This is gold 🎉 real deep cut into auctions , man the ebay breakdown was a beautiful summary. eBay dropped the ball big time so sketch now. Relisting is hurting all platforms tbh 🤷
eBay as a company is a wonderful case study in how you go from top of the world, not knowing how you got there in the first place, all the way down to trash
I sold a 2011 Boxster Spyder on P-Car this summer via dealtank. Unless there are 2 bidders who have to have a particular car during an auction, I think most buyers know they can make a deal after the auction, thus reducing the actual bidding prices. I chose P-Car b/c I didn't want to deal w/ the BAT peanut gallery picking at my car w/ never any intention of bidding. I got a mkt correct value and was satisfied w/ the effort the P-Car folks did for me.
Really good content - thanks for the explicit numbers. I saw those three Astons on BaT because I have alerts set up for all of those models. The green DB9 Volante had been around a few auctions previously - it was originally purchased by an Oxycontin "pill mill" guy who got indicted, so the Feds seized it and sold it off a while back. I was a buyer of that south of $45k, but given the history I was reluctant to bid higher than that.
A deep dive into the entire internet auction scene would be interesting. It seems to be dominated by dealers people flipping cars. Fees are significant. The venture capital investment in Cars and Bids some years ago was stunning.
The internet auction fees are, in contrast to the physical auctions, quite inexpensive, which is a big component of their incredible growth. And the market in general is dominated by dealers and flippers - it's an incredibly competitive business, and that's not limited to what's on the auction sites. If anything, the auctions have provided a better, more even playing field for private sellers to market their cars alongside dealers, in contrast to the traditional 3rd-party listing sites which cater to their biggest customers which is the large dealers.
Really enjoying this podcast. Thanks guys! With the cannonball background, would you guys ever consider doing an episode about the 1905 Transcontinental auto race? Thanks !
The thing I’ve noticed about eBay is, they seem to be a dumping ground for cars without clean titles. Lots of rebilt/rebuildable or salvage titles offered there. Some are repaired while others are still showing damage.
I absolutely agree with your discussion of high bids representing market value. I would argue that high bids are irrelevant. If you've got a chocolate Lambo then you know the odds of your mark watching every auction everywhere are slim to none. Any website that claims to establish market values is lying to themselves and their customers. I have one customer who doesn't buy and sell cars when it's a full moon. Some folks believe the winter season affects people negatively and therefore affects car prices. The hard truth is that nobody knows what a car is worth, they only know what it's worth to them.
Value is so random. Tens of thousands of people have paid $2500 or more for tickets to see Taylor Swift. I paid $40 to see Pink Floyd in the Astrodome back in the 80's. You couldn't pay me $2500 to sit through 3 hours of Taylor Swift.
So, Tyler. Did you switch from bourbon to James May Gin? God topic guys. Personally I follow P Car Marketplace more often than BaT or cars & bids.Doubtful I'd use any of them. But interesting just to see what some people will spend on cars at auction sites.
Hello Doug. I guess I am a full time listener at this point and I have listened to every podcast you made on Spotify. I actually signed up to Spotify because you guys and not Joe Rogan. My observation and comment is , I believe is it very exciting to listen to you guys talk about cars that are your bread and butter, that are 50k plus and require a certain income to maintain, however just for you and your team to relate to the average listener, would you guys ever consider talking about cars that are more reachable to buy for your average listener. 10k to 30k without crazy mechanics bill attached. Even if you spend 3 minutes talking about values of this segment, I believe your viewers will enjoy it and it might also bring your viewership up as well. Also we are missing Hank.
I listed my 997.2 6Spd S on BaT it bid to 46k reserve not met then went to PCar next week it sold for 55.5k. BaT can be filled with keyboard warriors who ruin the auction with their comments. PCar auctions get little to no comments from what I’ve seen normally just legitimate questions.
I really hope to purchase a Porsche by next year... either a 911, preferably a 930, or a Cayman of some description... don't necessarily want a perfect example, just a mechanically sound one to thrash in the hills near my house...any advice on decent pricing for such an example for either one of those choices?
@switchcars just a solid driver spec, mechanically sound, but the body maybe needs some help? Thanks for responding, love the channel and content...been a fan of yours Doug for many years, world's fastest Mexican if that helps place how long... hahaha...
Our entire population is programmed (mostly by MSM) to believe that there's a direct and singular cause-and-effect for every financial thing that happens. "Stock market is down .001% today because GSP amended their vehicle pursuit policy"
The sight-unseen lowball like the end is always fhe beat time wasted. I was selling a Hyundai Azera years ago asking 8.5k, the cheapest one on Autotrader was around 11k, and I got DOZENS of messages of "3k today. Not overpaying dor a Hyundai". Then why you shopping for a Hyundai? I also had the luxury of selling a 2010 GLK350, I couldn't tell what was worse: 1. Selling a nice Hyundai 2. Selling a cheap Mercedes 😂
This is gold 🎉 real deep cut into auctions , man the ebay breakdown was a beautiful summary. eBay dropped the ball big time so sketch now. Relisting is hurting all platforms tbh 🤷
I wouldn’t spend a dime on ebay at this juncture. Selling anyway.
eBay as a company is a wonderful case study in how you go from top of the world, not knowing how you got there in the first place, all the way down to trash
I sold a 2011 Boxster Spyder on P-Car this summer via dealtank. Unless there are 2 bidders who have to have a particular car during an auction, I think most buyers know they can make a deal after the auction, thus reducing the actual bidding prices. I chose P-Car b/c I didn't want to deal w/ the BAT peanut gallery picking at my car w/ never any intention of bidding. I got a mkt correct value and was satisfied w/ the effort the P-Car folks did for me.
