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Bring a Trailer and Cars & Bids Appreciation Thread

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Philpug

Philpug

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BaT, with it's simple platform and reach, coupled with their very reasonable fees for really high end cars, is just crushing the more established car auction houses. At one point it surprised me that they had not yet sold out one. Not now. They were acquired by Hearst Autos, the group that owns Road and track as well as Car and Driver, in June. Sounds like they are going to fuel it as needed. They have created quite a machine. They had no need to sell, other than to keep growing. Founders are still on board. I bet they had plenty of suitors.
I didn't know they sold...why would they sell? Talk abut a simple platform that really just prints money. We had this discussion a year or two ago. The offer had to be redicuously good. I am glad that Mechum or Barret/Jackson didn't get them, this keeps up a level of competition. I will be interested in how Bidsandcars.com comes, Doug is a great face for it. seeing the seed money that was offered initially to sellers $1000/500, he has someone seriously investing in the site. Should be interesting

Dollar for dollar, pretty hard to beat a Miata. Right, @Philpug ?
IMHO, NA Miatas are still undervalued compared to other Asian cars from the era (Honda/Acuras are on the high side). NB Miatas are starting to climb. NC's are still the deal if you want a driver for value, just a handful have shown up on BaT. NA/NB's are better pure Miata's NC's are a bit more antiseptic in feel but better and faster in every aspect. ND's are still dropping and the best of all worlds.
 

Muleski

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I know ZERO about the terms, in tetms of whether they sold 100% of it. I doubt that. I would assume that a couple of PE firms are in there.
It did hear that the buyer felt that BaT had a huge following, and that the “platform was more than transactional”, and could grow in a few directions.

Still, I’m surprised. They could, I guess, have easily funded any tech improvements that they needed. Their presence is all on their own site, and probably more so on IG.

Sure agree that they have been printing money. I think PP and I did thr simple math on it.

Now....today....the average sale is much higher, and they have so many active auctions. Just looked. The usual 300+.
That’s a lot of cash.

My hunch is that fees will go up. And I bet we’ll see more of “a community” formed on line.

Very interesting to follow......
 

doc

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Kinda wish BaT would stick to cars, but recently they're auctioning more things like (Porsche) wheels, Recaro wing back seats and old school Chris Craft boats.
I get it that branching out into more subject matter could be lucrative for BaT, but less interesting for people like me.
 
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Philpug

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Kinda wish BaT would stick to cars, but recently they're auctioning more things like (Porsche) wheels, Recaro wing back seats and old school Chris Craft boats.
I get it that branching out into more subject matter could be lucrative for BaT, but less interesting for people like me.
and a ton of Honda Trail 70 minibikes.
 

Muleski

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If it’s profitable, and the new owners like the strategic plan presented to them, the results will follow the investment. It’s privong to be a platform that yields great prices for happy sellers....and perceived value for buyers. Think the fees for the upper end vehicles will start to creep up?

Might we see some segmentation? Antiques, classics, American, etc.?

Just guessing. They must be looking at growing more, faster. I’d think.

On a personal note, my grandfather had a 1929 3 cockpit mahogoney bright work Chris Craft. My parents at one point owned a Riva. So, I may be one of the few who likes the boats. The classics.....
 

Muleski

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Meant to add that one of my relatives has two BMW bikes, a R80ST, and a R80 G/S, botu low mileage and mint, and a bit over a year ago BaT turned them down. Another relative bought a perfect 328xi wagon, manual, great color and very nicely set up. BaT did not like that one. The new owner spent over a year searching for one.
 

Ogg

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Kinda wish BaT would stick to cars, but recently they're auctioning more things like (Porsche) wheels, Recaro wing back seats and old school Chris Craft boats.
I get it that branching out into more subject matter could be lucrative for BaT, but less interesting for people like me.
Bringaboattrailer.com :duck:
 
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Philpug

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Man, trucks are drawing big money...$35K and 6 days to go!
1997_ford_f250_4x4_xlt_1598326739363e2feIMG_1903.jpg


Edit: Looking at the bid history. I am not sure the high bidder at $35K realized how the bidding on BaT works...I think he thought he was putting a max bid in at the $35K.

Double Edit: Looking at his history, he knew exactly what he is doing. He paid 80K for a Land Cruiser. It looks like he is a very calculated buyer. He bids once, what he is willing to spend and if he wins it, great, if not, no biggy.

 
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Jersey Skier

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I've been watching this one, but it will go for more than I want to spend. I'm guessing low to mid 30's. But they are talking it up good.

2006_porsche_cayman_s_15965796787dff9f98764da2006_porsche_cayman_s_1596579677f66e7dff9f98764da...jpg


 

bbinder

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I think that this is a $30,000 car max. And I would upgrade the IMS bearing immediately. If I was in the market, I would not pay over $27,000. Plus, if I am reading the listing correctly, the car is sitting on original tires. So, you’d need to replace them right away.
 

