Classic Buys: Sight Unseen
April 1, 2005
According to Rothman, eBay sees itself as “a tool, a platform, an
enabler that helps make marketplaces more efficient.” Since automobiles first
rolled off of assembly lines, he says, there has been “very little innovation on
the distribution of cars. eBay Motors has moved the center of gravity over to
the consumer” to create a “revolution in the auto industry.”
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The reputations of buyers and sellers is key in the online world of eBay Motors.
After every transaction concludes, both parties may leave feedback that lets
the eBay community know whether or not everything went well. (Click image to enlarge)All of this begs the question of how, for example, anyone in California can spend tens of thousands of dollars on a car in Florida without ever having driven it. It would seem as sensible—and risky—as getting a mail-order bride. But eBay Motors’ 10 million monthly visitors disagree. Among them is Bill Thoreson, who purchased a 1967 Ford Mustang fastback on eBay with the help of Kompolt, an auction company that facilitated the sale. Because of the resources offered by Kompolt and eBay, Thoreson says his transaction—his first experience with an online auction—felt safe. “I think the most important thing to know before purchasing a high-end car on eBay is to really feel comfortable with the seller and the auction company. The staff at Kompolt was very professional at walking me through the process of registering, meeting the requirements of prequalifying, and test bidding,” he says. “It was also reassuring to me that eBay was involved because of the safeguards they have in place. The instructional information on their auction site was very helpful to me. This all made me feel very comfortable with the idea of bidding on a high-end car I’d never seen in person.”
Rothman, who bought a Porsche on eBay for himself, claims that the process of online car commerce can be highly personal. “Something that’s been completely underestimated is the intimacy that develops between the buyer and seller of a car,” he says. “Over the course of vehicle purchase, they get to know each other extremely well.”
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