New site set to dis­rupt mar­ket

AUC­TION NEWS

Business Day - Motor News - - PRE-OWNED NEWS - Mo­tor News Re­porter

Launch­ing in Septem­ber, the own­ers of auc­tion.co.za say their new site will dis­rupt the auto sales in­dus­try, much like Uber and Airbnb did in their in­dus­tries.

The plat­form aims to of­fer an al­ter­na­tive dig­i­tal mar­ket­place for South African con­sumers when buy­ing and sell­ing ve­hi­cles. The com­pany says it wants to com­pletely change the way peo­ple buy and sell cars, bring­ing back trans­parency to the core of sales.

As an an­cil­lary of Deal­er­sOn­line, auc­tion.co.za has 11 years of ex­pe­ri­ence in the on­line auc­tion space, ac­cu­mu­lat­ing auto data and cre­at­ing al­go­rithms to drive its lat­est in­no­va­tion. Big data, backed by tech­nol­ogy, is good news for sec­ond­hand car sales, as con­sumers will ul­ti­mately reap the re­wards, says the com­pany be­hind the project.

Deal­er­sOn­line says it sells more than 5,000 ve­hi­cles month from cor­po­rate fleets, rental firms, deal­ers, banks and OEMs and it says it is a nat­u­ral pro­gres­sion to give con­sumers their own mar­ket­place.

Co-founder of the com­pany be­hind the project, Wil­liam Miller, says: “We are putting the buy­ing and sell­ing power back into the hands of the con­sumer, who will now be able to buy or sell their ve­hi­cle on­line. Cor­po­rate fleet own­ers will also be able to of­fload their fleet of ve­hi­cles through us.”

“The busi­ness model is sim­ple: our drive is that the end con­sumer gains,” adds Re­naldo de Jager, also co-founder of the busi­ness. “We pro­vide car sell­ers with a desk­top val­u­a­tion, giv­ing con­sumers in­sight into the real value of their ve­hi­cle prior to sell­ing.

“As a tech-driven on­line ser­vice, trans­parency is a key fo­cus be­cause we in­spect and test drive ev­ery car, giv­ing it a rat­ing. A list of ex­actly what is wrong with the car is in­cluded in the on­line ve­hi­cle pro­file al­low­ing buy­ers to make an in­formed de­ci­sion as op­posed to hav­ing to live with hid­den de­fects.”

Sell­ers will be now be able to get the max­i­mum value for their ve­hi­cle and buy­ers will know ex­actly what they’re buy­ing.

AS A TECH-DRIVEN ON­LINE SER­VICE, TRANS­PARENCY IS A KEY FO­CUS BE­CAUSE WE IN­SPECT AND TEST DRIVE EV­ERY CAR

Con­sumers will be able to par­tic­i­pate in auc­tions from their desk­top or on their cell­phones and lo­cal banks and in­sur­ers will be of­fer­ing fi­nanc­ing, in­sur­ance and an­cil­lary ser­vices. Buy­ers will have ac­cess to preap­proved loans prior to bid­ding.

The com­pany claims that those in dan­ger of hav­ing their ve­hi­cles re­pos­sessed will be able to achieve higher value, as the pub­lic will be able to par­tic­i­pate in th­ese auc­tions although of course that can only be tested once the site ac­tu­ally be­gins trad­ing.

The com­pany says the role of the op­er­a­tion is to pro­vide ad­di­tional trans­parency in the used car sales in­dus­try.

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