Great feedback, thank you. This sentiment seems to be shared by many regarding the peanut gallery.
Really good content - thanks for the explicit numbers. I saw those three Astons on BaT because I have alerts set up for all of those models. The green DB9 Volante had been around a few auctions previously - it was originally purchased by an Oxycontin "pill mill" guy who got indicted, so the Feds seized it and sold it off a while back. I was a buyer of that south of $45k, but given the history I was reluctant to bid higher than that.
I think everyone was a buyer south of $45k :) That would be one HECK of a deal for a 6-speed DB9 regardless of the history!
A deep dive into the entire internet auction scene would be interesting. It seems to be dominated by dealers people flipping cars. Fees are significant. The venture capital investment in Cars and Bids some years ago was stunning.
The internet auction fees are, in contrast to the physical auctions, quite inexpensive, which is a big component of their incredible growth.
And the market in general is dominated by dealers and flippers - it's an incredibly competitive business, and that's not limited to what's on the auction sites. If anything, the auctions have provided a better, more even playing field for private sellers to market their cars alongside dealers, in contrast to the traditional 3rd-party listing sites which cater to their biggest customers which is the large dealers.
Really enjoying this podcast. Thanks guys!
With the cannonball background, would you guys ever consider doing an episode about the 1905 Transcontinental auto race? Thanks !
Maybe!
The thing I’ve noticed about eBay is, they seem to be a dumping ground for cars without clean titles. Lots of rebilt/rebuildable or salvage titles offered there. Some are repaired while others are still showing damage.
2006 Mitsubishi EVO with 461 original miles and one owner sold on Sunday 12/01/2024 for $161,000
sweet just woke up and a new vdeo sweet
morring and thanks mate
love the video version of the podcast. is it just clips or is there a full version somewhere?
For now the full version is only available on audio podcast platforms
Bring the full video version back
To RUclips
@@Mikeselchow We'll consider it!
@@switchcars pretty please with sugar on top
I absolutely agree with your discussion of high bids representing market value. I would argue that high bids are irrelevant. If you've got a chocolate Lambo then you know the odds of your mark watching every auction everywhere are slim to none. Any website that claims to establish market values is lying to themselves and their customers. I have one customer who doesn't buy and sell cars when it's a full moon. Some folks believe the winter season affects people negatively and therefore affects car prices. The hard truth is that nobody knows what a car is worth, they only know what it's worth to them.
Value is so random. Tens of thousands of people have paid $2500 or more for tickets to see Taylor Swift. I paid $40 to see Pink Floyd in the Astrodome back in the 80's. You couldn't pay me $2500 to sit through 3 hours of Taylor Swift.
So, Tyler. Did you switch from bourbon to James May Gin? God topic guys. Personally I follow P Car Marketplace more often than BaT or cars & bids.Doubtful I'd use any of them. But interesting just to see what some people will spend on cars at auction sites.
Hello Doug. I guess I am a full time listener at this point and I have listened to every podcast you made on Spotify. I actually signed up to Spotify because you guys and not Joe Rogan. My observation and comment is , I believe is it very exciting to listen to you guys talk about cars that are your bread and butter, that are 50k plus and require a certain income to maintain, however just for you and your team to relate to the average listener, would you guys ever consider talking about cars that are more reachable to buy for your average listener. 10k to 30k without crazy mechanics bill attached. Even if you spend 3 minutes talking about values of this segment, I believe your viewers will enjoy it and it might also bring your viewership up as well. Also we are missing Hank.
Thank you for the feedback. This is a great suggestion and we'll address this in an upcoming episode.
I listed my 997.2 6Spd S on BaT it bid to 46k reserve not met then went to PCar next week it sold for 55.5k. BaT can be filled with keyboard warriors who ruin the auction with their comments. PCar auctions get little to no comments from what I’ve seen normally just legitimate questions.
Great point here. Keyboard warriors can be a blessing or a curse.
I really hope to purchase a Porsche by next year... either a 911, preferably a 930, or a Cayman of some description... don't necessarily want a perfect example, just a mechanically sound one to thrash in the hills near my house...any advice on decent pricing for such an example for either one of those choices?
25k-150k depending on….lots of factors 😎
@switchcars just a solid driver spec, mechanically sound, but the body maybe needs some help? Thanks for responding, love the channel and content...been a fan of yours Doug for many years, world's fastest Mexican if that helps place how long... hahaha...
Doug, what’s your favorite weekend brew?
Kombucha. I'm not really a beer drinker
People are still thinking it’s 2020 🤷🏻♂️
People also believe a bad day in the stock market reflects on these auctions and the other way as well
Our entire population is programmed (mostly by MSM) to believe that there's a direct and singular cause-and-effect for every financial thing that happens. "Stock market is down .001% today because GSP amended their vehicle pursuit policy"
the last with the price negotiations... yea I'm seeing that as well. No, I will not sell you a $1500 for $700.
The sight-unseen lowball like the end is always fhe beat time wasted. I was selling a Hyundai Azera years ago asking 8.5k, the cheapest one on Autotrader was around 11k, and I got DOZENS of messages of "3k today. Not overpaying dor a Hyundai". Then why you shopping for a Hyundai? I also had the luxury of selling a 2010 GLK350, I couldn't tell what was worse:
1. Selling a nice Hyundai
2. Selling a cheap Mercedes
😂
Is that original paint or original taint? lmao. 😁
Pcar is terrible
That’s an opinion! We tried to make a judgment based on the results only in this study.
They are great to work with