Cape Town - Do want to buy or sell a car online but are not sure what a good price is? Online classifieds provider Gumtree has built a tool that helps buyers and sellers to figure out whether they getting a deal - or being ripped off.
"Comparison shopping, particularly due the volume of cars on the site, can be difficult," said Jeff Osborne, head of Gumtree Automotive.
The online tool works by aggregating all the information of vehicles sold on the site.
The Gumtree tool analyses the price of cars sold on the site. (Duncan Alfreds, Fin24)
You simply input your car's make and model and it spits out the average price for that vehicle, as well as the price based on the number of kilometres and year of a particular model.
"For example, a customer could click on the 'Volkswagen' brand and view a chart of the average price of a Volkswagen sold over the last 90 days, see whether or not the price has increased or decreased and then view the detailed prices for every individual Volkswagen model available on the site," said eBay-owned Gumtree.
The tool can help buyers and sellers decide on whether an offer is realistic, and Osborne said that interesting patterns have emerged.
"The most popular cars fall in the R120 000 - R250 000 price range, but there are also quite expensive models up for grabs. Several Ferraris, Maseratis and vintage cars are being sold on Gumtree."
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"Comparison shopping, particularly due the volume of cars on the site, can be difficult," said Jeff Osborne, head of Gumtree Automotive.
The online tool works by aggregating all the information of vehicles sold on the site.
The Gumtree tool analyses the price of cars sold on the site. (Duncan Alfreds, Fin24)
You simply input your car's make and model and it spits out the average price for that vehicle, as well as the price based on the number of kilometres and year of a particular model.
"For example, a customer could click on the 'Volkswagen' brand and view a chart of the average price of a Volkswagen sold over the last 90 days, see whether or not the price has increased or decreased and then view the detailed prices for every individual Volkswagen model available on the site," said eBay-owned Gumtree.
The tool can help buyers and sellers decide on whether an offer is realistic, and Osborne said that interesting patterns have emerged.
"The most popular cars fall in the R120 000 - R250 000 price range, but there are also quite expensive models up for grabs. Several Ferraris, Maseratis and vintage cars are being sold on Gumtree."
- Follow Duncan on Twitter