In yesterday's poll, I asked if you were interested in viewing 'Sell-Through Rates'. A whopping 96% of you said yes, so without further ado, here they are!

One statistic from yesterday that jumps out is the remarkable 93% sell-through rate achieved by Cars & Bids. Out of the 31 listings they presented, only two remained unsold. What's their formula for consistently reaching such high sell-through rates? What sets them apart?

While these figures must undoubtedly be a cause for celebration for them, the question remains: Can they maintain this momentum? I'm not suggesting they achieve a 100% sales rate, although that'd be commendable. Rather, could they list 40 cars and still achieve a sell-through rate of 80% or more?

I'm betting they can. Let's continue to watch together…

14-Mile 2021 Ford GT ’66 Heritage Edition  

Sold: $1,385,000 on Bring A Trailer

This Ford GT is more than just a car; it's a salute to racing heritage, a beacon of design and performance. Celebrating the 55th anniversary of Ford’s iconic victory at the Daytona 24 Hour Continental, this car carries a legacy on its sleek shoulders.

Design & Aesthetics:
Cloaked in a pristine Frozen White, with striking black and red racing stripes, it's a blend of history and modern design. The butterfly doors hint at a futuristic aesthetic, while the retractable active rear wing pays homage to racing lineage.

 Performance:
Beneath its hood lies a symphony of power—a Twin-Turbocharged 3.5-Liter EcoBoost V6 engine. The roar of its Akrapovič Titanium Exhaust System resonates with authority, and its 7-Speed Dual-Clutch Automatic Transaxle promises an exhilarating drive.

 Nevada's Gem:
Having briefly roamed the streets of Henderson, Nevada, this Ford GT, with its limited mileage, has tasted the desert winds and shimmered under the neon aura of Las Vegas.

 Luxurious Interior:
The interior beckons with the deep red allure of Alcantara upholstery. The fixed Sparco seats, with their carbon-fiber shells, cradle you in luxury, echoing tales of racetrack triumphs.

A Testament to Timelessness:
The sale price of $1,385,000 closely mirrors a sale price of the same car for $1,451,000 from March. Has the market gone very very slightly chilly on this model or will the next sale be closer to $1.5m?

 1997 Porsche 993 Cup 3.8 RSR

A beacon of racing lineage, this Porsche 993 Cup 3.8 RSR encapsulates the final evolution of race cars tracing their roots back to 1973. As the last air-cooled, naturally aspirated 911 race car birthed from Porsche's esteemed Weissach motorsports department, its significance in automotive history is undeniable.

Design & Heritage:
Draped in a pristine Snow White (Firnweiss), this gem stands as one of the mere 45 examples ever crafted. Its design nods to the 993 GT2 model with riveted GRP fender flares and incorporates elements from the 993 Carrera Cup with its "Clubsport" spoilers. The race-ready cockpit boasts a Matter roll cage, Recaro racing seats, and a mere 6,300 kilometers on its odometer.

 Performance & Engineering:
At its heart is the European-spec 3.8-liter M64/75 engine, a powerhouse optimized for endurance races and pushing out a commendable 340 HP. Paired with an M50/34 close-ratio 6-speed manual transaxle, it promises an unmatched racing experience.

Provenance & Care:
Initially gracing the streets of Tokyo, it was later acquired by none other than Jerry Seinfeld, who imported it to the U.S. in 2015. Since 2016, this RSR has been part of a world-class Porsche collection, a testament to its pristine condition and undeniable allure.

Market Dynamics:
Yesterday the RSR saw the highest bid of $861,000 on PCarMarket. While the car is now listed with an ambitious price tag of $1.1 million, one could argue the previous bid was a fair reflection of the market's sentiment. That's not to diminish the car's grandeur; it's a fabulous machine, but market evaluations are ever-evolving. The current bid, in my opinion, aligns well with the broader market trends.

This Porsche 993 Cup 3.8 RSR is undeniably a piece of motoring history, and its value, both historical and monetary, remains a subject of passionate debate among enthusiasts. What do you think?

Kudos to Sotheby’s Motorsport for marking their debut with the sale of the magnificent 2022 Ferrari SF90 Spider, fetching a cool $775,000 .

For a full deep dive into how this platform stands from the rest of the market, read my post here.

It was a strategic masterstroke for them to kick off with a No Reserve auction for such an iconic car, a testament to their deep-rooted industry connections. Showcasing the car during Monterey week? Pure marketing genius.

