The Gavel Bangs for Niche Online Auctions
BaT earns a 5% commission on the sales price, capped at a maximum of $5k/sale. Source: BaT website, Bloomberg, The New York Times
Going… going… gone! Online auctions are outperforming their in-person counterparts.
Last year, classic-car auction site Bring a Trailer (BaT) sold $829m worth of used cars. It was the first time that the site beat its biggest live-auction rivals, including Mecum Auctions, which reportedly sold $578m worth of vehicles in the same year.
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