The Daily Vroom

Welcome to the Thursday edition of The Daily Vroom, your one-stop-shop for collector and modern car online auction news, trends, and insights.

Here's what we've got for you today:

It might seem like a shorter newsletter & it kind of is. But in reality this was the LONGEST prep work I've done thus far for any of the newsletters. All the stats you're looking for are in one table, but my oh my it took time to get those numbers. You'll see 7 companies mentioned, but in reality, I analysed 10+ companies to get to these 7 companies.

It's all about the output baby!! Sit back and enjoy the stats 😀

LETS TALK MARCH SALES STATS

After spending hours & hours crunching numbers and converting currencies, (there were many, thanks U.K. companies!!)

I've put together this handy table for you. It wasn't the easiest task, but now you can clearly see which company sold how many cars and the average selling price of those vehicles.

I know the numbers might not be 100% accurate due to conversion rates and potentially missing a sale, but I've double-checked everything to make sure the trends we see here are reliable and the numbers are pretty pretty good.

So what are these trends? As expected, Bring A Trailer sold the most vehicles in March. They're way ahead of the competition, selling nearly 1,000 more cars than their nearest competitor, Cars & Bids.

Now, here's something surprising: Car & Classic is in third place, having sold 360 cars in March. Some of you in North America might not be familiar with them. Their CEO, Tom Wood, runs a well-organized operation with sales coming from both Europe and the UK. In March 20% of sales were from Europe. It'll be interesting to see how they perform in the future.

In fact, three of these top seven companies are based in the UK. For those who don't know about The Market, it was bought by a private equity group that also owns Bonhams a few years back. They focus mostly on the UK market, with some sales in Europe and the US.

Collecting Cars, which some of you might know because of Chris Harris from Top Gear UK (is there another Top Gear that's better? I don't think so!), sells cars mainly in Europe, the UK, and Australia and very few in the U.S. yet...

The point I'm trying to make is that the UK car auction scene is really heating up. There's a 'friendly' competition between Car & Classic & Collecting Cars, and now maybe even The Market. They're all unique companies run in VERY different ways. (a post for another day)

Looking back at the numbers, it's interesting to see that PCARMARKET had the highest average selling price of $71,707. They started as a Porsche-focused site but now sell various types of vehicles. Their top sale in March was a 2005 Ford GT, which went for an impressive $395,000.

On a side note, Porsche's own auction site, (kind of) Marqued, hasn't been doing too well in terms of sales and listings since its launch about a year ago. I've been really disappointed in how they've gone about their work, I was hoping, and still hope for a better platform & strategy.

It's worth noting that Hemmings, one of the most established companies in the car auction space, has surprisingly low sales numbers and average selling prices compared to the competition.

With the right leadership and strategy, Hemmings should have been the company leading the way. This presents an opportunity for Hemmings to reevaluate its approach and potentially become a more significant player in the car auction market. Will they do that???

I'll be back tomorrow, in the meantime this will be for the rest of the day.

PLEASE Spread the word and share the love of all things automotive by forwarding this newsletter to your fellow car enthusiasts! Let's keep the conversation going and make sure everyone gets in on the action. Here's a direct link they can subscribe.

A ROADERS REVIEW