💰 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.

The online auction market continues to demonstrate remarkable strength, with yesterday marking the second consecutive Monday of above-average performance. Total sales approached an impressive $6.5 million, underscoring the robust demand across various price segments.

Key Highlights:

• Average Sale Value: $42,000, aligning closely with typical daily averages

• Market Diversity: Significant activity observed across all price ranges

• Sweet Spot: Highest transaction volume concentrated in the $10,000 - $40,000 range

Our market analysis reveals an intriguing pattern: there's relatively little difference in sales volume between the entry-level segment (0-$5,000) and the luxury tier ($100,000+). This balance illustrates the market's ability to cater to a wide array of buyers and sellers, from those dealing in affordable everyday items to collectors and enthusiasts trading high-value pieces.

However, the true engine of the online market lies in the middle range. The $10,000 - $40,000 bracket is where we're seeing the most traction, indicating a sweet spot that balances value and accessibility for a large portion of our user base.

The 2011 Porsche 911 GT2 RS is nothing short of a marvel. With only 500 units produced, this car combines exclusivity, power, and engineering excellence in one sleek package. The specific example that recently hit the auction block, #412, is a stunner—black on black, featuring all the right specs, and with just 7k miles on the clock. Presented immaculately by the seller, it seemed like a no-brainer that this car would fetch top dollar. Yet, the auction closed with a high bid of $608,997, and the car didn’t sell. So, what gives?

Firstly, let’s talk price. It’s a bit of a head-scratcher why the perceived value of the GT2 RS can sometimes seem lower compared to its sibling, the GT3 RS. However, when you factor in the GT2 RS’s smaller production numbers and beefier power output, the math should tilt in its favor. The $608k high bid was undoubtedly substantial, but it’s clear that it wasn’t enough for this particular seller. Given the exclusivity and capabilities of the GT2 RS, it wouldn’t be surprising to see it hit $700k or more in another auction. Just because this car didn't sell here and now doesn’t mean that’s its market value—the right buyer just wasn't in the room.

Speaking of buyers, let's remember that when you're dealing with cars priced over $500k, you're fishing in a small pond. Not everyone in this niche market is glued to Bring a Trailer, as shocking as that might sound! Some potential buyers might not have even been aware of this listing or might prefer different platforms or purchasing methods. The market for these high-end machines is finicky and unpredictable; sometimes, the stars just don’t align.

There’s also the consideration that sometimes, it’s about waiting for the right moment. The seller shouldn't rush to unload this masterpiece just because it didn't sell this time. Tomorrow’s a new day, and this GT2 RS is now showcased to a wide audience, who know where to find it and how to contact the seller. It’s now a tantalizing "shop window" piece, visible to all those who might be contemplating a purchase. In a way, the auction was a brilliant advertisement.

Finally, there's the possibility, albeit a slim one, that a final offer deal could still materialize. While I doubt it in this case, I'm happy to be proven wrong. The seller has the leverage to negotiate and might secure the deal they’re looking for outside the conventional auction setting.

Well, folks, we're seeing some interesting shifts in our market landscape. SOMO has been making quite a statement lately, and yesterday they really flexed their muscles by claiming two of the top three sales spots. But this isn't just a flash in the pan - we've been noticing SOMO's name popping up more frequently in our top 5 sales over the past few months.

This steady climb is a testament to what's possible with a clear, well-executed strategy. And it's a bit of a wake-up call for some of the other players (hint hint, SBX).

Let's rewind to last year when SOMO first entered the scene. Their launch was... well, let's call it "shaky." But what's truly impressive is how they've turned things around. They didn't just accept the status quo. Instead, they methodically addressed their weak points.

They made swift, incremental improvements to their platform. They brought in top-notch talent with some very smart hiring moves. And perhaps most crucially, they laser-focused on a clear strategy, carefully curating the types of vehicles they list.

The result? SOMO has transformed from a wobbly newcomer to a consistent top performer. They're not playing the volume game - you won't see them flooding the market with dozens of daily listings. But they're proving that with the right approach, you don't always need to.

This success story is reshaping our market dynamics. It's a powerful reminder that in our industry, success isn't just about quantity. It's about having a clear vision, being adaptable, and truly understanding your niche.

SOMO's journey from a rocky start to regularly hitting the top sales charts shows what's possible in our ever-evolving market. It's a clear signal that with the right strategy and execution, any player can make significant waves.

As we move forward, it'll be fascinating to see if other auction houses follow suit, potentially shifting towards more focused, high-value approaches. My hope is that others follow the right path for themselves. As we've seen so many times in this industry, success isn't about trying to be the next Bring a Trailer (BaT). The real key is for platforms to find and stay in their own lane. SOMO's recent success is a perfect example of this principle in action.

They're not trying to mimic BaT or any other established player. Instead, they've carved out their own niche, focusing on their strengths and tailoring their approach to their specific audience. This strategy is clearly paying off, and it's a reminder of an important truth in our market: there's room for diverse approaches and multiple success stories.

Personally, I'm hopeful that we'll see all platforms find their footing and achieve success in their own unique ways. A thriving, diverse market benefits everyone - from buyers and sellers to the platforms themselves. It fosters innovation, provides more options for consumers, and ultimately drives the entire industry forward. Plus the added benefit is I get to write about it all. 😀

As we continue to watch SOMO's ascent and the evolving strategies of other players, let's remember that the goal isn't to crown a single winner, but to create a vibrant, multifaceted marketplace where various approaches can flourish. Here's to the continued growth and success of all players in our dynamic online auction world!

Want to dive deeper into any of these listings? Just click on the car to take you directly to the listing. Trust me, some of these are worth a closer look.

In yesterday's newsletter, we delved into the unexpected closure of Marqued, the auction platform launched by Porsche Digital Inc. As we explored the factors behind this surprising development, we turned to you, our astute readers, for your insights. We posed a simple yet profound question: Why do you think Marqued failed?

Your responses were as illuminating as they were diverse, but a common thread emerged. The consensus among our community is that Marqued's downfall wasn't due to a single misstep, but rather a series of stumbles across various aspects of their operation. Most notably, many of you pointed out a glaring issue: the apparent lack of a clear, cohesive strategy.

This perceived absence of direction seems to have impacted multiple facets of Marqued's business, from their market positioning to their operational execution. It's a stark reminder of the critical importance of a well-defined strategy in the competitive landscape of online auctions.

Let's dive into some of your thought-provoking comments. Here's a selection that captures the range of perspectives you shared: