Fil Ltd – ‘SC 13G’ on 7/5/00 re: Insurance Auto Auctions, Inc

On:  Wednesday, 7/5/00, at 2:28pm ET   ·   Accession #:  315066-0-999   ·   File #:  5-42080

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Statement of Beneficial Ownership   —   Schedule 13G
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13G      Schedule 13G - 06-30-2000 - Insurance Auto             6±    29K 
                          Auctions Incorporated                                  

Document Table of Contents

SCHEDULE 13G                                                                    

Amendment No. 0                                                                 
Insurance Auto Auctions Incorporated                                            
common stock                                                                    
Cusip # 457875102                                                               

Cusip # 457875102                                                               
Item 1: Reporting Person - Fidelity International Limited                       
Item 4: Bermuda                                                                 
Item 5: 116,100                                                                 
Item 6: 0                                                                       
Item 7: 116,100                                                                 
Item 8: 0                                                                       
Item 9: 1,306,200                                                               
Item 11:        11.269%                                                         
Item 12:            HC                                                          

Cusip # 457875102                                                               
Item 1: Reporting Person - Edward C. Johnson 3d                                 
Item 4: United States of America                                                
Item 5: 0                                                                       
Item 6: 0                                                                       
Item 7: 1,306,200                                                               
Item 8: 0                                                                       
Item 9: 1,306,200                                                               
Item 11:        11.269%                                                         
Item 12:        IN                                                              

Cusip # 457875102                                                               
Item 1: Reporting Person - Abigail P. Johnson                                   
Item 4: United States of America                                                
Item 5: 0                                                                       
Item 6: 0                                                                       
Item 7: 1,306,200                                                               
Item 8: 0                                                                       
Item 9: 1,306,200                                                               
Item 11:        11.269%                                                         
Item 12:        IN                                                              

SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS                                     
FILED PURSUANT TO RULE 13d-1(c)                                                 

Item 1(a).      Name of Issuer:                                                 

Insurance Auto Auctions Incorporated            

Item 1(b).      Name of Issuer's Principal Executive Offices:                   

850 East Algonquin Road                         
Suite 100                                       
Schaumburg, IL 60173-3855                       

Item 2(a).      Name of Person Filing:                                          

Fidelity International Limited                  

Item 2(b).      Address or Principal Business Office or, if None,               
Residence:                                                                      

Pembroke Hall, 42 Crowlane                      
Hamilton, Bermuda                               

Item 2(c).      Citizenship:                                                    

Not applicable                                  

Item 2(d).      Title of Class of Securities:                                   

common stock                                    

Item 2(e).      CUSIP Number:                                                   

457875102                                       

Item 3. This statement is filed pursuant to Rule 13d-1(c).                      

Not applicable                                  

Item 4. Ownership                                                               

(a)     Amount Beneficially Owned:      1,306,200               

(b)     Percent of Class:       11.269%                         

(c)     Number of shares as to which such person has:           

(i)     sole power to vote or to direct the vote:       116,100 

(ii)    shared power to vote or to direct the vote:     0       

(iii)   sole power to dispose or to direct the disposition of:  
116,100                                                         

(iv)    shared power to dispose or to direct the disposition of:
0                                                               

Item 5. Ownership of Five Percent or Less of a Common Stock.                    

Not applicable.                                                 

Item 6. Ownership of More than Five Percent on Behalf of Another                
Person.                                                                         

Various persons have the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, the            
common stock of Insurance Auto Auctions Incorporated.  No one person's          
interest in the common stock of Insurance Auto Auctions Incorporated is         
more than five percent of the total outstanding common stock.                   

Item 7. Identification and Classification of the Subsidiary Which               
Acquired the Security Being Reported on By the Parent Holding Company.          

See attached Exhibit(s) A, B, and C.                            

Item 8. Identification and Classification of Members of the Group.              

Not Applicable. See attached Exhibit A.                         

Item 9. Notice of Dissolution of Group.                                         

Not applicable.                                                 

Item 10.        Certification.                                                  

By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not          
held for the purpose of or with the effect of changing or influencing           
the control of the issuer of the securities and were not acquired and           
are not held in connection with or as a participant in any transaction          
having that purpose or effect.                                                  

Signature                                                                       

After reasonable inquiry and to the best of my knowledge and    
belief, I certify that the information set forth in this Schedule 13G           
in connection with Fidelity International Limited's beneficial                  
ownership of the common stock of Insurance Auto Auctions Incorporated           
at June 26, 2000 is true, complete and correct.                                 

