Description

Development of an auction, which enables our client to:

• Sell out the current stock of 500 cars
• Sell up to 5,000 cars per year at the highest market price

Client

One of the key players in leasing industry in Eastern Europe

Tasks

• Develop an auction to boost sales of a huge warehouse of the company. Our client faced a problem that vehicles were losing value every day in anticipation of getting sold by managers through commercials and billboards.
• Build from scratch a unified system for evaluating vehicles money value to ensure fair price and minimize potential losses from selling at an under or over price.
• Engage buyers with auction mechanics to ensure competition and higher market price

Project features

• MVP stage within 6 months
• Automatic vehicle evaluation in 1 second
• Publication of a new lot in admin panel takes 2 minutes
• Real-time auction
• High-load project with microservices architecture

Before

• Huge warehouse with vehicles gathering dust and waiting to be sold
• Slow sales process through commercial calls and car shows
• Each car sale takes 20 hours of manager’s time
• Lack of common standard, each vehicle was sold differently
• Subjective price set by managers without a common algorithm

After

Car leasing process happens through an Auction – a unified system for selling all the vehicles.

Now managers use a convenient platform where it’s much quicker to publish vehicles for sale through uniformed flow. Through Automated Evaluation feature, buyers know the market price of the vehicle and can set appropriate initial and blitz bidding prices. The system allows to control the course of the auction and easily contact the winners.

Now buyers have a new convenient channel for vehicle purchase: with easy phone number registration, fast real-time bidding, and transparent pricing.

Stages of work

Analytics

We conducted a thorough analysis of the customer’s goals and objectives.

Competitor’s analysis, including testing of all direct and indirect components, ran decomposition of all tools and features of competitors.

To identify key needs of potential auction users, we created CJMs and action charts. We listed features, developed and tested UX prototypes.

It was essential to develop a scalable design system.

To ensure transparency and to align expectations, we made layouts for all possible screens and states of the system. Thus, even before the development stage began, both we and the customer knew how the system would work.

Development and testing

Microservice architecture for easy system scalability.

High load: the system is designed for the simultaneous use of 1000 users.

For managing lots and an auction, we developed an administrator module:

• Complex status system
• Auction management: the ability to configure all parameters
• Control over all lots and all bids in real time
• Quick notifications about important events

We integrated an automatic evaluation system:

• It takes 1 request and 1 second to evaluate the market price of a vehicle
• Single evaluation logic for all vehicles in the system
• Decoding the VIN number to fill in the vehicle data and getting an estimate
• Continuously updated catalog: it becomes impossible to make a mistake in the vehicle characteristics

For all buyers auction is enhanced with:

• Integration of registration service through SMS
• Customizable showcase of lots with filters for a wide variety of fields

• Participation in real-time bidding
• Transparency while maintaining security: you can see the bids of other users, but their names are encrypted
• SSR for indexing.

Mobile version

5,000 vehicles in your pocket