There will come a time where we will upgrade or sell our beloved motorcycle for a certain reason; and when the time comes, we will either sell online on classified pages, inviting scammers to spam our WhatsApp with attempts to make you believe there is a genuine buyer or we sell our motorcycle via dealers at rock bottom price. That’s for the seller.
For some of us who is buying a used motorcycle, we have to go through tons of hassle and worst put ourselves at risk of buying a crashed bike where their advertisement posted all the nicest words you’ve ever seen like accident-free, showroom condition and etc.
What if I tell you, as a seller; now you can sell your motorcycle thorough a bidding platform where everything will be taken cared off?
What if I tell you, as a buyer; you can bid for your favourite motorcycle and the motorcycle has gone through a thorough check and all the specifications and conditions has passed the inspection. Also not to mention they provide assistance on the vehicle ownership transfer and also provided help in financing?
In a layman term, every process is easy and transparent for both buyer and seller. Yes, the keyword is transparent.
Sounds too good to be true? Well, it does because at muv (Marketplace for Used Vehicles), that is exactly what you are going to get; peace of mind.
In July 2013, muv a subsidiary company wholly owned by Warisan TC Holdings Berhad, a company that is listed on the Main Board of Bursa Malaysia; started as a very conventional used vehicle auction house before they evolved to mobile application in September 2014. At that point in time, they served on used car dealers. Since then, they keep evolving and they had their live auctions twice a week!
On January 2020, muv launch muvbid (http://www.muv-x.com) and became the gamechanger in Malaysia’s automotive industry. It is the first and largest 24/7 self-listing vehicle bidding platform providing end-to-end services including financing for end-user. Now instead of bidding physically, the buyer can bid at the comfort of their home via online bidding.
I spoke to Mr Andy Teh, a biker himself was recently appointed as the new Chief Executive Officer of muv; and Mr Andy opens up a new channel for motorcycle in muv. “We actually do an inspection for vehicle and for the cars, we pride ourself in a 180 points inspection process for live auction vehicle. For muvbid area, we actually have a verification inspection so cars and bikes, potential sellers can bring their vehicle to our hubs to be verified. What this means is we are trying to provide transparency and also more information to potential buyers because in this market we believe transparency sells. There’s nothing wrong with having a used vehicle, a damaged used vehicle, or vehicle that required certain things to be changed but we want to make it very clear to potential buyers.”
So what we do is we will check things like damage wear and tear part for example if the tire requires changing soon, or has the bike been in an accident before or has it fallen before any damages, any parts that have been changed. We will list down all these on the website for the buyer to see. We encourage our seller to be as transparent as possible. – Andy Teh, CEO muvbid
“For bikes, we check based on the information that seller has provided; and also do a basic inspection for the bike itself. So what we do is we will check things like damage wear and tear part for example if the tire requires changing soon, or has the bike been in an accident before or has it fallen before any damages, any parts that have been changed. We will list down all these on the website for the buyer to see. We encourage our seller to be as transparent as possible. At the end of the day is about verifying this and make it clear to the potential buyer so that when they want to buy the vehicle, they know what the vehicle they are buying or what the motorcycle they are buying,” Andy said.
As mentioned above, buyers can have peace of mind as sellers are required to get their motorcycle inspected and verified by muv professionals at hubs located nationwide. If the seller is too busy and not able to send their vehicle for inspection, muv mobile inspectors can head to the seller with a small fee of RM50. However, this services is only available in Klang Valley, Penang and Johor at this point in time.
“As a rider myself, it is actually quite difficult to sell used bikes. I sold a few bikes by myself before and the problem with selling a bike in Malaysia is you list it on a traditional classified website you have to wait and sometimes you ended up waiting months. My previous bike I took 6 months to sell it. It is because I couldn’t find a buyer that has financing but at the end of the day, I found a buyer that can buy it in cash. But if there is somewhere I can help connect my buyer with financing, that would be helpful. So what we are trying to do is solve a problem and we are trying to create this ecosystem where with all our facilities for example like financing and inspections and vehicle ownership transfer process, we have the logistical people and the means to facilities the entire process for the buyer,” Andy said.
To register as a buyer or seller, visit www.muv-x.com.
Quick facts about muv:
- One of the highest gross merchandise value in transactions among used car auction platforms (RM1 Billion worth of vehicles sold – as of March 2020)
- The fastest growing success rate among used car listing platforms in Malaysia (From a 62% success rate in 2017 to 93% in 2019)
- A large network of registered used car dealers of over 5,000 dealers with nationwide coverage with hubs and inspection centres in major states – Selangor, Penang, Johor, Perak and Melaka
- A subsidiary company wholly owned by Warisan TC Holdings Berhad, a company listed on the Main Board of Bursa Malaysia
- Strategic investments backed by Tan Chong Motor Holdings Bhd (TC Capital Resources and Tan Chong Insurance Business Stream) and others
- Combined yard space of 10 acres within Malaysia (over 1,800 car and other vehicles capacity) Page 2 of 4
- The inclusion of value-added services to offer consumers with end-to-end solutions such as free valuations and inspections, muvinsure (Insurance) and muvhp (Hire Purchase) – which provides insurance and financing services for consumers
- muvAuction – allows businesses to participate in online live auctions held twice a week (Wednesdays and Friday)
- Fast and free car inspections and valuations at muv Hubs
- muv Verified – Nationwide verification service available for vehicles listed on website as assurance for buyers
- 180-point car inspections are thoroughly conducted on cars that are listed on muv for sale