Cars move into auction
GOING once, going twice, sold to the highest bidder! The auction concept is relatively novel to automotive sector, but PAJ Imports Limited’s principal Michael Powell believes consumers are now being sold on the idea.
Come Sunday, the used-car dealer will be hosting his fourth annual event, Jamaica Auto Auction, at 76 Constant Spring Road in Kingston. He said consumers are the biggest winners at these auctions.
“The consumers are the ones who are in control as they determine the final prices of the vehicles. So they leave the auction very satisfied with their deals,” Powell told the Jamaica Observer’s weekly Auto magazine.
The used-car dealer said a customer can leave the auction with a vehicle costing $300,000 to $400,000, which values twice that.
“People will have the opportunity to get better prices,” he said.
He is also encouraged by the buzz ahead of the event.
“There has been a rise in registrations. The word has been getting out,” he said.
Powell said he saw the auctions in Japan and decided to bring it home, with a few adjustments.
“We introduced it in 2014, but tweaked it... making it member driven... So far, we are doing pretty good as we have a number of repeat bidders and for this year, there is an increase in registrations,” he said.
According to Powell, prospective bidders are required to pay a non-refundable $3,000 to be eligible to participate in the auction. On