💰 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.

Sales were absolutely on fire yesterday, folks! We're talking just over $7.5m worth of vehicle sales - what recession, am I right?

BaT absolutely knocked it out of the park, delivering one of their best sale days in terms of actual sale numbers in 2024. We're looking at a spectacular 117 sales. Just let that sink in for a moment. They had nearly 100 more sales than the next platform on the list. These are crazy numbers we're seeing here!

And you know what? As I've been harping on about (and I'll touch on this again later), I reckon there's still a huge amount of room for growth. Not just for BaT, mind you, but for others in the market too. The potential here is simply staggering.

It's days like these that really make you sit up and take notice of just how robust and dynamic this online auction space is becoming. We're witnessing some serious momentum here, and I, for one, can't wait to see where it leads.

Folks, it was a Porsche-palooza in the top 5 sales yesterday! I mean, come on, you've got to agree that Porsche is just something else. Each one of these beauties sold above their MSRP, and some of them? We're talking significantly over.

It never ceases to amaze me what people are willing to shell out for a Porsche. I've said it before and I'll say it again - these machines hold their value better than just about any other car out there. It's like they're made of some sort of automotive vibranium or something!

You look at these numbers and you can't help but marvel at the Porsche magic. They've got this knack for creating cars that aren't just transportation - they're investments, they're dreams on wheels. And clearly, the market agrees.

Want to dive deeper into any of these listings? Just click on the car to take you directly to the listing.

If you have been reading The Daily Vroom for a while you know that all things air cooled rev my engine. Within that rarified air there is a special place for RUF cars, in particular the RUF VIN cars that are just so special, as well as the converted and tribute cars. However, what we have closing today is a truly special beast.

You see, back in 1982 RUF was just starting to manufacture the BTR from Porsches delivered in body in white form. This early car has all the key markings and components of the later BTR builds, the conversion to 3.4 liters, RUF 5 speed gearbox (not offered by Porsche until 1989), the boost adjustment knob, RUF gauges, a handcrafted front valance, Recaro lightweight seats, it even had early cup mirrors. The RUF Speedline wheels were likely not designed yet, although I think they are, by far the best looking wheels ever fitted on a G body Porsche. This particular example has painted white fuchs that are oh so period correct.

Even though this car does not have a RUF VIN (I believe that RUF became an official manufacturer in 1984 with the first RUF VINs appearing in 1985), this particular car is a fully documented RUF Pfuffenhausen build with original photos and paperwork to show it. This car was owned and cared for in Japan, with magazines and extensive receipts from its time there.

Imported by Symbolic in 2023, this car was sold last year at, what I believe to be a low price for what this car is. The buyer was a friend of ours and I saw photos of the car as it was lovingly sorted and prepared for use by a meticulous owner. Just a few weeks ago, a perfect example of the car that the buyer always wanted popped up and a choice had to be made. Personally, I would have kept this one.

The car is now being presented by the same selling dealer (who is one of my favorite users on the site) with a better and more complete presentation showing just how special this build really is. This car is a no excuses car with a full and rich history and is ready to drive home tomorrow. With just a few hours left on this, I just wish I could justify bidding on this myself at the moment. If one of The Daily Vroom readers wins it, please let me know and we can compare notes.

In yesterday's newsletter, I posed the question: why aren't we seeing more million-dollar cars being sold on online auction platforms? This query prompted a range of responses and differing views from you.

The majority of you felt that the lack of million-dollar car listings on these online platforms stemmed from a lack of confidence in their ability to handle the sale of such ultra-expensive vehicles. The example of the SBX platform, which lists expensive cars but has yet to see a significant auction sale, was cited as evidence of this challenge.

However, upon further reflection, the issue with SBX appears to be less about the expensiveness of the cars and more about the broader challenges of operating an online auction platform for this rarefied market, which we’ve touched on previously.

Here’s a selection of your comments and then I’ll give you my 2cents.

Quick ask: Reader above said he saw a BaT tv ad. If someone can please send it to me.

Another potential reason why we're not seeing more million-dollar cars listed on online platforms is the seasonal nature of the classic car auction calendar. It's a good observation by a number of people that the prestigious Pebble Beach, Monterey, and other high-profile in-person auctions that take place during the late summer months may be drawing away some of the million-dollar listings from the online space.

To further investigate this, I checked the data from last August and found that there were two $1 million+ sales during that time period. I plan to compare that to the data from this month once it's fully complete to see if the traditional auction season is indeed impacting the online million-dollar car listings.

However, I believe that online platforms can indeed sell these high-end vehicles effectively, given the right strategies and execution. The key barriers that need to be addressed are:

Financial Incentives and Fees One key factor to consider is the limited fee structure of many online auction platforms. With a typical commission of around 5% and a maximum cap on the fees, the financial incentive for these platforms to dedicate significant resources to the million-dollar car market may be limited. The potential "bragging rights" of hosting a record-breaking sale are often not enough to offset the investment required to cater to this exclusive clientele.

Lack of Exposure to the Target Audience Another potential barrier is the lack of exposure that online platforms have to the high-net-worth individuals who are the primary buyers of million-dollar cars. As I pointed out, there are many affluent collectors who may be unaware of the growing online auction ecosystem and its potential to facilitate the sale of their prized possessions. The traditional marketing channels, such as luxury magazines featuring the likes of RM Sotheby's, have not yet been fully exploited by the newer online players.

Recommendations for Online Platforms 

To address these challenges and unlock the potential of the million-dollar car market in the digital sphere, online auction platforms could consider the following strategies:

1. Specialized Teams and Tailored Fees: Develop a dedicated team of experts to focus on the million-dollar car segment and adjust the fee structure accordingly. By offering a slightly higher commission rate for these ultra-expensive vehicles, platforms can incentivize sellers while still maintaining a significant cost advantage over traditional auction houses.

2. Targeted Marketing and Outreach: Invest in a more robust marketing campaign to raise awareness among the high-net-worth individuals who are the primary buyers of million-dollar cars. This could involve placing ads in luxury publications, collaborating with influential collectors, and leveraging social media platforms to reach this exclusive audience.

3. Enhanced Buyer Confidence: Implement additional safeguards and transparency measures to instill confidence in the online auction process for these high-value transactions. This could include comprehensive vehicle inspections, detailed provenance information, and secure payment and escrow services.

By addressing these key barriers, online auction platforms can position themselves as viable and trusted alternatives to the traditional in-person auction model, ultimately unlocking the potential of the million-dollar car market in the digital sphere.

Now, of course, this all depends on IF the platforms even want to go down that route, which is a question for them to consider. The million-dollar car segment may not align with the priorities or target audience of some online auction platforms. They'll need to weigh the potential rewards against the required investment and resources to cater to this exclusive clientele. Ultimately, it will be up to the platforms themselves to determine if pursuing the high-end million-dollar car market is a strategic fit for their business.