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One man's trash is another man's treasure.
These days, car dealers are paying not less than $30,000 per annum to a skilled salesperson to handle clients in a one-on-one sale of used cars. Each year, millions of such cars are sold but only after lengthy negotiations with clients. Not a happy situation for car dealers around the world.
Is there an easier, faster and better way to such transactions? Online auctions seem to offer one of the most lucrative ways out for both car dealers and buyers. Let’s find out how.
Benefits of Online Auctions to Dealers/Sellers
Benefits of Online Auctions to Buyers
Catering to a Niche Market
An e-auction caters to this niche market with a variety of bidding types. Dealers can upload pictures of their vehicle with all the specifications such as manufacturer, model, year and price . Similar to an offline auto auction, online auctions go through a bidding process and the ultimately buy. This type of electronic transactions consume less time and cost less money on the part of both dealers and consumers.
Steady Growth in Coming Years
In the United States, online auto auctions are growing in popularity with each passing day. With market research reports predicting steady growth of global used car market during the next four years (CAGR of about 7%), the trend for online car auctions is only going to be intensified.
It is no-brainer that people who face budgetary constraints are always searching for a cheaper and fairer deal through such auctions loaded with cars for sale. Such cars are definitely cheaper than their conventional counterparts. If you are getting a good bargain on such cars online, why choose the time-consuming process of face-to-face negotiations with dealers. Also auctions online are known to be secure and reliable so far. Think about it.