Based in Dallas, TX, Copart, Inc. was founded in 1982. The company provides online auctions and a wide range of remarketing services to process and sell salvage and clean-title vehicles. This is done mainly over the Internet, through its Virtual Bidding Third Generation (VB3) Internet auction-style sales technology. Sellers are primarily insurance companies, banks and financial institutions, charities, car dealerships, fleet operators and vehicle rental companies. Buyers include licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers and exporters, along with the general public.

Copart’s services include online supplier access, salvage estimation services, end-of-life vehicle processing, virtual insured exchange, transportation services, vehicle inspection stations, on-demand reporting, DMV processing and flexible vehicle processing programs, among others.

The company primarily has two revenue streams: service revenue and purchased vehicles. Copart derives service revenues from vehicle sales when it acts as an intermediary. In such cases, the firm doesn't take ownership of the vehicle. It makes money through fees when it is auctioned through its website. Purchased vehicle revenues come from sales when Copart acquires ownership of the vehicle and sells it at a higher price, pocketing the difference.

In the United States, Canada, Brazil, the Republic of Ireland, Finland, the U.A.E., Oman, Bahrain and Spain, Copart sells vehicles primarily as an agent and earns revenue from auction-related sales transaction fees paid by vehicle suppliers and buyers as well as the associated fees for services following the auction, such as towing and storage. In the United Kingdom, Spain and Germany, it operates both as an agent and on a principal basis. It also serves as an agent in the United Kingdom. In Germany and Spain, Copart also generates revenue from sales listing fees for listing vehicles on behalf of insurance companies.

With operations at more than 200 locations in 11 countries, Copart has more than 250,000 vehicles available online every day. The company currently operates in the United States, Canada, the United Kingdom, Brazil, the Republic of Ireland, Germany, Finland, the United Arab Emirates, Oman, Bahrain and Spain.