Why This '72 Ferrari Dino 246 GT Didn't Sell

PLUS: Your Shocking Feedback On Hagerty...

The Daily Vroom

Hey Vroomers!

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MARKET LEADERBOARD

💰 The figures shared below don’t count any other sales such as car seats, memorabilia etc… All online auction sites are analyzed to put this leaderboard together.

I only include websites that have sold 5+ vehicles in the chart below.

Let me tell you, yesterday was anything but your typical Monday in the online auction world. We saw sales hitting just shy of $7 million across the various platforms - talk about starting the week with a bang! That's way above what we usually see on a Monday in the digital classic car space.

Now, I thought it'd be interesting to break this down for you and take a look at which makes and models were flying off the virtual auction blocks across all the major online platforms.

I've put together a little chart for you (I love a good visual aid, don't you?). This first one shows the top makes that were sold yesterday, along with their average prices. It's pretty fascinating to see which brands are commanding the big bucks and which ones are more accessible, especially when we're looking at the whole online market.

I've got even more juicy data for you. Check this out - I've put together some pie charts that shows the top 5 models for each of the top 5 makes. This is where things get really interesting, if you ask me.

Now, I've got another interesting chart for you. This one shows the top 5 models from all vehicles sold yesterday, along with their average prices. And I've got to say, there are a few surprises in here!

Well, would you look at that? The 911 is sitting at the top of the list. Can't say I'm shocked - the popularity of these Porsches continue to be red hot. But I've got to admit, seeing the E-Class and S-Class right up there near the top? That caught me off guard a bit.

You know, it's funny. When you're just casually browsing auctions, you might not notice these kinds of trends. But when you start digging into the numbers, that's when the real story comes out.

YESTERDAY’S TOP 5 SALES

Want to dive deeper into any of these listings? Just click on the car to take you directly to the listing. Trust me, some of these are worth a closer look.

2006 Ford GT $441,000

1965 Aston Martin DB5 $373,007 (love the bid on this one)

2023 Lamborghini Huracan Tecnica $290,000

2016 Lamborghini Aventador LP750-4 SV $288,500

2019 Ferrari GTC4 Lusso V12 $241,5000

Alumni Listings

One of the things I love about BaT's Alumni Listings is how they let us track price trends for specific models. It's like getting a peek behind the curtain of the classic car market. We can see how a car's value changes over time by comparing its latest sale price to its previous appearances on the site.

Today, I want to highlight a couple of interesting cases from the Alumni Listings.

First up, we've got this 2002 Mercedes-Benz SL500 that Dean Laumbach is selling. Now, what makes this one really fascinating is that Dean himself sold this very car back in 2021 for $37,250. Since then, it's changed hands three times and put on an extra 3000 miles. According to Dean, the car's condition is practically unchanged from 2021. And let me tell you, with Dean being one of the top sellers on the platform, I'm inclined to trust his assessment. Here's where it gets interesting - check out this price history: $31k in 2022, up to $32,750 in 2023, and just yesterday, it went for $29,750. Talk about a rollercoaster!

The other one I’ve got to mention that caught my eye is a 1972 Ferrari Dino 246 GT. This one's a bit of a different story because it didn't actually sell. The highest bid came in at $365,000, which is pretty interesting when you consider it sold for $410,000 just 12 months ago. I've got to say, the color isn't exactly everyone's cup of tea, which I'm sure scared off a few potential buyers. It's a great driver's car, but I wouldn't recommend it if you live somewhere super humid - no AC in this baby! I'm guessing the seller was hoping for something close to $400k. I'm kind of curious if they might try for a post-auction sale. If they do, you know I'll be the first to let you folks know about it!

Hagerty Feedback

In yesterday's edition, we covered the current situation with Hagerty and asked you, "What should Hagerty do next?" The majority of you agreed with our assertion and voted for them to give up the online auctions and concentrate on their live auction platform, Broad Arrow.

Here's a selection of your comments: (some of them eye-opening!!)

I purchased a car from the Hagerty platform. There were no disclosures of four major issues. When I queried the specialist, he said, "Oops. That car was a failed live auction car and the write-up was from the catalog for the live auction where people can see and evaluate the car." I was a big boy, fixed the dangerous mechanical issues, and took a $25,000 loss to just get rid of the car. Makes BaT look like a sure bet.

Having talked to someone who works with Hagerty auctions, he indicated their biggest limitation is not enough car specialists to increase volume, but it's a hard position to hire for.

Hear me out, all they need to do is maximize on the daily newsletter I get from Hagerty with one private sale offering at a “buy it now” price. That would allow for the crazy spread of cars they are consigning and they wouldn’t even need to maintain / update a website. One surefire sale per day.

Hagerty needs to focus on their consumer by managing their expectations up front. I doubt their consignment team is trained to do this correctly, and, to their credit, it’s a challenge in this retracting market.

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