NC ANTIQUES - Auctions And Estate Auctions








 

 

 


Used Cars For Sale On EBay


There are thousands of used cars for sale on eBay every single day. In fact, eBay Motors is the most profitable sales division on eBay and naturally there are many entrepreneurs who are interested in jumping into this market. For instance, eBay claims it sells an SUV every nine seconds and is the biggest online car dealer in America, exceeding the traditional car companies. In fact, there are 15 million cars sold over the Internet each year - and growing.

The recent rapid growth of the consignment business model has made the used car market even more enticing. Many sellers are able to sell cars they have never even seen and with no more risk than the cost of the auction listing. Some negotiators even persuade the car owner to pay for the ad, thereby risking no more than their time.

The biggest single issue for this business model is the trust of prospective buyers. After all, paying thousands or tens of thousands of dollars for a car sight unseen is an awesome leap of faith. Even buying for a plane ticket to go see a car before paying causes buyers to be uncomfortable.

The best way sellers can overcome this fear is to use an escrow service. eBay has a preferred service, and it's easiest to use that one.

An escrow service acts as a neutral third party. In an exchange of merchandise, the buyer sends his money to the escrow service and the seller ships the product to the buyer. The buyer usually has two days to inspect his purchase, and if he is happy, he notifies the escrow company who releases the money to the seller, minus its fee. If the buyer is dissatisfied, he returns the undamaged merchandise to the seller, and after the seller receives his merchandise back (in satisfactory condition), the escrow service returns the buyer's money. Thus both sides in the transaction are protected. The buyer almost always pays the fees for this, although sometimes buyer and seller split the cost.

eBay's offers a "Vehicle Services Division" specifically for dealing with the used cars, trucks, SUVs and almost anything else with wheels and a motor. The buyer can request a 160 point inspection performed before agreeing to the purchase. This is an inexpensive service and certainly will save the purchaser many headaches.

* The buyer pays a $125 fee that is non-refundable
* The seller is contacted and the inspection is carried outv * The buyer receives a reportv * The buyer chooses to go ahead with the purchase - or not

Another choice for the buyer is to deposit his payment with the escrow service and then take delivery of the vehicle. The seller ships the car after he knows the money his secure. The seller must provide tracking information, which is then verified.

The buyer has between one and 30 days to thoroughly inspect his new purchase (the period is negotiated between the two parties ahead of time). If this time expires and the escrow company has not heard from the buyer, it assumes he is happy and gives the purchase price to the seller.

The buyer may return his vehicle if he isn't happy and sometimes buyers and sellers work out partial payment agreements, the buyer being satisfied with some parts of the transaction, but not with others. If a dispute arises, it is settled by the American Arbitration Association.

The fee for this service is:

* $0 - $7,500 = value of vehicle: $125
* $7,500.01 to $15,000: $170
* $15,000.01 to $30,000: $200
* $30,000.01 to $50,000: $275
* $50,000+ = 6% of the value

Once both parties have agreed, the title transfer process begins and the escrow service will guarantee this too, for a fee of $95. The fee, naturally, doesn't include any transfer costs - it is only insurance that the title will be expedited to the satisfaction of both parties.

eBay's escrow service also offers a service that will ship cars almost anywhere in the world and will gather an auto history report to inform sellers if their new chariot has been salvaged or stolen, suffered flood or hail damage, been in a fire or accident, has had an odometer rollback or has been used as a police car, a rental or a taxi.

Anyone considering offering used cars for sale on eBay would be well advised to thoroughly learn the escrow services available and offer those to prospective buyers. The trust factor will skyrocket and your chances of completing sales will dramatically increase.

Learn how to sell on eBay with 16 hours of online instruction taught by a 10 year eBay veteran. Own an eBay business instead of an eBay hobby.


