There’s a perception that comes with eBay Motors. Because eBay is an auction site that allows people to buy or sell just about anything they’d want, some believe that it’s only a venue for the obscure and hard to find. This isn’t the case in the automotive industry.
Statistics privately supplied by automotive posting service LotVantage reveal that car shoppers are turning to eBay more often for even common vehicle searches. To test this out, we did several searches for common used vehicles that anyone could easily find on non-auction sites or even dealer websites. The example above is one of the examples that surprised us even knowing the information that LotVantage supplied.
The vehicle isn’t an unrestored Herbie the Love Bug VW or a Euro-Bumper 1988 BMW M5. It’s a 2013 Ford F-150, one of the most common vehicles available. Fourteen people have viewed it per hour. Three are watching it. While it has no bids, it still has six days left. This has a good chance of being sold.
What is it about eBay that makes it appealing to consumers? We thought about it, asked about it, and researched it and come up with these reasons:
- People Trust It – For better or for worse, eBay has become a trusted place to buy used items. The seller scoring option gives consumers peace of mind when the seller has a good reputation.
- Specificity – There’s a rear for every seat, or so the saying goes. People or dealers who have very specific models with particular options can find someone for the seats on eBay. Consumers who are looking for a white Limited 4×4 may not find a suitable one at their local dealership, so eBay comes to the rescue.
- Perception of Good Deals – This isn’t always true, but the perception is still there. Because some of the vehicles sold on eBay are very good deals. In the example above, Kelley Blue Book lists the same truck in excellent condition $2600 higher than the “Buy it Now” price. Again, not all deals on eBay are good, but it isn’t hard to make a reasonable profit while retailing the unit through eBay.
- Erasing Regional Preference – There are times when the shipping cost of a vehicle is less than the additional cost of buying it locally. Some vehicles cost more in different places, so buyers can look to eBay to purchase a vehicle across the country and not have to pay the extra cost associated with their region.
- Ease – Everyone knows the challenges associated with going in to buy a vehicle. Many people do not like the experience and having a service that allows them to complete the transaction online can be appealing.
There are plenty of reasons people selling their car or even car dealers should consider using eBay. It may be one of the oldest popular sites for ecommerce, but that doesn’t mean it’s irrelevant today.