Bring a Trailer and Cars & Bids Appreciation Thread

[Jersey Skier]

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.

Cars & Bids: Auctions of cool modern cars, trucks, and SUVs

Cars & Bids has daily auctions of cool enthusiast vehicles from the 1980s to the 2020s — like Porsche, BMW, Mercedes-Benz, and more.

carsandbids.com

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

My concern with someone else's garage queen is potential lack of maintenance. Like that one listed has 10k miles, but it's sitting on 14 year old tires.

 

[Philpug]

@Jersey Skier I am not sure if you have done anything yet but...

2001 Audi TT Quattro Roadster - 225-hp TT with 6-Speed Manual and 47,000 Miles

This 2001 Audi TT Quattro Roadster is for sale on Cars & Bids! Auction ends September 8 2020.

carsandbids.com

And it's not too far from you.

 

[Jersey Skier]

@Jersey Skier I am not sure if you have done anything yet but...

2001 Audi TT Quattro Roadster - 225-hp TT with 6-Speed Manual and 47,000 Miles

This 2001 Audi TT Quattro Roadster is for sale on Cars & Bids! Auction ends September 8 2020.

carsandbids.com

And it's not too far from you.

Nothing done yet, but pretty much narrowed it down to a Cayman. My Dr's and wife both give me shit about being in the sun too much already. No need to give me another reason.

 

[Jersey Skier]

After watching the last Cayman sell on BaT seems to reinforce my thought that you'll pay a premium on BaT. Winning price is definitely driven up by all the positive comments.

 

[Muleski]

Not a question in my mind that Cars and Bids is a better site to buy from right now. I have a friend with a car listed there now, and it will sell for a fraction of what it would bring on BaT. However, BaT would not list it. And they reasoning was very, very vague.

If I were selling, and the car was in PERFECT condition, full service records, and particularly if it were somewhat rare, had some special "provenance", or had ridiculously low mileage....No doubt I would head to BaT. I have bid on three cars on BaT, all intended to be daily drivers, and all with a bit of rarity {color, sunroof delete, etc.}. All had, IMO an issue or two to be addressed.

in the comments, there were a small number of questions asked about those issues. By knowledgeable people. However, they were outnumbered 10 to one by those screaming "unicorn", "sure to set a record", etc.

My opinion is that some not that exceptional cars are bringing "ALL the money and more" on BaT.

I chuckle on almost every auction when the invariable "Well bought and well sold" post is made. Well sold, yep. Often I'm seeing nice but certainly not really rare cars selling for 50%, even 100% more than what is probably a realistic price. Some of the cars listed are incredible, and one of a kind. IMO, many more are NOT.

Just takes one buyer. And, yeah, when the peanut gallery stokes the fire......

 

[dbostedo]

Often I'm seeing nice but certainly not really rare cars selling for 50%, even 100% more than what is probably a realistic price.

But of course, those sales now begin to drag up what that realistic price is, unless everyone thinks that they are way too high.

 

[Muleski]

But of course, those sales now begin to drag up what that realistic price is, unless everyone thinks that they are way too high.

I don't think that is necessarily the case. I have a number of friends who are serious collectors. One has 40-50 cars, some worth $1Mil plus. I don't believe that people feel that BaT is setting the market. I'm looking for a car right now, and not one seller, or one car broker has mentioned BaT as the market maker.

There are a LOT of cars, like the Cayman mentioned above, that can be acquired for a fraction of some of the BaT high water marks. I've heard other friends pretty much bragging about "how high I had to go" to buy a car on BaT, a better example probably being available elsewhere for 35% less.

The words that hear attributed to some of their auctions are "uninformed" and "irrational." It is an EASY way to buy {as well as sell} and as we know there is a segment of the population that has a lot of money. I'm a fan of Landcruiser. I have one now, have owned six over the years. My brother has three. It's safe to say we know the market, and a few of the best authorities on the brand. There have been some sold at fair prices, some at "deal" prices, and over the past few months some sold at prices that guys who have made their living with the cars/trucks feel are just nuts. Nobody is resetting the market for FJ80's based on BaT sales, to my understanding.

Now, at the same time, there are are cars that I believe BaT has helped in terms of people realizing that they might be undervalued. Many. If I wanted a sedan, I would be all over a mint BMW 540i with a six speed, as one example. Some have sold on BaT, and I believe that folks think "that car looks like a real value."

I have owed a business that was run on the reverse auction platform developed by Ariba. No question whatsoever that it drove incredible results, in this case for our buyer clients. The suppliers who competed for the sales and deals became totally emotional and often irrational in their "need" to compete and win. Emotion plays a giant role in a live auction. And with BaT, there are no geographic issues.....it's right there, on line.

Very interesting to watch, has been since it launched.

 

[Philpug]

Right now BaT is a sellers market and B&C is a buyers market. The tough part with the latter is for how long will sellers be willing to move a car at any price? It is a chicken/egg scenario. BaT is starting to suffer from Ebay syndrome, more and more dealers/flippers coming on. Such as you can search by "No Reserve" or "Premium", I think you should be able to seach my "Dealer". With the amount of cars BaT is turning away, I could see them start their own "Classified" section, $49 to list the car, and maybe a 4% buyers fee, they can offer a BIN price or "Make offer". If the sale doesn't meet reserve, they they can move it to the classified for a discounted rate.

 

[scott43]

BaT is not what it was intended to be.. It turned to shit just like everything else where people try to monetize the crap out of everything.

