KVD was founded in 1991 in Sweden under the name of Kvarndammen. At the time it was a consultancy company with four employees. 

The Swedish economy was in crisis in the early 1990s, and KVD’s business concept was to help finance companies and banks to sell off existing leased vehicles and to take care of repossessions, valuations and sales of bankrupt estates in West Sweden. A few years later the company started to offer these services to companies and authorities all over the country, and in 1994 they moved into a sales facility in Kungälv, where public auctions were held every week. This building remains KVD’s head office to this day.  

In the late 1990s, more and more cars were being sold at auction at KVD, and they decided to set up a website where lists of cars being auctioned were published. In the year 2000, potential buyers were also able to place advance bids online ahead of the auctions. Placing bids online became increasingly popular in due course, and selling customers gradually started to ask for their vehicles to be auctioned solely online. Since the end of 2007, all objects have been sold at KVD through online auctions. 

In 2007, 60 per cent of the company was sold to AP6 (Sjätte AP-fonden), making it the majority shareholder. More facilities for the receipt and delivery of vehicles opened all over Sweden, and the marketplace kvd.se was attracting almost 200,000 unique visitors every week. Since 2010, KVD has been owned by the private equity company Ratos. 2010 also saw the launch of the English-language website kvdauctions.com, which is aimed at buyers outside Sweden’s borders. KVD’s international expansion started in 2012, when the company set up operations in Norway. KVD now has around 180 employees and 14 facilities in the Nordic region. Every year the company acts as an intermediary for more than 23,000 vehicles and 5,600 machines and HGVs to a value of SEK 2.8 billion.