7:45 am, April 24, 2013
AUTOEBID – a reverse bid auction site for new car sales – is officially being offered for sale, Car Dealer has learned.
The site, which has taken over £190 million of new vehicle orders over its lifespan, allows customers to submit a request for a new car – and has dealers and suppliers bid for their business.
With around a £181,000 turnover – and gross profits circa £145,000 – the site is bing offered at £1 million, with the figure including the site’s ‘fully automated system’, trademarks, domain names and database of ‘over 50,000 registered users’ and 1,600 suppliers.
The business reportedly has a 98 per cent customer satisfaction rate, along with recommendations from the likes of The Sunday Times and Which magazine, and has also won a number of awards since its inception 10 years ago.
Completely owner-run, the reason for sale is understood to come from current owner Amin Saleem’s desire to start another online business, this time outside of the car industry.
