Droom launches Orange Book Value destination website

Droom, India’s online automobile transactional marketplace, announced the launch of Orange Book Value (OBV) destination website along with its Android and iOS apps, multiple partnership and 3rd party Web publishers’ widget. Orange Book Value is India’s first and only algorithmic benchmark `pricing engine to measure the fair market value for any used automobile.

OBV is the most comprehensive pricing engine, which is not limited to cars alone, but also covers a wide spectrum of vehicle categories including motorcycles, scooters, bicycles and planes - covering 24000+ products from 100+ makes, nearly 1000 models and 4000 variants for last 10-11 years.

With OBV, users can calculate the true market value of a used vehicle in less than 10 seconds, that too for free. They can also download/share pricing report in no time. OBV is designed keeping user convenience as a top priority. The US patent-certified OBV pricing engine is built on Droom’s proprietary computational infrastructure and real-time data science which analyses empirical evidences to give the final price value of any used vehicle. It considers various factors like purpose (buying/selling), depreciation curves, margins and spreads with intermediaries as any vehicle changes ownerships, and dozens of factors that impact the valuation of an automobile.

Speaking on the new innovation, Sandeep Aggarwal, Founder and CEO, Droom, “Today is a historical day for the entire auto industry in India as we are launching Orange Book Value (OBV), India’s first and only algorithmic pricing engine to measure the true market value for any used automobile. For the last two years, we have deployed dozens of development engineers who have diligently worked and made this launch a great success. We have already managed to generate almost 72 million queries in the last seven months. Having spent millions of dollars on this innovation, the app is so convenient that a user can check the price of any used vehicle within ten seconds and can avail the pricing report free of cost.”

He added, “We are delighted to share that Orange Book Value is the valuation/pricing partner with Carnation and Renew Buy for auto insurance. This partnership will allow our partners to use Orange Book Value as benchmark pricing for used vehicles and leverage our computational infrastructure and US patented technologies to find out fair market value of used vehicles. We have developed OBV with a long-term vision of making it the most trusted valuation guide for automobiles, be it a cycle, bike, car or even an aeroplane. Droom is a technology and data science driven company and with us innovate and disruptive marketplace approach, we build trust, pricing, transparency and convenience advantages in a unique way for buyers and sellers for used automobiles. The launch of this website is a step towards this commitment to our users.”

The OBV website will showcase the following features:

- New touch and Feel: Website is loaded with new-age design, interactive features, real-time price changes while refining conditions, ability to change trim of the vehicle.

- Revamped OBV Pricing Report: Along with the OBV Price of the MMYT, the new version of the OBV Pricing report also provides you the overview of the prices of similar vehicles listed and sold in the last 60 days, 90 days and lifetime.

- Buy/Sell on Droom: With a single touch on the result page, you can navigate to the Droom website where you can buy/sell the product for which you just checked OBV.

- Rate the experience: Users can rate their experience on the website and also share their feedback.