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TDV: Can you share with our community your journey to becoming the President of Hemmings? What inspired you to step into this role, and how did your past experiences shape your vision for the company? 

JS: Being President of Hemmings during this pivotal time in the collector car industry is truly an honor. The landscape of marketplaces and media is evolving rapidly, and I find myself perfectly positioned to leverage my professional growth for Hemmings’ benefit. It’s a unique moment where my career trajectory and Hemmings’ needs align, enabling me to contribute significantly to its transformation and success.

My path to becoming President of Hemmings was driven by a personal connection and a diverse career in digital product development, marketing, and e-commerce. My earliest exposure to Hemmings was when my grandfather, Ray, used to bring his copies of the Hemmings Motor News magazine to our house when I was a kid. We’d flip through the classifieds and point out our dream rides. My fingers would be black with ink by the time we finished going through its hundreds of pages.

Inspired by these early memories and amazing mentors who’ve helped shape my career, my skills, and passion for the automotive industry enabled me to lead Hemmings through a digital transformation, ensuring its legacy in a rapidly evolving collector car market.

In 2019, as Head of Product & Development at American City Business Journals, part of Advance, I was tasked with leading the development of a new auction platform for Hemmings, a print-media giant. Realizing Hemmings' potential in the digital realm, I embraced the challenge, seeing it as an opportunity to leverage the brand's longstanding trust in the collector car world. With leadership's support, I expanded my role, immersing myself in the company to blend my professional skills with my love for cars, creating a dynamic community. Joining Hemmings in 2020 marked a pivotal moment for both my career and the company's digital evolution, turning a 70-year-old establishment into a vibrant start-up. I'm proud of our team's transformative efforts.

TDV: Could you walk us through a typical day as the President of Hemmings? How do you balance the strategic decisions with the operational aspects of running such a multifaceted platform?

JS: Multifaceted is correct - we often joke internally about the multi-headed beast that is Hemmings. Leading Hemmings involves the difficult balancing of operational tasks and strategic decision-making. My role requires focusing on long-term strategies while ensuring daily operations align with our mission. I rely on a network of industry experts for insights and have built a team capable of executing our vision, ensuring Hemmings remains agile and innovative.

My paramount responsibility is to ensure our strategy and brand positioning are a winning combination. I’ve cultivated a vast network of automotive media industry experts for insights and keep abreast of trends in related fields, such as the marine and aviation industries, to remain informed on investment flows and new product launches.  

At Hemmings, it became clear that the scope of decisions exceeds what one person can manage. I've been fortunate to assemble a top-tier team capable of steering our operations. They are integral to shaping our strategy, drawing from their rich experiences to ensure broad-based buy-in and readiness for implementation. Our entire staff, not just the leadership, understands and can articulate our brand's direction. With our strategy set, my role shifts to ensuring the team has the necessary resources and removing any obstacles to their success.

TDV: Hemmings is known for its rich heritage in the car enthusiast community. Can you share some statistics or facts about Hemmings that our readers might not be aware of?

JS: Celebrating its 70th anniversary, Hemmings has grown from a 4-page pamphlet to a massive marketplace with over 1.1 million account holders. In 2023 alone, Hemmings.com received over 71 million users visiting our marketplace and content.  

While many companies have moved towards embracing automated customer service representatives, Hemmings understands the importance of building relationships with our customers and offering premier customer service. To that point, we still maintain a dedicated customer service department at our headquarters in Vermont that answers every single customer service call.

We are also proud to share that Hemmings’ new marketplace app, available on iOS and Android devices, is downloaded by 5,000 new customers monthly. We also average 30,000 monthly collector car listings.

Hemmings Motor News is still highly valued. In fact, it’s the best-selling automotive magazine at America’s largest bookseller. These statistics only enforce our dedication to ensuring the legacy of Hemmings lives on.

TDV: How has Hemmings evolved over the years, especially in adapting to the digital landscape? Since you became President, what significant changes have you implemented, and how have these changes reinforced Hemmings’ position in the market? What have been the biggest challenges and opportunities of transitioning a significant print audience to digital platforms and solutions?

