Bring a Trailer, an online classic car marketplace, experienced a record-breaking year in 2024 with $1.5 billion worth of cars sold despite a decline in classic car prices. The company held 45,000 auctions split between various vehicle types and had over 1.3 million bidders. These strong results defied the broader slowdown in the classic car market, which has been impacted by higher interest rates and an oversupply of older vehicles as baby boomers sell off their collections. The boom in older trucks and off-roaders has also faded.
The new generation of collectors, including Gen Xers, millennials, and Gen Z, are more interested in modern supercars and sports cars from 2005 or later that they can use and enjoy driving. The market for high-end sports cars in the $200,000 to $500,000 range is strong, while cars over $2 million are facing challenges. Although there were notable sales such as a 2022 Bugatti Chiron Pur Sport for $4.1 million, a 2018 Bugatti Chiron for $3.1 million, and a 2022 Lamborghini Countach LPI 800-4 for $2.5 million.
The most popular auction on Bring a Trailer was a 1991 BMW 850i 6-speed once owned by Michael Jordan, which sold for $109,000. The CEO, Randy Nonnenberg, noted a surge in bidding and demand after the election, which continued through traditionally slow months like December and January. Overall, despite challenges in the classic car market, Bring a Trailer continues to thrive and attract a new generation of collectors.
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