To give online car shoppers a feel for the brick-and-mortar buying experience, eBay is teaming up with AutoNation to sell new vehicles using a modern take on a "tent sale" method.
Starting today at 9 a.m. PT, AutoNation will post a handful of new vehicles each day on eBay that initially bear the MSRP. However, each hour the price of the car will drop until someone clicks the "Buy It Now" button. The drop each hour will be "significant," said eBay in a statement," and there's no bottom floor or reserve price.
A range of brands will be featured during the event, including Chevy, Dodge, Ford, Jeep, Nissan, and Toyota. Although tent sales tend to move used vehicles with shady histories and even more questionable value, the buyers can expect some of the most popular new models on the market at the event. And they're all under factory warranty.
While there's no schedule, consumers can expect to find a Dodge Charger, Ford Mustang, Ford F-150, Nissan Altima, and the hard-to-find Toyota Prius C on the virtual auction block. Each day a handful of new cars will be added to the reverse auction until the tent sale ends on July 2. Auto Nation expects to sell more than 50 new cars over the course of the four-day event.
The nationwide auto dealership network kicked off its eBay relationship in March by selling vehicles online at half price. AutoNation uses these promotions to get customers used to the idea of shopping for new cars on the Internet.