You don’t need to be a millionaire to own some of the finest cars that made shock waves during the early years of the auto industry as eBay Inc. (NASDAQ:EBAY) has partnered with ClassicCars.com on sale of the cars for as little as $4,000. During an interview on Fox Business, ClassicCars.com CEO, Roger Falcione, reiterated that the partnership will not only be of benefit to ClassicCars.com but also eBay.
ClassicCars.com has been growing in popularity with a reported clientele base of 2.5 million all in need of some of the best deals for some of the classic cars. Under the partnership, sellers are to be given a one click option of uploading information related to their cars on eBay Inc. (NASDAQ:EBAY), in addition to being hosted on ClassicCars.com.
“This is a one of a kind program for eBay, it is one of the first times that they have actually partnered with another marketplace to provide more services for their clientele,” said Mr. Falcione.
The amount of traffic on eBay Inc. (NASDAQ:EBAY) online platform could be bolstered in the coming months as Fox Business reports that most of the 2.5 million people in need of classic cars could find their ways into eBay listings.
ClassicCars.com already accommodates up to 500 dealers on its network most of whom are expected to upload between 10-500 vehicles on eBay as the race to attract more buyer’s heats up
“We have thirty thousand cars for sale at any given time on the website and about nine million searches for cars. It is a very vibrant marketplace, and the prices go from anywhere from $4,000 right up to millions of dollars,” said Mr. Falcione.
Sellers of the cars are to be the biggest beneficiary of the agreement as the level of exposure is set to be increased on eBay Inc. (NASDAQ:EBAY), which is one of the biggest online platforms in the world. It waits to be seen if auction houses will be happy with ClassicCars.com move to partner with eBay as it is sure to offer some form of competition in the sale of classic cars.
Free Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW