July 23, 2024

Linkage Mag

Geared for the Automotive Life

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GuysWithRides.com Offers a No-Dealers Auction Model

This 41,000-mile 1994 Acura NSX recently sold at $81,000 on www.guyswithrides.com

GuysWithRides.com is a little different from other online collector-car auctions.

The site doesn’t allow dealers to buy or sell on their platform, and that gives buyers confidence that they’re playing on a level playing field, says co-founder Rudy Samsel.

Dealers often bid up cars on other online auction sites, knowing that they can probably flip the car for a higher price at a future date, Samsel said.

Many buyers can’t compete with dealers who have the funds and business structure to hold and flip cars, Samsel said.

GuysWithRides.com also works with buyers and sellers after a reserve auction ends without a sale.

In the site’s “Reserve Parking” marketplace, private parties buy and sell cars in an online auction with reserve prices.

“A fair amount of online collector-car auctions simply end short of achieving the reserve price, leaving the top bidders with no mechanism to make counter offers, and with the sellers forced to start finding an alternative marketplace to sell their cars,” Samsel said. “When a GuysWithCars auction does not meet the reserve, I work personally with the top bidders and sellers after the auction ends to try and facilitate a deal.”

The recent sale of a 1994 Acura NSX with a 5-speed and 41,000 miles on the clock was a good example of this system.

The auction ended short of the reserve price. Samsel brought everyone together, and the car eventually sold for $81,000 — a good, fair price in the rising market for first-gen Acura NSX cars.

It’s common to see this kind of dealmaking at a live land auction — but not online.

The number of online collector-car auction companies is booming, and each company is seeking a niche. No dealers allowed — plus post-auction dealmaking — is the play at www.GuysWithRides.com.