 

[Philpug]

BaT is not what it was intended to be.. It turned to shit just like everything else where people try to monetize the crap out of everything.

I don't it's that bad but it is in the danger of being a victim of their own success.

 

[dbostedo]

BaT is not what it was intended to be.. It turned to shit just like everything else where people try to monetize the crap out of everything.

Intended to be? I would assume it was always intended to make as much money as possible. That may have been done, in part, on the message or perception that that's not what it was about at first. But I'd guess it always was. Doesn't mean it's turned to shit - it's just business.

 

[DanoT]

So, for the entrepreneurial auto enthusiast it is buy on C&B and then sell on BaT , at least for now. It will end with the inevitable growth in popularity of Doug DeMuro and his still very young Cars & Bids and this will surely drive up the bids on Cars & Bids.

 

[ScotsSkier]

Not a question in my mind that Cars and Bids is a better site to buy from right now. I have a friend with a car listed there now, and it will sell for a fraction of what it would bring on BaT. However, BaT would not list it. And they reasoning was very, very vague.

.......
Just takes one buyer. And, yeah, when the peanut gallery stokes the fire......

Right now BaT is a sellers market and B&C is a buyers market. The tough part with the latter is for how long will sellers be willing to move a car at any price? ......

I'm not convinced that C&B is really much better. I was following an M3 convertible and the bidding just became stupid..... 70+ bids and it went to over dealer money.... Just one data point but in my limited looks at it I haven't seen too many screaming deals......YMMV

 

[Muleski]

Interesting, SS. And not surprising.

I have bot really dug into C&B in much detail. I had two friends text me about two cars on C&B, and I was surprised that they were not listed on BaT. BaT would not list them. Which surprised us all.

I’d assume that prices on C&B will increase, and we may see more “regular” sports and performance cars listed there. I have heard of various plans under discussion with respect to BaT, since their sale. Would not be surprised to see them crushing the high end market even more, and seeing improvements to their platform, along with fees creeping up. I think they are really taking business from the car auction houses in big numbers.

BaT’s origin, and name comes from looking at barn finds, car marts, and vehicles that were not drivable...hence, bring your trailer. The first friend of mine who bought on BaT did in fact buy a car that was close to a basket case. A TR3, in Oklahoma. Quite obviously a change.

I’m watching a friend of our son’s sell a car on C&B right now. I am very curious about how the end result will work out. There is the “reasonable” figure in my mind. The range below that which is a real deal. And then, the open space above reasonable. This is a good, not perfect car. It is a driver.

On BaT, I could foresee the peanut gallery that follows every single Audi or BMW auction chiming in about what a one of a kind unicorn it is, and hyping the daylights out of it. And pushing the price to at least 50% higher that most would think is a fair price.

I don’t know if that is happening yet on C&B. I think it will as more people follow it. And as more young impressionable fans do. My 15 year old nephew lives on BaT, and is all over C&B, now. Not a great source of insight. But he has 1000 plus posts on BaT.

It’s interesting. If C&B has enough people playing, emotion comes into play, and prices rise.

Supply, ease of buying and selling, market reach, and a touch of emotion/competition.

As I say, good entertainment!

 

[dbostedo]

I'm curious where this one will land in 4 days... any chance it hits $1,000,000?

1963 Aston Martin DB5

Bid for the chance to own a 1963 Aston Martin DB5 at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #36,043.

bringatrailer.com

 

[Muleski]

I'm curious where this one will land in 4 days... any chance it hits $1,000,000?

1963 Aston Martin DB5

Bid for the chance to own a 1963 Aston Martin DB5 at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #36,043.

bringatrailer.com

This car sold, I think a year ago, for about $650K. Some luxury dealers and brokers feel that the market at the very high end is stronger than it was pre-COVID. Others feel that it has taken a hit.

I’m not connected to anybody who is in the Aston-Martin world, but it sounds like there maybe be some questions about the car. I can’t guess at what.

I bet there is a reserve on it, higher than their purchase price. Might be a high one. $750K?

At this point, I bet we see a surge in bidding. I would be floored if it goes for more than that range. I think that $1Mil is rarified air for these cars. Some discussion in the comments on BaT about it.

Interesting one to watch. Closes mid day tonorrow, I think.

 

[noncrazycanuck]

Nothing done yet, but pretty much narrowed it down to a Cayman. My Dr's and wife both give me shit about being in the sun too much already. No need to give me another reason.

skis fit inside the Quattro TT coupe but not in the RWD Cayman, and old guys always look better when you can't see them if you want another reason , just saying.

 

[Muleski]

A-M DB5 sold.....$745K. I assume thd buyer and his “team” knew their suff. That’s alotta money!

 

[dbostedo]

A-M DB5 sold.....$745K. I assume thd buyer and his “team” knew their suff. That’s alotta money!

Not quite the million I was hoping for, but definitely significant.

 

[Philpug]

1964 Cadillac Coupe DeVille

Bid for the chance to own a 1964 Cadillac Coupe DeVille at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #36,694.

bringatrailer.com

We had this exact car when I was a kid. We had a good friend that was well placed in the Genovese family...until he wasn't. My dad wanted to be a made man, a goodfella so bad but our friend wouldn't let him. The closest he made it was to get a Coupe D'Ville just like this one. He drove it around like he was a big shot, stogie in his mouth and a fedora on his head.