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Glossary of Terms used at Salvage World

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What is Salvage World

April 12, 2017

DAMAGE CODES

April 02, 2017

April 02, 2017

ACV

ACV, or Actual Cash Value, is the estimated retail value of the lot as submitted to Copart by the Seller. This is displayed as "Est. Retail Value" on each lot page. If the lot has been damaged, this is the value prior to the occurrence of the damage. Retail automobile values may be obtained from Kelley Blue Book and other sources on the web. This number is presented for informational purposes only. Salvage World makes no representations as to the validity or accuracy of the listed value.

Body Style

Body Style is the manufacturer's designation of the vehicle's configuration.

BID4U

BID4U represents the highest bidder during both the preliminary bidding process and the virtual auction. Simply enter the maximum price you are willing to pay for the lot during preliminary bidding, and BID4U will bid on your behalf up to your maximum bid during the virtual auction. BID4U will only bid one increment over the current bid to maintain your position as the highest bidder. This allows you to purchase a vehicle below your maximum bid if bidding doesn't meet or exceed your maximum bid.

Color

Color listed on this site is the common color name that reasonably represents the exterior color of the vehicle. Color is not the manufacturer's designated color name, but rather simply a general descriptive name.

Counter Bid

A Counter Bid is a bid that the Seller makes to counter the high bidder’s offer. Counter bids are made directly following the sale of vehicles designated by the Seller as Minimum to Bid or Bid to Be Approved. Members acknowledge and agree that regardless of any counter bids made by the Seller, Members’ high bids on these vehicles shall remain open to acceptance by the Seller until 6 p.m. the next business day after the sale day.

CrashedToys

Vehicles listed as CrashedToys are those that are located at CrashedToys specific yards. CrashedToys specializes in the sale of salvaged motorcycles, boats, jet skis and other power sport crafts. These vehicles are accompanied with additional photos and lot notes. Where applicable, videos are also available for these vehicles. Fee structure differs for these vehicles.

Current Bid

The Current Bid is the highest price offered for this lot at this time. There may be a higher maximum bid being represented by BID4U. The current bid is always listed in the currency of the country of the facility.

Current Sale Highlights

These are comments entered by the Copart general manager about the listed sale. They include lot information or important notices about a particular auction.

Cylinders

Cyclinders represent the manufacturer's designation of the vehicle's power train.

Damage Codes

Damage Codes are used to indicate known damage to the lot. Damage codes are listed as Primary Damage and Secondary Damage (2nd). Both damage codes indicate significant information about the lot and any one code should not be interpreted to carry more significance than the other.

AO ALL OVER BC BIOHAZARDOUS/CHEMICAL
BE BURN - ENGINE BI BURN - INTERIOR
BN BURN CC CASH FOR CLUNKERS
DH DAMAGE HISTORY FD FRAME DAMAGE REPORTED
FR FRONT END HL HAIL
MC MECHANICAL MN MINOR DENTS/SCRATCHES
NW NORMAL WEAR PR PARTIAL/INCOMPLETE REPAIR
RJ REJECTED REPAIR RO ROLLOVER
RR REAR END SD SIDE
ST STRIPPED TP TOP/ROOF
UK UNKNOWN UN UNDERCARRIAGE
VI MISSING/ALTERED VIN VN VANDALISM
VP REPLACED VIN WA WATER/FLOOD

These codes indicate known or reported damage only and are limited by their nature. Salvage World Auctions expressly disclaims the accuracy of damage codes, as information may not accurately reflect the type or extent of damage to any vehicle. Damage codes may not be used or relied upon for bidding purposes or for any other reason. Salvage World Auctionsstrongly recommends that Members thoroughly inspect lots before purchase.

Drive

Drive is the manufacturer's designation of the vehicle's power train.

Engine

Engine is the motor specification denoted by the VIN of the vehicle. Members are encouraged to inspect vehicles thoroughly before bidding to verify whether original equipment is present at time of sale

Estimated Retail Value

This represents the estimated retail value of the lot as submitted to Salvage World Auctions by the Seller. If the lot has been damaged, this is the value prior to the occurrence of the damage. Retail automobile values may be obtained from Kelley Blue Book and other sources on the web. This number is presented for informational purposes only. Salvage World Auctions makes no representations as to the validity or accuracy of the listed value.

Expected Future Date

Vehicles with an Expected Future Date descriptor have not yet been assigned to an auction. All title processing required to sell these vehicles has been completed and submitted to the proper titling authority. Salvage World Auctions is waiting for DMV processing to be completed. When DMV processing is completed, these vehicles will be assigned to an actual sale. Any Members bidding on these vehicles will be notified by email when the vehicle is assigned to a sale.

Fuel

Fuel indicates the fuel type used by the engine as designated by the VIN. 

Grid/Row

This marks the physical location of the vehicle at the yard.

Image

Salvage World Auctions takes ten (10) digital images of each vehicle processed for sale. Images are stored in JPEG format.

Item

Item numbers represent the order in which the lots will be sold during the live auction portion of VB3. Sales with a large number of items are broken down into lanes.

Item Numbers Condition Lane
1-500 Run & Drive Lots A
501-600 Rental Cars A
601-700 Motorcycles A
701-800 Boats/Jet Skins/Marine A
801-900 Heavy Equipment A
901-1000 Recreational Vehicles A
1001-1100 Other Goods A
1101-2000 Salvage Lots A
1101-2000 Salvage Lots A
2001-2500 Run & Drive Lots B
2501-3000 Salvage Lots B
3001-4000 Salvage Lots C
4001-5000 Salvage Lots D
5001-6000 Salvage Lots E

Keys

The Keys designation indicates whether Salvage World Auctions is in possession of the keys to the vehicle.

