eBay among America’s biggest used car dealers
Friday, February 7th, 2003
“EBay hosted 300,000 used-vehicle sales last year. That’s just a sliver of the estimated 43 million used vehicles sold in the U.S. But in a highly fragmented market, eBay’s tally makes it among the largest used-car sellers in the country,” reports WSJ.com.
eBayers are willing to buy cars that are 1000s of miles away, sight unseen. They trust what they are getting. “Sellers often photograph their vehicles in copious detail because dealers who unload lemons through the site risk having their ‘feedback’ — a permanent rating left by buyers — tarnished by disappointed customers.”
No wonder eBay is mopping up in used cars. If you’ve ever haggled with a used car salesman, the opportunity to give the dude feedback in front of 60 million other buyers is exhilerating.