Auction Information

Used Cars For Sale On EBay


There are thousands of used cars for sale on eBay everysingle day. In fact, eBay Motors is the most profitablesales division on eBay and naturally there are manyentrepreneurs who are interested in jumping into thismarket. For instance, eBay claims it sells an SUV every nineseconds and is the biggest online car dealer in America,exceeding the traditional car companies. In fact, there are15 million cars sold over the Internet each year - andgrowing.

The recent rapid growth of the consignment business modelhas made the used car market even more enticing. Manysellers are able to sell cars they have never even seen andwith no more risk than the cost of the auction listing. Somenegotiators even persuade the car owner to pay for the ad,thereby risking no more than their time.

The biggest single issue for this business model is thetrust of prospective buyers. After all, paying thousands ortens of thousands of dollars for a car sight unseen is anawesome leap of faith. Even buying for a plane ticket to gosee a car before paying causes buyers to be uncomfortable.

The best way sellers can overcome this fear is to use anescrow service. eBay has a preferred service, and it'seasiest to use that one.

An escrow service acts as a neutral third party. In anexchange of merchandise, the buyer sends his money to theescrow service and the seller ships the product to thebuyer. The buyer usually has two days to inspect hispurchase, and if he is happy, he notifies the escrow companywho releases the money to the seller, minus its fee. If thebuyer is dissatisfied, he returns the undamaged merchandiseto the seller, and after the seller receives his merchandiseback (in satisfactory condition), the escrow service returnsthe buyer's money. Thus both sides in the transaction areprotected. The buyer almost always pays the fees for this,although sometimes buyer and seller split the cost.

eBay's offers a "Vehicle Services Division" specifically fordealing with the used cars, trucks, SUVs and almost anythingelse with wheels and a motor. The buyer can request a 160point inspection performed before agreeing to the purchase.This is an inexpensive service and certainly will save thepurchaser many headaches.

* The buyer pays a $125 fee that is non-refundable
* The seller is contacted and the inspection is carried outv* The buyer receives a reportv* The buyer chooses to go ahead with the purchase - or not

Another choice for the buyer is to deposit his payment withthe escrow service and then take delivery of the vehicle.The seller ships the car after he knows the money hissecure. The seller must provide tracking information, whichis then verified.

The buyer has between one and 30 days to thoroughly inspecthis new purchase (the period is negotiated between the twoparties ahead of time). If this time expires and the escrowcompany has not heard from the buyer, it assumes he is happyand gives the purchase price to the seller.

The buyer may return his vehicle if he isn't happy andsometimes buyers and sellers work out partial paymentagreements, the buyer being satisfied with some parts of thetransaction, but not with others. If a dispute arises, it issettled by the American Arbitration Association.

The fee for this service is:

* $0 - $7,500 = value of vehicle: $125
* $7,500.01 to $15,000: $170
* $15,000.01 to $30,000: $200
* $30,000.01 to $50,000: $275
* $50,000+ = 6% of the value

Once both parties have agreed, the title transfer processbegins and the escrow service will guarantee this too, for afee of $95. The fee, naturally, doesn't include any transfercosts - it is only insurance that the title will beexpedited to the satisfaction of both parties.

eBay's escrow service also offers a service that will shipcars almost anywhere in the world and will gather an autohistory report to inform sellers if their new chariot hasbeen salvaged or stolen, suffered flood or hail damage, beenin a fire or accident, has had an odometer rollback or hasbeen used as a police car, a rental or a taxi.

Anyone considering offering used cars for sale on eBay wouldbe well advised to thoroughly learn the escrow servicesavailable and offer those to prospective buyers. The trustfactor will skyrocket and your chances of completing saleswill dramatically increase.

Learn how to sell on eBay with 16 hours of online instruction taught by a 10 year eBay veteran. Own an eBay business instead of an eBay hobby.


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


Blue Mountain Eagle

Foreclosure auctions considered a success
Blue Mountain Eagle
Grant County earned about $168,000 from an open auction held May 17 to sell tax-foreclosed properties and about $155,000 on a silent auction with bids opening June 15 for the remaining properties. Thirty-one tax-foreclosed properties were deeded to the ...



