MARKET LEADERBOARD

💰 The figures shared below don’t count any other sales such as car seats, memorabilia etc..

I only include websites that have sold 5+ cars in the chart below. Which means Hagerty, PCarMarket and many others did not sell 5 cars yesterday!

Friday turned out to be a rather calm day in the auction market, with only three platforms making it to our leaderboard. Despite the limited sales activity, the total sales amount still averaged at a solid $5.4 million.

Building on this, there's an interesting shift in the weekend dynamics that caught my attention. For the first time in my recollection, the total dollar value of sales over the weekend, encompassing both Saturday and Sunday, amounted to $5.1 million. Surprisingly, this lower total occurred even though a greater number of cars were sold over the weekend. It's a departure from the norm since I started monitoring weekend sales, despite the fact that only a few companies participate in weekend auctions.

If you haven't already delved into the in-depth analysis of weekday versus weekend sales, I highly recommend giving it a read. There's valuable insight to be gained from it.

Before we dive into the November stats, I want to circle back to the buzz from last Friday's post.

So, here's the scoop: I shared a snippet from a seller who had a bit of a rough go with his Ford GT at auction. Long story short, he wasn't exactly thrilled with some of the commentary from the non-bidders. And guess what? The poll results were neck and neck! I popped the question to you all: What do you make of the seller's gripes about the auction vibes and bidder behavior on platforms like BaT? Well, 55% of you sided with the seller, saying his frustrations were on the money.

Now, let's peek at some of the responses (and sorry I can't shout out to everyone – there's just a ton).

For those who might be new to our monthly updates, I want to make it clear that we primarily focus on online auctions here. Physical auctions, although they have their merits, don't seem to be where the future is headed. Yes, they serve various purposes, but it's evident that the true market pulse is online. That's why you see many traditional auction houses trying to grab a piece of the online action.

Now, let's get straight to the point. You've probably heard the gloomy rumors circulating in the market – a slump in sales, sky-high interest rates, and the fear that the well of opportunities is drying up. It's undeniable that interest rates have reached new heights, and if you look at the sell-through rates, they've plummeted a bit over the past six months.

But here's the surprising twist – while the pessimists have been busy predicting doom and gloom, our data tells a completely different tale. In the realm of online auctions, we're not merely surviving; we're thriving. Just last month, we witnessed a remarkable surge, with over 4,300 sales, surpassing the numbers from October by more than 100 vehicles. That's right, despite the market's unpredictable fluctuations, collectors and enthusiasts are keeping the digital auction gavel swinging, resulting in a staggering total transaction value of $173.5 million in October – an impressive $5 million increase from the previous month.

So, to those who've been spreading negativity, I have a clear message: Online auctions aren't just here to stay; they're leading the way.

Stick with us because we're not just observing the market; we're right at its beating heart.

In September and October, we witnessed just two sales surpassing the million-dollar mark each month. However, November was a game-changer, as we saw an impressive total of six such high-value sales. The crown jewel of the year came from Collecting Cars, with the 1997 Ferrari F50 fetching a staggering £2,940,500 (that's $3.6 million!). Now, the question on everyone's mind is, will December manage to outdo this remarkable achievement? (3 days in no $1m sales yet)

Now, when we break down the platforms responsible for selling the top 100 most expensive cars, here's how they stack up:

• Collecting Cars: They claimed 16% of the top spots.

• Bring a Trailer: An overwhelming 73% of these high-value cars found new owners on their platform.

• Catawiki: They accounted for a modest 2% of the top 100 sales.

• Cars & Bids: They secured 4% of the spotlight.

• PCarMarket: Not to be overlooked, they contributed 5% to the top 100 sales.

Understanding the Price Range of Popular Car Makes Sold at Auction

In our latest auction data (my new favorite chart), we’ve visualized how the prices of cars from the most popular makes compare. Think of each make like a brand of car, like Ford or Ferrari.

Here's what the chart with the boxes and lines shows us:

• Boxes (The Thick Part): Each box represents most cars sold by a brand. The top and bottom of the box show the higher and lower price ranges where many cars are sold. A tall box means there's a big difference between the pricier and more affordable cars of that brand. A short box means most cars of that brand sell for around the same price.

