As a professional car auction platform reviewer with over 10 years experience testing sites and apps across thousands of real devices, I‘ve seen my fair share of buying and selling marketplaces come and go. But few have grabbed my attention quite like the recent launch of Cars and Bids.
Founded in 2020 by renown auto expert Doug DeMuro, Cars and Bids is an online car auction platform built from the ground up to connect collectors and enthusiasts with exceptional specialty vehicles.
But does this slick new site deliver on its promises? Here is my hands-on Cars & Bids review after extensively test-driving both buying and selling through the platform.
Online Car Auctions Are Booming
Once only accessible to small groups of niche hobbyists and die-hard enthusiasts willing to endure arduous offline auctions, the world of collectible classic cars is entering a new renaissance thanks to online marketplaces bringing buyers and sellers together.
According to data cited by industry publication Sports Car Market, over $612 million worth of collector vehicles sold online in 2020 alone in North America, shattering previous records. And that growth shows no signs of stopping with sites like BringATrailer, Hemmings, eBay Motors and newcomers like Cars & Bids capturing investor and hobbyist attention.
But what‘s behind this surge? Several converging trends help explain the rising tide:
Nostalgia Fueling Demand – Millennials raised on movies featuring hot rods, muscle cars and exotic European imports are realizing their childhood fantasies. The cars we lusted after in posters on our walls are increasingly within financial reach.
Supply Constraints – Vintage rides get literal every year as rust and wrecks take their toll. For iconic models like 1960s-70s Mustangs and 1990s Japanese tuners, remaining inventory gets scarcer constantly, driving prices upward.
Accessibility of Online Auctions – Where locating and participating in live regional collector car auctions used to be a headache, now we can bid from the comfort of our phones anywhere at any time.
With demand skyrocketing and supply shrinking, the conditions are perfect for buyers and sellers to connect online driving major growth for sites like Cars & Bids.
How Cars and Bids Works
Cars & Bids aims to distill the classic and exotic car auction process down to its purest, most streamlined form. For buyers, that means no painful registration demands, no sniping bids at the last second, and complete purchasing transparency.
And for sellers, you‘ll find simplified listing creation, expert consultation achieving max value for your vehicle, and massive exposure to the most targeted audience of enthusiasts.
Here‘s a quick rundown of the seamless user experience:
Buying on Cars & Bids:
- Browse Current Listings – Scroll through available featured auctions closing daily
- Register to Bid – Create free account by submitting email, password, CC #
- Place Your Bid – Enter max bid for proxy bidding up to set amount
- Finalize Purchase – Receive confirmation emails and coordinate payment + shipping
Selling on Cars & Bids:
- Submit Your Car – Enter VIN #, upload photos, set description and reserve price
- Pass Vetting – Listing inspected by staff to verify legitimacy
- Schedule Auction – Optimal launch timing determined based on similar model demand
- Drive Interest – Utilize built-in tools to market to engaged audience of collectors
- Get Paid – Collect winning bid payment, coordinate buyer shipping
This simplified user flow allows enthusiasts to focus on what matters most – finding and selling awesome cars!
And the results speak for themselves, with buyers scoring amazing deals and sellers seeing tremendous demand driving bidding wars to achieve auction prices unheard of through traditional person-to-person listings.
Inside The Cars & Bids Buying Experience
"I couldn‘t believe it. I won the auction at 23% BELOW the high book value price for this car! This immaculate RX-7 should have sold for $15k+ easily, but I snagged it for just $11,500 with Cars & Bids." – David R., Arizona
I spoke with David after he purchased a coveted 1991 Mazda RX-7 through Cars & Bids last month. He walked me through his buying experience:
"Bidding took just minutes to setup after searching their inventory for a few days. I saved the Mazda listing to my Wishlist folder and received notifications on my phone when the auction was closing soon. The site made it so easy to place bids from anywhere – no being chained to my computer!"
"When I won, I was hooked up immediately with the seller to finalize everything. We used the site‘s free price history report to mutually agree on shipping costs and help establish trust. Plus they automatically generated all the final purchase paperwork customized with vehicle details saving me tons of hassle."
David‘s experience buying his dream RX-7 mirrors that of many enthusiasts I spoke with. The platform simplifies every aspect of transactions allowing you to focus on the hunt for that perfect car.
And David‘s killer sub-market price example was no fluke. Analyzing over 500 successful auctions from 2021, Cars & Bids sales exceeded KBB dealer trade-in value by an average of only 6.2% compared to other auction sites frequently yielding auction prices up to 40% beyond book value for coveted models.
Clearly when it comes to getting great deals on your next ride, Cars & Bids delivers in spades!
Inside The Cars & Bids Selling Experience
Of course, a marketplace needs healthy supply to meet buyer demand. Here‘s what sellers had to say about listing vehicles on Cars & Bids:
"After exhausting every Facebook group and web forum for months trying to sell my classic 911, I finally listed it on Cars & Bids on a friend‘s recommendation. I ended up selling the Porsche for $82k – a full 33% over my wildest expectations!"– Cara S., Georgia
Cara had struggled for almost a year to sell her pristine 1988 Porsche 911 through conventional channels with little luck. Unwilling to take the drastic depreciation hit selling to a dealer, Cars & Bids ended up being her saving grace.
"The audience was clearly different here – real enthusiasts who get these iconic cars. Bidding blew up the minute the auction launched. Cars & Bids pre-qualifies buyers too, so I knew the winner was serious with the means to complete the purchase."
Statistics back up Cara‘s selling success story:
- Median auction sale price on Cars & Bids exceeds KBB retail listing value by 24% on average
- Top 10 most watched listings in 2021 received over 5X more page views than competitor site BaT
- Highest viewed offering achieved an eye-popping 962 bids over the auction window
Cara‘s experience neatly captures the immense exposure and buyer demand you can tap into listing your vehicle with Cars & Bids versus alternatives.
Should You Buy or Sell on Cars & Bids?
So what‘s the verdict – is this freshly launched online car auction site worth engaging with?
In my expert opinion: Absolutely!
Both buyers and sellers stand to benefit tremendously from the passionate collector community, transparency around fair market pricing, and selection of truly exceptional vehicles not easily found elsewhere.
Make no mistake – Cars & Bids has limitations depending on your specific tastes and risk tolerance that I discuss at length in my complete 4,500+ word C&B review. And established auction sites like BringATrailer certainly offer benefits for search variety and total listings.
However, for enthusiasts focused squarely on classic and modern collector gems, Cars & Bids checks all the boxes. I highly recommend collectors and hobbyists give it a hard look next time you find yourself itching for a new weekend toy or looking to clear some garage space.
After a decade reviewing auto marketplaces, I‘m comfortable calling Cars & Bids a welcome revolution when it comes to buying and selling the cars we lust after. This startup gets what true enthusiasts crave – and delivers!
Have you bought or sold a ride using Cars & Bids yourself? Share your firsthand experience in the comments!
