The Daily Vroom

Good morning, Vroomers!

Yesterday was a wild one. With news of the Cars & Bids layoffs making waves, there’s been plenty of chatter—both online and off. I’ve got a follow-up for you below, and some news: Daniel Harman, the new CEO of Cars & Bids, has kindly agreed to an interview with us next month.

If you’ve got burning questions for him, send them my way, and I’ll add them to the list. Looking forward to getting some real answers.

YESTERDAY’S TOP 5 SALES

Want to dive deeper into any of these listings? Just click on the car to take you directly to the listing.

Auctions To Keep An Eye On

The Renault R5 Turbo 2 is unhinged in all the right ways—a mid-engine, turbocharged, rally-bred missile with enough boost lag to keep you on your toes and enough presence to stop traffic. It’s the kind of car that makes every drive feel like a stage in the Tour de Corse.

This one’s the real deal—Metallic White, ~42K miles, U.S.-titled, and fresh off a $29K overhaul covering everything that matters. A few tweaks, but nothing that kills the essence. It’s raw, mechanical, and totally unapologetic.

Forget polished supercars—this is the kind of machine that gets respect from people who know. I love it.

This isn’t just an E36 M3 Evo; it’s a High Mileage Hero, a machine that’s lived a life most garage queens could only dream of.

Bought new by a judge in 1998, this M3 racked up 332,500 miles—likely covering countless cross-country courtroom runs, every turn of the odometer backed by meticulous, law-abiding maintenance. A three-inch-thick binder of service records? That’s more plot twists than a legal thriller.

Still running its original drivetrain, this M3 defies the notion that performance cars need to be pampered. It’s proof that when built right—and cared for properly—a BMW M car isn’t just fast; it’s bulletproof. The Boston Green over Tan spec, Vader seats, and factory Style 24 wheels make it a proper time capsule, yet one that’s anything but fragile.

Is it the highest-mileage E36 M3 ever? Maybe. But more importantly, it’s a testament to what these cars were meant to do—be driven. This one’s got stories to tell, and thousands of miles left in the tank.

The Monteverdi High Speed 375 L is the kind of car that makes you stop and say, wait, what is that? A Swiss grand tourer with Italian styling and a big American V8 under the hood—it’s rare, it’s gorgeous, and it’s got presence for days.

Powered by a 440ci Chrysler Magnum V8, this thing has 375 horsepower and 480 lb-ft of torque, wrapped in Fissore’s sleek, hand-built body. It spent years in the Monteverdi Museum, and now it’s back, freshly refinished in a deep green that suits its low-slung elegance.

Monteverdi built cars for those who wanted Ferrari flair with Mercedes comfort—effortless speed, wrapped in exclusivity. You won’t see another one at your local cars and coffee. Hell, you might not see another one anywhere.

The 2021 Mercedes-AMG E63 S Wagon is everything right about modern performance cars—big power, big space, and absolutely zero compromises. It’s a 603-hp twin-turbo V8 family hauler that can obliterate most sports cars while carrying a Costco run in the back.

This one’s finished in Designo Brilliant Blue Magno, which might just be one of the best colors AMG offers. Inside, you’ve got Nappa leather, carbon trim, massaging seats, and enough tech to make a spaceship jealous. And, of course, it’s got drift mode—because who doesn’t want to slide a wagon?

It’s unmodified, well-optioned, and the mileage is right. A few small cosmetic flaws, but nothing that matters when you’re launching from a stoplight and making excuses to take the long way home. If you want the perfect blend of ridiculous and practical, this is it.

The Cars & Bids Situation: What You Said & What’s Next

Yesterday, I didn’t just ask a poll—I laid out here what’s going on at C&B and the possible solutions as I see it.

The response? Our biggest poll yet. And the results were clear—most of you think the path forward is either expanding into vintage cars or Doug buying the platform back!

But beyond the numbers, the comments were even more revealing. People have strong opinions on C&B, its future, and Doug himself.

Below the poll results are a selection of your comments.

