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1.10.2008

Selling Your Car Online or Selling the Most Famous Car on the Planet

Here is a cautionary tale that I hope has a happy ending for everyone:

John Schneider, you know- Bo Duke of the Duke’s of Hazard? Well, he is selling his General Lee again. Well, he is trying to sell his General Lee again and this time he will be successful. What he probably learned in the previous attempts are useful to anyone who would like to try to sell their car online.

Schneider first tried to sell his General Lee last year on eBay Motors and he tried more than once. Schneider was heard to joke that his auctions got more hits than his last 2 movies and while eBay Marketing employees were going crazy trying to push the auction, Schneider was busy trying to promote a movie that he was trying to make. Here are some lessons that you can learn from those auctions:

General Lee: By relying on promotions that this was the General Lee, the auction managers were so excited by the bids that soared to $8 million that they neglected to make sure that they bidders were real and the auction ended with a fake high bid.
Your Car: Everyone loves promoting how well they took care of their car and want the most money that they can possibly get but not all buyers are for real. Be realistic, communicate with potential buyers and verify that they are who they claim to be.

General Lee: The second auction only got the opening bid and did not meet reserve so remained unsold.
Your Car: Buyers like to know that there is a ceiling to the sellers expected price so, although frantic bidding can generate a fun auction, not using some kind of Buy It Now to indicate that there is a price that they can reach and actually buy the car will put buyers off bidding. It will especially bore them if the opening bid is so low that they just give up because they don’t want to play games- they want to buy a car. Reserves may protect your perceived value but can be detrimental.

General Lee: Not that Schneider shouldn’t be proud of this car but “Bo’s General Lee” is not a General Lee from the 1979 TV show but is one from the Duke’s reunion movie. The TV Lees were Corvette Flame Red and the movie Lees, like Schneider’s that he is selling, are Big Bad Orange.
Your Car: Be proud of your car but don’t try to misrepresent it. You would want full disclosure about a vehicle’s history if your were a buyer and unlike selling your by putting a sign in a window, an online ad is your words and they are in print for all the world to see.

So, as for Bo’s General Lee that will be auctioned this week at Barrett Jackson in Arizona, it is a beautiful orange 1969 Dodge Charger and this time, there is no reserve and a portion of the proceeds of the sale will benefit Cure Autism Now. I think that Schneider learned his lesson of how not to sell a car and now every one will win.

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