respect.
the purchase. The salesperson offered the customer a Live Video Presentation or video tour of the truck on “WhatsApp.” The salesperson walked around the truck, with the customer online looking the truck over bumper to bumper and everything in between including under the hood and under carriage of the truck. The gentleman decided that he would forgo the inspection, after having a 20 minute live overview of the vehicle, and he purchased the truck, saving the customer over $2,400.00 in additional cost. Some say that it is a small savings when it comes to the average $150,000 - $400,000 vehicle sold by Gateway Classic Cars, but it still adds up especially for the sellers. That is where you see the differences between Gateway’s platform and that of traditional auctions by Barrett-Jackson, Mecum and RM Sotheby’s. At a traditional classic and exotic car auction the seller has an initial cost of $1500 - $2500 per vehicle to have their vehicle in the auction line up, but that is just the tip of the auction iceberg. The owner must also accom- pany their cars at auction which could be from 1 to 6
The internet also plays an important role in connect- ing buyers with their vehicles, since 90% of Gateway Classic Cars are sold sight unseen. Thanks to the internet, the sales team can show vehicles to anyone in the world by offering a Live Video Presentation of a vehicle. Akbani told Spotlight on Business about a gentleman from Australia that was talking to a sales- person and was interested in one of theirs trucks but wanted to get the truck inspected before finalizing
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SPOTLIGHT ON BUSINESS MAGAZINE • JANUARY 2020
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