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BaT Alumni Listings: The Revealing Results Breakdown 🔍
🚗 PLUS: Two 2023 Ford Bronco's go head to head
The Daily Vroom
Happy Wednesday Vroomers! 🎉
We’re back on track today with our usual mix of insights, trends and industry news. Let’s get right into it…
In today's edition:
📈 Market Leaderboard - Delving into the stats from top auction platforms.
💰 Top 5 Daily Sales - What’s bringing in the big bucks 💸
🚗 BaT Alumni Listings - Do they sell better or worse than regular listings?
🚙 PistonHeads - How they’ve done so far…
🥳 Sale(s) Of The Day - Two 2023 Ford Bronco’s, which one fared better?
💪 2005 Ford GT Auction - My verdict on the result of this auction..
📰 Vroomy Reads - Latest car news brought straight to your inbox
MARKET LEADERBOARD
💰 The figures shared below don’t count any other sales such as car seats, memorabilia etc..
I only include websites that have sold 10+ cars in the chart below.
A number of sites sold 2, 5,6, 8 cars etc.. But I made an executive decision today that (maybe just for one day) I would only show those who have excelled.
You’ll notice an asterisk next to Cars & Bids, they actually sold 31 cars during the auctions. However they must have hustled the butt off to sell a further 5 cars right after the auction.
While they keep the selling price under wraps (I genuinely wish they'd disclose it for a precise statistical comparison on price trends), and the specifics of any deals made on the buyer premium remain undisclosed, their effort is undeniably commendable.
They've worked tirelessly, acting as intermediaries between the seller and bidders to ensure deals come to fruition, which is precisely what a seller desires. Hats off to them for this!
It's this very reason I highlighted in a prior post about Bring A Trailer, highlighting on the potential revenue they are missing out on…
TOP 5 SALES OF THE DAY
2003 Ferrari 575M Maranello 6-Speed $400,000
2011 Porsche 911 Speedster $321,000
1956 Porsche 356A Sunroof Coupe $175,000
🏁Bring A Trailer's Alumni Listings: A Deep Dive 🚗🔍
Bring A Trailer has ‘recently’ introduced an intriguing label for vehicles: Alumni. These are cars that have previously been sold on the platform, making their way back for another round. The reasons for resale can vary. Sometimes sellers look to flip their prized cars for a profit, while at other times they might be willing to part with them even at a loss.
I delved deep into all the Alumni listings that have occurred in September so far. Out of 45 listings, a staggering 35 were sold. That's a sell-through rate of about 78%. Interestingly, this rate aligns pretty closely with Bring A Trailer's average sell-through rate across all vehicles. The chart above & the summary below are just for 10 of those 35 that resold this month.
📈 Gainers:
The 1965 Porsche 912 Coupe saw an increase of $17,750 from its first sale price of $42,250 on September 2019 to $60,000 yesterday.
The 1990 Chevrolet Corvette ZR-1 witnessed a climb of $4,000 from an initial sale price of $25,250 on 29th July to $29,250 just over a month later!
The 2003 GMC Safari experienced an uptick of $1,223 from its first sale amount of $12,777 on 28th June to $14,000 yesterday.
📉 Drops:
The 1964 GAZ 69 took a hit, with a decrease of $2,119 from its original sale price of $15,369 on July 2022 to $13,250 yesterday.
The 1995 Land Rover Range Rover Classic 25th Anniversary Edition dipped slightly by $749 from its prior sale price of $27,500 on 15th February to $26,751 yesterday.
In conclusion, the Alumni listings on Bring A Trailer offer a fascinating glimpse into the resale market dynamics. As cars come back onto the platform, they carry with them stories of previous sales, potential profits, and sometimes losses.
Would you like to see more analysis like this in the future and/or the complete comparison list of these Alumni vehicles? |
PISTONHEADS
Following my discussion yesterday on the potential cost benefits of importing cars from Europe/UK 🌍✈️, my inbox was flooded with inquiries about the platforms that feature cars from these regions. Regular readers of The Daily Vroom would be familiar with my frequent mentions of Collecting Cars, Car & Classic, and Bonhams Online. Moreover, I recently touched upon Pistonheads, a prominent UK brand that has just ventured into the online auction arena.
