Info

Copart, Inc. is a provider of vehicle remarketing services in United States and United Kingdom. The Company provides vehicle suppliers, primarily insurance companies, with a range of remarketing services to process and sell salvage vehicles primarily over the Internet through the Company’s Virtual Bidding Internet auction-style sales technology, which it refers to as VB2. The Company sells principally to licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers and exporters. In United States, it sells vehicles primarily as an agent and derive revenue primarily from sales transaction fees paid by vehicle suppliers and vehicle buyers, as well as related fees for services, such as towing and storage. In United Kingdom, it operates primarily on a principal basis, purchasing the salvage vehicle outright from the insurance companies and reselling the vehicle to buyers through a combination of live auctions and Internet sales.(Source: 10-K)