Ritchie Brothers buy IAA

[97K15004WD]

IAA is now owned by the government auction people:

https://www.monitordaily.com/news-posts/ritchie-bros-completes-acquisition-of-iaa/

 

[GON]

Very sad news indeed. IAAI is the much better salvage auction when compared to Copart, on every level. I can't imagine any scenario where Ritchie Bros maintains IAA as the better of the two. I suspect a lot of fee increases and unfavorable changes to terms and conditions.

 

[Hall]

Heh, I didn't know Ritchie Bros was big like that. They have a facility/site along I-70 outside of Columbus OH that I see frequently. Sometimes their lot is jam-packed and the next time it's almost 100% empty.

 

[ZNV]

Very sad news indeed. IAAI is the much better salvage auction when compared to Copart, on every level. I can't imagine any scenario where Ritchie Bros maintains IAA as the better of the two. I suspect a lot of fee increases and unfavorable changes to terms and conditions.

Why do you think IAA is the better of the two? What's IAA like now?

 

[GON]

Why do you think IAA is the better of the two? What's IAA like now?

As of now I have not seen any changes at IAAI except fee increases since Ritchie purchased IAAI.

 

[ZNV]

thanks GON! What are the key differences in service between Copart and IAA? Why do you like IAA more?

 

[Snagglefoot]

Don’t be worried. Richie Brothers are good fellas.

 

[zzyzzx]

Stock has a P/E ratio of 71

 

[GON]

thanks GON! What are the key differences in service between Copart and IAA? Why do you like IAA more?

IAAI is a bit more humane/ user friendly to deal with. That is what is comes down to. On a good Copart note, many have been turned off by Copart business practices and lean much more towards IAAI, may equate less bidders at Copart. I rarely bid at Copart because they are a bear to complete a transaction with. But I think this results in occasional better deals at Copart.