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With the articles reference to second had car sales it interesting to compare to British Car Auctions (BCA) here in the UK. They have something like a 60% marke
by samwillis 5y ago
With the articles reference to second had car sales it interesting to compare to British Car Auctions (BCA) here in the UK. They have something like a 60% market share on second had sales, they are completely dominant as the central “trading house” for second hand sales. Most second hand car forecourts are buying a significant portion of their cars from a BCA auction.
The other thing they have which compares to what Zillow were doing is webuyanycar.com. It is literally what it says, you get a quote from their site to value it, go to their location and they buy your car. When I did it I was there for just 7 minutes, easiest car sale ever! And they payed be nearly 1k more than anyone else.
They are truly the market makers with this system, ensuring a steady stream of cars into their auctions. Have full visibility in real time of the pricing on both sides and are only holding the cars for about one week.
Some argue that they were a major contributing factor to the used car price inflation last year (on top of the issues with new car availability).
- lotsofpulp 5y ago> Some argue that they were a major contributing factor to the used car price inflation last year (on top of the issues with new cad availability). And they would be wrong. Market makers do not get to set prices, supply and demand does.