MORE RESOURCES:

Bloomberg

Vadim's Ferrari 250 GT Sells for $5.
BusinessWeek
Still, the Paris auctions saw few lots sell above valuations, suggesting that the market for more routine classics remains highly selective. Collectible cars often fetch higher prices through discreet transactions than at public auctions, dealers said.
Vadim's Ferrari 250 GT Sells for $5.8 Million in Paris AuctionBloomberg

all 4 news articles »


Treasury Yield Is 3 Basis Points From One-Week High Before Debt Auctions
Bloomberg
Treasury yields were three basis points from the most in a week on speculation investors will demand higher rates at $72 billion of note and bond sales that begin tomorrow, following a stronger-than-expected jobs report. The difference between rates on ...

and more »


Treasury Auctions Set for This Week
New York Times
The Treasury's schedule of financing this week includes Monday's regular weekly auction of new three- and six-month bills and an auction of four-week bills on Tuesday. At the close of the New York cash market on Friday, the rate on the outstanding ...



Ivory Coast's Cocoa Auctions Put Futures Market on Edge
Wall Street Journal
Last week, Ivory Coast, the source of more than one-third of the world's supply, launched a series of auctions to sell a portion of its 2012-13 crop, part of the eight-month-old government's plan to overhaul the industry and ensure a floor price for ...

and more »


Business Recorder

Scrutiny pays, but not always
Hindustan Times
Queues can be jumped, lotteries rigged and auction bids fixed. Without policing, none is inherently superior over the other two. To the extent that lotteries and early-bird schemes tend to create a black market, the original purpose of keeping prices ...
Spectrum sale seen to swell coffersCalcutta Telegraph
The court strikes backTimes of India
Mobile spectrum auction: avoid the controversy, please!Business Recorder
Business Standard -Hindu Business Line -Forbes India (blog)
all 521 news articles »


The Guardian

Tom Brady Game Jersey Sells for Thousands at Super Bowl Auction
Patch.com
The 2011 game jersey was purchased at The Super Bowl XLVI Live Auction in Indianapolis on Saturday, tripling the item's presale estimated value, Hunt Auctions reports. Brady wore the jersey during the Oct. 16 game against the Dallas Cowboys.
Tom Brady Jersey Auctions For $46KWRTV Indianapolis
Tom Brady Jersey Sells For $46K At Auction Before Super BowlHuffington Post
Super Bowl 2012 Buzz:Indianapolis Star
WLKY Louisville
all 531 news articles »


CAPS auction brings record haul
Salina.com
By CHRIS HUNTER As the bids poured in from the crowd on a Bud Light speaker at the 23rd Annual Celebrity Benefit Auction for Child Advocacy & Parenting Services, Dr. Merle "Boo" Hodges was hoping to get a crack at the speaker if it stayed lower than ...

and more »


Atlanta Shakespeare Company Auctions ROMEO & JULIET Table
Broadway World
ASC is holding an e-bay auction for a front-and-center table for two for their special Valentine's performance of Romeo and Juliet. The auction will be for the performance on Tuesday February 14, 2012. The winner of the auction will also receive two ...

and more »


Hindustan Times

IPL auction: Jadeja takes the cake with a cherry on top
Hindustan Times
IPL Chairman Rajeev Shukla (L) with owner of Mumbai Indians Nita Ambani and Kolkata Knight Riders owner Shah Rukh Khan at a press conference after auction of the players for IPL-5, in Bangalore. Like the past Indian Premier League auctions, ...
10 big facts about the IPL 5 auctionNDTV
IPL 5 auction held; 800+ crore spent: Tournament from April 4isikkim
Older players take a backseat at the 5th IPL auctionBusiness Today
Times of India -TruthDive -Newstrack India
all 379 news articles »


Hindustan Times

Sahara pullout dulls IPL auction proceedings
Times of India
BANGALORE: A series of phone calls, e-mail exchanges and personal interactions on the eve of the Indian Premier League (IPL) player auctions took a nasty turn at 2 am on Saturday morning. That was the moment Sahara Pune Warriors became convinced BCCI ...
Double blow for BCCI: Sahara ends sponsorship, quits IPLBusiness Standard
Franchises perturbed by Sahara pulloutESPNcricinfo.com
Shock before IPL auctions, Sahara dumps Pune, Team IndiaHindustan Times
TruthDive -Bangalore Mirror
all 469 news articles »

Google News

home | site map
© 2006