Reserve Not Mets on BaT

[Rick Brooklyn]

Totally anecdotal, but I think over the past few days I noticed a lot of RNMs among the auctions I follow on BaT. Which would make sense as all assets have been repricing for weeks (Stocks, Bonds, Crypto). Still anecdotally, that seems to be the case more for the 5 figure cars than for the bigger tickets, which would also make sense - Joe Schmoe who's been YOLOing stocks is going to pull back long before the multimillionaire.

But I was wondering if anyone here might be systematically tracking the results of all BaT auctions and might be able to confirm whether this intuition of increasing RNMs might be correct.

[NYNick]

Originally Posted by Rick Brooklyn

Totally anecdotal, but I think over the past few days I noticed a lot of RNMs among the auctions I follow on BaT. Which would make sense as all assets have been repricing for weeks (Stocks, Bonds, Crypto). Still anecdotally, that seems to be the case more for the 5 figure cars than for the bigger tickets, which would also make sense - Joe Schmoe who's been YOLOing stocks is going to pull back long before the multimillionaire.

But I was wondering if anyone here might be systematically tracking the results of all BaT auctions and might be able to confirm whether this intuition of increasing RNMs might be correct.

Stock market has been horrendous. Certainly enough to make people nervous. Billions of paper gains and values have been eliminated from peoples portfolios. RE has slowed down and balance sheets adjusted. It only makes sense big ticket purchases will follow.

[Coblue]

The crypto-coin plunge hasn't helped.

[techweenie]

As one of the people with an auction that closed in the last couple days, I've noticed the dropoff in enthusiastic bids, and I think a lot of talk about 'recession' has helped the stock market drop influence Porsche market caution.

A nice looking 71 S coupe sold earlier in the week for $185K, and although it had a long list of cosmetic issues, still had the 911r 'glamour' presentation, and a few months ago, would have touched $200K.

Our Pelican friend Bob didn't reach his goal with his pretty 76 Euro Carrera.

My auction for a 3.2-powered LWB 912 coupe fell short of expectations, and I'm a bit concerned my current auction for an 'enhanced' 84 Carrera may meet the same fate.

But things may turn around next week. Overall economic signs are sill positive.

[speedster911]

Originally Posted by techweenie

As one of the people with an auction that closed in the last couple days, I've noticed the dropoff in enthusiastic bids, and I think a lot of talk about 'recession' has helped the stock market drop influence Porsche market caution.

A nice looking 71 S coupe sold earlier in the week for $185K, and although it had a long list of cosmetic issues, still had the 911r 'glamour' presentation, and a few months ago, would have touched $200K.

Our Pelican friend Bob didn't reach his goal with his pretty 76 Euro Carrera.

My auction for a 3.2-powered LWB 912 coupe fell short of expectations, and I'm a bit concerned my current auction for an 'enhanced' 84 Carrera may meet the same fate.

But things may turn around next week. Overall economic signs are sill positive.

Are we seeing a 10% pull back from previous highs??

Different pull backs on long hoods vs. G Body? Watching the pumpkin .1 RS and curious to see where that lands.

[NYNick]

Pretty sure no turn around is coming anytime soon. Too much value has disappeared elsewhere.

[MrBonus]

The sky is falling, really, this time, for real. Or maybe not.

[Matt Monson]

There were a lot of cars being bought on BaT with crypto earnings.

[Bucketlist]

Running an ad on bat seems like a lot of work if you don't sell the car. Sellers need to be comfortable with the outrageous market without trying to force the issue with an unrealistic reserve.

https://bringatrailer.com/listing/1976-porsche-911-carrera-13/

https://bringatrailer.com/listing/1968-porsche-911l-16/

[MrBonus]

Originally Posted by Matt Monson

There were a lot of cars being bought on BaT with crypto earnings.

Crypto earning. Equity appreciation. Home equity.

The usual “what do I do with all these paper gains” conundrum.

[Glenfield]

Don’t read about BaT in the Fed minutes but got to think they’re aware of the crazy prices being asked for 912s

[Unobtanium-inc]

I've got a 77 911 Driver coming up next week, no reserve, so we can see what a normal car goes for.

---Adam

[Macroni]

Originally Posted by Unobtanium-inc

I've got a 77 911 Driver coming up next week, no reserve, so we can see what a normal car goes for.

---Adam

That looks like a fun one...... Middies I always find to be the largest value leaps....

Adam, How is the interior on it?

As for the OP's query; Media influences..... there is a tremendous amount of speculation as to where the economy is heading this has got to have impact on the fringes.....

[Unobtanium-inc]

Originally Posted by Macroni

That looks like a fun one...... Middies I always find to be the largest value leaps....

Adam,

How is the interior on it?

It could use a headliner but the rest of the interior shows very well.

---Adam

[MrBonus]

Originally Posted by Glenfield

Don’t read about BaT in the Fed minutes but got to think they’re aware of the crazy prices being asked for 912s

Oh great. Now you're going to find some guy with 3 912s in states of various disrepair who will lecture you on the superior handling characteristics, ease/low cost of repairs, and how it's about the experience and not necessarily the speed.

[Matt Monson]

Originally Posted by MrBonus

Crypto earning. Equity appreciation. Home equity.

The usual “what do I do with all these paper gains” conundrum.

The difference is you can actually buy the car with crypto, and not declare or pay any taxes on your gains. You think people aren't stashing tax free money in cars? Try that with your home equity or other traditional investments.

[Marine Blue]

Originally Posted by Matt Monson

The difference is you can actually buy the car with crypto, and not declare or pay any taxes on your gains. You think people aren't stashing tax free money in cars? Try that with your home equity or other traditional investments.

That certainly would explain a lot. Curious though how many dealers accept crypto as a form of payment and more importantly are they immediately cashing in? Seems kinda risky considering the fluctuations.

[MrBonus]

Originally Posted by Matt Monson

The difference is you can actually buy the car with crypto, and not declare or pay any taxes on your gains. You think people aren't stashing tax free money in cars? Try that with your home equity or other traditional investments.

Exchanging an appreciated non-cash asset for an entirely different non-cash asset is almost always be a realizable, taxable gain. Willful nonreporting is another issue altogether.

However, you can tap home equity tax free (without risking substantial penalties and/or jail time).

[RarlyL8]

The difference is you can actually buy the car with crypto, and not declare or pay any taxes on your gains.

You can do this but if you get caught you will pay taxes on those gains, plus interest and penalties.

Curious though how many dealers accept crypto as a form of payment and more importantly are they immediately cashing in?

A few options when accepting crypto for payment. You can convert to stable coin, to USD, trade for another type of crypto or keep it if you are a hodler. What ever works best for your tax and investment strategy. Crypto is cheap right now I'd hold it if you don't need the cash.

[voitureltd]

Just noticed Reggie Jackson selling a Porsche 1990 RUF turbo cab on BAT. Over the decades a Muscle car mover and shaker. He gets lots of respect with a large amount of collectors that notice what he is collecting or dealing with. This will influence vintage Porsche muscle type of values for those who know of him. Just another "brick in the wall" thing to consider if waiting for values to change.