ECM Publishers

Two Large Collection Auctions
ECM Publishers
July 1 • 11:00 AM. 460 Cokato St W, Cokato, MN. 20+ Gas Engines (hit & Miss), Maytags, alum. trailer, fire fighter collectibles, home furnishings, mower & snowblower, bike, collectibles, gun shop collector retirement, guns parts, wooden duck decoys ...



Nasdaq

China plans to introduce anonymous bond auctions system
Nasdaq
In a notice confirmed by the sources, the China Foreign Exchange Trade System (CFETS), also known as the National Interbank Funding Center, said that the anonymous bond auction system would apply to bonds with high-yield and low-liquidity ...



Minnesota Monthly (blog)

Minnesota's First Fine Arts Auction House
Minnesota Monthly (blog)
Last year, Sean Blanchet and Robert Snell met at the Minnesota Antiques Dealers Association's Antiques and Decorative Arts Show. This year, they came back, young kids in tow, and set up a huge booth together under the name Revere Auctions.



Deadspin

NBA Auctions Off What J.R. Smith Wore When He Lost What Was ...
Deadspin
A token of J.R. Smith's eternal shame is up for sale on the NBA's auction site. “He played 38 minutes and registered 10 points with 2 assists and 6 rebounds,” ...
NBA Auctions JR Smith's Game-Worn Jersey From Game 1 of NBA FinalsSports Illustrated
JR Smith Game 1 jersey up for auction; how much would you bid?cleveland.com
JR Smith's jersey from his infamous Game 1 gaffe in the NBA Finals is up for auctionCBSSports.com
NESN.com -NBA Auctions
all 54 news articles »


Hurriyet Daily News

Turkish Treasury borrows over $1.4B through auctions
Hurriyet Daily News
The Turkish Treasury borrowed a total of 6.72 billion Turkish liras ($1.42 billion) from domestic markets on June 18, according to an official statement.
Turkey's Treasury holds auctions to borrow over $1.5BAnadolu Agency

all 4 news articles »


Ridgefield, CT Estate with Award-Winning Gardens Scheduled for Luxury Auction® June 29th
PR Newswire (press release)
RIDGEFIELD, Conn., June 19, 2018 /PRNewswire/ -- Following the successful sale of a 10-acre country home in Redding, CT, Miami-based Platinum Luxury Auctions has announced another, upcoming real estate auction in the town of Ridgefield. On June 29 ...

and more »


HelloGiggles

People are bidding tens of thousands of dollars for this single Dorito
HelloGiggles
It's an experiment gone oh-so-right and delicious. Late last week, Doritos unveiled a dinosaur-sized nacho cheese-flavored chip in partnership with Jurassic World: Fallen Kingdom (in the collaboration of our Jeff Goldblum dreams). And now, for a ...

and more »


FOX5 Las Vegas

Jerry Lewis and movie memorabilia auction at Planet Hollywood
FOX5 Las Vegas
Planet Hollywood Las Vegas Resort & Casino is scheduled to host an auction where famous pop culture items are up for bids, as well as Jerry Lewis's former belongings. Items once owned by Marilyn Monroe, Elvis Presley and Lucille Ball are expected to ...
Jerry Lewis' Daughter Shows Off Her Dad's Personal Items Going Up for Auction in Las VegasInside Edition
Jerry Lewis auction preview: From 'The Nutty Professor' to personal itemsNews3LV
'Star Wars,' Jerry Lewis, Trump items on auction in Las VegasLas Vegas Review-Journal

all 8 news articles »


Variety

Animation Memorabilia From Collection of Voice Actress June Foray Going Up for Auction
Variety
Memorabilia from the private collection of late voice actress June Foray will be up for auction beginning at 1 p.m. at Heritage Auctions. Foray is best known as the voice of Rocky the Flying Squirrel in the various “Rocky and Bullwinkle” series, Cindy ...


Google News

home | site map
© 2006