Cars & Bids: Facing a Critical Choice for the Future

PLUS: Yesterday’s Dismal Sell-Through and a Stunning Audi Ur-Quattro Sale

The Daily Vroom

Hey Vroomers!

Today we've got the lowdown on some dismal sell-through rates, but don't worry - there's still plenty of horsepower in those sales figures.

We're diving into the top 5 sales, including a black-on-black Ferrari 488 that's turning heads. (certianly mine) Plus, we're taking a closer look at Cars & Bids as they hit a crossroads - will they stick to their modern car guns or shift gears for growth?

Catch you tomorrow, 

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+ vehicles in the chart below.

The sell-through rate for everyone yesterday was downright dismal - just look at the stats. BaT had 51 vehicles that didn't sell, which really shows how much improvement they can still make in this game.

But here's the thing - even though the sell-through rate was absolutely dreadful, there was still $6.5m worth of vehicle sales. That ain't too bad when you think about it.

YESTERDAY’S TOP 5 SALES

Some cracking sales yesterday, Vroomers. I've got to say, that black on black Ferrari 488 that went for $208k, great deal. Reasonable price for a stunning piece of machinery.

Now, let's chat about that 2014 Mercedes-Benz SLS AMG Black Series. No two ways about it, it's a gorgeous car that's begging to be driven. But here's where it gets interesting - I've been keeping an eye on the comments section of this one and previous auctions, and blimey, you'd think this was the holy grail of automobiles. Everyone's banging on about how it's a million-dollar car and the buyer's robbed the seller blind.

Let's pump the brakes a bit, shall we. Sure, it might hit the million-dollar mark... someday. Emphasis on might. But let's deal in reality for a moment. These beauties are typically changing hands for between $700k to $750k, give or take depending on condition, mileage, and whether the previous owner treated it like a precious artifact or actually took it for a spin now and then.

So, seeing this one go for considerably less. Yeah, it looks like a solid deal on paper. But before we all lose our heads, let's see where the market lands after a few more of these cross the auction block. The collector car market can be as unpredictable as a cat in a room full of rocking chairs, and I'm not about to call this the deal of the century just yet.

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

2014 Mercedes-Benz SLS AMG Black Series $667,800

1958 Porsche 356A Speedster $312,000

1998 Porsche 993 Turbo X50 $247,484

2023 Porsche 911 Turbo S Coupe $222,000

2016 Ferrari 488 GTB $208,000

Cars & Bids at a Crossroads: Modern Car Focus vs. the Push for Growth

There’s been a lot of noise from Cars & Bids about their 3-year anniversary yesterday on Wednesday, with the emails and hype rolling in. But I was a little confused as I thought they are older than 3 years?

What they’re actually. celebrating isn’t the company anniversary (they started trading in May 2020), but the anniversary of having no fees to list your car. Hey, any excuse to get some good messaging out there. Many charge for a listing, so free listings does help!

Now, yesterday I touched on BaT being the clear market leader, miles ahead of the competition—but things can change, however unlikely it seems. It’s also important to acknowledge where Cars & Bids has come in the last three years. They’ve sold over 22,000 vehicles, racked up more than half a billion dollars in sales, and secured the number 2 spot in the U.S. auction game. Not too shabby.

But let’s not forget that in January 2023, Cars & Bids effectively got sold to The Chernin Group, a private equity firm that invested $37 million. A solid chunk of that probably went to Doug DeMuro, and good for him. The idea was that Doug would shift focus back to making YouTube videos, while the Chernin team would handle growing the business. Doug even said at the time, "It’s going to allow us to take Cars & Bids to the next level, let me refocus on making YouTube videos and get the help of a group of people who actually know what they’re doing."

They brought in a new CEO and hired some fresh talent, but here’s the thing: startups rarely glide along smoothly, and earlier this year, things got rocky. Big layoffs happened, including the CEO. Private equity firms need massive growth, and Cars & Bids just hasn’t hit that next gear yet. Don’t get me wrong—they’ve done incredibly well to get this far, but that leap to Doug’s “next level”? It’s proven a lot tougher than expected.

