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Like EBAY: Cars at auction between private individuals
Abroad this method has been working for decades, but in Israel car auctions have had a hard time rising, a new site called CARZOOM wants to change that. Will it work?
Tags
Auction
Used car
Second hand
Keenan Cohen
Monday, 11 January 2021, 08:15
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In the UK, auction houses like Bonhams are an old and well-known institution (Photo: PR, Bonhams Auction House)
Once in a while, when the American sports channels broadcast an auction of classic cars, this stabbing of the understanding of what motor boredom we are in Israel begins again.
So true, the first places in these sales are occupied by cars that would also have been sold in the country, there is a very low chance that a person from the community will go out with a 1932 Bugatti Tape 55 Super Sport that sold for $ 7.1 million this year.
But hey, in the smaller halls and surrounding sales yards you can find a plethora of opportunities like the Chevrolet Nova, El Camino, Ford Gran Torino, Mustangs and masses of vans for a few thousand dollars.
There, in the United States huge auctions like Mecum and RM are a huge industry, in the UK there is the Bonhams auction house but not only, online trading sites like eBay have long allowed people from all over the world to trade in the auction method and quite a few collectible and new cars Those who came to Israel did so on this platform.
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El Camino at EBAY Motors, heartache every time again ... (Photo: screenshot, EBAY screenshot)
However, it seems that in Israel, the whole field of car auctions is not really rising.
With the exception of a few attempts made in the past (such as that of the Budget Company in 2012), auctions today in Israel are made for receivership vehicles, auctions by the police or the government vehicle manager and sometimes by the army.
These sales are usually the hunting ground of car dealers who are willing to take a risk and buy cars without inspection or warranty and roll large quantities of vehicles - for the private customer this story is quite blocked in practice.
But a new site called CARZOOM wants to change this situation in Israel.
Behind the site is Eli Babkov who he knew from the world of auction trading decades ago when he lived in Australia, where a gas station attendant went on to become a manager and later a station owner when over the years he bought and sold auctions in the auction format from a nearby car park.
He later got to know this world on the other side of the globe in the United States as well, where eBay's auction site is rolling out a huge amount of deals.
How awesome?
As of a decade ago this was mechanical every 90 seconds, a classic car every 4 minutes and a Ford Mustang every 43 minutes.
From the CARZOOM website (Photo: Screenshot, CARZOOM screenshot)
"Years ago we would look for a car in a Friday newspaper," says Eli Babkov, "buy the newspaper early and quickly quickly search the car pages of ads, call, determine, check the car, then we went to sites and today we offer something else - you determine The time you budget for the sale, the price of your target and advertiser. "
The business model?
"Premium" placements on the site for paid sale ads that are promoted at the top of the display.
What is the barrier of Israelis when it comes to auctions?
I ask Eli and he claims it's just a matter of time "we are lagging behind in this area of car relative to the world".
But in fact there is probably more to it, the Israeli that no existential security or health threat deters him like making a bad deal on a car does not like the betting component of an auction.
He needs to know what the price list price is and how much he has paid in relation to it.
But one of the big differences in the auction process on the site for example, is that unlike the regular car sale process, the seller has the option to be exposed to buyers' pricing and bidding history by those interested in his car and not wait for further bids if he decides it is the right price.
Of course you can also contact the seller throughout the process for more information about the vehicle or to schedule an appointment.
Later on, a video call option will also be added to the site between the buyer and the seller.
As well as a consulting and accompaniment service for clients who are not interested in doing the process themselves.
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After visiting and browsing the site itself, the first conclusion is that it is still not sufficiently understood in the various sales processes and on the face of it looks like another sales board.
The browsing experience can and should be improved in order to be inviting both in the speed of the transition between the pages and in its organization.
For example, it is not possible to sort the ads on the site by type of sale (regular or auction) and you have to manually go through the dozens of ad pages on the site to find the ads in the auction route.
In addition, it is not possible to search in a price cut and when the supply ranges from Kia Picanto and Nissan Micra to Mercedes SL500 and BMW 5 Series the confusion is often great.
Even in the extended search if the model is listed in English and the ad is in Hebrew, the search results for the model are not accepted.
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Eli says that out of about 200 vehicles offered so far in the sale format, about 80 percent were sold at the seller's target price, with the most expensive car being a BMW 5 Series from 2017 at a price of about NIS 250,000.
In a random search for sale ads in the public format we found cars where the auction price was higher than the price at which similar cars are advertised in the second hand so it is not yet an automatic score and it is worth comparing the prices to what is happening in the market.
On the other hand, the regular sales pages also had a brand new mini SE for NIS 210,000 (cheaper by NIS 30,000 from the price in the showroom).
These are likely to be the first birth cords of a very unfamiliar format in Israel, and alongside them will be a process of learning for both parties, buying and selling this "format rules", which may just open up a new and interesting angle in the field of used vehicles in Israel.
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