Trademe Cars to Buy

Imagine joining eBay, Seek, Carsales, and REA Group together and you can picture the huge dominance that classifieds-cum-marketplace website Trade Me has achieved in New Zealand.

Trade Me Cars was founded in 1999 by Kiwi entrepreneur Sam Morgan as an eBay-style online marketplace. After establishing a leading position in general goods auctions, Trade Me quickly added car sales, property listings, and finally employment classifieds.
This rapid progress allowed Trade Me to capture dominant market share in general merchandise, car sales and property, while also establishing for itself a solid second-place position in employment classifieds (behind Australia's Seek).

The fattest margins in all the land

Trade Me's dominance makes it one of the most profitable companies in Australasia. In its most recent annual results, Trade Me reported operating profit margins of a jaw-dropping 65 per cent and net profit margins of an astounding 44 per cent. The company's balance sheet is in great shape too, with debt to equity at a low 25 per cent. On top of its immense profitability, Trade Me has had a long history of growing sales, compounding annual sales over the past 5 years at a strong 13 per cent. This revenue growth has been fuelled in large part by the long-term tailwind of increased online shopping, and advertising shifting from print to digital.

The company has also boosted revenues by flexing its muscles on pricing. Trade Me has used its strong market position to raise the fees that it charges to sellers in its various marketplaces.

The real estate revolt

But Trade Me could be losing some of that pricing power muscle. In November 2013 Trade Me pushed through significant pricing changes for its property listing business. Real estate agents would be migrated from a flat bulk-pricing model, to a per-listing fee. Trade Me hoped to capture more revenue from high-volume agencies by charging for each individual listing. The move was intended to set the stage for Trade Me to gradually raise those per-listing fees over time, as it has done elsewhere.

But many real estate agents revolted against the move, switching thousands of their listings to an industry-owned rival. Trade Me finally buckled in July of this year, allowing some agents to remain on a bulk-pricing model.

Trade Me will be able to recover from the short term damage caused by lower property traffic. But the failure raises questions over how much pricing power Trade Me really has, and whether the company could face a similar backlash in other business units such as car sales.

Amazon: King of the jungle

Trade Me may be the 800-pound gorilla in New Zealand, but on a global scale it is just a minnow.

There are rumors that Amazon could soon enter Australia directly. Amazon already operates an Australian website, but has not built out its warehousing infrastructure here yet. Once it does, online delivery times will fall substantially, removing a key barrier that has protected Australian retailers thus far.

The same threat applies to Trade Me. Once Amazon sets up camp in Australia, the shipping time for goods to cross the Tasman will plummet, and the range of relevant products will expand. After securing Australia, Amazon may even decide to jump the final hurdle and put boots on the ground in New Zealand.

Trade Me could pre-empt this threat by imitating Amazon's model and investing in warehousing and fulfilment centres of its own. But to do so would mean slashing those fat profit margins that the company has come to love.

It is a classic innovator's dilemma. Trade Me must face lower short-term profitability if it wants to protect its business in the long run. If there is one global hyper-competitor that has proven time and again that it is willing to make that trade-off, it is Amazon.

Trade Me Cars Auckland

An Auckland car dealership has been rapped over the knuckles and ordered to pay compensation for trimming a year off the age of a car it sold through Trade Me.

Glenfield Wholesale Limited, trading as Real Wholesale Cars, sold Bo Zhang a Toyota Alphard for $14,450 in May this year.

The vehicle was advertised on Trade Me Cars as being a 2005 model but when Zhang received the certificate of registration a week after purchase, he found his car was a 2004 model.

He contacted Real Wholesale Cars, who denied the vehicle was a 2005 model and continued to do so for a month.

Zhang went to the Motor Vehicles Disputes Tribunal claiming a remedy under the Fair Trading Act.

A hearing was held in Auckland on September 2 and the tribunal has now released its decision, in which it said Zhang was "most certainly misled into believing he was being sold a 2005 model vehicle".

Real Wholesale Cars' conduct was "indefensible" and "deliberately misleading",the tribunal said in its decision.

The trader's TradeMe advertising, Vehicle Offer and Sale Agreement, and Consumer Information Notice all described the vehicle as a 2005 model.

When asked, the trader produced to the tribunal the Japanese Export Certificate and Import Certificate which showed the vehicle arrived on April 3, 2013 and was described in both documents as a 2004 model.

"The trader could very easily have established the correct year of the vehicle as soon as the purchaser first raised the issue by referring to those documents but for reasons which were not explained to the tribunal, the trader continued to deny the vehicle was a 2004 model and insisted it was a 2005 model," the tribunal said.

"Its conduct in that regard is indefensible and was deliberately misleading. The trader's conduct was certainly the effective cause of the purchaser's loss or damage."

Real Wholesale Cars admitted its mistake and offered Zhang $500 as compensation, which Zhang said was unacceptable.

The tribunal instead ordered Real Wholesale Cars to pay $1,050 as compensation for misleading Zhang.

Zhang also claimed the vehicle was not of acceptable quality at the time of sale, with problems relating to the right hand rear wheel, windscreen wiper blades, drive belt transmission fluid, and air conditioning.

Trademe Cars SUV

The Auckland property market is a vast, full puffer sea food. You gaze in it and you think to your self: one particular prick might break open the entire thing. Individuals who love to contact them selves 'corporate' say Auckland's a major international city currently and it is getting repriced. Some of them are exactly the same prodigies who mentioned we were in the new truth within the several weeks before the 1987 stockmarket lock up, plus the actual months prior to the technical crash as well as in the particular several weeks before all one other lock-ups. Evidently 1 prick may be almost all it usually takes.

