Whenever a big sale goes down, one of the first questions is "How does this compare to past sales?" Well, we've got all that juicy data and then some.

To give you a behind-the-scenes look at how these recent top sales stack up, we're including a breakdown of comparable auctions under each one. Think of it as a frame of reference to better understand if that final price was a deal, an overpay, or right in the sweet spot.

No direct comparable sales existed for the Bentley model.

No direct comparable sales existed for the Audi model.

Last week we asked you ‘Do you consider SBX Cars' $6M sale of the Lamborghini Veneno Roadster to be the new world record for the most valuable car sold via an online-only auction platform?’

The resounding majority of you voted (no surprise) ‘No, since it was finalized as a private sale after the auction ended, it shouldn't count as the online auction record’.

Here are a few of your comments:

Remember a few weeks back when we broke down the revenue behemoth that is Bring a Trailer? Well, we've had a ton of requests to pull back the curtain on other platforms too. So today, we're taking a deep dive into the money mechanics of Cars & Bids.

Their fee structure is simple - 4.5% seller's commission capped at $4,500 max, with zero listing fees.

But you know we're all about them hard numbers here. So let's just rip the band-aid off and look at the raw data first:

Key Insights from Monthly Total Revenue Chart

1. Steady Revenue Growth:

   • There is a consistent upward trend in total revenue from January to May, showing that Cars & Bids is successfully increasing its revenue month over month.

2. Notable Increase in February and May:

   • The most significant jumps in revenue occur between January to February and April to May.

3. Consistency Despite Variability:

   • The overall revenue shows a consistent upward trajectory, despite any potential month-to-month variability in the number of high-value transactions.

Monthly Revenue Trends and Insights

Lower Segments ($0-$20k, $20k-$50k, $50k-$100k):

• $0-$20k:

  • Revenue Growth: There is a noticeable month-on-month increase in revenue from this segment. Revenue jumps from $45,000 in January to $75,000 in May, indicating growing sales volume in the lower-priced vehicle category.

  • Analysis: This segment is experiencing significant growth, driven by an increase in the number of lower-priced vehicles being sold each month. This suggests that Cars & Bids is attracting more budget-conscious buyers or sellers looking to quickly offload vehicles.

• $20k-$50k:

  • Revenue Growth: Consistent revenue growth is observed in this segment, climbing from $103,000 in January to $150,000 in May.

  • Analysis: The steady increase indicates a healthy and stable demand for mid-range vehicles. This segment contributes significantly to the overall revenue, reflecting consistent sales volume growth.

• $50k-$100k:

  • Revenue Growth: This segment shows a stable upward trend. January starts at $96,000 and reaches $143,000 by May.

  • Analysis: While the growth is not as rapid as the lower segments, this mid-low range is also contributing to the overall revenue growth, indicating solid demand and consistent sales in this price range.

High-End Segments ($100k+):

• $100k-$250k:

  • Revenue Stability: This category remains relatively stable, with monthly revenue hovering around $130,000. There is a slight dip in March but a recovery in the following months.

  • Analysis: The stability in this segment suggests a consistent demand for high-end vehicles, even though the sales volume may not be as high as the lower segments.

• $250k-$500k:

  • Revenue Variability: Revenue in this segment shows variability, peaking at $30,000 in May.

  • Analysis: This segment reflects occasional high-value sales, which can significantly boost the monthly revenue when they occur.

• $500k-$1M:

  • Revenue Consistency: While not growing rapidly, this segment contributes significant value when sales occur. Revenue in this segment is relatively consistent each month.

  • Analysis: High-value vehicle sales in this range provide substantial revenue but are not the primary drivers of monthly revenue growth.

Key Drivers of Revenue Growth:

• Lower Segments are Booming:

  • The surge in lower-priced vehicle sales ($0-$20k and $20k-$50k) is the biggest driver of overall revenue growth. The consistent month-on-month increase suggests a higher volume of transactions in these segments, boosting total revenue.

• Mid-Low Range Stability:

  • The $50k-$100k range contributes to steady growth, reflecting solid demand and consistent sales. This segment's stability is crucial for maintaining overall revenue growth.

