Wednesday, November 21, 2007

Rejected

Thursday, as most of you know, is a Holiday. (Happy Thanksgiving!) We trust you'll spend it enjoying turkey, cranberries, some overpriced young nouveau wine, and possibly even your family.

When you get back to work on Friday you'll notice that many of your vehicles have had their bidding closed. If you want to reopen bidding until the deal expires you can now Reject the offer. (Fresh Trade deals only). To do this click on iLuxCars Offers, choose the deal you want to Reject, and click 'Reject.' The bidding will be reopened until the deal expires (usually the next day.)

Your account representatives will be available Friday - we're an Internet company - so feel free to call us with any questions.

Enjoy your day off too - next week is going to be busy.

Thursday, November 15, 2007

Tweaks

Tuesday night (late), we rolled out some new rules: The Rules Are Changing. Wouldn't you know it, only a day later and we've discovered a few things that aren't quite right. So, in the interest of providing you with the sort of service you deserve - we're doing another update. Tonight. Hopefully not as late.

There are 5 important changes:
  1. Fresh Trades will now expire 24 hours after bidding closes (not 2). This is to allow you, the seller, the time to make your retail deal and accept the iLuxCars offer. (If your car is entered on a Friday, bidding closes Monday at noon and the deal expires Tuesday at noon.) Inventory deals still expire 2 hours after the bidding closes.
  2. If your deal expires and you decide to reopen the vehicle you must lower your asking price (Reserve Price) by at least $100. Our single largest complaint (even including how much email we send) is that the reserve prices are too high. (this is wholesale, remember?) This rule helps address that concern.
  3. We've removed the "Reject" button. Reject was never really used the way we thought it would be and we felt that it was causing too much confusion.
  4. We've simplified the process when you forget your password. From now on all you need to do is to enter your email address and click the button. We'll send you your current password. If you have ANY problems, give us a call and we'll step you through it.
  5. If you have enough money on your car and you want to let it run until the bidding closes, let us know and we'll mark the car "Selling All The Way." When we have a car that is "Selling All The Way" the system will automatically accept the highest offer when the bidding closes.

Tuesday, November 13, 2007

The Rules Are Changing

We're rolling out some new rules for the site. These come about after much discussion both internally and externally. The first set of changes all relate to deal and bid expiration:
  1. Bidding will close at 12:00 PM PST for all deals (Fresh Trade and Inventory).
  2. For Fresh Trade deals, the bidding will close the next business day.
  3. For Inventory deals, the bidding will close 2 business days later.
  4. If you enter the vehicle on Friday, the bidding will close Monday at noon.
  5. All Inventory deals will expire 2 hours after the bidding closes.
  6. All Fresh Trade deals will expire 24 hours after the bidding closes. This is to allow you time to close your retail deal.
  7. You must accept the offer before expiration or the bids will no longer be committed. You don't have to wait until the end of bidding to accept. You can reopen the vehicle, but the bidding process will start over.
  8. Your bid is committed only until the deal expires.

The other change only applies to Dealer Inventory deals. After talking to many of you over the last couple of weeks, we've gathered that the vast majority of you know the amount you need to make your deal. You are all putting an asking (or reserve) price that, if met, will make your deal. (Many of you are a still a little confused on the definition of "wholesale", but we're working on that).

So, from now on, if a bid meets or exceeds your asking (or reserve) price the system will automatically accept the offer on your behalf and start the process of getting you paid and your car delivered to the buyer. Which is, of course, our whole purpose - get you paid and get the car delivered, fast.

For bidders, you will now see both the reserve status and the bidding close date as soon as you bid. Also, we're leaving you on the 'Make An Offer' page after you bid (for those of you who want to bid on multiple cars). Bidding, if you're new to the network, is super simple. It takes exactly 2 clicks. Choose the car, enter your bid, click Next, click Submit. That's it.

iLuxCars - Faster. Safer. Better. The only sensible way to trade.

Sunday, November 4, 2007

Selling All The Way

Some of you know that we're constantly working the site, trying to make it better, more useful, more fair, and, of course, simpler. We do a substantial update about twice a month, most of the time, however, it isn't something that leaps out and say "we've changed something."

This weekend is a little different - we're changing something. The reason we're making the changes is because you wanted us to. Last month we signed up our 700th member. This means that there are 700 potential buyers and 700 potential sellers in the network, and, from the site's perspective, 700 potential users with comments about how they would like the application to work.

What we've heard most from our 700 members is that they really, really want to know when a car can be bought. That is - when is a car selling all the way? So, we've got a new way to handle this. Here's the major changes:
  1. Bidding now closes on all deals at 11:00 AM PST. (that's sunny Southern California time).
  2. If a car's asking price is met (or exceeded) the system will automatically mark the car "Selling All the Way."
  3. When a car is marked "Selling All The Way" an email and text notification is sent to all members who are able to bid the car. The email is to remind you that the vehicle is selling when the bidding closes.
  4. If you are the bidder on a car and you've exceeded the seller's asking price (reserve), we'll tell you in your bid confirmation email.
  5. If the deal is "Dealer Inventory" then when the bidding closes, the system will automatically accept the deal on behalf of the seller and we'll go to work moving your car, title, and money.
  6. If the deal is a "Fresh Trade" your account representative will contact you shortly after bidding closes (11:00 AM PST) to determine the status of the deal.

So, big changes around "Selling All The Way." As always, we want your feedback, especially if this doesn't make sense. iLuxCars - the only sensible way to trade.