BAT might be bad for classic cars?

Let me start off by saying I'm totally a free-market guy and BringATrailer.com certainly increases market efficiency, in the classic sense.

With that said, I think overall it might be bad for the classic car hobby. I've noticed an alarming trend of cars, admittedly nice cars, being sold in one day for huge money amid a flurry of interest. Back when locating a special car involved a bit more searching, it meant that the buyers were usually folks who *really* wanted the cars and had to put in the work to find it. I can help but wonder if the crop of buyers isn't crowding out the less-well-heeled enthusiasts and what that might mean in the long-run.

 

You may be right. I have said for years that Barrett Jackson has ruined the Muscle car market. The money they are selling clones and non original cars for is insane. Now every numbskull with a basket case Chevelle in a barn wants $15,000.

 

I may have missed your point but over the last few years claasic car costs have dropped a bunch.

I am sure there have been big bucks for "special" cars but on balance the hobby has become more afordable. I am not sure why economy or the young folks do not like old cllasic cars.

It got so cheap at Mecum and barrett Jackson I am up to 14 cars. Also thanks to hagerty for great and reasonable insurance.

Lee

 

Welcome to the new economy scooby!

But not to worry; when those buyers get tired of their purchase, it will go right back on BaT for that guy who *really* wanted it.

As for the "folks who *really * wanted it", why didn't they find it and buy it before it got to BaT? BaT is just another avenue of discovery, just like the net, and mags, and Hemmings, and CL, and the classifieds, and and and.....You can level the same charge against almost
any of them...Not seeing a real *new* problem here.

 

LOL! "But really dear; it was so cheap! I had to buy it (them/the rest of them)".
Does that still work for you? ;-)

 

I personally have not seen BaT influence the market. They do a good job of highlighting interesting cars that usually have interesting stories, which is what makes them pricey. Really good deals never make the site anymore, and are perhaps passed on to interested parties in exchange for a fee. In addition, their commissions are quite low when compared to other dealers. That's how all brokers make money, so I don't have an issue with that.

It's important to note that just because BaT features an immaculate car for $30,000 on their site, that does not mean that a beat-up example is now worth $20,000. The market, in my view, is now getting better at recognizing the cost of restoration, and we are seeing a bigger separation between great examples, and run-of-the-mill ones.

 

I have no interest at all in using BaT as a tool for finding cars for sale. To me it's just a place to read about interesting old cars that have "popped out the woodwork". I don't really care if they're junkers or jewels, as long as there is a story behind them.

 

^^^What Jeff said.

I really look forward to the daily email, almost always worth a look.

 

Also, the comments section is a treasure trove of good info on the particular cars. There are some really knowledgeable guys commenting on there, and they might help you with a future purchase, or finding another example of a car already sold...

 

I think its a cool website, although I don't visit often.

By the way, there are lots of cool little cars out there for cheap, they may not be rare, but they are fun.

I own several 944's, a few $K buys one, enjoyable little car. Will they be worth a lot later? I dunno, don't care, I enjoy the little buggers, and I can afford them, so thats all that matters. If I couldn't, I'd find something else...lots of cars for lots of different budgets.

 

Just as a coincidence, the 1965 Lancia Fulvia 2C Sedan that I sold 20 years ago was listed yesterday on Bring A Trailer.

 

Per the ad...there are only 4 of those in the US.

 

ha ha ha.... welcome to the age of the internet: so, also, Craigslist is bad for the car hobby? Also, F-chat must be bad.... It's a site that posts ads. People will pay what they want.

 

It might create a bubble, but long term it is not going to hurt things.

 

hey tritone!

remember the days we would just drive around and snoop?? an abarth here, a 550 porsche there, a 450 maser hidden in a body shop....tom mead's thomissima sitting in a garage just a few miles away....the mid engine birdcage the guy couldn't give away....getting old i guess....

 

Loved those back alley snoops! Unfortunately, those cars we used to find sitting in shops in east San Jose, and carports in Menlo Park, trading Spyder for a Speedster, are now found at RM Auctions in Monaco and Monterey for $X million dollars....yes, the times have indeed changed...and BaT doesn't much go there, so we're still *somewhat* safe.

 

So back then, those were the cars of what, 20-30 years ago? There are plenty of cheap 80's and 90's cars around you know...