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☆ Classic car auction site Bring a Trailer's sales hit record $1.4 billion even as prices drop
▼ + stars: | 2024-01-16 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Total auction sales of classic cars (for both online and live auctions) fell 3% last year to $4.19 billion from $4.32 billion in 2022, according to data from Classic.com. The growth in the number of cars sold helped to offset a decline in prices. The average price of a car sold on the site fell to $54,000 in 2023 from $59,500 in 2022. Bring a Trailer's sales increased about 2% last year to over $1.4 billion from $1.35 billion in 2022, according to the company's CEO Randy Nonnenberg. Bring a Trailer sold over 30,000 cars in 2023, up 19% from 2022.

Persons: Randy Nonnenberg, Nonnenberg, Sellers, Pagani Organizations: CNBC, Ferraris, Ferrari, Porsche, Porsche Carrera, BAT Locations: —

After graduating from Stanford University in 2000 with a degree in mechanical engineering, he worked at BMW by day and went treasure hunting at night, sifting through online car listings to discover hidden gems. He was so fanatical that Gentry Underwood, an entrepreneur and his college friend, suggested that he turn his private recommendations public. They founded a blog in 2007 as an excuse to hang out more.

☆ Why some cars from the 1990s are soaring in value
▼ + stars: | 2023-01-16 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +8 min

CNN —Not that long ago, cars from the 1990s were just used cars. In addition to insuring collectible cars, Hagerty also owns the auction company Broad Arrow. Values for 1990s-era collectible cars have risen by an average of 78% over the past three years, “which is huge,” Rabold said. Cars from the ’90s have at least some modern comfort and safety features, and even relatively inexpensive cars can have respectable power and performance. We’re talking about “collectible” cars.

☆ Online car market Bring a Trailer closing out year with record $1.35 billion in sales
▼ + stars: | 2022-12-23 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

Online car market Bring a Trailer said it expects to close out the year with a record $1.35 billion in sales, as a new generation of collectors logged on to buy classic and pre-owned cars. Randy Nonnenberg, Bring a Trailer's president and co-founder, told CNBC that sales for the year are up 63% from 2021, when sales hit $829 million. The question now is whether the pandemic-fueled frenzy of car collecting will hold up if there is a recession. Nonnenberg said he sees no evidence of a slowdown in the company's business. Hagerty, the classic-car insurance company, also entered the auction business, buying Broad Arrow and launching Hagerty Marketplace, an online sales platform.

☆ Decade-old Tesla Roadsters are selling for over $100,000 as Elon Musk's earliest cars become hot collectibles
▼ + stars: | 2022-10-22 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

Now Tesla's earliest cars are becoming hot collectibles, skyrocketing in price in recent years as Elon Musk's empire has exploded. Tesla made roughly 2,450 Roadsters between 2008 and 2012, selling them for around $100,000 and up. A 2011 Tesla Roadster 2.5 Sport that sold in January for $190,000. In January, a 2011 Roadster Sport sold for $190,000. A 2011 Tesla Roadster 2.5 Sport.

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