• High-End Sales Consistency:

  • While high-end segments ($100k+) are not showing significant growth, they provide stable and substantial contributions to revenue. These segments add value without the same volume as the lower ranges, ensuring a balanced revenue stream.

Summary:

• More Lower-Priced Vehicles: There is a clear increase in the number of lower-priced vehicles being sold each month, driving the most significant revenue growth. Is that to do with the economy?

• Steady $100k+ Sales: High-end sales remain steady, ensuring stable revenue without significant month-to-month increases.

• Volume Drives Growth: The lower and mid-low segments are the primary drivers of monthly revenue growth, with increased sales volume contributing to the overall revenue surge.

In essence, Cars & Bids' revenue growth is fueled by an uptick in the sales volume of lower-priced vehicles, while high-end sales continue to provide a stable revenue stream. This balanced approach helps maintain robust revenue growth month after month.

Revenue Distribution by Price Range

Key Insights:

1. Mid-Range Dominance:

   • The $20k-$50k price range contributes the largest proportion of total revenue, accounting for 37.46%. This indicates that mid-range vehicles are the most lucrative for Cars & Bids.

2. Lower and Mid-Low Segments:

   • The $0-$20k and $50k-$100k segments also contribute significantly, with 25.08% and 26.56% of total revenue, respectively. These segments combined with the $20k-$50k range make up nearly 90% of the total revenue.

3. High-End Segments:

   • The $100k-$250k price range contributes 9.67% of the total revenue, showing that high-end vehicles also play a crucial role, although less so compared to mid-range vehicles.

   • The $250k-$500k and $500k-$1M segments contribute very small percentages, highlighting that these very high-end sales are less frequent.

Key Insights:

• Porsche 911: Consistently among the top three revenue generators each month, often securing the highest revenue.

• Rivian R1S: Frequently appears in the top three, although its position varies.

• BMW 3 Series: Also regularly in the top three, with a strong performance in April.

• Chevrolet Corvette: Appears in the top three in February and May.

The specific top models vary slightly each month, indicating some variability in the highest revenue-generating vehicles. However, Porsche 911, Rivian R1S, and BMW 3 Series consistently appear among the top performers, reflecting their strong market presence and popularity.

Top Performing Models by Revenue

Key Insights:

1. Porsche 911:

   • The Porsche 911 stands out as the top revenue-generating model, contributing a significant $174,585.20 in buyer fees. This model's popularity and high value make it a consistent top performer.

2. BMW 3 Series:

   • The BMW 3 Series is another high-performing model, generating $130,901.90 in revenue. Its strong presence highlights its appeal among buyers.

3. Rivian R1S:

   • The Rivian R1S ranks third, a vehicle they’ve always been strong sellers of, with $122,017.55 in revenue. This model's popularity indicates a strong market interest in newer electric vehicles.

4. Chevrolet Corvette:

   • The Chevrolet Corvette is a notable high-revenue model, contributing $84,062.48. Its performance underscores its enduring popularity.

5. Other Notable Models:

   • BMW 5 Series, Tesla Model S, Mercedes-Benz E-Class, Mazda MX-5 Miata, Rivian R1T, and Tesla Model 3 also make the list of top revenue generators, showing a diverse range of high-performing models.

Summary:

The numbers don't lie - Cars & Bids' bread and butter is clearly in the $0-50k price range, accounting for a whopping 90% of their revenue. While they've made efforts to push into the higher-end market since the new year, those results have been hit or miss so far.

At the end of the day, they need to double down on the sweet spot that's consistently printing money. I'm not saying abandon the ultra-high-end stuff altogether - having that variety is great for flexing their reach. But their marketing energy and outreach should concentrate on solidifying their dominance in that $0-50k wheelhouse first and foremost.

Build out those metrics showing prospective sellers just how successful they are at moving specific makes and models in that price range. Give buyers confidence that C&B is the go-to marketplace for cars in that $0-50k territory. Once that foundation is reinforced, then they can really ramp up efforts to capture more high-dollar sales.

Okay, since this is all about the revenue, let's wrap it up with some figures to chew on...

Based on the data from January to May and assuming the same growth rate continues:

• Total projected sales for the entire year: $145,610,176.80

• Total projected commission revenue for the entire year: $6,140,169.90