Cars & Bids

Cars & Bids operates an online auction marketplace for enthusiast vehicles, positioning itself around "cool" cars ranging from mainstream sports and exotic models (for example a Ferrari F355 or Lamborghini Gallardo) to esoteric and quirky vehicles (a Dodge Dakota Convertible or Mercury Capri XR2) and traditional enthusiast favorites (a Mazda MX-5 Miata or Porsche 911). The platform originally listed only vehicles built in 1981 or later, reflecting a focus on modern-era collector and enthusiast cars from the 1980s onward.

Sellers submit vehicles through an online form and are told quickly whether the car is accepted; accepted cars are listed with input from the seller on auction scheduling. Every listing includes a free vehicle history report supplied by the company, alongside known flaws, photos, maintenance records and, where applicable, an inspection report. Buyers must register with a valid credit card and phone number, and the platform places a hold on the card for the buyer's fee while bidding is open. Bids placed within the final minute extend the auction by one minute. Auctions may carry a hidden reserve or run with no reserve. After an auction closes, buyers and sellers exchange contact details and can complete the transaction through the company's SafePay service, with buyers expected to pay in full within roughly a week.

The company also offers ancillary services and integrations, including professional photography for sellers, shipping quotes on auction pages, and financing through a partnership with LightStream that lets bidders check rates and apply for a loan directly from a listing.

Founding story

Automotive reviewer Doug DeMuro observed that enthusiasts were increasingly focused on vehicles from the 1980s, 1990s and later, but that no marketplace was purpose-built for buying and selling those cars. He first conceived the idea in 2019 and left his role as writer and editor of Autotrader.com's Oversteer blog to build the venture, launching Cars & Bids in 2020 with a team; the name echoes his "quirks and features" catchphrase. The first vehicle listed was DeMuro's own 2012 Mercedes-Benz E 63 AMG Wagon. DeMuro has said the first four or five months were the hardest, that the launch was announced publicly the same day the site went live, and that he personally set vehicle reserves for the first six months.

Business model

Cars & Bids runs a marketplace connecting private sellers and buyers of enthusiast vehicles. Listing is free for sellers, who receive 100% of the sale price; the company monetizes through a buyer's fee charged on winning bids. Related services include SafePay transaction handling, paid professional photography for sellers, merchandise, and referral-style partnerships for financing (LightStream) and shipping.

Revenue is derived principally from buyer's commissions on completed auctions. The site states a 5% buyer's fee with a $250 minimum and a $7,500 cap; press coverage in February 2025 referenced a 4.5% buyer's fee with a $4,500 cap, and noted that because revenue depends on buyer's fees, lower transaction values and higher no-sale rates reduce revenue.

Traction

The platform reported 4,000 cars listed and about $75 million spent by buyers in 2021. Around January 2023 it averaged roughly 25 auctions closing per day, rising to just under 30 per day by early March 2024, before slipping back with many February 2025 days falling short of 25 daily closings. Site-published cumulative statistics cite more than 36,000 auctions completed, over $800 million in vehicle value sold, a sell-through rate above 80%, and over 1.1 million registered members.

Latest developments

Reporting in March 2026 described Cars & Bids as having secured $55.5 million in new funding to support expansion of the platform's technology and services. In podcast remarks covered in 2026, DeMuro said he would not start another business, that he no longer handles day-to-day operations and focuses on video production, and that expansion beyond the platform's current enthusiast focus carries the risk of alienating its original audience.