Latest news with #RandyNonnenberg
Yahoo
12-02-2025
- Automotive
- Yahoo
Bring a Trailer's European Expansion Was a Natural Step
Randy Nonnenberg, co-founder and current president of Bring a Trailer, will be the first to tell you that eBay was his original auctioneering fix — at least until his creation was born. Follow that thread for 18 years, and Bring a Trailer has become the premiere auction website not just for low-mileage Bimmers and niche Saabs, but for those seeking to maximize their return on investment from rare, quirky, or just plain clean pre-owned vehicles across the spectra of ages, brands, and styles. But while that opportunity for enthusiasts to find the cars they really want has been limited to North America, our gearhead friends across the Atlantic in Europe are equally as invested in finding quality metal. Hence, it was only natural that Nonnenberg and the team at Bring a Trailer — which, like Road & Track, is part of the Hearst Autos group — set their sights on crossing the pond in 2024. Now, with three partner locations spread across the European Union, Bring a Trailer is ready to operate in Europe as if it had always been there. at "We have had a lot of sort of grassroots fans of BaT in Europe for a long time, some of them bidding on cars. So I would get a lot of questions of, 'When are you coming to Europe?'" Nonnenberg told Road & Track. "And we just wanted to do that intentionally, in a way that our tech was built out for it, and our team was ready to support it. And we are there now in a substantial way, and ready to grow even more," The site's three partner locations span from the Netherlands down to Belgium and across to Germany. BaT's Netherlands partner, Image Street Classics, was established last summer and offers the storytelling, imagery, and auction logistics expertise that the auction site has become famous for. Then came 1600veloce, BaT's central European partner — and perhaps its most geographically important — in January of this year. Centered between Frankfurt and Hamburg, 1600veloce's position makes the cross-continent shipment of cars easier than ever, allowing cars from around Europe to be more readily vetted, photographed, and prepped for auction. BaT's Belgium bureau, Colombo & Co, is its most recent addition, serving as a port-side hub to ship the best and most bizarre cars Europe has to offer Stateside. But not every auction success story ends in the U.S. Around 50% of cars auctioned off in Europe stay in Europe, making 1600veloce and its Germanic location a prime cross-country headquarters. (Just look at the Schipol to Dublin success story of this 1959 Mercedes-Benz 220s cabriolet.) The rules haven't changed much, Nonnenberg explained, as European buyers can bid on U.S. auctions and vice versa — but the intra-European sales mix is becoming an increasingly important part of BaT's year-end report. "We're not going to do just one in each country, but we're kind of starting there so we can get a footprint and spread it out. What those partners do is give us capability on the ground — local language spoken and local contacts — the ability to navigate the local market without us having to go set up offices all over Europe to try to do it sort of top-down," Nonnenberg said. "We're doing it sort of on a community level, enthusiast level, and from the bottom up, which is a little different, but gives us sort of a local European flavor to it. As opposed to a bunch of us coming from over here to go try to solve the way of selling in the market." The listing and buying processes remain largely the same for Bring a Trailer users in Europe. Selling your car on the site comes with a custom-written listing, a seven-day auction, and the choice to add professional photography for a few hundred dollars extra. (Nonnenberg admitted that the system of dispatching photographers across the country isn't quite set up for European operations, but that isn't far off.) Bid amounts will be translated into the currency of location, and value-added tax is calculated and tacked on for applicable transactions. Pricing is on par with the American version, too; EU listers pay the typical $99 listing fee in the form of €99, while U.K. sellers pay £79. Buyers fees stay at 5%, with a maximum of €7,500 in Europe and £6,000 in the U.K. The biggest change to BaT's operational layout from its expansion appears on its website: prospective European buyers can filter auctions by region, including European Union and United Kingdom filters. There are even more granular search options once inside of the EU or U.K., allowing for nationality- and era-tailored listings. These filters aren't exactly new, but the ability to show off Euro-market listings is one Nonnenberg is particularly excited about, and it's one that builds on the community-oriented principles BaT was founded on. With the site's bounty of regular commenters and a strong sense of community underneath every listing, Euro enthusiasts are now better represented than ever — no matter their car-buying affinities. "Some people think that Europeans just drive, you know, European marquees from their own country or something. But there are Italian car fans everywhere, and there are American car fans everywhere. And there are even Japanese cars getting shipped around and all over the place. So it's a diverse group," Nonnenberg said. "And that means a lot of need for the ability to transact the way that BaT does — which is transparent, and with low fees, and in a helpful way." 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NBC News
11-02-2025
- Automotive
- NBC News
A $4 million Bugatti and Michael Jordan's BMW brought car auction company a record year
Bring a Trailer, the online classic car marketplace, sold a record $1.5 billion worth of cars last year despite a continued slump in classic car prices, according to its CEO. The company held 45,000 auctions in 2024 split between cars, trucks, motorcycles, memorabilia and parts, and had more than 1.3 million bidders. 'With the stock market up and money flowing around, we had good velocity,' said Randy Nonnenberg, co-founder and president of Bring a Trailer, which is part of Hearst Autos. The strong results for BaT defied the broader slowdown in the classic car market. Higher interest rates have made classic cars less attractive as investments, since collectors can now make 4% or 5% in risk-free cash equivalents. Total sales at live classic car auctions last year fell 11%, to $2.18 billion, according to Hagerty, the classic car insurance and auction company. At the same time, baby boomers, who powered the collector market for decades, are now aging out. Many are selling their collections, leaving an oversupply of 1950s and 1960s vehicles that are less appealing to the new generation of collectors. The boom in older trucks and off-roaders has also fizzled, Nonnenberg said. 'A lot of that was seen as a Covid bubble, and that's cooled,' he said. The new generation of collectors likes modern supercars and sports cars, especially models that are 2005 or later, according to classic car experts. Nonnenberg said today's younger collectors, including Gen Xers, millennials and members of Gen Z, 'like cars they can use, where they can turn the key and just drive it. They're less hobbyist.' The very top of the market — with seven-figure or eight-figure cars — also remains weak. Collectors are more interested in less-expensive cars they can drive and enjoy today than they are in buying museum-quality artifacts that sit in a precious garage display. 'The market is super strong for high-end sports cars in the $200,000 to $500,000 range,' Nonnenberg said. 'Cars over $2 million have had a tougher time,' Nonnenberg added. The most expensive car sold on BaT last year was a 2022 Bugatti Chiron Pur Sport that went for $4.1 million. Also sold were a 2018 Bugatti Chiron for $3.1 million and a 2022 Lamborghini Countach LPI 800-4 that went for $2.5 million. The most popular auction, drawing the most bidders, comments and views, was the sale of a 1991 BMW 850i 6-speed that was bought new and once owned by Michael Jordan. The sale price: $109,000. Nonnenberg said he saw a big jump in bidding and demand right after the election, which continued through December and January, which are usually slow months. 'We saw people buying $250,000 Porsches on Election Day,' he said. 'And we even saw awesome stuff selling on Christmas Eve.'
Yahoo
31-01-2025
- Automotive
- Yahoo
Bring a Trailer Surpasses $1.5 Billion in Sales for Record-Breaking 2024
⚡️ Read the full article on Motorious Bring a Trailer (BaT), the popular online auction platform for car enthusiasts, has officially surpassed $1.5 billion in sales for 2024, marking its most successful year to date. This milestone represents the third consecutive year BaT has exceeded $1 billion in annual sales, with nearly 45,000 auctions spanning cars, trucks, motorcycles, memorabilia, and parts. The platform saw an unprecedented level of engagement, averaging over 800 auctions per week, with peaks exceeding 1,000 listings. BaT's registered user base also grew significantly, adding 219,000 new members and bringing the total number of registered users and bidders to 1.36 million. 'We're continuing to evolve as a business while staying committed to transparency and engagement with the enthusiast community,' said Randy Nonnenberg, co-founder and president of Bring a Trailer. 'This year was another milestone as we made our auction process faster and more efficient for sellers and buyers alike.' Improvements in internal systems and staffing have significantly reduced the time it takes to list a car. In previous years, the listing process could take over a month, but in 2025, well-prepared sellers can see their auctions go live in just a few days. A significant shift in buyer preferences continued in 2024, with millennials and Gen Z buyers gravitating toward modern classics. Vehicles from the 2000s were the most frequently listed for the second year in a row, with the most common model years being 2006, 2004, 2007, 2008, and 2005. 'We're seeing more interest in cars from the last era of analog driving,' Nonnenberg added. 'These vehicles resonate with younger collectors who grew up admiring them and appreciate their raw, driver-focused experience.' BaT also took steps to expand its European presence, announcing new partnerships with trusted European and UK-based sellers. The company is actively recruiting Local Partners in Europe to enhance accessibility and transparency for international buyers and sellers. Among the most viewed, commented, and bid-on auctions of the year were: Ex–Michael Jordan 1991 BMW 850i 6-Speed 2019 Porsche 935 1968 Chevrolet C20 CST Custom Camper w/1966 Del Rey Sky Lounge 4,400-Mile 1996 Vector M12 Widebody 1990 Mercedes-Benz 560SEC 6-Speed by Bespoke With rapid growth, evolving market trends, and international expansion, Bring a Trailer is poised for yet another record-setting year in 2025 as it cements itself as the go-to platform for car collectors and enthusiasts worldwide. Sign in to access your portfolio
Yahoo
30-01-2025
- Automotive
- Yahoo
Bring A Trailer Sold $1.5 Billion Worth Of Cars Last Year
Automotive auction platform Bring A Trailer has surpassed one billion dollars in sales for three consecutive years, and 2024 marks the site's biggest sales year ever with over $1.5 billion worth of units moved, and I was one of them. Not only has the average transaction price gone up on the site, but the site is seeing more listings than ever before. In calendar year 2024 the site saw nearly 45,000 listings hit the market, sometimes seeing as many as 1,000 new listings in a week. 'BaT continued evolving as a business in 2024 – both as an organization and as a leader in the market,' said Randy Nonnenberg, co-founder and president of Bring a Trailer. 'This marked another banner year as we continued to grow while maintaining our overarching goals of bringing transparent auctions to enthusiasts and giving our community the opportunity to interact with special cars, their owners and subject matter experts.' Part of the brand's success in 2024 was found by streamlining internal systems and hiring more staff to handle the increased demand. Just a few years ago submitting your listing to BaT would come with a multi-week wait to get through approval and listing creation before it could go live. 'Now, a well-prepared seller can have their car online in just a few days in many cases,' assures Nonnenberg. While the big-dollar auctions are still led by the blue chip classics like 300SL Gullwings and Nazi-era 500K Roadsters, as well as the high-dollar collectible hypercars, BaT says the majority of its volume comes from enthusiast cars at the tail end of the analog driving era. The most popular model year sold on BaT in 2024 was from 2006 (followed closely by 2004, 2007, 2008, and 2005 in that order). BaT is looking to expand its operations in Europe for 2025 in order to keep the growth alive. The company doesn't divulge all of its data, but if we assume around 44,500 listings hit the site in 2024, the company's 77 percent sell-through rate tells us that it closed sales on around 34,250 units. $1.5 billion in sales means that the average BaT sale falls around $43,780. That falls a bit short of the average new car transaction price in 2024, which was about $49,740. For the latest news, Facebook, Twitter and Instagram.
