GT500 vs GT350 - Make Your Choice?

PLUS: Is BaT White-Glove Service Worth The Cost??

The Daily Vroom


Happy Friday, Vroomers!

Next week, we've got an exciting lineup of features that I'm confident you'll find right up your alley. In the meantime, enjoy today's edition.

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!

For all of you who've requested the leaderboard become a staple in our daily newsletter, it will indeed be featured most days. I'd love to see the leaderboard brimming with a variety of companies, but currently, that's not the situation. Yesterday, we saw sales exceeding $6 million across all platforms, and these numbers are starting to show remarkable consistency. As for today's sales, I don't anticipate we'll match last Friday's record-breaking $9.9 million in sales. However, when looking beyond the top four platforms, there are plenty of promising listings. The real question is whether they can draw enough interest to have at least two bidders vying for a car, and whether sellers have set realistic reserve prices. I'm still noticing a lot of sellers, especially in the lower to middle price range, setting unrealistic reserve prices, based on the many non-sales.

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.

2022 Ferrari 812 GTS $636,000

2019 Porsche 911 Speedster $350,000

2017 Mercedes-Maybach S650 Cabriolet $260,000

2022 Ferrari Roma $230,000

2002 BMW Z8 $180,000

Is White-Glove Service Worth it?

BaT, flourishing under Hearst's ownership, has leveraged the conglomerate's vast scale to its advantage while maintaining operational autonomy. This partnership has notably enhanced BaT's visibility, with its auctions featured in prestigious Hearst publications like Car & Driver and Road & Track, thus broadening its audience. Furthermore, it's plausible that Hearst's technological resources have played a role in the development of BaT's acclaimed app and the eagerly anticipated new website.

Community concerns about potential ad clutter post-acquisition have been largely allayed, as BaT has remained almost entirely ad-free, aside from a few possible pre-Hearst exceptions. Nevertheless, the imperative to boost revenue has led to an increase in maximum fees from 5% to 7.5%.

In response to the need for new revenue sources, BaT is now highlighting its White-Glove service, aimed directly from their press release, particularly at sellers of high-value, six-figure-plus vehicles. This elevated listing service is a testament to BaT's innovative approach, offering comprehensive support including professional photography, videography, listing creation, enhanced marketing, and dedicated auction support for a flat fee of $2,500 per vehicle, with no additional fees or commissions. This service is meticulously designed to maximize a vehicle's appeal and selling price, featuring:

  • Featured status on BaT's homepage and emails for increased exposure.

  • Prominent placement in the "Featured Auctions" section.

  • Professional photography package for an extensive vehicle showcase.

  • Engine start and walk-around videos, with optional in-car driving footage.

  • Active management of the comment section and direct inquiries.

  • Phone and text support during the live auction.

  • Strategic social media campaigns targeting BaT's extensive follower base.

However, it's essential to consider the $2,500 investment against the backdrop of the vehicle's potential to sell. The White-Glove service, while offering significant value to the higher-end vehicles, does not guarantee a sale, which could result in the investment being non-recoverable. Additionally, BaT's network of trusted partners offers an alternative that may yield better results for some sellers, even if potentially at a higher cost. The effectiveness of these partners varies, making careful selection crucial.

As BaT continues to grow within the Hearst ecosystem, the White-Glove service represents a strategic effort to enhance seller experiences and open up new revenue pathways. This move aligns with BaT's commitment to its community-driven platform, adapting to the evolving dynamics of the online auction marketplace while aiming to preserve its unique ethos.

Would you consider using BaT's White-Glove service for your next vehicle auction?

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Daily Auction Spotlight

A few auctions that caught my eye today. Click on the image to be taken directly to the listing.

Be the only one at a Cars & Coffee - Looks a bit like a Pacer, named a Monza, but this is no sluggish malaise era American car. This Italian stunner is a true Abarth and I have been told that this car has been fully sorted and it shows. The video at the end is not only a great driving video (let's hear those revs as the engine winds out), but starts with a full history lesson about the evolution of these cars and why this one is so unique. If you are the lucky buyer, and this is your first Abarth, you should probably watch the start procedure too.

Another one to watch over the weekend. I will keep saying it over and over again. Weekends are a GREAT time to sell cars on the internet. Here we have an impeccably documented and highly desirable GT500. It has the Marti report, it has the photos (2,000 from the restoration alone), the receipts and even a spare 427 engine on a stand that is included in the sale. If you have been in the market for a car that can be driven, enjoyed and appreciated, while it appreciates in value, this car is masterfully presented by leading BaT seller 1600Veloce.

Sticking on a theme here, we present an alternative to the GT500 that is sorted and running, with a spare engine on a stand, just in case. This car is a genuine and documented GT350 that is being sold as a non-running project. Not your average project car, mind you... This example is said to be the last 1966 GT350 produced for public sale and the last fastback built for the model year. According to the seller, since his purchase, the car has been stored with the intent of retaining the condition in which it was discovered. If you were the buyer, would you be able to express such restraint? I think that the first thing that I would do if I bought this car is bring it to Larry at AMMO NYC to let his OCD take over and detail the heck out of this car and Dry Ice the undercarriage to his heart's content. 

And here we have another high-mileage 1997 Supra that is already bid up over $40k with 16 hours remaining on the clock. It amazes me what a following these cars have. Even with 200k miles and years in the Florida sun, this listing with its worn interior is likely to sell for more than the 388k mile 1993 Supra that sold last week for $49,500. Again, it is a testament to the durability and reliability of these Toyotas that bidding and interest in these cars is as significant as it is.

Remembering

I just got word today that Mark Starr, who owned Hunting Ridge Motors, died suddenly today. He was a regular BaT seller (https://bringatrailer.com/member/mark_starr/) with stellar listings and a great reputation. He was a fixture on the scene in NYC and in surrounding areas through Westchester and Connecticut. I had followed his listings for years and I finally had the chance to meet Mark and his faithful Golden Retriever companion Ziggy last Fall. He had a deep passion for great cars and an incredible ability to source and market them. Truly beloved by many throughout the community, my social feeds have been filled with fitting tributes to Mark and the impact that he left on so many. It only seems fitting to honor Mark and his work here at The Daily Vroom. 

Here is a video that shows Mark's passion while driving one of his favorite cars in his personal collection.

Credit: Tom Nisco tomnis.co

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