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, Hemmings and many others did not sell 5 cars yesterday!

Yesterday was quite the day, sales-wise. I had a feeling we'd see some big numbers, and sure enough, we did. But here's the kicker: we didn't hit that elusive $10m mark, which, by the way, I haven't seen happen since I started writing The Daily Vroom. A few of the pricier cars fell short of their reserves.

All in all, the market wrapped up with sales just north of $8.6m, and BaT was the star player, raking in a cool $6.3m of that total. I also have to a give a little hats off to PCarMarket who sold 3 out of their 8 listings, all of which were six -figure Porsche’s.

Of course the star auction of the day was the 2005 Porsche Carrera GT sale for $1,781,420. The auction had over 70,000 views, which is more than some TV shows!

Click on the image to be taken directly to the listing.

2017 Lamborghini Aventador LP750-4 SV Roadster $557,000

2022 Dodge Challenger SRT Hellcat Redeye C68 Carbon $295,000

2014 Lamborghini Gallardo LP560-2 50th Anniversario 6-Speed $285,560

2000 Ford Mustang SVT Cobra R $153,000

Yesterday, we saw a bit of drama unfold with two Ford GTs failing to sell. It's kind of wild seeing so many of these hit the auction block, especially given that only 4,038 were ever made.

First up was a 2005 Ford GT, stripe-free with what's considered 'high' mileage at 17k, topping out at $300k. Most Ford GTs are garage queens, so this mileage did likely nudge the price down a bit. In my eyes, this one was slightly underpriced, but not by a huge margin.

Then there was the 2006 Ford GT with just 966 miles under its belt, fetching a final bid of $408,000. For context, a similar spec sold last month for $427,000, but that one had only 607 miles on it.

Diving into the comments section, which is a major rabbit hole, the seller of the second GT was clearly miffed, both with the sale price and the peanut gallery in the comments. Here’s a snippet of what he had to say: "It’s funny to me that some people have nothing better to do but sit around making comments on other people's cars when their bidder history shows they have never bought a car on BAT or some have never even bid on a car on BAT but yet they are the experts of everybody else’s car and their value. But if people look closely, us true collectors and buyers never have anything to say but good comment, great advice, and very professional comments. AND WE BID AND BUY CARS. it’s truly a shame BAT allows this useless comment platform for people that don’t bid or buy anything."

I get where he's coming from, to be honest. But that's BaT for you. When you list there, you know what you're getting into: a mix of insightful gems and the complete opposite in the comments.

I'd say the price was a bit on the low side, in line with recent trends. But honestly, it's not too far off the current market rate for such a car.

With the $1.7m sale yesterday, I had no choice but to take a mini deep dive into the sale prices of the 2005 Porsche Carrera GT, examining online auction data from January right up to yesterday.

Observing the chart above, there's a noticeable downtrend in the sale prices from June 2022 until just recently. Before jumping to conclusions about a market dip during that period and its recent recovery, I'm going to explore if this trend correlates with other factors.

I’ve taken a closer look at how mileage impacts the sale prices of the 2005 Porsche Carrera GT and tossed in a twist – the auction platforms. Here's what I found:

NOTE: You can ignore the R² nerdy stuff below, the explanation next to it is what counts!

1. Mileage Matters... Big Time! Our analysis reveals a clear trend: lower mileage Carrera GTs command higher prices. With an R² value of 0.67, it's evident that around 67% of the price variance is due to mileage differences. Fewer miles mean more bucks!

2. Auction Platforms Add Color: We compared sales across the different platforms that sold the Carrera GT 'Bring a Trailer,' 'PCarMarket,' and 'Collecting Cars.' Each platform had its unique pricing pattern, adding an intriguing layer to our analysis.

3. Visual Feast: Our custom scatter plot is more than just pretty – it's informative. Color-coded markers represent different auction platforms, revealing how each platform fares in this mileage vs. price saga.

4. Insights Galore: Cars sold on 'Bring a Trailer' generally fetched higher prices, particularly for lower mileage beauties. 'PCarMarket' and 'Collecting Cars' also showed strong showings but with slight variations.

5. Bottom Line: If you're hunting for a 2005 Porsche Carrera GT, mileage is a key price factor. But don't overlook where it's being sold – the auction platform can be a price influencer!

Back by popular demand from yesterday's edition, I've included a bonus chart for you all. This time, I focused on which regions have the most robust sales. Interestingly, while the West region shows a denser volume of sales, it's the Midwest that takes the crown for the highest average sale price.