Specialist Automotive & Salvage Vehicles Auction Website For Sale

Business description

The business was established by our client in the year 2000. Having been brought up with a family within the salvage industry, our client identified an opportunity to better offer these salvage vehicles for sale, and subsequently fine tuned the website we have today. The business is an internet based auction site that is used solely for offering damaged, stolen recovered, and finance repossession vehicles for sale. Superior to traditional methods of retail or auction, in that this method can bring together buyers from across the UK and abroad, creating a more competitive market place. The business model now has 10 auction partners who list the majority of the vehicles for sale. These vehicles are complimented by a small number from private members, although these are listed in a separate section. These vehicles are then auctioned on a Friday, with 3 car auctions and 1 commercial auction per week, each with multiple lots. The auctions are real time, but each bid extends the auction time by 5 minutes to enable more bids to be made. Additional sections within the site include ?Spares Junction? in which parts can be offered (this section is cross referenced against damage listed on each vehicle auction, for ease of use). And a classified section that includes other motor services such as transport etc. The website is fully automated with listings done by each auction partner or individual, and is totally bespoke with the exception of a licensed auction software package that is fully paid up for the lifetime of its use.Income is generated from listing fees for each vehicle, final sale commission fees, and from a small quarterly registration fee that is asked for members who are purchasing a vehicle.

Property information

Property:

Freehold

Location:

home based

Other information

Reasons for selling:

Our client is now offering the business for sale as he wishes to pursue a change of business interests.