U.K.-based used-car marketplace PistonHeads, which is owned by CarGurus, has launched an online auction platform.
PistonHeads Auctions is an auction service for performance, classic and collectible vehicles.
It utilizes an automated bidding system: Buyers input the maximum price they are willing to pay and the platform then bids on their behalf around the clock. Moreover, PistonHeads Auctions uses a ‘no sniping’ setup that automatically extends an auction by two minutes if a bid is placed in the final two minutes of that auction.
Potential bidders can engage with the seller in PistonHeads’ Q&A section to ask questions about the car and its features.
“Buyers will benefit from our user-friendly interface and detailed descriptions and photos, making purchasing a vehicle easy, fast, and transparent,” said Pete Dignan, senior director of software engineering and consumer engagement at PistonHeads. “Sellers can be confident their vehicle will reach the right target audience and sell quickly for a fair price.”
“What really sets our platform apart is the Q&A section on listings, enabling integration with the PistonHeads community so that prospective buyers can ask questions about the vehicle and interact with other enthusiasts who share their passion for well-cared-for listings worth dreaming about.”