Whatever the reason for buying or selling a vehicle, finding the right set of wheels and completing the sale on your existing car can be a time-consuming and frustrating process. But it is a process which the founder of auction site Hammer Price is hoping to simplify.
‘Buying and selling a car can be a long, drawn-out affair, with some potential buyers wasting your time and others entering into protracted negotiations,’ said founder Chris Price. ‘I have set out to create an environment where the stress is removed, as we facilitate that sale on your behalf.’
Chris was inspired to launch the business – the only local online auction site dedicated to vehicles – after ‘growing up around cars’.
‘My father initially worked in accident repair – an area in which I have also worked – but his main love is classic cars and that is something he has shared with me,’ said Chris. ‘I’ve always been involved in the industry, both professionally and as a hobby, having competed in motocross from the age of nine or ten, and then moving into rally-driving in my teenage years.’
With his interest in vehicles spanning everything from sports bikes and rally cars to classic vehicles, it was perhaps inevitable that his business venture would cover the full spectrum of motors.
‘We are very lucky to have a vast selection of vehicles in the Island, from the classic to the more modern performance cars, motorsport vehicles and everything in between, and we will list every type of car and motorbike on Hammer Price,’ said Chris.
‘One of the key priorities for Hammer Price is transparency. When you go to view a car, there is a lot to look at and a lot to take in, so you may not pick up on everything. With this platform, all the information is listed, along with a wide variety of pictures to create a full virtual-viewing experience and provide you with confidence to know exactly what you are bidding on.
‘As the facilitators of the sale, we get all the details from the vendor including the history and background of the vehicle. We also carry out due-diligence checks and ownership checks before accepting any vehicle for sale. When we create the listing, we detail all the good points about the car but, equally, if there is a scratch or a part that requires attention, we will highlight that as well so there are no surprises.’
And with the site reaching a global audience, Chris is keen to stress another potential benefit of listing a vehicle with Hammer Price.
‘We are in touch with car clubs across the UK, so listing a vehicle for sale with us, particularly if it is a classic car or a sports car, will give you access to a much wider customer base than you would have with a private sale. With more eyes and coverage on all our cars, the potential to sell is that much greater,’ he said. ‘Another advantage for the seller is that they retain ownership of the vehicle throughout the process. They can also set a reserve price, giving them an extra level of control.’
Having launched the site this month, Chris was inspired to set up the business during the recent lockdowns.
‘The pandemic gave me a chance to pause and think about whether there was an opportunity to set up a business which was aligned to my passion and hobbies,’ he explained. ‘The idea for Hammer Price came because there is a big market over here, with people buying and selling cars all the time. This is an opportunity to be a bit smarter and make that process much cleaner, slicker and hassle free.’
But it is not just cars for daily use where Chris sees potential.
‘A lot of cars now, especially the classics, are really going up in value and are a real investment, so, whether you are interested in them as a hobby, a project or an investment, it is a really interesting time to be buying and selling,’ he added.
For more information, or to register to buy or sell on the site, visit hammerprice.co.uk.