Two new car auction sites in South Africa promise to make sellers money fast
(Screen capture, belimobilgue.co.id)
- Two new platforms in South Africa promise to sell used vehicles within the day, including paperwork.
- Car owners will need to take their vehicles to inspection sites across the country, where a quick inspection and document check is carried out.
- Registered dealers can then bid for the vehicles from their cell phone or computer in a live auction.
South Africans will soon be able to sell their used vehicles in a matter of hours – including paperwork – on two similar platforms.
Auction.co.za and an unnamed platform owned by the Frontier Car Group (FCG) promise to disrupt an industry where sellers could usually wait weeks to sell used vehicles.
Auction.co.za will launch in September, while the Germany-based FCG platform is expected to launch before the end of the year. Naspers recently invested over R 1 billion in FCG.
Here’s how the platforms will work:
- Vehicle owners take their cars to inspection sites across the country, where a quick inspection and document check is carried out.
- Details and photographs of the car are uploaded to the online platform.
- Registered dealers can bid for vehicles from their mobile phone or computer in a live auction.
- Offers close before the end of each day.
Auction.co.za said it was not deterred by FCG’s entry into the market which already operates similar services successfully in Mexico and Indonesia.
The parent company of Auction.co.za, Dealers Online, has been operating in South Africa for 11 years and already sells more than 50,000 used 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 in banks, offering the public a complete end-to-end buying and selling solution.
Auction.co.za already has inspection centers across South Africa, while FCG is only expected to launch in Cape Town and Johannesburg at launch.
Business Insider SA is part of 24.com, a subsidiary of Media24, a Naspers company.
Receive a single WhatsApp every morning with all our latest news: click here.
Also from Business Insider South Africa: