AutoTrader Auction Platform Latest Update

PLUS: SBX Cars Seeks Traction for Its Ultra-Rare Offerings

The Daily Vroom

Good morning, Vroomers!

With Autotrader launching their auction platform earlier this year, I was eager to check out their progress from day one. Take a look below to see the latest updates.

Have a great weekend, and I’ll catch up with you on Monday.


Sam

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+ cars in the chart below.

Normal service was resumed yesterday with a respectable $6.6m worth of vehicles sales. The total average sale price at $41k.

Above we have the price range of vehicles sold for the whole market. Below is for BaT. The difference is slight. BaT has sold slightly more $100k+ cars than the market in general, with 10.6% of total sales.

Whilst one might assume that BaT just sells expensive cars, you can see that 61% of their sales are $40k or less yesterday, which fits in to what they’ve been selling recently.

YESTERDAY’S TOP 5 SALES

SOMO had a good day yesterday, featuring two of our top 5 sales. Top sale was the AMG black series for $700,000, which is a great price for the buyer. as crazy as that sounds!

To view each listing, please click on the cars.

2014 Mercedes-Benz SLS AMG Black Series $700,000

2023 Porsche 911 Carrera GTS Cabriolet America $230,000

2021 Ferrari Roma $206,450

2019 | Aston Martin DBS Superleggera $184,000

1963 Chevrolet Corvette 327/ L75 Split-Window Coupe $164,000

SBX Cars Seeks Traction for Its Ultra-Rare Offerings

In the rarified air of million-dollar exotic cars, simply having an online audience isn't enough to convert cash-flush enthusiasts into committed buyers. Despite the massive following of Social Media star Supercar Blondie, her nascent SBX Cars auction platform continues to struggle finding traction.

This week saw another round of no-sales for the ultra-exclusive offerings. The 1983 Land Rover Defender 110 6x6 Double Cab topped out at $275,000, while a 2020 Lamborghini Aventador SVJ Roadster stalled at $871,000 - both failing to meet reserve despite immense initial interest.

While Blondie's fame can generate millions of video views and scrolling eyeballs, these results expose the limitations of purely leveraging online virality when dealing with one-of-a-kind, multi-million dollar cars. At this level, high-touch relationship building and physical presence is key.

To SBX's credit, the team seems to be course-correcting towards a more high-brow, old-school approach befitting their lofty inventory. This week they shipped the $3 million+ Aspark Owl electric hypercar to Monaco, putting it on display to rub shoulders with the ultra-wealthy enthusiast set.

This localized activation is a smart pivot. While the sheer variety of cars they can source globally is an asset, it also creates a double-edged sword by spreading marketing efforts too thin without feet on the ground. Leveraging pop-culture celebrity can grab attention, but closing seven-figure deals requires cozying up to prospective buyers where they live and breathe cars.

SBX would be wise to take a page from auction houses like Collecting Cars and Bring a Trailer, which have invested heavily in regional representatives and partnerships. Personal relationships, concierge service, exclusivity - these are the hallmarks of high-end auto sales that their buzzworthy but struggling online auctions have lacked thus far.

With a stable of drool-worthy cars from Koenigsegg to Lambos, the ingredients for success are there. But converting that potential into closed auctions necessitates a deft blend of new media amplification and old-world handshake networking.

Supercar spectacles like with feet on the ground in Monaco offer tantalizing glimpses of SBX evolving towards this gold standard. Now it's a matter of cementing those in-person connections to finally start moving metal at prices befitting their crown jewel inventory.

AutoTrader Catchup

It's been a couple more months since I last vented about the dumpster fire that is AutoTrader's auction platform, and sadly, the situation has only gotten more pathetic. You'd think by now they would have realized that half-baked auctions are not the game for them - but nope, they're doubling down on this embarrassment with literally zero traction.

The user experience remains an absolute abomination, like it was designed by a gaggle of clueless interns. The car listings are tragically stale, struggling to get even a nibble of interest. And sales? Yeah, good luck finding a single completed transaction on this digital ghost town.

It's painfully clear there's zero commitment from AutoTrader to actually improve this franchise-tarnishing platform. Whoever signed off on this disaster needs to start polishing their resume, because they've committed a feat of corporate malpractice here.

AutoTrader jumped into auctions on a whim, clearly thinking "Auctions are hot, let's lazily copy that model!" But their half-baked, zero-effort approach has been an incredible misfire. I see absolutely no future for them in the auction game if this apathetic attitude continues. It's time for them to swallow their pride & cut their losses.

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