The Spring and so comical. Market has finally arrived, it’s so typical
It was announced today that “The Spring Market has finally arrived”. If you stay in your office and
look at the calendar you could potentially make that pronouncement. But if you are actually in the wholesale
business you are well aware of the fact that Spring came very early this year…and
ended about three weeks ago. It is absolutely
comical to write this and have zero comprehension of the market. There is NO action in the lanes that would
indicate a Spring market has arrived, NONE.
The definition of a Spring market is a deep buyer base where cars bring
silly money based on unbridled optimism, with action, deep action, on
everything from trash to big ticket. We
sell the entire rainbow every week regardless of market and we sell worldwide. Let me break the news, this ain’t no Spring
market. It prematurely came and left a
while back, no paronomasia intended.
In a real Spring
market creamers bring retail and slugs get sold…..but don’t get arbitrated…buyer’s
remorse is overwhelmed by a gambler degenerate’s (the average wholesale car
buyer) optimism he can advance the hog in no time flat. That is not where we are today, sorry to bust
bubbles. We saw this after Thanksgiving
and into the first few weeks of January, a wild Spring market. It is over daddy-o. No signs of it in the air. Everybody still wants a creamer, but the
average unit, the one that is in the in-play market everywhere, is sale-proof,
that ain’t “Spring has arrived”. That is "we are in a grinders market with no sign of that turning around". We have had the highest internet
participation since Ringman started over a decade ago. Well over 1,000 dealers logged on to our lanes
during the sale, phenomenal, and thank you all, but the normal Spring that we
wish would arrive isn’t here, and in my opinion here’s why:
The guys that paid HUGE anticipating the “Spring market”,
that never materialized, are now looking at 30-60 day units that lost their
luster, ate a pile of shop money, and are bringing $3,000 less (or more) on the
block today, if they bring anything. What kind of appetite does that cat have
to puff up his chest and dig in for more of the same, zerooooo. New cars are incentivized and selling, trades
are everywhere, and the buyer at the auction has the same appetite as you do
when you get to you mother’s house on Thanksgiving…after you just ate dinner at
your mother-in-law’s , non-existent. Your
mother has been cooking for two days, all your favorite food, and you want to
vomit when you walk in the door because you just ate like a pig an hour before. She’s scratching her head asking why your
plate isn’t piled up like it always has been at Thanksgiving. She’s heartbroke, no, pissed. That is exactly where we are in this proclamation
of “the Spring Market has finally arrived” today.
Nice guys for sure, simply out of touch. Truly amazing.