Just got the latest edition of Octane - they have a page for the classic car market sales... BaT is obviously killing it both up market and down.
There's no arguing with success - BaT
- Thread starter tferrer
- Start date
probably b/c BAT has a max of $5k in fees (for the buyer; $99 for seller); unlike typical auction houses where buyers and sellers often have to pay 10% EACH!
The BUYER'S FEE (5% of the purchase price up to $5,000 maximum) is secured by the buyer's credit card...not the purchase price. BaT keeps the buyer's fee even if the buyer backs out of the purchase.
The buyer can back out if he/she desires to. They lose the buyers fee and are banned for life from BaT.
Indeed.... From a couple young enthusiasts to worldwide domination! And considering what they actually sold for, Hearst has done extremely well..
Do you know what they sold for? I hope Howard had an equity stake and got a nice reward. PM me.
there is a reason that Hemmings is working hard to steal (capture) some market share from BaT.
I see a comparison with eBay and other on line auction venues, however. Once you have the critical mass (like eBay and BaT have), it's very difficult to be truly competitive with a "me too" offering.
i hear you ... although i haven't seen the great cars sell on ebay in quite a while ... like they do on BaT. if Hemmings can gain some traction they can increase their footing ... with the lag time in getting your car on BaT ... i see a potential opening for a 'me too' company with a history such as Hemmings.
It all comes down to curation. Especially pre-Hearst ownership. They turned lots of cars away. I think a lot of this curation was done by Howard Swig, who ran their auctions. The cars were interesting. And the comments were interesting. My friend Mike Baum always has some pertinent info to add on vintage Alfas, Lancias, and anything by Zagato. And there are dozens and dozens of commenters who specialize in various makes.
They have become a little less interesting. But still great.
Scott
Doug DeMuro is trying to repeat this model with www.carsandbids.com
He is concentrating on 1980 and later cars (ie - 17 digit VIN's).
He is getting some interesting cars - but don't know how he is doing other than I see an increasing number of cars being listed there (over time).
He is concentrating on 1980 and later cars (ie - 17 digit VIN's).
He is getting some interesting cars - but don't know how he is doing other than I see an increasing number of cars being listed there (over time).
Are all of the vehicle descriptions in the following format?
The ____ (year, car and model) is the ____ (choose one: best, most awesome, luxuriousest, least underrated vehicle of 1993 - 1995) that about 35 years from now will be the way ____ (choose one: cars, trucks, SUVs, amphicars) used to be
this just in - Hagerty has just jumped in the online auction business.
I'm still surprised that Hagerty, RM or Goodings weren't wooing Randy instead of Hearst!