEO of Copart.

Copart is currently working with 44 wholesale vehicle auctions, including 6 affiliated sites, to provide its proprietary VB2 auction technology for use in their auction process.

At the VB2 online auction on Jan. 14, more than 100 items will be available for purchase, including state of the art electronics, sporting goods, travel and leisure items, jewelry and contemporary art.

All items are available for “prebidding” immediately. To participate in the VB2 auction, buyers register at www.vb2.com where they will receive a $500 voucher toward their purchase at this auction. Copart’s vb2.com Web site includes photos and descriptions of each item.

Copart’s proprietary VB2 (Virtual Bidding Second Generation) technology allows buyers anywhere in the world to locate a desired item, preview it through digital images and technical data, and participate in real-time virtual auctions via the Internet. VB2 combines two powerful bidding processes: an open competitive Preliminary Bidding period followed by a Virtual Auction conducted exclusively over the Internet.