Buyer Protection

I never really know what to do with logos like this. As far as industry standard, there you are. But, that's the deal... standard. It will fit in with the rest of the logos out there. The client will probably even go for it. BUT-

There is a LOT going on here. Gradients, gleams, drop shadows, bolts, etc. What stands out as especially unnecessary to me are the sprockets and chain. Anything you would lose by making this black and white and stamp-sized you can probably get rid of.
The type isn't bad, there is just so much of it and so much going on with it.
The idea of a shield will work, the colors will work, the font will work... it just all needs to be simplified.
In my HUMBLE opinion.
Sorry if I rained on your parade.

Is it a good design? - no.
Is it well executed? - no.
Is it kind of shit that makes laymen and amateurs who lack education and even average visual standards do the happy dance? - OH YES!

So, yeah... Car Auction company will like it and there is nothing we can do about it.

Too complex, too many elements. Try to design the logo in just black and white first.