More than 30000 cars are sold every single day in the US. And with life being on such a fast lane, there is hardly anytime for one to go to a showroom and select a car. Instead people are now just traversing through the net and getting into cars deals online itself. One major reason this is that cars on the net are far cheaper than in the showroom. A simple reason for this is, there is no cost required for displaying the car instead a picture is made available for the customer. Some sites even give 3D view of the cars and an in dept information regarding the car which one might not find in case of a salesman. Though there are some disadvantages that one cannot bargain prices on the net, but then the prices on the net are far cheaper than the bargained ones on the showroom.
This had just started providing the consumers with competitive rates and when online car auctions came up it took the competitive rates even further down. Car auctions have meant life had become a bit easier for the consumer and difficult for the dealer. Traditionally auctioning was where an item was put up for sale and bidders would bid for it and eventually the highest bidder would end up buying it. With the markets so competitive dealer have now devised a new kind of auction called as reverse auctioning. Reverse auctioning works as follows: First the buyer quotes for a car request. Once buyer quotes a request for a car, all car dealers’ then start competing in a reverse auction. This is done for an auction duration set by the buyer, till a seller is found offering lowest price. Once the seller is found there is a dialogue between the seller and the buyer if they wish to continue with the purchase or sale of the car.These car auctions also done for used cars too and there are many sites on the internet dedicated to just sales of automobile. They work in the following way, a seller can post the information regarding the car he wants to sell and the buyer searches for the cars he is interested in buying. On finding a match he can contact the seller through the site and buy the product.