There’s a new online auction site coming to town – Hagerty’s Marketplace. Of course new might be an exaggeration, since the Hagerty Marketplace already exists, but starting November 2 online auctions will become a new feature.
We expect to see some level of involvement from the team at Broad Arrow following their acquisition by Hagerty so a solid offering of cars should be consistently available.
Interested bidders can pre-register now to be sure not to miss out on the first batch of auctions. A fairly reasonable buyer’s premium of 7% will be charged – minimum of $500 – and listing a car will $99, although the listing fee is being waived for a limited time as a promotion.
It’s no surprise to see Hagerty moving into the online auction market. Considering how well auction houses did with online sales during the pandemic along with the massive success of Bring a Trailer and other similar sites seeing a new player in the online auction segment will add an interesting twist to the market.
A few of the cars expected to be seen at launch include a 2019 Ford GT, a 1992 Porsche 968 Convertible, and a pristine-looking 1963 Ford Hairline Squire Wagon. We’ll be keeping a close watch on Hagerty’s Marketplace as the launch nears.