Is There a Market Cooldown?

PLUS: Hidden Gems: Standout Cars from Smaller Auction Sites

The Daily Vroom

Good Morning Vroomers,

I get a lot of emails every day asking if we're seeing a market cooldown. People want to know whether it's a good time to buy or sell certain cars and where the best place is to list them. When it comes to listing a car, it's really a matter of personal preference. You should always do your homework on the platforms you're considering, or even if you're looking to sell elsewhere. There's no one-size-fits-all answer—each decision depends on a range of factors.

As for the market cooldown, I've shared my thoughts on where I think the market is headed below.

See you tomorrow,

Sam

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+ vehicles in the chart below.

It was a tough day in the office for some of the well-known platforms that didn’t make it to the leaderboard, as they struggled to pull in sales. Overall, though, the numbers were in line with a regular Wednesday, with just over $7 million in total sales and an average sale price of $42k.

YESTERDAY’S TOP 5 SALES

Want to dive deeper into any of these listings? Just click on the car to take you directly to the listing.

2012 Lexus LFA $810,000

2023 Aston Martin DBS Coupe 770 Ultimate $353,555

1963 Chevrolet Corvette Split-Window Coupe $329,000

2003 BMW Z8 $203,000

2020 Mercedes-AMG GT R Roadster $196,888

Market Reset: Adapting to New Realities in Car Auctions?

In the world of classic car auctions, we’re witnessing a fascinating shift—a recalibration from the pandemic-fueled frenzy back to more grounded valuations. During the COVID pandemic, the market was hot, with prices soaring as people turned their attention—and their disposable income—towards collectibles. Low-interest rates and stimulus checks created a perfect storm, flooding the market with liquidity and driving up auction values. Flipping cars for profit became almost commonplace, with buyers willing to pay top dollar just to get their hands on something rare or nostalgic.

Now, however, the landscape is changing. Everywhere I look, there’s talk about a market reset in terms of prices, and it’s hard to ignore. While there are still plenty of flips happening, many of the deals that would have sparked bidding wars 18 months ago are no longer generating the same excitement. The market isn't quite as wild; it's become more discerning. Those quick profits aren’t as easy to come by unless you’ve got something truly special. We’re witnessing a reset to more sustainable pricing for many makes and models as the initial rush of demand cools down and broader economic conditions take their toll. Is that a market cooldown or more of a calibration?

Take, for instance, some recent examples: the 2012 Lexus LFA I showcased above sold for $810k, showing that some models haven’t really seen their prices shift much, no market cooldown on this one. Give it 5+ years and this might just be a $1m car.

Here are some 2024 examples, where sellers no doubt were hoping for a nice big flip.

This 2024 Mercedes-AMG G63 didn’t meet the reserve at $199k, just shy of its $202k MSRP—honestly, not a bad price, but the seller clearly thinks he can do better, which I highly doubt!

Then there’s the 2024 Porsche 718 Spyder RS Weissach that sold for $214k against an MSRP of $193k. No huge markup here, even though dealers are trying to get $250k+ for these. If dealers are savvy—and many are—they can snag a bargain on auction sites and flip to real-life regular folk.

This 2024 Land Rover Range Rover Sport SV Edition One didn't meet its reserve at $181k, which is pretty close to its $192k MSRP. With Range Rovers flooding the dealer lots, to get so close and not sell says a lot. Generally speaking Range Rovers values only go one way…

And then there's the case of the 1994 Porsche 911 Turbo 3.6, which didn't sell yesterday for $365k. This car was a relist from a few months ago when the buyer pulled out after winning it for $399k.

Now, some are quick to say the market is cooling based on this result. But here's the thing—we have to be really careful about jumping to conclusions from one result. Markets can be fickle, and anything can happen in isolation. One car not meeting reserve doesn’t define the whole market. This is why having comprehensive data and understanding broader trends is so crucial. It gives us the bigger picture, beyond the headlines and the one-off results. (in this case traffic to this auction vs previous was a lot lower.)

These examples highlight the shifting mindset in the market. Many sellers are still stuck in the COVID-era mentality, expecting those high prices to continue indefinitely. There are countless examples of this and more. While we've seen some incredible sellers across platforms who know when to sell, there are still plenty who either bought high or have the flipper mentality, believing the market is still riding the pandemic wave.

This shift is happening against a backdrop of broader economic uncertainty. We’re in the middle of an election cycle, with potential changes in economic policy and tax regulations looming on the horizon. This kind of uncertainty can make people hesitant to spend big, leading to more cautious bidding at many auctions and impacting overall values for some models and makes.

High-interest rates are another factor weighing on the market. They make borrowing more expensive, which can put a damper on high-value purchases. However, there’s constant speculation about when these rates might be cut. If and when that happens, we could see a resurgence in auction activity, as financing becomes more attractive again.