From initial observations, they seem to be gaining momentum with a good number of bids, boasting two successful sales out of 11 listings 📈. The real challenge lies in maintaining this momentum: can they consistently present cars and, once that's established, ensure these cars are sold (provided their platform functions seamlessly). A quick glance at their website reveals just one live listing as of now 🧐. I'm optimistic that this is a brief lull, and we'll soon witness an influx of listings from them.
SALE(S) OF THE DAY
I couldn't believe my eyes yesterday! I stumbled upon not one, but two 2023 Ford Broncos, each showcased on a different auction site. Time for a detailed comparison – let's dive in! 🚘🔥
1. Sold on PCARMARKET for $97,500:
Location: Parsippany, NJ 07054
Mileage: 93 miles
Exterior Color: Code Orange
Key Features: Fox racing suspension, 37” tires, reinforcing throughout the frame and drivetrain, LED headlights, removable running boards, Terrain Management system with G.O.A.T. modes.
2. Sold on Cars & Bids for $90,000:
Location: Dallas, TX 75230
Mileage: 1,200 miles
Exterior Color: Shadow Black
Key Features: Lux and High packages, carbon fiber interior trim, leather and suede upholstery, 20-inch Vossen wheels (with original 17-inch wheels included), Lux Package with heated steering wheel, adaptive cruise control, and more, High Package with 12-inch touchscreen, 360-degree camera.
Why the $90,000 Bronco Raptor is the Better Deal 🏆💵
While both Broncos boast the power and craftsmanship expected from a Raptor, there's a clear winner when it comes to value for money. The Bronco sold for $90,000 offers more bang for your buck:
Comprehensive Packages: It comes with both the Lux and High packages, which means added features and enhancements that elevate the driving experience.
Stylish Upgrades: The carbon fiber interior trim and leather and suede upholstery exude a touch of luxury.
Wheel Choices: The addition of 20-inch Vossen wheels offers a modern touch, but for purists, the original 17-inch wheels are also included.
Pricing: Let's not forget, all these features come at a $7,500 saving compared to the other Bronco!
In the world of car auctions, it's essential to look beyond the surface. While the lower mileage of the Bronco sold on PCARMARKET might seem appealing, the comprehensive features and significant savings of the $90,000 Bronco make it the smarter choice for discerning buyers. 🧠💡
The Tale of the 2005 Ford GT: An Alumni's Second Dance 🚗💃
Encore Performance ✨ Yesterday, the captivating 2005 Ford GT, with just 4,800 miles, was back under the spotlight. Not just any GT, but an Alumni car that once pirouetted its way to a $366,000 winning bid on BaT back in January 2022. Now, it returned, hoping to captivate the audience once again. But the applause wasn't as loud this time around.
Market Shifts 📉 This GT's previous dance on BaT had wooed bidders to a hefty $366,000. Fast forward to the present auction, and the highest serenade was a slightly muted $354,000. It's evident: the days of these cars easily fetching $400k+ have momentarily waned. The market, like a fickle lover, has cooled.
Several factors could be at play here. Some may argue the GT's color played a role in the less-than-expected bid, while others suggest a broader market softening. I've also heard whispers questioning whether the post-holiday season had potential bidders a bit more restrained.
To Sell or Not to Sell? 🤷♂️ As much as I think the final bid reflects the current state of the market, I can't help but ponder on the seller's next move. If I were in their shoes and there wasn't an urgent need to sell, I'd consider holding onto this masterpiece. Let it age like fine wine and wait for the market's appetite to regain its former vigor.
Given the recent bid of $354,000 for the 2005 Ford GT (previously sold for $366,000 in January 2022), do you think the seller made the right call by not selling this time around? |
VROOMY READS
No need to go scouring the internet for the latest cars news. 🚀🔍 Here at the Daily Vroom, we've done all the hard work for you.
Sit back, relax, and enjoy the most captivating reads on the automotive world. 🚗💨 Happy reading! 📰😊
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