eBay's Amazing Track Record
A car is sold every minute on eBay Motors, which has amounted to a total of 3.5 million passenger vehicle transactions over the span of its history. A company spokesman said that a classic car is sold every nine minutes and the Ford Mustang is its top-selling vehicle. Over the course of our eBay auction, more than 6,900 people viewed our page.
But what about price? "It's really on a case-by-case basis, where auctions work best for some types of cars and the fixed price listing format works better for others," said Danny Chang, senior manager at eBay Motors. "The value of eBay is that it's a marketplace offering both an auction and a fixed price model, so depending on the many factors that go into the online sale of a vehicle, the seller can choose which method best fits, and the market will ultimately bear out a fair price."
But what about doubts buyers might have about the car's condition? "Buyers are definitely more open to purchasing vehicles online," Chang said. "We even have buyers purchasing vehicles via their mobile phones through eBay's mobile application. Also, 75 percent of vehicles sold on eBay Motors [in the third quarter of 2009] were interstate transactions, indicating a high trust factor among buyers and sellers."
For more sales strategies, see "Buying and Selling Cars on eBay."