The Truth Behind SBX Cars' $6M Veneno 'Record' Sale

PLUS: The Incredible $477k Charity Auction...

The Daily Vroom

Morning, Vroom Fam!

The response to our sit-down with 'hows' has been amazing - seems like y'all loved getting that insider look at how he builds such a rock-solid reputation and connection with buyers. Major props for the feedback!

We'll definitely be bringing more of those candid seller interviews your way in the coming weeks and months. If there's someone in particular you're dying to hear from, hit me up and let me know.

Alright, now let's dive into the wild action that went down yesterday. There's a lotttt to unpack, so buckle up and get ready to read all about it.

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+ cars in the chart below.

Yesterday, we witnessed a bumper day with $8.9m worth of vehicles being sold. As you can see from the table above, BaT sold a massive 110 vehicles, one of the highest numbers they've ever sold in a single day. Their average sale price was $60k, amounting to an impressive $6.6m in total sales for the day.

I firmly believe they can maintain and even surpass this on a regular basis. Now that they've dipped their toes into the European market, once they are fully immersed, there’s no limit to the number of vehicles they can find, auction off, and most importantly, sell. It’s quite exciting, especially as an outsider, to see where they can go from here.

Not to leave others out, Collecting Cars continues to sell high-priced vehicles regularly, and Cars & Bids are consistently selling at the other end of the market, with an average sale of $20k yesterday. As I’ve said before, they should double down on what they excel at and let that be their niche. But that’s a discussion for another day.

YESTERDAY’S TOP 5 SALES

To view each listing, please click on the cars. See my take below.

1989 Lamborghini Countach 25th Anniversary $501,000

2006 Ford GT For Charity $477,000

2022 Ferrari SF90 Spider $466,000

2018 Ferrari 812 Superfast $342,000

1993 Ferrari 512 TR $320,000

Summary & Incredible Charitable Contribution

You know it’s been an incredibly successful day when the 'cheapest' of the top 5 sales is $320,000. Another strong showing for Ferrari, but the real star of the show was the 2006 Ford GT that sold for $477,000. What makes this sale extra special is that every cent, including the BaT fee, is going to two charities. This has to be one of the most heartwarming charitable moves I’ve seen.

The charities benefitting from this generous sale are Snowline Hospice and PBS KVIE. Snowline Hospice is a community-based nonprofit hospice agency serving Sacramento, Placer, and El Dorado, California. They are a 4-star Medicare-designated operation dedicated to bringing peace and dignity through life’s transitions by providing comfort, care, and support to those in need. PBS KVIE, on the other hand, is a Public Broadcasting Service in Northern California, inspiring people to explore the world and connect with their community through the integrity of public media.

The seller, GTAuto, handled the sale on behalf of the donor. Charity auctions always have a special place in my heart, but this one is a true standout. While the sale didn’t break any records, the price is certainly above average for online auctions.

How amazing must it feel for BaT to host an auction like this, knowing the community will rally with bids and ultimately make the sale, all while shining a spotlight on two wonderful charities. Big kudos to them!

SBX Cars Sells $6M Veneno - Online Auction Record Claim Needs an Asterisk

Huge kudos to SBX Cars for selling that insane 2015 Lamborghini Veneno Roadster for a cool $6 million! They're shouting from the rooftops that it's a "world record auction sale" saying it "leapfrogged the 2017 Ferrari LaFerrari Aperta, which previously sold at online auction for US$5,360,000 in 2022." But is it?

As anyone in this game knows, successfully shifting any car is a battle, let alone getting $6 million for one! So I've got to hand it to SBX, that's an epic achievement. With their 5% fee and no cap, we're talking a $300k payday - not too shabby for a day's hustle! Though I hear they had to negotiate down to less than half that, which is still an absolute killing compared to the $7,500 max fee Bring a Trailer charges.

That's why their business model could be an absolute game-changer if they keep landing and closing these insane listings. And for anyone thinking this $6m sale might be fake news, trust me, I know it's a legit sale.

But here's the thing that's got me side-eyeing their "world record" claim for "the most valuable car ever transacted via an online-only auction platform." That phrasing is somewhat disingenuous, let me break it down.

While it did beat that crazy LaFerrari sale number, that car actually sold during the live auction. This Veneno? It was a private sale finalized after the auction ended with the highest bidder. Clever wordsmithing for sure, but it doesn't quite compute.

Truth is, I've got no clue how many of these kinda private, post-auction sales go down on other platforms. Is it really any different from a sale through a private broker? Impossible to know since they only report the public auction figures.

So look, congrats to SBX, no doubt it's exciting they can pull off monster sales like this. They probably don't give a rat's ass whether it sold during or after the auction as long as they bag a six-figure commission! Plus the hype of claiming this "record" is free marketing when they go courting other whales to sell their rides.

But let's be real, until they legitimately sell one of these hypercars during their live auction and dethrone that LaFerrari number, it doesn't count as the true online auction record in my book. I'll buy the first round when that day comes! For now though, still an epic $6 million sale to celebrate.

Do you consider SBX Cars' $6M sale of the Lamborghini Veneno Roadster to be the new world record for the most valuable car sold via an online-only auction platform?

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Auction of the Day: One-Owner 1971 Mercedes 280SE 4-Speed Manual

With only 5 days left, this stunning 1971 Mercedes-Benz 280SE is a true gem deserving of your attention. A single-family ownership from new, this gorgeous European delivery example has been cherished for the duration of its life.

Finished in an elegant Light Ivory over a luxurious Cognac MB-Tex interior, it's a well-preserved beauty. But it's not just a trailer queen - this 280SE is also a proper driver's car with its numbers-matching 2.8L inline-six and crisp 4-speed manual gearbox.

For the Mercedes enthusiast seeking a ultra-clean, one-owner W108 with the thrill of a stick shift, this 280SE checks every box.

It's a special car representing a lifetime of memories for its owner. As the auction winds down over the next 5 days, take a moment to appreciate this 4-speed gem. When's the last time you saw such an unmolested, stick-shift Mercedes in this condition?

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