JS: When tasked with transforming an entire business, I found myself reflecting on where Hemmings was in 2019. At that time, we had virtually no marketing department – leading us to an inactive social media presence, no internal digital development resources, and an audience that wasn’t growing. Since becoming President, I've spearheaded Hemmings' digital expansion. Within my first two years in the role, we launched online auctions, a Make Offer marketplace, and a mobile app while maintaining our strong print presence. This year, we are proud to announce our new Frictionless Marketplace – a suite of services (valuation, inspection, Pay + Title, insurance, and shipping) to make the buying and selling process … well – frictionless. We’ve relaunched our YouTube channel and are focusing on creating more original digital editorial content. We have unveiled a complete rebranding of the business. We've adapted to serve distinct print and digital audiences, enhancing our brand and customer base in the digital era without compromising our print audience.

TDV: Hemmings wears multiple hats – as a publisher, an online auction platform, and delving into real estate. How do you see the identity of Hemmings in this diverse market? What is the core essence of Hemmings according to you?

JS: Hemmings serves as a community hub for collector car enthusiasts, embracing all niches within the collector car hobby. Our diverse offerings reflect Hemmings’ commitment to the community, making it a unique and inclusive platform.

TDV: Could you give us an insight into the composition of Hemmings' business? Specifically, what percentage of your operations are online auctions, publishing, and real estate? How do these different verticals complement each other?

JS: In 2020, we developed our lifecycle strategy to support collector car enthusiasts at every journey stage, from initial buying interest to buying, owning, and eventually selling or expanding their collection.  Our approach includes interest development through engaging content and research guides, facilitating purchases and services via our marketplaces, enriching ownership through events (both owned and supported), and aiding sales with valuations and diverse selling options. The cycle - engage and research, buy, own and experience, sell and/or buy again – ensures a comprehensive support system for the community.

In 2023, digital media and digital marketplaces became Hemmings’ primary revenue driver. On Hemmings.com, 85% of our web traffic goes to our marketplace & marketplace services pages, and the balance goes to editorial content and resource guides. In the marketplace, our inventory breakdown is as follows: vehicles from the 2000s and newer constitute 25%, those from the ‘80s and ‘90s make up 17%, the ‘60s and ‘70s represent 41%, the 1950s account for 9%, and vehicles older than 1949 comprise 8%.

Private sellers opt to use the online auction and Make Offer marketplaces almost 2:1 over traditional classified ads. They opt for these selling options because of the significant marketing value and ease of use Hemmings can provide the sellers and their vehicles. On average, our platform ensures vehicles sell within 34 days, sparing sellers from having to manage multiple postings across numerous sites and filtering through calls from non-serious buyers.

TDV: We've noticed and written about the recent changes in Hemmings' website and user experience. Given these updates, what is the rationale behind continuing to run Google AdSense on your site, especially considering user experience concerns? 

JS: Feedback from critiques has driven us to enhance our site's user experience, balancing the need for ads to support our digital media business without compromising our marketplace's effectiveness. While we feel that we’ve done a great job enhancing our user experience and design, we aren’t done improving and optimizing our platforms.

My stance on digital advertising is dual-faceted. For the marketplace, particularly on auction and Make Offer pages, I find them less favorable as they detract from our goal of maximizing sales. Therefore, we plan to minimize ads in these crucial areas to enhance user experience and effectiveness. On the other hand, advertising is essential for our content sections. It's the lifeline that supports our digital media endeavors, allowing us to offer top-notch journalism without resorting to a paywall. This ad-supported approach helps us sustain the quality work of our esteemed journalists and editors, ensuring we deliver valuable content to our audience.

TDV: Hemmings recently launched what you called a game-changing Pay & Title service. Could you elaborate on this service and its significance in the collector car space?  Specifically, I have a few questions about it. Are the funds held in escrow, or is this primarily a payment processing platform?

