CAPE TOWN – Launching on September 3, auction.co.za is set to disrupt the vehicle sales industry, much like Uber and Airbnb did in their industries. The platform will offer an alternative digital marketplace for South African consumers when buying and selling vehicles.
Auction.co.za 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 perfecting algorithms to drive this innovation. Big data, backed by technology, is good news for second-hand car sales, as consumers will ultimately reap the rewards.
Co-founder of auction.co.za, William Miller, said: “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.”
DealersOnline sells more than 5 000 vehicles a month from corporate fleets, rental companies, dealers, banks and original equipment manufacturers (OEMs), so it is a natural progression to give consumers their own marketplace.
“The business model is simple: our drive is that the end consumer gains,” said Renaldo de Jager, also co-founder of the business. “We provide auto 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.”
This means that sellers will be now be able to get the maximum value for their vehicle and buyers will know exactly what they are buying.
Consumers will be able to participate in auctions from their desktop or on their cellphones and local banks and insurers will be offered financing, insurance and ancillary services.
Vehicle buyers will have access to pre-approved loans prior to bidding. 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 (which will also benefit banks).
Auction.co.za’s aim is to bring transparency back to the used-car sales industry. This means that consumers will feel more comfortable knowing that they are buying and selling vehicles at an authentic market-related price.