[DeTomaso] Comments or options on Bring a Trailer

[Julian Kift]

If you look at the BaT statistics, there were two Pantera's that sold for $127k & $132k, another 8 that sold (or were bid to, but RNM) between $70 - $91k, most in the mid 80's.  What we don't know about the two high points is what the actual reserve may have been, it might easily have been $84k! What happens is owners emotionally attached to their cars (obviously to a $ point) see that high point and think their car should now be worth that and want to test the market with zero risk. But the cross section of the market supports BaT's thinking on average value, what changes that is two bidders who want the same car and willing to pay for it.

The BaT model is to take cars at a reserve that will sell as their skinny approach on fees doesn't allow for a lot of Reserve Not Met auctions and they do not relist the no sales. The platform has really taken off so I'm sure they can also afford to pick and choose. Like the two cars that sold at high points on BaT or the recent B-J sales, owners have to go into it with the courage and conviction that the market (at least two bidders) will recognize the value of your car.

Julian

________________________________
From: DeTomaso <detomaso-bounces at server.detomasolist.com> on behalf of Steven Edwards <gsedwards at cox.net>
Sent: Thursday, April 1, 2021 6:16 AM
To: detomaso at server.detomasolist.com <detomaso at server.detomasolist.com>
Subject: [DeTomaso] Comments or options on Bring a Trailer

I watched a 73 orange Pantera on Bring a Trailer go for good money, a nice car. I restored a 73 that is equal to or, in my opinion, a little better. So I thought that it would be time to try to
sell the 73 for it’s owner. It seems that there were more than one person interested in that type of car. A time to strike. I applied to BaT and summitted some pictures and a writeup.
That has been over a month, they have replied with questions some were just trivial things, and wanting more info. The last email they wanted to lower the reserve to $84K saying the market was slow.
After seeing what happened to the 72, I am at a lost now as to what is going on, especially watching B-J last week with it’s very high prices for vehicles I would consider much lower.
Just wondering what are the inputs from the group, what Pantera prices are and were are they going, and BaT  in general.

Steven Edwards



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-------------- next part --------------
   If you look at the BaT statistics, there were two Pantera's that sold
   for $127k & $132k, another 8 that sold (or were bid to, but RNM)
   between $70 - $91k, most in the mid 80's.  What we don't know about the
   two high points is what the actual reserve may have been, it might
   easily have been $84k! What happens is owners emotionally attached to
   their cars (obviously to a $ point) see that high point and think their
   car should now be worth that and want to test the market with zero
   risk. But the cross section of the market supports BaT's thinking on
   average value, what changes that is two bidders who want the same car
   and willing to pay for it.

   The BaT model is to take cars at a reserve that will sell as their
   skinny approach on fees doesn't allow for a lot of Reserve Not Met
   auctions and they do not relist the no sales. The platform has really
   taken off so I'm sure they can also afford to pick and choose. Like the
   two cars that sold at high points on BaT or the recent B-J sales,
   owners have to go into it with the courage and conviction that the
   market (at least two bidders) will recognize the value of your car.

   Julian
     __________________________________________________________________

   From: DeTomaso <detomaso-bounces at server.detomasolist.com> on behalf of
   Steven Edwards <gsedwards at cox.net>
   Sent: Thursday, April 1, 2021 6:16 AM
   To: detomaso at server.detomasolist.com <detomaso at server.detomasolist.com>
   Subject: [DeTomaso] Comments or options on Bring a Trailer

   I watched a 73 orange Pantera on Bring a Trailer go for good money, a
   nice car. I restored a 73 that is equal to or, in my opinion, a little
   better. So I thought that it would be time to try to
   sell the 73 for it's owner. It seems that there were more than one
   person interested in that type of car. A time to strike. I applied to
   BaT and summitted some pictures and a writeup.
   That has been over a month, they have replied with questions some were
   just trivial things, and wanting more info. The last email they wanted
   to lower the reserve to $84K saying the market was slow.
   After seeing what happened to the 72, I am at a lost now as to what is
   going on, especially watching B-J last week with it's very high prices
   for vehicles I would consider much lower.
   Just wondering what are the inputs from the group, what Pantera prices
   are and were are they going, and BaT  in general.
   Steven Edwards
   --
   This email has been checked for viruses by AVG.
   [1]https://www.avg.com

References

   1. https://www.avg.com/