Quote:
Originally Posted by Cornerlot
I tried recently to submit a non-Porsche, non-Euro, non-stock domestic Hot Rod to BaT. A very high quality piece. They turned it down because it was 'out of their expertise' to predict a selling price. Oh, but they want to list my Porsche. Cherry picking at its best.
Quite a odd business model, turning down potential profit and market expansion in the cause of keeping up appearances. They net a profit of about 1/2 what a brick n mortar live small auction would, but have only a website to maintain.
I doubt that more than 5% of cars listed on eBay actually sell there, but they list 90000 at at time. Not 30 like BaT.
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You are seeing an increasing number of "reserve not met" on BaT -- and they are pretty predictable:
- hot rods: sellers often want what the build cost them, and buyers won't pay that; BaT audience is generally about stock, original cars, not hot rods (except mustangs)
- Mercedes: especially any 90s cars, 70s sedans, or 73-89 SLs. They are just not worth much, and are money pits if rusty. Buyers won't pay the premium sellers want if there is is a reserve.
- kit cars: same as hot rods
- 1930-59 American cars: the market is just not there; more cars than buyers.
The BaT audience likes:
- E30 & 2002 BMWs
- Porsches of all flavors
- VWs
- 60s muscle
- LBCs: triumph, Lotus, MG, Austin Healey, etc.
- All things Italian: Alfas, Maseratis, though Ferraris with reserves don't sell well.
- French cars: Citroens, Renaults -- who knows why.