The particular puffer fish, anyone who may have watched Your Simpsons is aware, could be the sea food people want a bit of. Find it drastically wrong and you're simply deceased.

That of a shambles. Never mind what every one's said this week. In whose wrong doing is actually it, actually? I've the following a summary of them.

Crazy Butcher. The person cell phone calls every person mate. Big error. The very last thing you wish to do can be making new men and women welcome. Turning up inside Auckland must sense since cold being a meats fridge. The visitor knowledge needs to be producing new arrivals say "maybe we need to visit again Matamata."

Terrorists. My personal nasty, sprained and unaggressive ambitious buddies upon Facebook discovered a menacing concept immediately. Look yourself; it is right there within the last 4 characters with the words 'Auckland homes crisis'. Clearly we have to give the federal government hugely bigger forces. Help yourself, GCSB: really feel free to fix the housing situation through looking inside our Snapchat, our Whatsapp, the kitty flap.

Judy Bailey. Keeping the mom of the us again for the telly offers every person the feel-good factor. It furthermore adds $69,Thousand every week to house rates, based on about three distinct realtors. Considering that Wednesday, when dear outdated Jude began reading through what is the news yet again, costs possess escalated through "even tons more than that" in accordance with a few other very different brokers communicating strictly from the file.

Fullers Ferries. In the event that folks didn't have to grow old sitting down and ready so very long for one more wind-surfing to Devonport or perhaps Birkenhead, a lot more individuals may wish to live generally there. That could acquire massive force off the multi-million buck property owners of Ponsonby and gray Louise. They think very not comfortable an plethora of greenbacks. They expire a little daily to see their homes generate a lot more than they actually do. Cease torturing these, Fullers! Take action, before it most climbs up their nostrils.

The actual North Busway. What happens when folks learn that public transport actually works? They heap onto the busway and also hurtle into the city for their soulless office space along with $5 coffees and also Instagram and also TradeMe Cars upon perform moment. Ten mins, clothes! Their own existence still hurts, yet abruptly his or her a dripping Albany condo can be hot, warm, hot.

Diligent Kiwis Simply Trying to find Ahead of time. In case you wanted to get a lengthy bend you could blame consecutive authorities for not presenting an appropriate duty on cash, or maybe even the government for keeping all of us in the dark concerning info. If you dreamed of being completely ridiculous, you could fault everyone whom loaded in along with lent immeasurable dollars to get in while they nevertheless can, however truthfully, that would be just absurd.

Push as you borrowed it

When I was obviously a youngster, a particular kind of child liked for you to pimp his ride a bike with monkey wardrobe hangers as well as a strawberry chair. Whenever that child obtained elderly, he got themselves any V8 with mags and spoilers.

For any specific sort of climate denier, plus a specific type of dairy products player, your car or truck affirms a little more about anyone than your wedding day vows maybe tax return or perhaps the alcohol an individual consume.

They'd dislike what are you doing to autos within Paris. Is really a image. It is deemed an car lib car. Note the particular dings and dents, your airborne dirt and dust, the actual muck. Note their state a vehicle gets to if it is one particular you just borrow, for nearly practically nothing, while automobiles imply very little.

What exactly is autolib ? A new car-sharing support inside Paris, france. You only unhitch a single from your electric powered wall charger and drive it aside, just like it's actually a one-horse community and it's really your use experience the particular horse.

On the other hand, the particular bikes you can also borrow for nearly nothing at all tend to be glistening and also rather.

Trademe Cars Toyota

The red 1993 Toyota Hilux, with a staggering 1.2 million kilometres on the clock, will be sold by Turners. The national vehicle auction house believes it is the highest-km vehicle it has auctioned.

The "red rocket" was bought new 22 years ago by Palmerston North's Glenn Holmes for $30,000.

The 70-year-old has driven 1,211,493km using it as a newspaper delivery vehicle.

"It has been a great workhorse and I will be sad to see it go," he said. "If I ever see it for sale again in the future I might be tempted to buy it back because I have always had a soft spot for it."

Turners bought the Hilux from Holmes two weeks ago for an undisclosed sum after it failed to sell at auction because it was thought to have a cylinder problem.

Cylinder issues have been discounted and it will be re-auctioned tomorrow on the Turners and TradeMe Cars websites. A reserve of $1 has been set.

"The interest on social media has been phenomenal," Micah Bremner, from Turners in Palmerston North, said.

"It still has plenty of life in it if someone wants it as a working vehicle, otherwise it could be restored and put on display."

Bremner said the far-travelled motor, which was assembled in Christchurch, could fetch $1000-$3000.

The original engine has never had the head off and the gearbox and differential have never come out. However, the radiator was replaced about 200,000km ago.

"It is pretty extraordinary a vehicle of this age has had just one owner. I have never seen anything near it, in terms of the amount of kilometres it has done," Bremner added.

The average odometer reading on cars sold by Turners in the past two years was 134,000km, with 13 per cent of cars being sold with less than 60,000km on the clock and almost half with less than 120,000km.

Holmes reckoned the secret of the "unkillable" Hilux's longevity was changing the oil every 5000km and always using the same brand.

"Thirty thousand dollars was a lot of money to pay back in 1993 but it was worth every cent and more. I hope it will be appreciated by the new owner."

A Hilux of this vintage was built to clock up 1 million km or more as long as it was serviced regularly, a spokeswoman for Toyota New Zealand said.

Trademe Cars for Sale

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