UAE - Car enthusiasts, buyers, and sellers struck a bargain at what is billed as the largest live car auction in the UAE. According to organisers, some participants drove away in cars worth Dh40,000 by buying them at Dh20,000.
Buyers seized the chance to get their hands on deals on second-hand cars that would have otherwise cost them almost double at a dealership.
More than 2,000 people gathered in Sharjah Industrial Area 2 on Sunday evening, to attend the auction by Marhaba Auctions.
With a selection of 360 pre-owned cars available for live bidding, the event aimed to cater to a diverse range of preferences and budgets.
Car enthusiasts and potential buyers were treated to a variety of options.
All cars set for auction were available for inspection in advance and were guaranteed to be on “green light,” which meant any single bid of Dhs500 or more could win the car.
Speaking to Khaleej Times Zubair Rashidi, Executive Director of the Marhaba Auctions says, “People could bid on cars very cheap 30 to 40 per cent 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.”
He adds, “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.”
For those unable to attend in person, the auction was broadcast via live stream.
“We pull out a few cars that we break down into different categories. Many cars go into the high end, which is the Land Rover Defenders, we have the Range Rover volts, the Range Rover sport cars, we have the Mercedes S Class, the BMW X5 and the BMW X7. So those are the luxury cars that we put in the options.”
He adds, “We don't do the Ferraris, Rolls Royces and the Lamborghinis because that isn't really our market here for this area. Our branch in Sharjah auto village is a little more high-end than this one.”
Marhaba Auctions is a car auction house, conducting six auctions a week, from two operating branches in Souq Al Haraj – Sharjah Auto Village, and Sharjah Industrial Area 2.
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