On the flip side, the high prices of Bitcoin and gold suggest that investors are seeking safe havens, indicating a desire for tangible assets that hold value. This trend could bring more liquidity into the car market, as investors cash out their profits and look for new investment opportunities. With extra cash on hand, they might turn to classic cars—not just as a passion but also as a way to diversify and secure their assets in these uncertain times.

It's very difficult to predict with 100% certainty where the market is headed for every single make and model. However, if you have all the data—comprehensive insights into auction results, trends across different platforms, historical prices, and economic indicators—you can make more informed decisions.

Having access to this data means you're not just guessing; you're strategically navigating the market, identifying the cars that are likely to hold their value, and timing your buys and sells to maximize returns. In a market that's maturing and evolving, knowledge is your most powerful tool.

So, while the market has shifted from the pandemic highs, it’s far from stagnant. The days of anything-and-everything fetching crazy prices might be behind us, but there are still opportunities for those who play the game smart. It’s about finding the right balance between rarity, condition, and long-term appeal. The market has matured, and so have the buyers. They’re looking for value and longevity, not just the next quick flip. Those who can adapt to these new dynamics will continue to find success in this evolving landscape.

But why do we still have to talk so much about value? Sometimes, it’s just about finding a car that’s simply fun to drive. Maybe that’s just me…

When buying a collector car, what's your main motivation?

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Hidden Gems: Standout Cars from Smaller Auction Sites You Need to See

In a world where the big players in car auctions often steal the spotlight, it's easy to overlook the smaller auction sites that quietly host some real gems. As I mentioned in The Daily Vroom a few days back, sometimes these under-the-radar platforms serve up listings that make you sit up and take notice. Today, I've pulled together four standout cars from a few of these lesser-known, USA-based auction sites. These aren't just any cars—they're the kind that stop you in your tracks, whether it's because of their rarity, their stunning restoration, or simply the nostalgia they evoke. So, let's dive into these hidden treasures and see what makes them worth the spotlight.

Now, this is a car that screams Americana—raw, unapologetic muscle with a dash of "don't mess with me" attitude. The 1969 Plymouth Road Runner HEMI is more than just a car; it's a piece of history that roars down the pavement, leaving nothing but envy in its wake. This particular Road Runner, with its 426 HEMI under the hood and that unmistakable Vitamin-C Orange paint, is a statement. It's saying, "I am here, and I'm taking over."

What really pulls me in is its authenticity. Fully documented, matching numbers, and personally inspected by Mopar guru David Wise—this car isn’t just a looker; it’s a bona fide collector’s dream. With only 26,273 original miles, it’s practically a time capsule, taking you back to the golden era of American muscle. A four-speed manual transmission and a Hurst shifter—it's the kind of setup that makes you want to find an open road and see just how much rubber you can burn.

If you want to talk about legends, look no further than the 1966 Pontiac GTO. This is the car that put "muscle" in "muscle car." And with its original 389 V8 engine and the Tri-Power setup, this beauty is a throwback to a time when power was measured in cubic inches and the open road was an invitation to freedom.

What grabs me about this GTO is its authenticity—matching numbers, original Montero Red paint, and a pristine red interior. It's like stepping into a time machine that takes you back to a simpler time when life was about the next quarter mile. With just over 56,000 miles, this car has been around the block but still holds onto that sense of nostalgia that makes you smile every time you hear the engine growl.

The 1965 Corvette isn't just a car; it's an icon, a piece of art on four wheels. This red roadster, with its numbers-matching 327ci V8, is a testament to what happens when you mix style with performance. The black interior, the white convertible top—it's a color combo that exudes class and makes you want to throw on a pair of Ray-Bans and hit the coast.

This Corvette is all about that perfect balance between beauty and brawn. The 327 under the hood offers enough power to give you a thrill without sacrificing that smooth, open-top cruising experience. Restored to perfection, this car is like a fine wine—it only gets better with age. For any collector, this Sting Ray isn't just a purchase; it's an investment in a piece of automotive history.

The 1957 Chevy Bel Air is a classic in every sense, but this restomod takes the timeless beauty and infuses it with modern muscle. With a GM Performance 350 V8 crate engine and a TREMEC 5-speed manual, this Bel Air isn't just about looking good—it's about feeling alive. Red paint, chrome accents, and that sleek, iconic profile—it’s the kind of car that turns heads at every stoplight.

What really sets this Bel Air apart is how it blends the old with the new. Vintage Air A/C, a retro stereo with modern connectivity, and four-wheel disc brakes bring this classic firmly into the 21st century. It’s a nod to the past with a foot in the future—a car that honors its heritage while embracing the new. For those who want the best of both worlds, this Bel Air is the answer.

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