💰 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!

After the buzz of Friday's almost $10 million in sales, we've landed back in reality—or have we? Typically, our Monday sales hover around $5 million, but yesterday we soared past that, hitting just over $6 million, with BaT raking in $4.1 million of that total. So, what's the state of the market today? Are prices on the rise or cooling off? From what I can tell on analyzing all the stats, demand is sky-high, but we're talking sensible prices now, not the 'crazy' ones we saw 18 months ago. As for the leaderboard above, no-one wants to stand out and take on the big boys YET.

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

Time to get real about Hagerty. Hagerty is a company that's always caught my eye for their ambition. They're clear about what they're after and chase it down with a fierceness, whether it's snagging insurance customers, racking up magazine subscribers, hosting events, delving into finance, setting up garages, or running live auctions. They've nailed most of these endeavors—well, not all, but that's a tale for another time.

So, when they rolled out their online platform, I figured they'd only be showcasing top-tier cars, aiming to quickly rise to the top or at least rub shoulders with the market leaders. But let's face it, no matter how big your brand is, success doesn't happen overnight. Patience is key. However, after a solid year of online auctions, they're far from hitting the mark they aimed for. And since data's my jam, let me lay out their sales figures for this year.

The numbers are frankly dismal for a company of Hagerty's caliber. They've barely crossed $1.7 million in sales (to put it in perspective, Bring a Trailer pulls in over $4 million daily), with an average sale price of $23K and a measly three listings a day.

Why Have They Struggled?

There's no single culprit for their struggle, but let's dive into a glaring issue: a real lack of market acumen. It seems they never fully grasped the online market's intricacies or the psychology different from the live auction scene, where they operate The Broad Arrow Group. This segment has seen some success, pulling in $108.5 million in vehicle sales last year, dwarfed by BaT's $1 billion.

They probably thought their reputation and vast client base would mean a constant flow of cars and, consequently, hefty commissions. That, unfortunately, wasn't the case. Beyond the launch, it appears they didn't strategize for the long haul—what happens in month 7, month 11, and so on. The ability to pivot and anticipate seems lacking, underscoring a broader issue of unpreparedness.

Another puzzling choice was having their high-end Broad Arrow team run the online auctions. Initially, each auction featured a representative's personal contact info—a clear sign that these folks, while experienced in auctions, might not grasp the online format's nuances. Competitors like Cars & Bids and Collecting Cars rely on specialized teams for a reason. Hagerty's initial approach showed a misunderstanding of the online space's demands.

I also can't overlook their presentation and user experience, which pale compared to how Cars & Bids and BaT showcase crucial car details upfront. Hagerty's approach (if you scroll down) is noticeably different, and not in a good way.

In Conclusion

Hagerty's online auction endeavor reveals a fundamental misunderstanding of the online market's workings, a lack of genuine effort—have they really given it their all?—and poor execution. However they're still small enough in the auction world to ensure they have a dedicated team hustling for every sale, much like Cars & Bids.

Let’s be real here, they’re not securing those high-value cars, nor does it seem like they're aiming to sell at the lower end of the market. They're at a crossroads: either shift their mindset, treat the online auction as a standalone business by hiring experts in the space and leveraging their existing clientele for better cars, or pivot back to focusing on their live auction business with Broad Arrow, which seems more lucrative. That's likely the better path to boost their stock value, which I’m sure is what Mckeel Hagerty wants.

Porsche really nailed it with their color combos back in the late '80s, and this Blue Speedster with a cashmere interior is a prime example—just, wow. The tale of this 1989 Porsche 911 Speedster isn't just about rarity; sure, I get a kick out of spotting those one-in-ten gems on auction sites. But sometimes, it's the sheer beauty of a car that makes me stop dead in my tracks, mouth agape.

This Speedster is one of those cars. Its stunning color and sporty seats are a sight to behold. And with the price hitting $200k as we head into the final day, it's clear I'm not the only one captivated. Boasting a mere 13k miles, this piece of German engineering from the '80s is a collector's dream.

Located in New York, and listed by the legendary 1600veloce, this Speedster combines timeless Porsche aesthetics with the thrill of open-top driving. From its dark blue paint to the cashmere beige leather upholstery and those iconic 16" Fuchs alloy wheels, every detail screams classic Porsche elegance.

Whether you're into the specs or just the sheer beauty of this car, it's a standout piece that shows the enduring allure of Porsche's design and engineering.