UAE held its largest live car auction this week. During the event, buyers and sellers both managed to derive maximum benefit.
Organizers of the event told Khaleej Times that some participants bought cars at half price. Buyers grabbed second-hand car deals that would have cost almost double at a dealership.
Marhaba Auctions’ Sunday evening auction in Sharjah Industrial Area-two drew over 2,000 people. The live auction offered 360 pre-owned cars for a variety of tastes and budgets.
Car fans and buyers had many choices. All auction cars were pre-inspected and guaranteed to be “green light,” meaning any bid of Dhs500 or more could win.
Marhaba Auctions Executive Director Zubair Rashidi says,
People could bid on cars very cheap 30-40% below market price. They could win gold bars and smart TVs and smartphones and a bunch of other prizes. It really was a show. We had all types of mixed type models, all types of prices, luxury, premium, economy, cars, all sorts of mixed types for people. So, we can cater to the demand that’s out there in the market. So, here the focus was mainly on cars that fall into the economy class. So, let’s put it this way. You go to the auto market, and you buy a car for let’s say Dh40,000 but here you will be able to get that same car between Dh20,000 to Dh25,000.
The auction was streamed live. The auction included luxury cars such as Land Rover Defender, Range Rover Vogue, Range Rover Sport, Mercedes S Class, BMW X5, BMW X7, etc.
