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Copart Accelerates the Rollout of Virtual Bidding

BENICIA, Calif. -- Copart, Inc. has recently completed installing its Virtual Bidding product at the first 16 locations across the country. As of today, Copart's Virtual Bidding product is available for auctions in Albuquerque, Chicago, Denver, El Paso, Graham, Hammond, Indianapolis, Lexington, Madison, Milwaukee, Pasco Peoria, Pittsburgh, Portland, Salt Lake City and St. Louis.

"The Virtual Bidding product allows our buyers to bid on cars in real-time over the Internet at Copart.com," said A. Jayson Adair, Copart's President. "With Virtual Bidding, buyers now have three choices on how they can bid: attend the live auction; use our original Internet bidding product that opens for proxy bidding two weeks prior to the auction; or, bid live in real-time over the Internet with Virtual Bidding.

"The feedback from buyers and suppliers has been very positive. Buyers are pleased because Virtual Bidding allows them to follow auctions in real-time and bid based on the current market price. Our suppliers are pleased because Virtual Bidding brings more buyers to the auction, which generally causes returns to increase. Additionally, our suppliers can also follow along in real-time to see how their cars are doing at a particular sale. The Virtual Bidding product is only available at Copart."

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