Trust & Transparency

So The Jalopy Auction House has been running for about two weeks now and we haven’t sold a damn thing. I was warned… The guy that created what is perhaps the most successful online automotive auction platform has been advising me since day one and well, he’s been right all along the way:

“Launch is gonna suck. You are gonna spend a ton of money and it’s going to seem like you are just flushing it down the toilet as it won’t lead to any transactions initially. People don’t trust what they don’t know and they don’t know you at all. This goes for both buyers and sellers.”

Thus far I’ve spent around $15,000 total on launching the site and promoting it. In return, I’ve got a site that I’d bet is the most secure auction platform on the internet and in the past week has gotten a shitload of traffic. We haven’t closed an auction yet that has gotten less than 350,000 page views.

But none of that really matters until I solve the trust factor. And like my buddy says, that goes both ways.

“Buyers have to trust the platform not only for security’s sake, but also in the representation of the cars themselves. You get that trust through transparency. Good photography, video, honest descriptions, and the obvious things like that.

The problem here lies with the sellers. You’ll find it will be impossible to demand the time it takes from sellers to really build a quality listing and provide that transparency the buyer needs – things like photos, recording video, and sitting down to write a detailed and honest description of their car is a time suck and a pain in the ass. It’s a risk for them as they have no idea how your auctions will perform.

Once you prove that performance, it will come much easier. It’s a cart before the horse deal and the only way around it is through… You guessed it – transparency. That and a whole lot of persistence and pain management. I think for your deal to work you are gonna need a little luck and a willingness to just do it your way for as long as you can possibly stand the pain.”

Seems grim, no? Add to that, the timing of my launch ended up being absolutely dismal. I had a race car accident, the great H.A.M.B. Alliance tag debacle, family emergencies to iron out, and all kinds of other shit that lead to sleep deprivation and distraction from the launch itself. But honestly, building the listings and writing the little mini-feature that comes with each has been really relaxing. Writing with a purpose is something I love to do and so… apart from the whole “money down the drain” thing, I’ve actually enjoyed the launch.

Eventually, I’ll have to stop spending so much money on promotion but I think by then we will have an audience base large enough for success. I can write forever. My stamina knows no bounds.

So yeah… That’s where we are with The Jalopy Auction House. It’s been wholly unsuccessful thus far, but oddly satisfying for me personally. The potential is still shining brightly and I haven’t lost any steam yet.

We had a ’65 Riviera Gran Sport that closed without meeting what I consider a fair reserve yesterday, but it’s gonna get re-listed next week. And here in a few hours, a ’36 Pickup will be closing that is fairly close to the reserve as I type this. Fingers crossed. Also, keep an eye on this shoebox – it’s reserve is lower than it’s value and I think we gotta shot with that one as well…

All of the auctions have reserve for obvious reasons, but I wouldn’t list one that I thought was out of line.

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Anyway, if you have a car you want to list – don’t hesitate to contact me. It’s free and you can set a reserve.