• Middle Line in the Box: This is the middle price for each brand's cars. It's not the average but the price that's right in the center, with half the cars selling for more and half for less.

• Lines (or "Whiskers") Above and Below the Boxes: These lines stretch out to show the very expensive or very affordable sales that don’t happen as often. They give us an idea of the full range of prices for each brand. For example BMW sold a car (1981 BMW 733i) for below $1k.

• Dots: Sometimes, you'll see dots way above or below the rest. These are the surprises — cars that sold for way more or way less than we'd expect. For example we see two dots above the $1m for Porsche.

This chart helps us see not only which car brands tend to be more expensive but also how much prices can vary within each brand. It's a snapshot of the car auction market, showing us where the deals are and where the collectors might be spending a bit more for something special.

Both of these charts exhibit a striking resemblance at first glance. However, it's crucial to take note of a significant difference in the second chart – the sales revenue, which represents the total value of vehicles sold during auctions, is distinct from the first chart.

Now, let's momentarily set aside Bring a Trailer, the undeniable market leader. In the category of the number of cars sold, Cars & Bids secured the second position. Meanwhile, when it comes to the total value of vehicles sold, Collecting Cars took the runner-up spot. To sum it all up, BaT achieved sales amounting to $112 million, Collecting Cars reached just over $26 million, Cars & Bids recorded $13 million, Car & Classic $7m and PCarMarket performed admirably with a total of $5.4 million in sales.

Below are the top five selling makes on each of the top 5 selling platforms in November. I’ve also added the average sale price for each of the makes.

The most popular decades for vehicle sales last month were the 2000s, closely followed by the 90s. The 70s managed to edge out the 80s as well. To gain a better understanding for my writing, it would be beneficial to identify the specific year within the 2000s that was the most popular.

Going deeper into the data, we can pinpoint that the year 2007 stood out as the most favored among the vehicles sold. Among these 2007 vehicles, the Mercedes-Benz model took the lead, closely followed by Porsche. Now, let's take a closer look at the top-selling Mercedes-Benz, which was sold for $40k, and that is just below the average price of $43k of all vehicles sold in November.

I don’t think there’s any surprises here on the makes or models that are the most popular. Really the only stat the stands out to me (it may be something else for you) is that the 911 is still so far and out the most popular make, even in the supposed down market which we are NOT in.

Rather than analyze every single make/model. I’ve picked the top 3 of the month to have a closer look at.

First up, the 3-Series – this chart's a bit of a roller coaster, showing some real ups and downs in prices day by day. It's like every other day, the market's changing its mind.

Now, moving on to the Corvette, we're seeing a more steady line. The prices are pretty consistent, but there are a few spikes that catch the eye. It seems like on certain days, those Corvettes just hit a sweet spot in price.

So, there you have it – a quick rundown of these charts. The takeaway? November was a month of fluctuating prices, with each car model showing its unique trend. The 3-Series had its ups and downs, the Corvette kept it more or less steady, and the 911 was on a wild ride with its prices.

Oops the title is a little bit cut off!

The above chart is a comparison from October to November to give you more context on the state of the market for these top 3 models.

Of course, it's important to remember that within each model like the BMW 3 Series, Porsche 911, and Chevrolet Corvette, there are various sub-models and editions which can significantly impact their sale prices. So, this analysis isn't an exact science by any means, but it does provide a useful indication of the general pricing trends for these models.

From the data we've examined, it's clear that the market for these cars is definitely not dying. In fact, the average sale prices for the BMW 3 Series and Porsche 911 were higher in November compared to October, indicating a robust interest and potentially a stronger market demand. Although the Chevrolet Corvette saw a slight decrease in its average sale price in November, the prices remain quite healthy, underlining the enduring appeal of these models.

These insights, while not exhaustive, give us a glimpse into the dynamics of the car market for these popular models. It shows that enthusiasts and collectors continue to value these vehicles with no slowing down in either the number of vehicles sold or in some cases with the prices rising.