What do the first Toyota GR Corolla Morizo Edition and this ’23 Dodge Challenger SRT Hellcat Widebody Jailbreak Last Call (say that five times fast) have in common? Had they come to market a year ago, they both would likely have reaped a massively more significant premium. While that is a disappointment for the charity that benefitted from the Corolla’s sale, it does reinforce data we observed earlier in the year that suggested shrinking premiums over MSRP. Dave Kinney (who is poised to cover this topic in greater detail in an upcoming Ask an Appraiser) and Larry Webster dive into what this means for the market, recent notable sales, and even a story about the origins of the Zamboni Ice Resurfacer in their latest No Reserve Podcast. Watch below or head over to Spotify or Apple Podcasts to check it out.
Have premiums finally evaporated?
by Hagerty Insider
3 November 2023 1 min read
I’m not going to lie. Knowing people who bought a car at a premium to then try to flip immediately above that price and failing brings a little joy to me.
Concur. Everyone has to make a living, but it has placed most interesting cars out of reach for me due to BAT and Flippers. My two cents and worth every penny. . .
Amen to Gary and Lon! I believe that there are many of us that feel the same way. Let’s get back to reality.
There are some people who think that ‘flipping cars’ ,or countless other, is a way to make a living but it sure as hell isn’t a honest one. They’ve turned what would be at best a side hustle into an occupation. An excuse get out of bed at the crack of noon and think the world owes them a living. For those who fell into their trap and thought in a year or two they’d be able to make a fast buck, sorry but _” There’s a sucker born every minute” and you’re one of them.