Jersey Skier

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I think that this is a $30,000 car max. And I would upgrade the IMS bearing immediately. If I was in the market, I would not pay over $27,000. Plus, if I am reading the listing correctly, the car is sitting on original tires. So, you’d need to replace them right away.

From what I've read less than 5% of these have the IMS bearing issue. Tires have to go. I'm trying to stay closer to $25k anyway, but the color is nice. There is a low mileage 09 near me that was just listed at a local dealer. I have some customers who work there, so I need to speak to them. 09's don't have the IMS at all.
 

Ogg

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Man, trucks are drawing big money...$35K and 6 days to go!
1997_ford_f250_4x4_xlt_1598326739363e2feIMG_1903.jpg


Edit: Looking at the bid history. I am not sure the high bidder at $35K realized how the bidding on BaT works...I think he thought he was putting a max bid in at the $35K.

Double Edit: Looking at his history, he knew exactly what he is doing. He paid 80K for a Land Cruiser. It looks like he is a very calculated buyer. He bids once, what he is willing to spend and if he wins it, great, if not, no biggy.

The bidder probably thinks that their time is more valuable so not having to watch the auction is worth overpaying a few(or even tens of) thousand for something they want.
 
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Philpug

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The bidder probably thinks that their time is more valuable so not having to watch the auction is worth overpaying a few(or even tens of) thousand for something they want.
And looking at some of the cars he has bid on and their values...I can see that.
 

bbinder

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From what I've read less than 5% of these have the IMS bearing issue. Tires have to go. I'm trying to stay closer to $25k anyway, but the color is nice. There is a low mileage 09 near me that was just listed at a local dealer. I have some customers who work there, so I need to speak to them. 09's don't have the IMS at all.
There a new engine starting in 2009 for 911, Boxters, and Caymans. It is often referred to as a DFI engine. It has no IMS bearing. The first generation 997 and Caymans (and Boxters) also had bore scoring as a low risk issue. The IMS issue is rare, but when it occurs it is catastrophic. Some feel that it is potentially more of an issue with low mileage cars (= less use). Upgrading the bearing is always a good idea. Many people with the IMS cars will cut open And examine the oil filter at oil changes - finding metal shavings is a sign of impending failure. The first generation base Cayman should go in the low 20s and might approach the teens In price. Having an S designation adds on about 5k to the price. The second generation cars (2009-2012) usually sell at a premium because of less perceived problems. I know more than a couple of people that blew up the engine in their first generation Cayman. If you have never driven a Porsche, you won’t miss the extra features and a base car will more than satisfy. But if you are going to track the car or auto cross the car, then you want the S, if only for the fact that it is easier to change brake pads. Ask me how I know... Finally a higher mileage car will go for less money because of, well, higher mileage. But a well cared for car with 60,000 miles will drive as well as a new car. Yeah: higher miles means more wear and tear and more potential maintenance. But I will argue that you are looking at replacing parts also because of age and regardless (or should I say irregardless...) of the miles on the car.
 
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Philpug

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Man, trucks are drawing big money...$35K and 6 days to go!
1997_ford_f250_4x4_xlt_1598326739363e2feIMG_1903.jpg


Edit: Looking at the bid history. I am not sure the high bidder at $35K realized how the bidding on BaT works...I think he thought he was putting a max bid in at the $35K.

Double Edit: Looking at his history, he knew exactly what he is doing. He paid 80K for a Land Cruiser. It looks like he is a very calculated buyer. He bids once, what he is willing to spend and if he wins it, great, if not, no biggy.

I priced out the 2020 version of this truck as close as I could and it is only in the mid $40k's, with the usual discounts would bring it down under $40K with 0% financing not much more than this one...

Yes, this has a cool factor and a nostalgic appeal, I shouldn't be looking at it logicly though. Must stop.
 

OnEdge

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bbinder speaks the truth. With the 987 I would strongly suggest 2nd generation, largely because of IMS. And the 987 Cayman R is one of my all time favorites.
 

doc

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Only an hour and a half left to pick up a 500 mile 2019 Ferrari 488 Pista with 710/568 hp/torque. Comes with battery tender.
Only $410k for this widow maker.
 

pais alto

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For the haters ogwink. I’m following this one, and hoping I can get it for around $15k. :roflmao:

So cool.
 

DanoT

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No interest in a garage queen. Not sure it will ever see a garage. Strictly something fun for use. I need my Suburban every day and the other cars in the house don't thrill me. It'll basically be a free car until something breaks.
The sweetest deal, imo is when you can find a low mileage garage queen at a reasonable price and then turn it into your like new daily driver. Cars and Bids has a sweet MR2 as well as V6 Miata.

As a new auction site, Cars and Bids' following is still growing so there might be less competition or bids per car.
 
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