“The Pakistani automotive market has had a multitude of ways to buy and sell vehicles, in the recent past we saw the market evolve from the traditional physical dealer network of buyers and sellers to the digital transformation which brought in players such as Car First & VAVA Cars into the market. Although the digital startups could not sustain given the economic slowdowns, this market carries a huge potential and we as a group feel strongly that it needs to be digitalized. Our solution is to build a platform which does not take on a risk of purchasing or keeping inventory of the said vehicles but rather to be a means to connect the sellers to the buyers while holding weekly auctions where the minimum price is determined for a start & the winning bid is given to the seller for consideration, upon approval of which, the seller will have the option to sell or hold their vehicle. For each transaction made, our company, named “Auction Now” will keep a minimal service fee to sustain and grow our operations. In order to ensure that empty bids are not made, the buyers & sellers will be required to deposit a set amount with us, in case a winning bid is made and the buyer or seller decides to back off from the deal, their deposit will be withheld in order to ensure authenticity on the platform.

In summary, Auction Now will provide a platform for buyers and sellers of vehicles where weekly auctions will be held, inventory will be uploaded on the platform before hand for buyers to go through them and see which deal fits best for them. Authentic buyers & sellers will be kept on the platform to hedge the risk of dummy bids & products.
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