Getting something out of nothing is what this junkyard doggedly pursues. Insurance Auto Auctions (IAA) is a leading US auto salvage company that auctions off vehicles declared as total losses for insurance purposes and were recovered from theft. It also offers collision-damaged rentals, dealer trade-ins, and fleet lease automobiles. IAA holds live auctions for licensed business buyers and the public at about 165 sites in the US and Canada. The company also allows buyers to place their bids online. Founded in 1982, IAA is owned by holding company KAR Auction Services.