June 29, 2000                                                   
Date                                                                            

Signature                                                                       

Eric D. Roiter                                                  
Duly authorized under Power of Attorney                         
dated December 30, 1997, by and on behalf                       
of Fidelity International Limited and it                        
direct and indirect subsidiaries                                

SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS                                     
FILED PURSUANT TO RULE 13d-1(c)                                                 

Pursuant to the instructions in Item 7 of Schedule 13G, Fidelity
Management & Research Company ("Fidelity"), 82 Devonshire Street,               
Boston, Massachusetts 02109, a wholly-owned subsidiary of FMR Corp. and         
an investment adviser registered under Section 203 of the Investment            
Advisers Act of 1940, is the beneficial owner of 790,400 shares or              
6.819% of the common stock outstanding of Insurance Auto Auctions               
Incorporated ("the Company") as a result of acting as investment                
adviser to various investment companies (the "funds") registered under          
Section 8 of the Investment Company Act of 1940.                                

 Edward C. Johnson 3d, FMR Corp., through its control of Fidelity,
and the funds collectively each has sole power to dispose of the                
790,400 shares owned by the Funds.                                              

Neither FMR Corp. nor Edward C. Johnson 3d, Chairman of FMR     
Corp., has the sole power to vote or direct the voting of the shares            
owned directly by the funds, which power resides with the funds' Boards         
of Trustees.  Fidelity carries out the voting of the shares under               
written guidelines established by the funds' Boards of Trustees.                

Fidelity Management Trust Company, 82 Devonshire Street, Boston,
Massachusetts 02109, a wholly-owned subsidiary of FMR Corp. and a bank          
as defined in Section 3(a)(6) of the Securities Exchange Act of 1934,           
is the beneficial owner of 399,700 shares or 3.448% of the common stock         
outstanding of the Company as a result of its serving as investment             
manager of the institutional account(s).                                        

Edward C. Johnson 3d and FMR Corp., through its control of      
Fidelity Management Trust Company, each has sole dispositive power over         
399,700 shares and sole power to vote or to direct the voting of                
399,700 shares.                                                                 

 Strategic Advisers, Inc., 82 Devonshire Street, Boston, MA 02109,
a wholly-owned subsidiary of FMR Corp. and an investment adviser                
registered under Section 203 of the Investment Advisers Act of 1940,            
provides investment advisory services to individuals. It does not have          
sole power to vote or direct the voting of shares of certain securities         
held for clients and has sole dispositive power over such securities.           
As such, FMR Corp.'s beneficial ownership may include shares                    
beneficially owned through Strategic Advisers, Inc.                             

Members of the Edward C. Johnson 3d family are the predominant  
owners of Class B shares of common stock of FMR Corp., representing             
approximately 49% of the voting power of FMR Corp.  Mr. Johnson 3d owns         
12.0% and Abigail Johnson owns 24.5% of the aggregate outstanding               
voting stock of FMR Corp.  Mr. Johnson 3d is Chairman of FMR Corp. and          
Abigail P. Johnson is a Director of FMR Corp.  The Johnson family group         
and all other Class B shareholders have entered into a shareholders'            
voting agreement under which all Class B shares will be voted in                
accordance with the majority vote of Class B shares.  Accordingly,              
through their ownership of voting common stock and the execution of the         
shareholders' voting agreement, members of the Johnson family may be            
deemed, under the Investment Company Act of 1940, to form a controlling         
group with respect to FMR Corp.                                                 

Fidelity International Limited, Pembroke Hall, 42 Crowlane,     
Hamilton, Bermuda, and various foreign-based subsidiaries provide               
investment advisory and management services to a number of non-U.S.             
investment companies and certain institutional investors.  Fidelity             
International Limited is the beneficial owner of 116,100 shares or              
1.001% of the common stock outstanding of the Company. Additional               
information with respect to the beneficial ownership of Fidelity                
International Limited is shown on Exhibit B.                                    

 FMR Corp. and Fidelity International Limited are of the view that
they are not acting as a "group" for purposes of Section 13(d) under            
the Securities Exchange Act of 1934 (the "1934 Act") and that they are          
not otherwise required to attribute to each other the "beneficial               
ownership" of securities "beneficially owned" by the other corporation          
within the meaning of Rule 13d-3 promulgated under the 1934 Act.                
Therefore, they are of the view that the shares held by the other               
corporation need not be aggregated for purposes of Section 13(d).               
However, Fidelity International Limited is making this filing on a              
voluntary basis as if all of the shares are beneficially owned by FMR           
Corp. and Fidelity International Limited on a joint basis.                      

