Insurance Auto Auctions

Insurance Auto Auctions (IAA) was founded in 1982 by Bradley Scott. The company carved a niche in the auto auction industry by specializing in the sale of total-loss vehicles, which are often sourced from insurance companies. This unique focus allowed IAA to grow steadily, providing a platform for buyers and sellers to transact efficiently.

Under Scott's leadership, IAA expanded its operations across the United States, becoming a key player in the auto auction market. The company's growth was marked by its ability to leverage technology to streamline auction processes, making it easier for participants to engage in transactions.

In a significant turn of events, IAA was acquired by Ritchie Bros. Auctioneers in March 2023. This acquisition was a strategic move to create a premier global marketplace leader in the auction industry. Under the terms of the merger agreement, IAA shareholders received a combination of cash and common shares, marking a new chapter in the company's history.

Today, IAA continues to operate as a vital component of Ritchie Bros., contributing to a broader portfolio of auction services. The journey of IAA from its founding to its acquisition highlights the company's adaptability and its pivotal role in transforming the auto auction landscape.