When sellers began offering actual automobiles in eBay's
Model Car category, eBay added a new category: eBay Motors. That
was in 2000. And today, eBay Motors is the No. 1 automotive site on
the internet, with more than 10 million unique visitors per
month.
"Consumers spend an incredible amount of time on eBay
Motors," says Rob Chesney, senior director of vehicles for
eBay Motors. "Of all the time spent doing anything automotive
on the web, 40 percent of those minutes are spent on eBay
Motors." And most of that time is spent doing business, as
evidenced by the fact that an automobile sells on eBay Motors every
single minute. In 2004, eBay Motors delivered $6.2 billion in
world-wide gross merchandise volume.
eBay Motors has some specific benefits for both buyers and
sellers. Buyers get more information about vehicles than they could
obtain from venues such as dealer lots and newspaper ads. "We
make it easy for buyers to find any vehicle they want, and to look
for features such as mileage, year, and ultimately, price,"
Chesney says. In addition, eBay provides numerous services and
features to support every step of the automobile buying process,
including vehicle history reports, purchase protection, access to
inspections and even financing.
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Sellers can tap a national marketplace at a low cost. For a fee
of $40 to list and another $40 when the sale is complete, vehicle
sellers once limited to local markets can present their wares to a
global audience of millions. Compare that to the $400 to $500 it
costs to advertise and merchandise a vehicle using conventional
means, and the economics become compelling. "We also offer
unique transactional aspects on the site," Chesney says.
Indeed, eBay Motors is far from just an advertising vehicle.
It's more like a seller's toolbox, with communications
channels to reach buyers, seller education and training, and a
galaxy of services to ease the entire process.
Expanding Your Dealership With eBay
Motors
Speed is one big reason eBay Motors is an effective way for an
automobile dealership to grow its business. "We end up giving
[dealers] access to buyers outside their typical local markets and
who are much further [along in] the buying process," Chesney
says.
Sellers who do best on eBay Motors take extra steps to make the
most of the channel. Perhaps the first step is to make sure you
have a distinctive presence. One way to do this is to create a
niche. Spe-cializing in one vehicle type helps you master pricing,
supply and other features of a given niche. Specialists are better
at sourcing, pricing and merchandising the right product the right
way.
Generally, the right vehicles for eBay Motors include aged
inventory that would otherwise be sold at auction or to a
wholesaler. Another winner: vehicles that don't sell well in
your region or climate, but are hot properties elsewhere. For
instance, vehicles from the Southwestern states such as Arizona
will be popular with buyers in states like Minnesota because the
vehicles will not have endured tough winters, which bring about
rust problems. Discontinued models, high-performance vehicles and
ones with strong fan followings are also good choices. For
hard-to-find cars, such as fuel-saving hybrids and diesel pickups,
eBay Motors is a natural fit.
Cement your ownership of the niche by creating an "About
Me" page. Describe your business and its history on eBay
Motors. Give prominent placement to feedback and ratings. Link to
related services and sites, such as your dealership's
website.
Consider hiring an employee dedicated full time to eBay Motors.
Having an internet sales manager increases the likelihood
you'll pick the right vehicles, list them well, price them
well, communicate effectively with bidders and complete sales in a
satisfactory manner.
Effective Listings
Vehicle listings are the linchpins of eBay Motors. Before listing,
spend time researching the vehicle and thinking about how
you'll present it. Study similar listings, visit manufacturer
websites, and read automotive reviews. In addition to basics such
as make, model, year and mileage, study up on engines,
transmissions, air conditioning, power windows, leather seats,
stereo systems and other features.
If you don't illustrate each listing with a dozen or more
photos, you're probably not giving buyers as much information
as they'd like. Also, be extra-sure to provide clear pictures
of any damage or excessive wear. Include shots of the front, back
and both sides. When photographing the exterior of the vehicle,
think of the buyer first approaching the vehicle and taking in its
overall appearance and style. It's important to provide a full
exterior view so the buyer can have a complete perspective of the
vehicle.
With your interior photography, document all the important
details that the customer will find inside the vehicle. Take
close-ups of the odometer, interior, dashboard, trunk and
engine.
Bolding, highlighting and other listing features draw attention,
drive more bids and generate higher sales prices. eBay Motors will
automatically populate the listing title based on the vehicle
information. The seller can use the subtitle to highlight specific
features of the vehicle or applicable terms that sellers may be
searching for on eBay Motors.
The next step is managing your listings. Monitor your listings
at least daily. Respond to bidders in a timely manner, and promptly
answer any questions from all visitors. Don't just talk to
bidders-check them out by looking at their feedback. Feedback
ratings can make or break a dealer's eBay Motors
reputation.
Closing the Sale
eBay Motors does much of the heavy lifting when it comes to closing
the sale. Still, a considerable amount is left up to the individual
dealer. To begin with, sellers who do a specified number of vehicle
sales may have to be licensed as dealers by their state. Check with
your state department of motor vehicles to find out whether you
will be required to obtain a dealer's license.
Before closing, sellers must clearly specify any fees or taxes
buyers will have to pay. State a reasonable time for deposits or
full payment to be received-eBay Motors gives buyers at least three
days for this process. Close price-sensitive buyers with the help
of Best Offer. This feature lets you negotiate online.
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