Motoauct, an online auction house specializing in vintage motorcycles, has doubled its consumer membership to “around 700” users three months after first launching last September, Chief Executive and Co-Founder Jason Williams told Powersports Finance.
“We are in a pretty unique space at this point,” Williams said. “… Any enthusiast that likes vintage motorcycles is welcome to register, buy or sell, and socialize on our website,” Williams said.
Users register with a credit card to Motoacut, and those who want to sell click the “sell your bike” option and are provided with instructions for posting photos, a description, and how to establish a realistic price/reserve, according to a company press release. The bike goes live shortly thereafter, and auctions run for seven days. Once a successful bid is established, the buyer and seller are connected to work out payment and transport.
The only stipulation for bikes is that they be 25 years old or older, according to the release. Members will be able to vet bikes as they’re posted. Sellers are charged a $98 fee per bike, and buyers pay a commission fee of 6% based on final bid price.
Williams compared the platform to eBay in terms of usability. Bakersfield, Calif.-based Motoauct also offers socializing through its platform, allowing members to leave comments and “like” pictures of motorcycles, which helps set Motoauct apart from competitors, according to President and Co-Founder Jason Delacroix.
“There’s a section for an individual person to come in and post, but there’s also a section in there for clubs,” Delacroix said. “So any of the vintage motorcycle clubs that are out there, they can come in and post their club right to the website. They can document rides, shows, or what’s going on with the club, and give feedback on bikes that are on the site.”
Currently, Motoauct does not work with lenders, but the company is open to the idea as it begins to roll out the next “phase” of the site. The next phase includes the addition of new features, such as notifications and a section for motorcycle parts.