Is BaT the Place to Sell a $350,000 Porsche Speedster?
Bring a Trailer currently has a 35-years-owned 1958 Porsche Speedster on its site with a current bid of $200,000 with seven days to go. According to the Sports Car Market Price Guide the median price of a Porsche Speedster is $359,500.
Is Bring a Trailer the right place to sell such a collectible, expensive Porsche?
The dealer selling this Porsche Speedster is an experienced seller of collectible air-cooled Porsches on Bring a Trailer (BaT) so they definitely believe it is the correct venue. I would question whether one of the high-end auctions such as RM Sotheby’s, Gooding or Bonhams would be a better venue to reach the high end Porsche 356 collectors willing to spend a half a million dollars on a Porsche Speedster.
The problem is that this year the in-person high-end Monterey auctions have all been canceled so the venues available to sell at auction are limited to online auctions. Bring a Trailer has been a leader in online sales of collector car air-cooled Porsches.
BaT recently launched a Premium Listing Service that is ideal for these high-end collectible Porsches and starts to encroach into the market of the in-person auction houses. The BaT Premium Listings extend the listing period for up to 21 days. This is based on learning by BaT that high-end purchases often require decision periods longer than the standard 7-day listings. There is a $5,000 cap on any buyer fee so it is a very affordable place for buyers compared to the 8-10% fee charged by the auction houses. At an auction house, if this Porsche Speedster sells for $350,000, the buyer will have an additional fee of up to $35,000 to pay to the auction house.
Even BaT admits on their site that they never planned on selling such high-end cars but it is happening organically with success. They currently have nine premium listings and have shown success with 12 premium sales in excess of $100,000 with a high of $725,000 on a 2009 Mercedes SLR McLaren Roadster.
Air Brigade Point of View on Using BaT for Collectible Porsche Sales
In this current environment of no in-person auctions, it is the ideal time for sellers to give BaT a try. You can set a reserve so there is really no risk other than over exposure of the collectible Porsche. The reality is that most car enthusiasts and collectors follow BaT so I expect you are reaching a buyer who can spend this amount of money.
1958 Porsche 356A Speedster Details
The seller acquired this 1958 Porsche 356A Speedster in 1985. A refurbishment including a repaint, new interior and an engine rebuild occurred over the next few years.
The Speedster was placed in storage in the early 1990’s. The selling dealer brought it back to running condition with an engine reseal, a tune-up, brake system service and more. This Porsche Speedster is being offered on consignment with records back to 1985, period literature, a removable hardtop, side windows, a driver’s manual, Kardex and a clean title.
Bring a Trailer listing for 1958 Porsche 356A Speedster https://bringatrailer.com/listing/1958-porsche-356a-speedster-10/
Bring a Trailer Premium Listings https://bringatrailer.com/bat-premium-services/
NOTE: Photos courtesy of Bring a Trailer
Tags: Porsche Speedster, Bring a Trailer, BaT, BaT Premium Listing
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