From CNBC:

Bring a Trailer, the online auction site for collectible cars, had record sales in 2023 despite a decline in classic-car prices. Sales increased to over $1.4 billion from $1.35 billion in 2022, with over 30,000 cars sold, offsetting a drop in prices to an average of $54,000. Total auction sales for classic cars fell 3% to $4.19 billion.

Potential bidders cooled due to inflation and market volatility, but trophy cars are still being offered, and buyers are still bidding, even at lower prices. The low-cost, user-friendly platform attracted over 1.2 million users in 2023, while the number of active bidders surged to 520,000.

The site also continues to attract users with auction voyeurism, offering a wide range of cars from $3,000 motorcycles to $1 million Ferraris. For 2024, Bring a Trailer is launching a new suite of services to speed up the checkout process for buyers, while prices are expected to stabilize and sales are shaping up to be even better than 2023.

While Bring a Trailer didn’t beat its record for most expensive car sold on the site, it managed to sell two cars for over $2 million in 2023, including a rare 1967 Porsche 910 race car for $2.5 million and a 2014 Pagani Huayra for $2.9 million. The company also reported more newer cars from the 2000s and 2010s going up for auction.



Read more: Classic car auction site Bring a Trailer sales hit record $1.4 billion