SMG Swiss Marketplace Group-owned AutoScout24.ch, the leading auto marketplace in Switzerland, has taken full ownership of c-to-b car-auction service AutoScout24 Direct. Financial terms were not disclosed.
This follows a year-long pilot with auction specialist CarAuktion. The business unit is now fully integrated into AutoScout24, while CarAuktion will revert to focusing on its core business — b-to-b auctions.
The service, launched in August 2024, allows private owners to sell their vehicles to verified dealers within 24 hours via a 100% online process. In its first year, AutoScout24 Direct facilitated more than 2,000 sales, according to the company.
“Our collaboration has shown the potential of combining different areas of expertise. The aim now is to use this solid foundation for future growth and continuously optimize the service to meet AutoScout24’s quality standards,” said AutoScout24 director of private customers Ivo Wassenaar.
“Our dealers benefit from the further development of AutoScout24 Direct: a continuously growing and reliable source of vehicles from the private market that is a valuable addition to their daily business,” said CarAuktion CEO Giuseppe D’Angeli.
In order to sell a vehicle, sellers must enter some basic information and then conduct a self-inspection after receiving an initial valuation. Once the self-inspection is complete, the car is put up for auction on the site for 24 hours to a network of registered dealers, and sellers can opt to accept the highest bid, reject it or make a counteroffer.
AutoScout24 charges dealers a service fee on each completed sale. The company argues that the auction format produces more competitive prices for consumers than a fixed-price c-to-b model.
The acquisition of AutoScout24 Direct coincides with SMG’s preparations for an IPO on the SIX Swiss Exchange. This could raise around CHF1 billion ($1.2 billion) and value the company at about CHF4.5 billion, Bloomberg reports.
