💰 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!

Given that yesterday was a national holiday and some platforms opted for a day 'off', the near $6 million in sales on a Monday is significant. The continuous growth of online platforms as the preferred destination for car purchases is becoming increasingly evident with each passing day.

Yesterday hit the sweet spot for me with three different platforms landing in the top 5 selling vehicles, nearly four with the 6th highest sale belonging to another platform. It's a pretty rare sight, seeing as it's usually the same one or two dominating. I'm all for it when the big sales get spread around.

The McLaren showcased below, which didn't meet its reserve at $304,000 back in October, has resurfaced. After racking up another 1k miles, the seller has now decided to go ahead and accept a similar offer this time around.

To view the listings, just click on the image.

In the ever-evolving landscape of online car auctions, it seems like everyone and their mother wants to throw their hat into the ring with the promise of something "new" and "different." And here we go again—AutoTrader.com has decided it's their turn to spice things up with the launch of their Auction-Style Listings product. According to their latest press releases, they're pitching this as the next big thing since sliced bread, claiming a unique approach that's apparently unlike anything else out there.

“AutoTrader.com's innovative new auction-style buying and selling tool has been built from the ground up to serve the needs of mainstream used car buyers and sellers better than existing auction-style sites.“ (how do they know it’s better if it’s not launched??)

But let's pump the brakes for a second and take a closer look, shall we?

First off, they're making a big deal about not charging a seller's fee. Sounds great on paper, but it's not exactly the groundbreaking feature they're making it out to be. Plenty of platforms out there already let sellers list without forking over a fee.

So, what's the catch? Here's where things get interesting: traditionally, they charge $49 for a classified listing. But now, by eliminating seller's fees for auctions, it seems they're gambling on the allure of "free" auctions to not only attract sellers who might have gone the classified route but also hoping the buyer's fees collected from auctions will offset any losses from the classified side. It's a delicate balance, like juggling apples and oranges and hoping not to end up with fruit salad. They're betting that the volume and buyer's fees will keep the lights on, but if they're not careful, this shift could significantly impact where the real value lies for both sellers and buyers.

And let's talk about their proclaimed in-house knowledge of the online auction market. If history's taught us anything, it's that new platforms often underestimate the complexity of this beast. Teething problems are one thing, but a fundamental misunderstanding of how the market operates? That's a whole other can of worms. We’ve seen exactly that with Hagerty.

This sentence perfectly articulates this exact thought of not understanding the online auction market

“Since mainstream car buyers strongly prefer to see a car before buying it, they will be able to bid on conditional auction-style listings, which allow the winning bidder to inspect the car before completing the purchase” (what sane seller will allow this??)

So not concluding a deal until the buyer has seen the vehicle in person. On the surface, it sounds consumer-friendly, but it opens up a Pandora's box of potential issues. What's to stop a buyer from bypassing the platform to avoid fees after seeing the car? Or using any minor issue as leverage to beat down the price?

The traditional understanding of online auctions is clear: what you see is what you get. If you're local (and sometimes even if you're not), you typically have the chance to check out the car during the auction, not afterward. Introducing a post-auction inspection seems like it's just inviting complications.

As for the other bells and whistles they're touting—no further details yet, with a launch slated for March. It begs the question: why dive into the auction world now? Is it the allure of the success seen by platforms like BaT, or is it a desperate move in response to a 43% traffic nosedive over the last two years?

It's one thing to aim for a slice of the auction pie; it's another to truly innovate and enhance the buyer and seller experience. Until we see how AutoTrader.com's platform addresses these fundamental concerns and whether it can genuinely offer something that's not just different but better, I'll remain skeptical. After all, in the world of online car auctions, it's not just about entering the race—it's about having the endurance to finish it.

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

This is a beast of a driving machine, meant to blend in at the soccer field. Subtle cues tell you that this is something different when it is parked, but once it is running, there is no mistaking the true intentions of this hot rod SUV. With just over 100k miles, this can present a good value to someone who plans to keep driving this, without fear of adding miles. Bring your preferred fuel credit card and save some money for maintenance, but this is a broken in but clean family hauler that should not disappoint.

Well, we have the second 2019 Bugatti Chiron to be listed on BaT in 2024. The last one was RNM at $3.5M. This one still has 4 days left and the current bid is at $2.85M already. BaT premium auctions are certainly finding notable high value listings. The colors on this are a bit bland, when compared to the earlier listing, and the photos don't really highlight the uniqueness of this special car. As noted in the comments, this does seem like livery from a police cruiser. Personally, I would like to see something a little more unique if I were to spend upwards of $3M.

I really do regret not buying one of these when they were simply used cars. Even in the early years, these held their values or sold above original sticker prices, but it was clear these were destined to be collector cars. As I watched friends drive them on the beach and modify them, it was clear that pristine examples like this would end up being iconic. 

Given the choice between the 6k mile Town Car and this 40k mile Cadillac Brougham, I would be team Caddy. This car is all that my mom's 1979 blue on blue Chevy Caprice Classic wanted to be when it grew up. The cell phone photos on this listing do not do the subtle luxury vibe of this car any justice. The only thing that seems missing is a giant moonroof to stare up into the night sky/city lights as the twinkle above you.