The Latest Layoff Fallout

Since yesterday’s update, I’ve spoken to more people with inside knowledge. The layoffs weren’t just about sales and marketing—operations, HR, and accounting were also hit hard. What was once a team of around 35 people is now just over 10. Hopefully those that lost their job can find a new one quickly. (continue to reach out to me if you need help finding a job).

The big question: How do you maintain service levels—let alone grow—with that kind of cut?

This industry runs on relationships. It’s one thing to automate processes, but you can’t automate trust. And now, I’m hearing that a few dealers are thinking about pulling their listings. I hope they don’t, but it’s understandable—uncertainty isn’t great for business.

That said, from speaking to those who left, it’s clear C&B had some really strong people on the team. And to be fair, they still do. There are undoubtedly great people still working there who want to see it succeed. But with such a lean operation, it’s going to be a challenge to keep up the same level of service. Just looking at the auctions that ended yesterday, it very early days, but the hustle factor hasn’t left them with the sale of this 1982 Ferrari 308 GTSi after the auction ended.

Private Equity: The Last Chance Saloon?

At the time of The Chernin Group’s $37 million investment, it probably looked like a smart bet. Listings were on the rise, online auctions were booming, and Bring a Trailer had just been valued at $1 billion. It was a land grab, and C&B had a strong brand, great momentum, and a niche approach that differentiated it from BaT.

But hindsight is a wonderful thing.

Like most private equity plays, there are risks. The expectation was clear—scale fast, drive up revenue, and position for a big exit. But it just hasn’t worked out as planned.

Now, they’re looking for a way out.

But here’s the thing—this isn’t a dead end.

PE firms exist to make money, and they still can. This might be the last chance saloon, but there’s a way forward—if they’re clever, strategic, and willing to execute.

There’s still a lot of goodwill for C&B. Sellers, dealers, and buyers haven’t written them off yet. They still have an engaged audience. They still have brand equity. And most importantly, they still have good people working there.

But it comes down to execution.

As I said yesterday, they need to get their hands dirty. No more just hoping digital strategy alone will fix things. They need to think analog with digital.

• Meet the sellers. Shake hands. Show up in person.

• Host local events. Even small, low-cost ones can go a long way.

• Build deeper relationships. This industry is built on trust, not just algorithms.

They need to get their feet in the grass across the country and make Cars & Bids feel real to the community.

Online Auctions Are Still Growing—And They’ll Keep Growing

I’ve heard people say, “Online auctions peaked in 2021.” Maybe prices peaked—but the market? Not even close.

I wrote back in January about the underlying numbers being positive for online auctions vs. live auctions—and that trend is still playing out. Online continues to take more and more of the market.

And as with any industry, new players will keep coming in—some with different spins on how to market cars, some with new business models, and some who might push the space in unexpected directions. There are the same but different battles going on in the live auction market. Just look at Broad Arrow vs RM Sotheby’s which is a whole article in itself!!

First-Mover Advantage Is Overrated

There’s a common belief that first-mover advantage is everything—that once a company establishes itself as the leader, it’s impossible to catch up. And sure, being first can help. But history shows that second movers often take over.

• Facebook wasn’t the first social network. MySpace was.

• Netflix wasn’t the first in home entertainment. Blockbuster had a stranglehold on the market.

• Android wasn’t the first mobile OS. BlackBerry and Nokia were dominant before it came along.

The reality is that C&B (and any other player) doesn’t need to “beat” Bring a Trailer. They just need to focus on what actually works.

The worst mistake any company can make is obsessing over the market leader instead of playing to their strengths and innovating where they can.

And C&B does have strengths. They’ve got the brand. They’ve got an engaged audience. They’ve got a platform that works. The goal shouldn’t be to “dethrone” BaT—it should be to grow in a way that makes sense for them.

50+ listings a day isn’t out of reach for them, although today it might seem like a huge leap. And from there? Who knows.

They still have the brand, the audience, and the opportunity. Whether they make the right moves from here—we’ll all be watching.