One of the most fascinating events in any part of the real-world car hobby is the collector car auction, where a wide range of the finest and most significant cars in the world cross the block, bought and sold in a matter of minutes, sometimes for outrageous sums of money. That excitement has been missing so far in the Automation community…where there are plenty of fantastic cars, but nowhere for them to “sell”. Ever looked at a Bonham or an Erin and thought, “man, I would love to put one of those in my garage”? well, now is your chance!
So, Who Can Enter?
Anyone can enter this challenge; due to the way it is designed, it will be open to both the Kee and UE4 versions of Automation!
What Kind Of Cars Can Enter?
Any car can enter, from any model year. Classic cars older than 25 years old are preferred, but if you have a significant car from any era, even if it’s brand new, it will be fine to enter. There are advantages to entering more valuable, prestigious or significant cars though…more on that in the rules.
How Will The Auction Work?
Each car submitted to me will be fed into my spreadsheet to be given an estimated value, based on it’s list price, prestige, age and other factors (described in the “How Do I Sell A Car?” section below). When that car’s lot number comes up, it will go on auction in this thread for 36 hours, or until no new bids have been posted for at least six hours, whichever comes first. The highest bid when the auction closes (called the “hammer price”) will “win” the car, and the auction will begin anew. If the auction ends early, the new car(s) will be posted at the same time as though the auction went the full 36 hours (just to keep my personal schedule under control mostly). Depending on the number of cars posted for auction, one to three cars will be auctioned in each 36-hour period.
Before the auction, a fancy catalogue will be published, with an overview of each car in the auction, including lot number, its special selling points, a quick description of the car’s condition and history, along with an estimated price.
How Do I Bid?
First, you need to send me a private message that you would like to register as a bidde" - I will then reply to you with your paddle number and the amount of money you can spend in the auction. The amount of money you will be assigned is random within a set of constraints, with a mode (most frequently occurring value) of $1,000,000. Tiered bidders have been removed, and the average money has been reduced considerably from the first auction.
If a bidder is also a seller, any proceeds from their car sales will be credited to their account, less a buyer’s fee subtracted from the hammer price. The buyer’s fee is 15% on the first $200,000 of the hammer price, then 10% for each dollar higher than $200,000.
To bid on a car, simply post your assigned paddle number, along with your bid in this thread, like this:
Lot Number 100, Paddle 000, $450,000
Once the auction closes, the bidding ends and the car sells for the highest bid at the end of the auction (the hammer price). All cars crossing the block will be sold with no reserve, meaning that they sell for whatever the hammer price is, regardless if it meets the estimate in the catalogue or not! Bidding increments will be situational, depending on the estimated value of the car, and will be posted with each new auction.
In this auction, the last five minutes of each auction block will feature a “sniper rule”. At the beginning of the auction process, each bidder will receive a limited number of non-refundable “snipe bids”, which can be used to bid in the last five minutes before the auction closes. All bids in the last five minutes, regardless of them being the winning bid or not, will count against your total of snipe bids, so use them carefully!
Also, note that the Credit Gasmea (the official bank of CM Auctions) will not allow bidders to spend in excess of their current funds under any circumstances.
Since there is no real money changing hands, I encourage all of our participants to bid often - more bids spawn more bidding wars, and more bidding wars spawn more excitement!
How Do I Sell A Car At Auction?
Send me a private message with your exported car files (either the .zip from the Kee version or the .car file from UE4), along with a couple of beauty shots and a completed version of this form:
Username: your forum username
Car Make: your company’s name
Model Name: your car’s model designation
Country of Origin: where was the car built
List Price New (including markups): from the “Markets” tab in-game
Car Status (Original, Restored, Modified): see below for description
Production Run (Limited, Low, Medium, High): see below for description
Race Car (Yes/No): Was this a race car, or a street car?
Rare Within Production Run (Yes/No): see below for description
Seller Description Of Car:
Write a few sentences describing why this car is special - you’re trying to maximise the sale price, after all!
Cars going for auction will have one of three statuses assigned to it - Original, Restored or Modified.
Original cars must be “numbers matching”; in other words, the trim year and engine variant year must match, or be matches within reason. Original cars will have a boost in value in some circumstances compared to the other two categories, but they can also cross the block in very poor condition, which will diminish their value. New cars (from 2017, 2018 and 2019 model years) will be classed as Original, unless otherwise specified.
Restored cars must also be “numbers matching” as well, but they will have the benefit of a minimum condition value of 75 percent, which will help hold their value above a certain level.
Modified cars do not need to be “numbers matching”, which will give them a diminished value. However, it does mean that you can take an old trim and update it with a different or more modern engine and interior fittings, which can dramatically increase the prestige value of the car - and since bidders will be scored partially on the prestige of their purchases, a Modified car can give you a good score for very little money!
Production Run affects the rarity of your car, and is representative of how many cars your company produced (or plans on producing) of that particular trim over its lifetime. This table is how it breaks down:
|Production Run Value||Total Cars Built|
|Limited||Fewer than 2,000|
|High||More than 200,000|
Rare Within Production Run
If your car is Medium or High Production Only (with one exception), you can specify if the car is rare within its production run. Perhaps it has an unusual engine option, or it’s a particularly desirable colour…all of these would be reasons to say “Yes” for this question.
Low and Limited Production cars are eligible for this under one circumstance - that they are either the first or the last example of that particular model going on sale, and are not eligible to have multiple copies of the same car be auctioned off with this tag.
How Many Cars Can I Enter?
As many as you like! If I see fit to cut cars from the challenge, I will cut them in the reverse order they were sent - fourth submissions will get cut before third submissions, and so on, so that I will not cut a car from someone who has only sent one.
How Much Will My Cars Be Worth?
I have no idea, honestly - condition, racing history and rarity will all be random values. We will almost certainly have cars that sell for $20,000, just the same as we could have cars that sell for $20,000,000 as well.
When Do I Need To Submit My Cars Or Enter As A Bidder?
The deadline for submissions for this auction is Monday, July 23rd at 2359 GMT (7:59 PM Eastern Time, 1:59 AM CEST on July 24th)!
Can I Just Watch From The Sidelines?
Yes, absolutely, and non-participants are welcome to post in the thread too, if they like, but I would rather see you on the auction floor than off to the sides watching!
I Like To Win. How Do I Win This Challenge?
Well, there will be a number of ways to win!
As a bidder, if you end the auction with the highest total prestige purchased, that’s a win. If you buy cars that sell for the combined lowest percentage of their estimated values, that’s also a win. If you buy a car with the single lowest percentage of its estimated value, that’s a win too.
As a seller, if your cars sell for the highest percentage over their estimated value, that’s a win. If your car sells for the most of any car in the auction, that’s a win. If your cars sell for the highest combined value, that’s a win. Note that sellers are allowed, and even encouraged, to post while their car is up for auction, to help pump up interest!
The auction is open for bidders and sellers to register!