JS: It's well-known that the most challenging aspect of collector car transactions involves the fund exchange and title transfer, with 90% of these deals happening privately. Many potential sales fall through due to fraud concerns. We introduced Hemmings Pay + Title as a service that would eliminate what we felt were the biggest barriers to entry and exit: money transfer and legal paperwork. To address this, we launched Hemmings Pay + Title, which is designed to remove major hurdles: securing money transfers and handling legal documents. This service authenticates identities, confirms vehicle ownership, secures funds until the car is shipped, and even provides a 30-day temporary registration for immediate enjoyment. Unlike escrow, you can’t refuse the item when it arrives to you. Our process encourages pre-purchase inspections, which will soon be integrated directly into our marketplace, ensuring transparency and confidence in vehicle quality for online buyers.

TDV: In transactions, especially high-value ones, disputes, or misunderstandings can occasionally arise. Does Hemmings or KeySavvy play any role in mediating these situations? How is the integrity of transactions maintained through your platform?

JS: In our Make Offer and online auction platforms, we diligently confirm vehicle quality, title, and ownership before listing. We've maintained a "blacklist" for decades to exclude problematic individuals, dealers, and companies permanently from Hemmings. In cases where a vehicle's condition significantly deviates from the seller's description, we offer a full refund of our fees on a case-by-case basis. While we mediate disputes upon request, the digital age's requirement for detailed photos has made discrepancies less common. We always recommend in-person inspections or using an independent inspector, which we facilitate through an integrated inspection service, enhancing our marketplace's user experience.

TDV: With Key Savvy acting as the dealer in the Pay & Title process, how are sales taxes and other legalities or disputes managed, particularly when transactions span across different states and jurisdictions?

JS: Key Savvy has developed an exceptional platform designed to adapt its processes and documentation to comply with the regulations of all 50 U.S. states. This ensures that if a car doesn't meet the necessary legal requirements, the sale is voided, and all funds are returned. Responsibility for tax payments falls on the buyer and seller, with the exception of Minnesota, where Key Savvy is required to collect and remit vehicle sales tax, highlighting their commitment to legal compliance and customer convenience. 

TDV: In the ever-evolving automotive market, particularly with the rise of electric vehicles and digital technologies, what trends are you currently observing? How is Hemmings adapting to these trends to meet the changing needs and interests of car enthusiasts?

JS: Resto-modding, enhancing collector cars with modern technology, is increasingly popular and can boost a vehicle's value when correctly done. It's especially appealing to younger buyers like Millennials and Gen Z. We actively explore this trend in our content, offering guides on successful resto-modding. EV conversions for collector cars are emerging but face obstacles similar to mainstream EV adoption, such as the need for a widespread charging network, which currently limits broader acceptance.

TDV: The online car auction and automotive publishing space is quite competitive with numerous established and emerging players. How does Hemmings differentiate itself from competitors? What unique value does Hemmings offer to its community of car enthusiasts and collectors?

JS: The digital marketplace, especially in the U.S., is oversaturated, making the survival of new entrants difficult. Many established players have failed in launching new marketplace ventures, underestimating the audience size and inventory needed for success. Hemmings stands out with its scale, serious/quality buyers, extensive vehicle listings, and three distinct marketplaces offering varied transaction options. Our direct customer support and suite of services aim to streamline the buying and selling process. Our commitment to customer success sets us apart and is key to our 70-year legacy.

TDV: Looking forward, what major trends do you foresee in the collector car market or the automotive industry as a whole? How is Hemmings preparing to not just adapt but also lead in the face of these trends?

JS: Digital transactions for collector cars are on the rise, offering economic benefits for both buyers and sellers, with an expected increase in high-value digital transactions. Post-COVID, average sale prices have normalized to pre-2020 levels, adjusting for inflation, indicating that profit from flipping without restoration is unlikely. The market is moving towards more specialized, niche categories. Classic 4x4s, especially from the '80s and '90s, are becoming more valuable, while pre-1940s vehicles are seeing less interest online. Hemmings leads in creating a frictionless marketplace, aiming to match modern e-commerce experiences. We continuously seek to innovate by addressing consumer pain points and employing successful strategies from other industries, staying at the forefront of product development.

Yesterday’s discussion on AutoTrader upcoming launch brought in a staggering amount of feedback from you. The majority of you think the despite their name, they have already made some huge missteps.

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