Doug DeMuro's E63 AMG Wagon Returns to Auction!

PLUS: Your Feedback on Hagerty

The Daily Vroom


Good morning, Vroomers!

No small talk today, let’s cut right to the action.

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. Which means Hagerty and many others did not sell 5 vehicles yesterday!

Following yesterday's discussion on Hagerty's future direction (referencing your feedback below), I was half-expecting them to prove me wrong today (honestly, I root for everyone's success). However, that didn't happen. They managed to sell only one car, fetching a mere $3,500. This outcome somewhat reinforces my argument that perhaps their efforts would be better allocated to one of their other 10+ ventures. Despite this, yesterday was a notable day with nearly $6 million in sales. As you can see with the leaderboard above, no other platforms have yet to make a significant move, although we did see many sites have 1/2/3 sales yesterday.

YESTERDAY’S TOP 5 SALES

This included a record sale for the 89 Porsche 911 Speedster that we featured yesterday.

Just click on the image, and boom, you're right at the listing.

1996 Porsche 911 Turbo $471,050

1989 Porsche 911 Speedster $325,000

2022 Maserati MC20 $175,000

2017 Porsche 911 Turbo S Coupe $170,000

2007 Porsche 911 GT3 $156,000

Welcome Back WDDHH7EB2CA54753!

These AI-generated images are actually pretty cool—I'm having a blast making them. Imagine if they could also jot down all the thoughts in my head; I'd be chilling on a beach with a cocktail instead of cooped up in my chilly house!

Anyway, yep, it's kinda true—Doug's car is on the market. It's the very first car Doug DeMuro listed on Cars & Bids: the 2012 Mercedes-Benz E63 AMG Wagon that initially went for $35,000. That auction even racked up 860 comments, which might just be a site record.

So, here's the scoop: the original buyer, who's now selling it, has added another 18K miles to it (bringing it to 108K miles) and mentioned he's not getting enough use out of it for his current lifestyle, hence why it's up for grabs again. The current bid stands at $22K. Question is, will it reach its original $35K selling price, or maybe even surpass it? We've got four days left to find out…

What do you think the final price will be?

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Nearly Sale Of The Day

In the high-stakes world of collector car auctions, the final bid often reflects a nuanced interplay of factors, and yesterday's auction of the Ruby Star 2023 Porsche 718 Cayman GT4 RS Weissach at $232,111 is a case in point. Despite having just 41 miles on the odometer, this nearly new Porsche fell short of sealing the deal. Comparing it to two similar sales earlier this year—a $217k deal for a 6k-mile unit and a $238,000 transaction for one with 1k miles—one might have expected this car to meet or exceed these figures.

As we know, the market dictates price, influenced by the collective will of the bidders and the seller's own threshold for letting go. High-end vehicles often escape the urgency of sale unless the offer is irresistibly lucrative. However, the distinctive Ruby Star color of this Porsche emerges as the proverbial elephant in the room. While it's a unique and potentially appealing choice for some, it undoubtedly narrows the field of prospective buyers. This particular hue, while striking, isn't universally beloved, possibly leading to a narrower audience at the auction.

That final bid for the Ruby Star Porsche? Right on the money, in my view, especially for such a standout color. But let’s not forget, it all boils down to having the right couple of bidders in the room—or online, in this case. Those are the folks who drive the price, and if they're vibing with the car's unique appeal, then you've got a match. However, the seller's totally within their rights to pass if the numbers don’t align with their expectations. High-end cars like this play by different rules. There’s generally no rush to sell, giving sellers the luxury to wait for that perfect bid. It’s a different ball game compared to flipping a $20k car, where the urgency to sell is a lot more pressing.

Daily Auction Spotlight

Here's how I end up going down a rabbit hole real quick, and I'm pretty sure many of you can relate. While I was checking out the above AMG on Cars & Bids, I couldn't resist browsing through all their auctions, and wow, did I lose track of time. So, instead of just keeping my wandering thoughts to myself, I thought I'd share some of my impressions on a few of their current listings.

First up is this 1991 Toyota Camry DX Wagon:

My mom had 4 of these Camrys over the years. They are the most resilient and reliable cars that I have ever seen. What they lack in inspiration and passion, they make up for in loyalty and reliability. This one, with a wagon configuration. seems set to haul groceries well into the 22nd century with minimal maintenance required.

Next one that caught my eye is this 2010 Toyota FJ Cruiser:

I think these are destined to be future collectibles. They have a child-like Tonka truck look and historic Toyota reliability. Probably more suited to off-road than on, but I imagine that road manners are manageable.

Finally (for now) is this 2020 Lotus Evora GT:

A car that's only clocked 1 mile! The seller says he hasn't driven it because he bought two and only drives the one in Daytona Blue!

Your Feedback

Yesterday, we threw a question your way: 'What should Hagerty focus on next with their auction strategy?' Turns out, most of you think they ought to shift gears and head straight into the live auction scene, where they've got The Broad Arrow Group waiting in the wings. Although many of you are not that impressed with Broad Arrow!

Here are some of the comments you guys dropped on us.

B team of a B team, this is the side project of the folks who split off from RM in 2020. Do a comparison between Broad Arrow and RM’s last few live sales if you want to see what I mean.

I had a consultation with them a while back, and they just don’t get it. So much potential- such a shame…

Personally, I think they continue to focus on Broad Arrow and use events like The Amelia to generate buzz for that brand, eventually adding major point-in-time Broad Arrow online auctions to their portfolio using their digital platform. Basically following what RMSotheby's and Bonhams have done. Perhaps that can lead to more premium vehicles listed with their online service and eventually more notoriety and visits to the platform. Their media wing is underutilized in promoting Hagerty Marketplace too. Lots of opportunity there.

Broad Arrow is to high end last years results were mostly from the Jim Taylor auction which I attended and was not at all impressed by the results.

Hagerty went public on the NYSE couple years ago and it seems this is part of their plan to be a dominant platform for everything automotive....Not satisfied with being just a automotive insurer.....Gotta answer to the stockholders now...

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