However, the road ahead might be bumpy. With upcoming listings set with reserves and the platform's hefty fees (details in this post), it remains to be seen how buyers will respond.

A minor observation: Their initial pitch claimed sales would range between $100K-$1M. How do they intend to uphold this? While many auctions commence at $100K, a few are starting as low as $60K. Perhaps they're banking on the final bid numbers to align within their stated range. But let's be real—if a bid north of $1M comes their way, would they really decline?

Time will tell. Stay tuned, as I'll return with insights on their progress in a week.

Hagerty's Emergence in 2023

Hagerty, as a new platform, has made its mark in the car sales industry since its inception at the start of 2023. Let's delve into some numbers that depict their journey:

Total Sales: Over the course of these months, Hagerty successfully facilitated the sale of 156 cars.

Average Sale Price: The average sale price on the platform stands at approximately $40K. This suggests to me a mix of both premium and budget-friendly offerings catering to a diverse range of buyers.

Top vs Bottom Sale: The most expensive car was sold for a whopping $285,000, while the most budget-friendly pick went for just $4,350. The wide range in sale prices highlights the platform's versatility in catering to various customer segments.

Popular Choices: The Chevrolet make emerged as the crowd favorite among buyers, with the Corvette model taking the lead in model popularity. Such trends offer insights into market preferences and can guide future inventory decisions.

Growth Over Time: Analyzing the monthly sales and total sold price trends, it's evident that Hagerty has seen peaks, notably around April and July, signifying strategic successes and potentially targeted campaigns during these times.

This summary encapsulates the growth and achievements of Hagerty in 2023. The platform's diverse offerings and consistent sales figures paint a promising picture for its future in the car sales industry.

The question I have for them and probably what they are looking to achieve themselves is listing and selling more than 2-3 vehicles a day, which is what they are currently doing. Let’s take a look at some of the stats.

The line chart illustrates the monthly sales trend for the year 2023:

• The number of cars sold started off moderately in January and saw a significant increase in February & March.

• Post-March, there was a decline in sales until around April, after which sales picked up again.

• The highest number of sales occurred in June, after which there was a gradual decrease.

• The months of July through August show a stable number of sales.

From the chart above, we can infer:

1. The majority of cars are sold in the lower price range, with a peak below $50,000.

2. As the price increases, the number of cars sold diminishes, indicating fewer high-priced cars are sold compared to those in the lower and mid-price ranges.

3. There are a few cars in the very high-price range, but they are rare compared to the more affordable options.

Here’s a breakdown month by month of the sale prices.

1. The majority of the cars sold across all months fall into the $0-$49,999 price range, indicating that vehicles in this range are the most popular among buyers.

2. Cars priced between $50k-$99,999 are the next most popular, although their sales volume is notably lower than the first price range.

3. Sales of cars in the $100k-$500k price range are relatively rare, with only a few months showcasing sales in this bracket.

4. There were no sales YET for cars priced >$500k in the months displayed.

Observations:

• The majority of cars sold fall within the range of the late 1960s to the early 2000s.

• There's a peak around the mid-1960s, indicating that classic cars from this era are quite popular.

• More recent years (post-2010) show a relatively lower number of sales, suggesting that Hagerty are currently more focused on older or classic vehicles.

From the chart, we can observe that Chevrolet is the most popular car make sold followed closely by Ford with all others trailing behind.

For those who frequently follow my insights, you're aware of my penchant for delving into the finer details. The chart above showcases the leading models in popularity, with Corvette and Mustang unsurprisingly clinching the top two spots.

Here you can easily see which makes were the most popular in sales for each month based on the height and color of the bars. In January they sold just two cars, a 1994 Mazda MX-5 Miata and a 2006 Porsche 911. Will their growth continue?

This chart provides valuable insights into the evolution of a platform over time. Notably, all of Hagerty's top 10 sales occurred in the recent three months. While they have been transacting higher-priced cars, the average sale price for the past two months is only marginally higher than the yearly average.

Earlier in the year, Hagerty wasn't recording many sales above $100k, but recently, they've consistently achieved a couple of such sales every month. It will be intriguing to observe how these sales trends unfold in the upcoming months

Finally the fans favorite chart is here and I’ve purposely left Saturday & Sunday on the chart as regular readers will know that I’ve been pushing the narrative of platforms selling cars over the weekend.