🚗 Hennessey Venom F5's Auction Standoff

PLUS: A catch up on how Cars & Bids have fared in 2024

The Daily Vroom

Good morning, Vroomers!

Today's edition is bursting at the seams. Let's cut right to the chase and dive in.

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, PCarMarket and many others did not sell 5 vehicles yesterday!

Yesterday, BaT bounced right back to those robust 4th quarter 2023 sales figures, raking in just under $4.2 million out of $6.2 million in total sales. The thought of reaching 100 vehicle sales a day is floating around – could we see it happen soon? It’s fascinating because, to us, these numbers have become the norm. Yet, pausing to appreciate the constant flow of high-volume sales reveals its sheer impressiveness. What strikes me as even more remarkable is the potential I see for them to consistently achieve 100+ sales every single day without breaking a sweat.

YESTERDAY’S TOP 5 SALES

Yesterday presented a unique occurrence in the auction scene – the top five sales featured vehicles from five distinct brands. For those unfamiliar, the Ford Sierra RS Cosworth stands out as a high-octane variant of the Ford Sierra, crafted by Ford Europe to deliver exceptional performance.

1971 Mercedes-Benz 280SE 3.5 Cabriolet $380,000

2005 Ferrari 612 Scaglietti 6-Speed $297,500

1987 Ford Sierra RS500 Cosworth $152,400

1993 Prevost LE Mirage XL Liberty Motorhome $151,000

1949 Cadillac Series 61 Club Coupe $150,000

The Hennessey Venom F5's Auction Standoff

In the spotlight yesterday was a vehicle that's nothing short of extraordinary—the 2023 Hennessey Venom F5 Roadster. A handmade marvel, this hypercar is a testament to what happens when exclusivity and engineering prowess collide. It's clear, however, that this beauty isn't everyone's cup of tea, with plenty of chatter around its lesser-known status compared to other hypercars and a steep asking price in the ballpark of $2 million+. With such a niche appeal, it's no surprise that the demand and supply dynamics are quite unique for this vehicle. A similar model fetching $2.2 million at Amelia this weekend highlights its value, considering the close bid of $1,850,000 which is not too far off when you account for all the fees.

Here's a quick rundown of what makes this Hennessey Venom F5 Roadster stand out:

Despite the car's groundbreaking specs and the allure of its Citrus Orange carbon-fiber beauty, the auction's high bid of $1,850,000 fell short of the reserve. With 55,000 views and 2,900 watchers, interest was undoubtedly high, yet it seems the right buyer didn't make their move.

Perhaps, for such specialized and supremely priced vehicles, a longer auction period might serve better. It's clear these hypercars cater to a very specific clientele—a group that doesn't rush their investments, especially when it involves parting with north of $2 million.

Should the auction duration be extended for ultra-exclusive vehicles like the Hennessey Venom F5 Roadster to better match them with the right buyers?

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Cars & Bids: Year So Far

Diving into a quick catch-up session is always a bit of fun, isn't it? We've navigated through quite a few deep dives here on The Daily Vroom, yet today's agenda is all about zooming out for a broader view of this year's sales antics. Just a heads up, we're only chatting about those auction sales. There's a whole hustle behind the scenes selling off those RNM (reserve not met) gems post-auction, but since those sale prices are under wraps, they're not in today's spotlight.

BMW's leading the pack in sales so far, taking the top spot without much contest. I'm keen to see if they keep this streak running in the months ahead. The real head-scratcher for me was not spotting Rivian on the chart; I had it pegged they were moving a bunch of those. Turns out, they've actually been selling a decent number of Rivians - 26 to be exact, this year.

2013 is leading the sales charts at the moment, with 2023 trailing just a bit behind. The standout seller for 2013 is a Ford F-250 Super Duty Lariat 4X4 Excursion Conversion, which fetched $69,000.

If you've been keeping tabs on our daily sales insights, you're probably aware that Monday tends to be a bit sluggish in terms of sales. However, Tuesday turning out to be the top sales day was quite the revelation. Could this be a strategic move by Cars & Bids, scheduling their most appealing auctions (whatever "appealing" might entail) to conclude on Tuesdays? Or perhaps it's the day when buyers are most eager to snag a new ride. This intriguing pattern warrants a deeper dive across other platforms, and I promise to circle back with my findings.


Auctions To Watch

It is not often that we see a one owner 1963 Porsche 356B Super Cabriolet. One owner cared for and loved this car for decades, leaving it to his spouse when he died in 2022. Aside from a respray, this final year 356B remains highly authentic and would be a great addition to any collection.

Affordable Porsches

Here at The Daily Vroom, I often highlight that Porsche is the dominant brand across online collector car auctions. I also like to highlight affordable entries into Porsche ownership. This 944 is not perfect, but it does look pretty clean and well cared for and the seller has been engaged in comments with his passion showing through. It has modifications that are mostly tasteful and could be a great and affordable entry point for someone who wants their first 944.

Speaking of honestly presented possibly affordable Porsches, this 911 is, well, a 911. It has been a Southern car since 1992 and seems to have been in Florida since 2006. That owner has turned 75 and thinks it is time to sell his beloved 911. It is not perfect, but it looks clean and driveable, with an engine located in the proper position and the important update to the Carerra tensioners. Affordable and air cooled are rarely uttered in the same sentence anymore, but if the seller has a reasonable reserve, someone may just find a diamond in the rough.

Now this is different... If I had to guess, I would imagine that the person who commissioned this build was up late one night creating AI images of crazy Land Rover builds and finally saw a design that captured all of the textures and desires of their likely altered mental state. OK, so we start with a Defender 110, because, Defender. Then we remove the roof and make the windshield fold forward. Before we put in the custom brown leather seats with the repeating cube pattern, we should install a faux teak floor, because who needs floor mats in a beach cruiser. The 300Tdi engine has been meticulously "remanufactured to precise factory standards", but the factory standards were not exactly the pinnacle of performance engines. I fully expected an LS swap on this one, but this was clearly someone else's vision, a vision that clearly wasn't complete without 37" tires. I am glad that someone lived their dream out in speccing this AI inspired build. With only 400 miles on it, I wonder why they didn't want to enjoy the fruits of their labor for longer. It is a really special build, but the seller is about to find out whether his vision was a shared vision or a fever dream.

There are few vehicles that hold their value better at high mileages than a Toyota Land Cruiser. This one, with just shy of 400K miles, shows some corrosion, but overall is still a great looking and distinctive ride. It seems remarkably clean and well maintained, despite some eye watering mileage.

Do you agree with Car Dealership Guy?

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Speaking of cars that run forever... This million mile car is less than 1/5th of the way to 1MM miles and still looks like the classy ride that it has always been. I personally own two of these, a sedan and a wagon. I am pretty convinced that these cars will outlive me. I own Mercedes cars of multiple decades and I am always amazed at how familiar these different models and variants can be from the highest of performance to the slow and steady wins the race 80s diesels.

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