Has The Car Market Bubble Burst Edition of SORT
As of Monday, July 25, 2022 at 6:00 PM pacific time:
| Sport | Off-Road | Touring |
|---|---|---|
| 1993 Mazda RX-7 R1 | 1982 Jeep Cherokee | 1951 Chevrolet Wagon |
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| I don’t know for sure, but it seems to me that the car pricing bubble has burst, at least on BAT. There were probably a bunch of folks taking advantage of the wacko car market to get top dollar for their vehicles by setting the reserves on their auctions higher they might have several months ago. I’m basing this on the fact that a lot aren’t meeting the reserve recently.
As you can see below, 2 of 3 cars I picked last week didn’t get sold. Because I keep track of what each car I choose for these posts just so I can do a yearly wrap up (this is last year’s) I can tell you how many cars did not sell. From August 2020 to August 2021 of the 156 cars I chose a mere 3 came back as Reserve Not Met. This year from August 2021 to today of the 150 cars picked 15 have not met their reserve. Ten of those fifteen have come in the last 3 months… |
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Here is what last week’s cars sold for, or bid to (if the reserve was not met):
Sports: 1971 Alpine A110 Bid to $93,110 on 7/22/22
Off-Road: 1996 Land Rover Defender Bid to $37,500 on 7/20/22
Touring: 2001 BMW M3 Sold for $86,000 on 7/21/22