The Daily Vroom

Good morning, Vroomers!

Today, we’re diving into the big market trends and the top-line numbers from 2024. I’ve kept it straight to the main talking points so we can focus on what really matters and what might be coming our way in 2025. Let’s take a look at the year that was and what it means for the road ahead!

YESTERDAY’S TOP 5 SALES

Yesterday, Collecting Cars stole the spotlight with two of the top three sales coming from their Australian listings—proof that the global market holds massive potential. Check out my article below for more thoughts on why the international stage is such an opportunity. Meanwhile, a nod to Cars & Bids for kicking off the year on a high note with the impressive $302k sale of a Ferrari 812.

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

Is 2025 the Year the Auto Industry Hits the Brakes?

I've been thinking about what the market will look like by the end of 2025, and that’s got me reflecting on the overall state of the automotive industry. With Honda and Nissan merging at the close of 2024, it feels like we’re on the brink of more big changes. Consolidations, collapses—who’s next? European automakers are starting to look like satellites orbiting VW, and their next moves are anyone’s guess. Could the market handle a Chrysler or Jeep folding entirely? Without some major government intervention in 2025 and beyond, it’s hard to see a way forward for some of these companies.

And that’s where things get complicated. We’re not living in austerity just yet, but with a new government analyzing every line item, you have to wonder—would they step in to save an automaker at enormous cost? Even legacy brands, with their massive workforce and deep roots, might not get the lifeline they need if spending cuts are the priority.

If an automaker goes under, the ripple effects will hit every corner of the industry, including the online auction market. When brands disappear, certain models sometimes transform into collector icons. Think Dodge’s Challenger or Jeep’s Cherokee. Suddenly, these cars could become more than just vehicles—they could become history. Could the same thing happen if, say, Chrysler’s 300C or Jeep’s Wrangler Rubicon lost their corporate safety net? Maybe. But it’s not a guarantee. A lot depends on the car’s story, its fanbase, and how much cultural weight it carries.

For the online auction market, this could be a double-edged sword. On one hand, fewer new cars might drive more interest toward older models with character and history. On the other, uncertainty about OEM stability could make buyers cautious, creating some volatility. If you’re running a platform, this is the moment to pay attention. Highlighting models with cultural significance, tracking shifting values, and adapting to these changes could make or break you in this new landscape.

What we’re seeing is a market on the brink of transformation. Consolidations, collapses, government decisions—they’re all going to ripple through the collector car world. And while that might sound like doom and gloom, it’s also an opportunity. For platforms, buyers, and sellers alike, the question isn’t whether things will change—it’s how to get ahead of it.

2025 is shaping up to be a year of big moves, bold bets, and plenty of surprises. The real question is: are we ready for what’s coming?

Online Auction Sales: 2023 vs. 2024

Setting the Scene

The collector car market is at a crossroads. Online platforms continue their relentless growth, with total online sales in 2024 hitting just shy of $2 billion—a notable jump from $1.9 billion in 2023. ($100 million difference). What's remarkable is that the average sale price stayed consistent at $43,000 for both years, despite a rise in volume with over 4,000 additional cars sold. Platforms like Bring a Trailer (BaT) are leading the charge, but there’s much more beneath the surface shaping these trends.

RM Sotheby’s and Live Auctions: A Record Year

Live auction houses aren’t fading into the background just yet. RM Sotheby’s had a standout year in 2024, with a staggering $887 million in total sales. Yet, even with such impressive numbers, they didn’t match BaT in terms of volume or growth trajectory. This juxtaposition highlights the evolving dynamics between online and live auctions. While live events dominate the high-end market, they increasingly face pressure from more accessible, community-driven online platforms.

Why Online Auctions Are Winning

The growth of online platforms can’t just be attributed to quantity; it’s about the experience. Platforms like BaT and Cars & Bids thrive on transparency, accessibility, and community engagement. They make it easier for enthusiasts to bid confidently, offering detailed listings with extensive photos, videos, and active comment sections.

Live auctions, by contrast, remain focused on spectacle. They’re luxurious, in-person experiences catering to a specific clientele—especially those shopping in the multi-million-dollar range. Events like Monterey and now ModaMiami are still where Ferraris, Lamborghinis, and other rare exotics change hands, but online auctions are steadily chipping away at their market share.

The Struggle for the High-End Market

Platforms like SBX tried to tap into the ultra-high-end segment but struggled to gain traction. Despite grand ambitions, they failed to sell a single car at auction close to $1 million in 2024. This isn’t because online platforms can’t handle high-end sales—it’s because their fee structures and buyer dynamics don’t currently align with the expectations of that market.

Could platforms like BaT or Collecting Cars pivot to target these high-end buyers? It’s possible, but it would require a tailored strategy, perhaps introducing a premium tier with higher fees to justify the effort and resources required for such sales.

Sustaining Growth in 2025

The real story isn’t just about the high-end cars—it’s about sustaining growth across the board. Platforms like Cars & Bids face mounting pressure to expand their listings and capture new audiences. Meanwhile, BaT’s 2024 changes hint at an evolving strategy to maintain dominance.

What’s exciting is the arrival of newcomers looking to disrupt the market. These fresh platforms will have to innovate to carve out their niche, but their entry highlights just how attractive the online auction space has become.

Looking at the Global Landscape

One interesting model to watch is what Collecting Cars has achieved. By expanding globally, (see above the two top sales from Australia) they’ve diversified their audience and listings while maintaining a strong local focus. This strategy has clearly worked, and it’s one BaT seems ready to emulate. With their upcoming expansion into Europe, BaT appears poised to take on new markets aggressively, setting the stage for some fascinating competition.

Looking Ahead

The big question for 2025 is whether the momentum can continue. As the broader automotive industry grapples with challenges like OEM consolidations and potential collapses, the ripple effects will inevitably reach the auction market. For online platforms, this is both a challenge and an opportunity. The rise of collector cars as an investment class and the increasing appeal of older models with character will continue to fuel growth.

However, to truly capitalize on this momentum, platforms will need to address lingering gaps like the high-end market—and navigate an increasingly crowded field. 2025 is shaping up to be a pivotal year for both live and online auctions. Whether it’s a year of breakthroughs or growing pains remains to be seen, but one thing is clear: the collector car market is far from slowing down.

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