Tuesday, January 2, 2007

Resolutions

We've completed our first year at iLuxCars. It’s been an interesting drive. We started, on purpose, cautiously. We weren’t sure about several things, not the least of which was how we could ensure a great experience every time you bought or sold a vehicle.

We know that there is a good deal still to work out. For instance, we’ve know that transportation is still pretty fuzzy to most of you – that is, we’re still getting quite a bit of, “When will my car get here?” and, “What do you mean release the car without a title?”

Towards the end of the year we started putting our backs into the idea. And we can say now, with confidence that it’s working – working well. The feedback we’re getting from most of you has been overwhelmingly positive. While we have always been sure the market needs a flat, open, fair, and efficient marketplace for luxury vehicles, it’s reassuring to hear it from you.

We also hit some milestones last year that we just have to share. (We would have shouted about this earlier but we were busy). So, here’s a few interesting statistics, all since May of 2006:
  • 250 dealers
  • Over 100 million dollars worth of vehicles submitted
  • Average sales price: $91,722
  • Average Bid to Target: 92% (this means that on average, your asking price is about 8% high, although a good number of you are still overly optimistic)

For 2007, we’re resolving to do more. We promise to get a clear, readable user agreement to each and every one of you. We will fully explain and solve transportation. We will add more cool and useful features to the site. And, most importantly, we will continue to guarantee title, condition, and payment.

No comments: