Randy Nonnenberg talks about how the online-auction platform started and why vehicles from his high-school days are in such demand.
Interestingly, cars just a decade or so older than Bring a Trailer are also becoming all the rave with enthusiasts. The auction site has seen an 82 percent increase in value for vehicles from the 1990s, and that’s in the last two years alone. During that time span, the platform has also had a 128 percent boost in the number of those cars successfully crossing the virtual auction block.
It [Bring a Trailer] was a combination of my co-founder’s experience in the technology world and mine in cars. He suggested putting what I find in one place, a sort of greatest hits of the internet. And people, it turned out, liked that.How would you define the platform’s trajectory as far as success?
The vetting, or what we call the “curation” of the listings, is based around the vehicle itself but also factors in the seller. How communicative, helpful, descriptive and open are they when we ask them questions? If we email the seller a couple of questions about their car, and they don’t respond, or get angry or disappear, they are not good for the marketplace. Those sellers and their vehicles get purged.
Also, cars from the late 1980s and into the ‘90s became a lot more useable than before—the air conditioning works, the radio has more than one speaker, there are power windows and more modern brakes. You can try to convince someone to drive a 1971 Camaro every day, but most don’t want to do that. Then there’s the lack of depreciation. Say you go out and buy a perfect [Nissan] Pathfinder from that time; the depreciation on it now is effectively zero.
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