Location

Location designates the Salvage World Auctions facility that is processing the sale of the item. View Salvage World Auctionslocations.

Lot Number

Lot Number, or Lot #, is Salvage World's unique identifier for each vehicle. 

Make

Make is the manufacturer's brand name. 

Maximum Bid

The maximum bid is the highest amount that you are willing to pay for this lot. BID4U will incrementally bid on your behalf to keep other bidders from outbidding you, up to your maximum bid. 

Model

Model is the manufacturer’s designation of the lot.

Monster Bid

A Monster Bid is a bid of one or more increments over the current bid amount. During virtual auctions, Members may bypass the standard incremental successive bid amount and instead place a Monster Bid of their desired bid amount.

Odometer Descriptions

Odometer descriptions reflect the known reliability of the odometer reading. There are four odometer types:

ACTUAL – the odometer reading is believed to be the true and actual mileage of the lot.

EXEMPT – by Federal Law, no odometer code is required to be displayed for this lot.

NOT ACTUAL – the odometer reading does not correctly reflect the mileage of the lot or it cannot be known.

EXCEEDS MECHANICAL LIMITS – the true mileage of the lot cannot be expressed because it has exceeded the capacity of the odometer to measure it.

Offsite Sale

Offsite Sale vehicles are not physically located at a Salvage World facility but are sold during the
regular VB3 sale of the closest Salvage World facility. The 'preview' and 'pickup' location is listed on the Lot Details page. Please review the preview dates and times to make arrangements to inspect any item. Buyers will be responsible for pickup of the item from the location listed within the normal free storage period. All regular buyer fees apply to the sale of Offsite vehicles.

Region

Region signifies the Salvage World operating region of the facility.

Registration Fees

Brokers charge a one-time non-refundable registration fee for the activation of a Bidder Account. Registration fees may vary by Broker and may cover different time periods. See specific Broker Terms & Conditions for more information.

At this time, Salvage World does not charge registration fees to become a Salvage World Member. A fee for upgrading to Premier Membership is required, however. This is an initial $124.99 fee that must be accompanied by a fully refundable $500 deposit for Premier Account status.

Repair Cost

Repair Cost is the estimated cost to repair the vehicle as submitted to Salvage World by the Seller of the vehicle. The repair cost listed here may vary greatly from the actual cost to repair this vehicle. The availability and use of recycled parts, varying labor rates, paint times and so forth greatly affect the cost to repair any vehicle. Salvage World recommends that each bidder evaluate the damage to determine the extent of the necessary repairs. This number is presented for informational purposes only. Salvage World makes no representations as to the validity or accuracy of the listed value.

Sale Date

Sale Date is the weekday when designated inventory at a particular facility will go to auction. Sale dates vary by facility. Refer to our Auctions Calendar for a complete listing of sale dates.

Sale Time

Sale Time is the scheduled start time for an auction. Sale times are local to the facility in which a particular vehicle is stored.

Sales Status

Sales Status indicates the current status of the lot. Possible values and their meanings are:

  • Pure Sale - There is no minimum bid or reserve price. The lot will be awarded to the highest bidder at the close of bidding during the virtual auction.
  • On Approval - Seller has reserved the right to approve the final high bid achieved during the virtual auction. Seller has until 6:00 p.m. PST one business day after the sale to approve the bid. The high bidder is obligated to purchase the vehicle if released by the Seller within the approval period.
  • Minimum Bid - Seller has placed a reserve price on the lot. If the minimum bid is not surpassed during the virtual auction, Seller has until 6:00 p.m. PST one business day after the sale to accept the bid.

Security Deposit

All Brokers require security deposits and must be paid in full before you receive your bidder account. This security deposit protects the Broker if you fail to pay for an awarded vehicle. Failure to pay in full for any awarded vehicle will result in the loss of your security deposit and a revocation of your bidder account. Brokers will refund your deposit if you do not purchase a vehicle.

Special Note

The Special Note area is a place where important information about the lot is displayed for the Member's consideration when bidding. 

Starting Bid

The Starting Bid is the bid entered for a lot by the first bidder. Once entered, it becomes the current bid.

Sublot

Sublot vehicles are not physically stored at the main facility. Sublots are in proximity to the affiliated Salvage World location. Sublot locations are listed within the Vehicle Information section of our Lot Details pages.

Time Zone

Time Zone is the time zone in which the Salvage World facility is located.

Title Type

Title Type denotes the ownership documents that will be transferred to the Member. Each state issues a wide variety of different ownership documents. Each type of document carries with it certain ownership rights and certain restrictions or burdens. Members should research the viability of each type of title document for their intended use of the lot prior to bidding. Each state maintains information on its website for this purpose. Not all Members are able to bid on every title type; some require specific business licenses. Refer to our Licensing page for more information.

These are only the current ownership documents for this lot. They do not in any way represent or attempt to represent any prior history of the lot. You may check the title history of any clean title vehicle though companies such as AutoCheck.

Transaction Fees

Transaction Fees are the processing fees charged by Brokers.

VIN

A VIN is the Vehicle Identification Number assigned by the manufacturer.

Year

Year is the manufacturer's designated model year.

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