The Karyanis family has a rich history in the automotive business, with more than 30 years of experience selling vehicles in the Cambridge, Mass. area. bringing their inventory online to reach a larger customer base. Cadillac City Inc., the long-time family wholesale dealership, merged with the eMotorGroup.com in early May to form City Motor Group.
Charles Karyanis III, vice president of City Motor Group, said the success of selling vehicles on the Internet and specifically eBay Motors enabled the company to make the change. Karyanis, a third-generation automotive dealer, had previously sold a small proportion of the dealership’s inventory on eBay Motors, while the majority of its business came from selling wholesale on its lot, located across the Charles River from the city of Boston.
Now Karyanis is moving the majority of the inventory online, finding he can reach more potential buyers enabling him to move inventory quicker and maximize profits.
"We’ve been reaching a larger audience,” he said. “Last month, we sold a car to someone in Israel and two people in Russia. It’s a great way to showcase our cars.”
Karyanis started selling a few cars on eBay Motors after hearing from a customer how successfully the site worked. After listing only a few vehicles per month at first, Karyanis increased his eBay Motors sales rapidly and now sells around 20 per month.
In his time selling on eBay Motors, Karyanis has found that being open to new ideas and willing to adapt strategies has allowed him to succeed.
Recently, Karyanis has altered his listing strategy on eBay Motors, using the new Best Offer feature. Previously, he had always included a “Buy it Now” option with his listings, but after hearing about “Best Offer,” he decided to try selling several vehicles via the new format.
With Best Offer, dealers have a new way to negotiate online with their customers to make selling through eBay Motors more like managing a best offer face-to-face on the lot, putting the dealing back into their dealer operations.
“My first vehicle sold and the process was very easy,” Karyanis said. “I’ve had good success with my Best Offer listings.”
Karyanis added the format allows buyers more options when bidding on a vehicle.
“It’s a good way for someone to make an offer and not feel like they have to wait until the end of the auction,” he said.
In addition, the format also helps Karyanis keep customer offers in a controlled format and safely complete transactions on the eBay Motors platform.
“I’d rather have the sale complete on eBay Motors, so the customers have the protections offered by the site,” he said.
By selling through eBay Motors, he not only is able to provide customers protections offered by the site but also can build his online feedback. He said the interactions with buyers have been very enjoyable. His favorite story came from a gentleman in Virginia who found a 2003 BMW 745 compact and was so comfortable with the listing and Karyanis’ feedback, he hit “Buy it Now” without even contacting Karyanis. And when he got the vehicle, he was not disappointed.
“Everyday is a great experience,” Karyanis said. “We’ve had great success with eBay Motors.”
Vol 2, Issue 7
Dominion Dealer Solutions announced the release or update of new vehicle-history, CRM, and inventory-management technology.