DriveDown aims to please people who would rather buy cars than bid on them

It’s not uncommon to see new car sales websites pop up. It’s the internet after all, anyone can buy one a domain and with the right skills, they can set up their own Bring a Trailer or eBay Motors, or any others like it. What is rather unusual however, is a new car sales website that actively avoids taking notes from the cool kids.

Now to me at least, the point of auctions is twofold: it drives up competition between people that really want that car and in turn drive up the money the seller gets. The downside to auctions is that if you’re not active in the final minutes of the auction, which is when the real “300”-style battles happen, you’re likely to miss out. Those kinds of battles can also artificially drive up market values on once-affordable cars. You’ve seen what happened to 240SX prices.

Image courtesy of DriveDown

DriveDown is different. As co-founder Mitch Scher put it best, “Don’t bid, buy.”

Selling cars is almost second nature to Mitch. His dad and grandpa both had dealerships so he’s always been in that environment of vehicles changing hands. When engineering didn’t quite work out as a degree, someone suggested dentistry as the aspect of working with your hands was more appealing than drawing plans and sitting at a computer. The money he earned from his job went into collecting cars, putting him on the other end of the transactions he saw his dad and grandpa carry out in his younger days.

Image courtesy of DriveDown

Mitch quickly found out that the auction process not only didn’t align with his schedule, but the constant lowball offers he got when it came to selling some of the cars in the collection were an aggravating waste of time. He wasn’t alone either; he got the same feedback from his fellow dentist and doctor friends. Rather than wait for someone else to make the changes he sought, he took matters into his own hands. Don’t they say that if you want something done right, you should do it yourself?

If you’re familiar with eBay’s “Buy It Now” feature, you’ll get the grasp of DriveDown’s basics. Each car initially goes live for 7 days and decreases in price by a pre-determined amount every day. It’s the opposite of an auction if you think about it. Rather than the price increasing every day, it decreases.

Image courtesy of DriveDown

If someone likes the car, they can just buy it on the spot without waiting to fight other interested buyers in a bidding war. If the seven days elapse and the car doesn’t sell, it then goes into “Last Call,” where it’s available at the lowest price the seller is willing to take for another 7 days. Interested buyers can also place a proxy offer, which is the higher number they’re willing to pay. The seller can either accept that, or keep waiting for someone else with a better offer to come along.

Each car goes through a manual vetting process, ensuring that all cars offered for sale are up to snuff for the kind of four-wheeled wonders DriveDown aims to represent.

“It’s something finally new. If you like a car, you either get it or you don’t,” Mitch said. “You can wait for the lower price but you then risk someone else buying it.”

Image courtesy of DriveDown

DriveDown had four cars listed in their first day, with three of those selling at their first day price. The goal is to have five new cars listed per day, with that number set to grow exponentially as the website itself grows.

It’s a neat idea for those who would rather skip the waiting and put their money where their mouth is. As for sellers, it avoids the obnoxious questions and tire kickers and lets people know up front what they’ll take. If it takes off, it may even halt collectors with deep pockets from driving up the final price of an auction and affecting the market itself. In the buying or selling mood? Have a look-see at DriveDown for yourself!

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