Two new SA car auction sites promise to get sellers their money fast - here's what we know
- Two new platforms in South Africa promise to sell used vehicles within a day, paperwork included.
- Car owners will have to bring their vehicles to inspection sites across the country, where a quick inspection and document check are conducted.
- Registered dealers can then bid for the vehicles from their cellphone or computers in a live auction.
South Africans will soon be able to sell their used vehicles within hours - paperwork included - on two similar platforms.
Auction.co.za and a still-to-be-named platform owned by the Frontier Car Group (FCG) promise to disrupt an industry where sellers typically could wait weeks to sell second-hand vehicles.
Auction.co.za will be launching in September, while the platform from German-based FCG is set to launch before the end of the year. Naspers recently invested more than R1 billion in FCG.
Here’s how the platforms will work:
- Vehicle owners bring their cars to inspection sites across the country, where a quick inspection and document check are conducted.
- Details and photographs of the car are uploaded to the online platform.
- Registered dealers can bid for the vehicles from their cellphone or computers in a live auction.
- The deals close before the end of each day.
Auction.co.za said it is not deterred by FCG’s entrance to the market which already operates similar successful services in Mexico and Indonesia.
Auction.co.za’s parent company, DealersOnline, has been operating in South Africa the past 11 years, and already sells over 50,000 second-hand vehicles in the country per year.
“We are aware of Frontier Car Group coming to South Africa... We already have the infrastructure, as well as the buyers and sellers in our current environment,” co-founders William Miller told Business Insider South Africa.
“We are [also] coupling [our infrastructure] with integrations into the banks, offering the public a full end-to-end buying as well as selling solution.”
Auction.co.za already has inspection centres across South Africa, while FCG is expected to only launch in Cape Town and Johannesburg at launch.
Business Insider SA is part of 24.com, a subsidiary of Media24, a Naspers company.
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