No half measures
Since our inception, PaddlUp has carved out a well-defined niche in the ultra-competitive world of premium car sales. Having established a foothold as a brand with a difference – a safe and secure people-centric experience for those looking to buy and sell supercars worth in excess of £100k – PaddlUp is continuing to evolve in the face of adversity, adapting to the financial challenges the UK, and indeed the world is currently facing.
With additional strings being added to PaddlUp's already multi-faceted bow, our service is becoming more comprehensive than ever before, whilst the premium feel, meticulously sourced vehicles and air of exclusivity endure.
After our first year of official operation, the PaddlUp team has taken stock of what's important to the guests that frequent The PaddlUp Rooms by identifying their needs and honing what we offer accordingly.
From the in-depth market research we conducted, we understood a buyer will always factor in the buyer's fee at auction to get to the 'transaction price', therefore a higher reserve is not prohibitive in conjunction with our new market-leading buyer's fee.
A refined sales model is important to the future of PaddlUp. Now, as a SOR (sale or return) house, cars are live – at the seller's discretion – for seven days under a 'coming soon' banner, it will then be offered at a fixed, 'buy it now' price for a further 21 days, before it heads to the all-important, seven-day auction. A tried and tested pre-marketing stage remains a precursor to this multi-phase approach.
We're advocates of the mantra of 'a problem shared is a problem halved' and, as a result, this has been implemented at PaddlUp's core, in a strategy largely unseen in the automotive buying and selling market.
The strategy itself is an uncomplicated, but effective one. Simply put, the buyer and the seller will now share the burden of the fees that come as part and parcel of using a service such as ours.
Buyers will be charged at a rate of 3 per cent, that sentiment will be mirrored for the seller. This slant ensures a fair 50/50 split and a guarantee that both parties are still receiving the same great service, all in place of favouring one side or the other as is often the case with automotive sales.
PaddlUp will also operate on a no sale, no fee basis. If, for whatever reason you need your car returned to you, all you will have to pay for is return delivery (outside of our delivery range) or you're encouraged to visit The PaddlUp Rooms for a more personal handover.
This innovative fee system highlights an inherent versatility, as we adapt to an ever-changing market with ease.