Most people never do that.īut with our platform being purely online, the accessibility has just ballooned. I think the older environment of having to go to a physical car auction, how many people have done that? That's only really industry people or really deep collectors and that sort of thing. And I think that on our platform, what we have let people do is do it in their pocket. RANDY NONNENBERG: That's a super good question. And have you seen recently any shift in demographics in who's purchasing these cars on your platform or participating in car auctions even more broadly? Or has that target audience really remained relatively steady? I want to dive a little bit deeper into what you were talking about with accessibility. And then manufacturers these days are still producing some interesting ones as well. And there are millions of interesting vehicles that are out there already on the road.
We listed 22,000 vehicles last year, which was a 57% increase over the previous year on our online platform.
But is it overheated? There's a lot of people that are really excited about it and aggressive, and like I say, using it in that sort of investment language, as opposed to enthusiasm and hobbyist language.Īnd thankfully, there's enough vehicles out there. And there's things transacting every single day for $20,000 and less that people can sort of get into it at every level. You ask what makes people come to Bring A Trailer, one of the main attributes is the variety. But interestingly, the average sale price of a vehicle on our site last year was about $35,000 and did boom to $45,000 but there's not really a narrative that all of these are going to be $1 million and this is only a rich person's game. RANDY NONNENBERG: Well, certainly, I mean the big ones like that $2 million Porsche you're showing right now certainly get the headlines. When I talk to small collectors, even big ones, they're a little dismayed by how high these cars are and how they can't get in. Do you think the market is- there's a lot of enthusiasm. PRAS SUBRAMANIAN: So Adam mentioned just earlier about this the $2 million Porsche Carrera GT that sold this week, a record amount for that car. And their enthusiasm, as we have helped it to grow, makes that for something that can actually be a meaningful investment for them. So a lot of people use these and park them and care for them and dote on them. It's harder to enjoy a stock or a gold investment, something like that. And it's one that you can actually invest in and at least break even, if not make money in, while also enjoying it at the same time, in a way. A lot of people see collector cars as a scarce item. But some of that is just people refocusing based on the macro financial environment and wanting to see them as investments. Some of that was supercharged by the pandemic. RANDY NONNENBERG: There's a boom in collector cars overall. What do you think's driving this big boom in collector cars right now? But sort of big picture here, you guys had a huge year last year, nearly $1 billion in sales. And for the types of cars that we list, which are special things, one off things, what falls into the enthusiast segment, finding the right one to come up is what causes people every single day to come back to Bring A Trailer. And that's popular in many different enthusiast segments, whether you're into jewelry or fine art, or we happen to be cars. Yeah, a lot of that attraction is just the sort of treasure hunting that people get to do. RANDY NONNENBERG: Well, thanks for having me.
What is the attraction, for those of us who like to consider ourselves car nuts, to being able to do it all on your platform? Let me throw the first question out to you, though, Randy. I wish you were around in 2006 because I think I took a hit doing it on eBay. Randy Nonnenberg is Bring A Trailer Co-founder and President. But let's talk about where they're headed, because they are having a banner year. And that's where Bring A Trailer comes in.
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