Dickson Group (Dickson), a prominent player in the automotive industry, is set to revolutionize the pre-owned vehicle market in Singapore with the introduction of the country’s first physical live auction. This groundbreaking auction aims to provide vehicle owners with the opportunity to secure higher returns for their pre-owned vehicles, in addition to the selling price offered by Dickson. By ensuring transparency and fair trading between sellers and dealers, this innovative auction is set to reshape the landscape of the pre-owned vehicle market.
The live auction allows vehicle owners, or sellers, to bring their vehicles to Dickson’s in-house valuation specialists for a fair quotation based on current market prices and the condition of their vehicles. Upon agreement, Dickson will pay the sellers the agreed prices when they hand over their vehicles on the specified date. Subsequently, these vehicles will be featured on the Dickson Live Auction platform, where sellers can benefit from higher-than-market prices through a competitive bidding process. For sellers interested in purchasing brand new vehicles, Dickson offers assistance with the payment of new vehicle registration prior to the handover of their pre-owned vehicles.
Dickson prioritizes the quality assurance of pre-owned vehicles through a comprehensive pre-auction inspection process. Conducted at Dickson’s in-house workshop, known as Dickson Auto Care Centre, the inspection involves a 38-point assessment of each vehicle’s condition. This includes an engine diagnosis scan, a thorough inspection for undercarriage damages, and a test drive to assess the vehicle’s drivability. Following the inspection, each vehicle undergoes a meticulous washing and sanitization process before being displayed at Dickson’s premises. To provide potential bidders with an opportunity to view the vehicles, Dickson shares a list of the vehicles that will be available for bidding one day prior to the auction.
The live auction takes place in a dedicated auction hall at Dickson’s building and is facilitated through a computerized system. Each bidding session for a vehicle lasts for 60 seconds, with all bidders seated in the Auction Hall and viewing the same vehicle simultaneously via their computers. The bidding results are displayed immediately, and the auction proceeds with the subsequent vehicles on the list. Sellers have the option to observe the live bidding for their own vehicle through a private viewing room located behind the hall. This feature ensures transparency in the bidding process and provides sellers with information about the final bid price.
In the event that the final bid price exceeds the agreed price offered to Dickson, the sellers will receive the full difference in price after deducting applicable fees. However, if the bid price falls below the agreed price, the seller can walk away without any obligation to compensate the difference, as they can be assured they have received the highest possible price for their vehicle.
Speaking about the innovative live auction, Mr. Kim Wah Boon, Founder and Chief Executive Officer of Dickson Group, expressed his hopes of empowering vehicle sellers to maximize the returns on their pre-owned vehicles. He acknowledged the difficulties faced by owners in obtaining the best prices for their vehicles and the concerns of buyers regarding the condition of the purchased vehicle. By introducing transparency and eliminating uncertainties, Dickson Group aims to enhance the overall experience for all parties involved.
The introduction of Dickson Group’s live auction is expected to be a game changer for the pre-owned vehicle market in Singapore. With its commitment to transparency and fair trading, Dickson Group enables car owners to confidently sell their vehicles and secure higher-than-market returns. Simultaneously, car dealers gain access to high-quality vehicles accompanied by comprehensive inspection reports.
The first live auction is scheduled to take place on July 18, 2023. Car owners interested in exploring this new auction platform can register directly with