Their sell-through rate is up there with BaT, and they’re selling on average 20-25 cars Monday to Friday. (not this week!) They’ve added some solid features too—Doug’s weekly podcast, This Car Pod, is a hit, and their shipping widget is slick. But here’s the big issue—they can’t seem to break through that magic number of 35+ listings a day.

One idea that’s been tossed around to boost that number is going after older cars, but Doug has stuck to his guns. Cars & Bids is all about modern vehicles—that’s their brand, and I respect that. I like that they’re clear on what they do: "Auctions of cool modern cars, trucks, and SUVs."

But let’s be real, The Chernin Group are not sentimental about this stuff. They likely don’t care whether the cars are modern or classic; they care about growth. They’ve had almost two years of ownership, and while there have been some shiny new features and modest growth in listings and sales, the needle hasn’t moved much in the last year. That’s why we saw the staff and CEO cuts.

So, here’s the big question: has the romantic idea of being just for modern cars run its course? If they were to open the doors to older vehicles, I’d bet those listing numbers would shoot up. It all depends on where they want to take this ‘thing’. With private equity, it’s all about growth—week by week, month by month, quarter by quarter. It’s going to be interesting to see what plans they’ve got brewing.

Sale of the Day

Sold yesterday for $109,000 through Bonhams Cars Online, this 1985 Audi Ur-Quattro represents not just a stunning example of 1980s automotive engineering, but also a fascinating case study in modern collector car sales strategies.

The car's story is compelling: one meticulous owner for the past 35 years, an astonishingly low 17,000 miles on the odometer, and a maintenance record that would make even the most fastidious collector swoon. The current owner's attention to detail is evident - from the powder-coated subframes and Waxoyl treatment applied in 1989 to ward off rust, to the recent addition of a stainless steel exhaust and fresh tires. Always garaged and offered with a full Audi service history, a fresh service, this Ur-Quattro is about as close to time-travel as one can get in the automotive world.

What makes this sale particularly interesting is the blend of old-world showcase and digital marketplace. The car was displayed at the prestigious Goodwood Revival event before being sold online, a savvy move that allowed potential buyers to inspect the vehicle in person while still benefiting from the reach of an online auction. This hybrid approach is something that I’m seeing more and more of.

As for the car itself, I have to say, I'm smitten. The Ur-Quattro has always held a special place in my heart. It's not just a car; it's a pivotal moment in automotive history, wrapped in a boxy, aggressive '80s shell. This particular example, with its early 10v WR engine variant, represents the Ur-Quattro in its purest form.

What really excites me about this car is imagining the driving experience. The thrill of hearing that distinctive five-cylinder engine note, feeling the surge of turbocharged power, and experiencing the groundbreaking Quattro all-wheel-drive system - all in a car that feels essentially new - must be utterly intoxicating. It's a time machine that doesn't just look the part, but drives like it too.

The $109,000 price tag might raise eyebrows, but in my opinion, it's justified. We're not just talking about a well-preserved classic here; this is museum-quality preservation of a car that changed the game in both road cars and rallying. The Ur-Quattro's influence can still be felt in modern performance cars, and owning one in this condition is like having a piece of automotive history in your garage.

Of course, the new owner faces the classic collector's dilemma: preserve the low mileage or enjoy the car as its engineers intended? Given the rust-prevention measures and recent updates, I'd be sorely tempted to add some careful miles. After all, the Ur-Quattro was built for twisty mountain roads and snowy passes, not just climate-controlled garages.

Enjoying The Daily Vroom?

Pay it forward by sharing this newsletter with an automotive aficionado in your circles. Your endorsement allows us to accelerate our growth.

Send them to thedailyvroom.com to subscribe for free.

Reply

or to participate.