EXHIBIT to SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS                          
FILED PURSUANT TO RULE 13d-1(c)                                                 

Pursuant to instructions in Item 7 of Schedule 13G, this Exhibit
has been prepared to identify Fidelity International Limited, Pembroke          
Hall, 42 Crow Lane, Hamilton, Bermuda, a Bermudan joint stock company           
incorporated for an unlimited duration by private act of the Bermuda            
Legislature (FIL) and an investment adviser to various investment               
companies (the "International Funds") and certain institutional                 
investors, as a beneficial owner of the 116,100 shares or 1.001% of the         
common stock outstanding of Insurance Auto Auctions Incorporated.               

Prior to June 30, 1980, FIL was a majority-owned subsidiary of  
Fidelity Management & Research Company (Fidelity), a wholly-owned               
subsidiary of FMR Corp.  On that date, the shares of FIL held by                
Fidelity were distributed, as a dividend,  to the shareholders of FMR           
Corp.  FIL currently operates as an entity independent of FMR Corp. and         
Fidelity.  The International Funds and FIL's other clients, with the            
exception of Fidelity and an affiliated company of Fidelity, are non-           
U.S. entities.                                                                  

A partnership controlled by Edward C. Johnson 3d and members of 
his family owns shares of FIL voting stock with the right to cast               
approximately 39.89% of the total votes which may be cast by all                
holders of FIL voting stock.  Mr. Johnson 3d is Chairman of FMR Corp.           
and FIL.  FMR Corp. and FIL are separate and independent corporate              
entities, and their Boards of Directors are generally composed of               
different individuals.  Other than when one serves as a sub adviser to          
the other, their investment decisions are made independently, and their         
clients are generally different organizations.                                  

 FMR Corp. and Fidelity International Limited are of the view that
they are not acting as a "group" for purposes of Section 13(d) under            
the Securities Exchange Act of 1934 (the "1934 Act") and that they are          
not otherwise required to attribute to each other the "beneficial               
ownership" of securities "beneficially owned" by the other corporation          
within the meaning of Rule 13d-3 promulgated under the 1934 Act.                
Therefore, they are of the view that the shares held by the other               
corporation need not be aggregated for purposes of Section 13(d).               
However, Fidelity International Limited is making this filing on a              
voluntary basis as if all of the shares are beneficially owned by FMR           
Corp. and Fidelity International Limited on a joint basis.                      

FIL has sole dispositive power over 116,100 shares owned by the 
International Funds. FIL has sole power to vote or direct the voting of         
116,100 shares of common stock held by the International Funds as               
reported above.                                                                 

SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS                                     
FILED PURSUANT TO RULE 13d-1(c)                                                 
RULE 13d-1(f)(1)  AGREEMENT                                                     

The undersigned persons, on June 29, 2000, agree and consent to 
the joint filing on their behalf of this Schedule 13G in connection             
with their beneficial ownership of the common stock of Insurance Auto           
Auctions Incorporated at June 26, 2000.                                         

Fidelity International Limited                                                  

By   /s/Eric D. Roiter                                                          
Eric D. Roiter                                                  
Duly authorized under Power of Attorney                         
dated December 30, 1997, by and on behalf                       
of Fidelity International Limited and its direct                
and indirect subsidiaries.                                                      

Edward C. Johnson 3d                                                            

By   /s/Eric D. Roiter                                                          
Eric D. Roiter                                                  
Duly authorized under Power of Attorney                         
dated December 30, 1997, by and on behalf                       
of Edward C. Johnson 3d.                                        

Abigail P. Johnson                                                              

By   /s/Eric D. Roiter                                                          
Eric D. Roiter                                                  
Duly authorized under Power of Attorney                         
dated December 30, 1997, by and on behalf                       
of Abigail P. Johnson.                                          

FMR Corp.                                                                       

By   /s/Eric D. Roiter                                                          
Eric D. Roiter                                                  
Duly authorized under Power of Attorney                         
dated December 30, 1997, by and on behalf                       
of FMR Corp. and its direct and indirect                        
subsidiaries.                                                                 

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘SC 13G’ Filing		Date		Other Filings
Filed on:		7/5/00		SC 13G
		6/29/00
		6/26/00
		12/30/97
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