{"version":"1.0.0","episode":{"title":"How Bring a Trailer revolutionised the market, with Randy Nonnenberg and James Turner #306","url":"http://getcarcurious.com/episodes/how-bring-a-trailer-revolutionised-the-market-with-randy-nonnenberg-and-james-turner-306","audioUrl":"https://traffic.megaphone.fm/APO5060324538.mp3","description":"Dan Prosser and Andrew Frankel are joined by Randy Nonnenberg and James Turner, founders of Bring a Trailer and Sports Purpose respectively. How did BaT revolutionise the classic and enthusiast car market in the US, and why does it offer something completely different to other online auctions in the UK? Use coupon code pod20 at checkout to get 20% off an annual subscription to The Intercooler's online car magazine for the first year! Listen to this podcast ad-free, and enjoy a subscriber-only midweek podcast too. With a 30-day free trial, you can try it risk-free – https://www.the-intercooler.com/subscribe/ Find out more about JBR Capital here – https://www.jbrcapital.com Use coupon code Ti10 to get 10% off your Supernatural Car Care order – https://supernaturalcarcare.com/ \n"},"annotations":[{"startTime":15.7,"endTime":23.2,"type":"company","title":"Bring A Trailer","url":"/glossary/bring-a-trailer","quote":"Randy being founder of Bring A Trailer, the enormous online car auction\nplatform. And we want to hear all about the history of it.","canonicalId":"company:bring-a-trailer","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Bring A Trailer is an online auction platform focused on enthusiast cars. It helped popularize a more transparent, community-driven way to buy and sell used performance and classic vehicles.","simplifiedExplanation":"Bring A Trailer is a website where car enthusiasts bid on cars online. It’s known for having lots of detailed listings and a big community behind it."}},{"startTime":18.0,"endTime":23.2,"type":"concept","title":"online car auction","url":"/glossary/online-car-auction","quote":"Randy being founder of Bring A Trailer, the enormous online car auction\nplatform. And we want to hear all about the history of it.","canonicalId":"concept:online-car-auction","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"An online car auction is a structured bidding process where buyers compete digitally, usually with time-limited listings. For enthusiast cars, this format can change pricing dynamics versus traditional dealer sales.","simplifiedExplanation":"An online car auction is like bidding on a car through a website. People place bids, and the highest bid wins when the auction ends."}},{"startTime":34.26,"endTime":41.52,"type":"car","title":"Porsche 911","url":"/cars/porsche/911","image":"https://upload.wikimedia.org/wikipedia/commons/c/c6/2013_Porsche_911_Carrera_4S_%28991%29_%289626546987%29.jpg","quote":"big news as well that you'll share in a moment. James Turner, founder of Sports Purpose. If  you've been to Bist Emotion and you've seen a beautiful old 9-11 in a showroom or driving  through the site, it's probably because of Sports Purpose. And we'll explain why, what","canonicalId":"car:porsche:911","priority":0.5,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"The Porsche 911 is an iconic sports car known for its rear-engine layout and long-running design. In a showroom or enthusiast context, an “old 9-11” is significant because early examples are often highly valued and represent key eras of the model’s evolution. It’s the kind of car people discuss when talking about collectible history and what makes certain generations special.","simplifiedExplanation":"The Porsche 911 is a famous sports car made by Porsche. It’s known for having the engine in the back and for being a model that has been made for many decades. People talk about older 911s because they can be rare and collectible.","imageAttribution":"David Villarreal Fernández (CC BY-SA 2.0)"}},{"startTime":53.0,"endTime":72.1,"type":"company","title":"Reddit","url":"/glossary/reddit","quote":"The intercooler now has a Reddit page. It's the intercooler. The idea is that\nit's a place where people can gather to discuss everything that we do, whether that's our\nmagazine or this podcast or maybe the videos or events or whatever.","canonicalId":"company:reddit","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Reddit is a large online community platform where car enthusiasts can discuss topics in dedicated subreddits. Creating a Reddit page for “The Intercooler” helps build ongoing engagement beyond the podcast itself.","simplifiedExplanation":"Reddit is a website/app where people join topic-based communities. They’re saying the podcast has a place there so listeners can talk and share ideas."}},{"startTime":174.9,"endTime":241.1,"type":"concept","title":"classifieds","url":"/glossary/classifieds","quote":"...I was always looking, I didn't have any money, but I was looking at speedsters for sale and the local classifies. And it turns out once we put that in one place on Bring a Trailer...","canonicalId":"concept:classifieds","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Classified ads are listings published in newspapers or websites where sellers describe vehicles and buyers contact them directly. The hosts explain that early internet classifieds were fragmented and often had poor photos and misleading descriptions, which platforms like Bring a Trailer helped improve by centralizing listings.","simplifiedExplanation":"Classifieds are ads where someone lists a car for sale and you reach out to them. In the early days, the listings were often vague and hard to judge from the photos alone."}},{"startTime":236.2,"endTime":241.1,"type":"concept","title":"online auction","url":"/glossary/online-auction","quote":"But thankfully, the way Bring A Trailer has evolved and, and online auction has evolved and even classifieds, I would say, have gotten better...","canonicalId":"concept:online-auction","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Online auctions let buyers bid remotely on vehicles listed on the internet, often with photos, descriptions, and time-limited bidding windows. The segment contrasts early, fragmented listings with how modern platforms improved visibility and listing quality."}},{"startTime":417.6,"endTime":427.8,"type":"concept","title":"eBay","url":"/glossary/ebay","quote":"eBay was big and something called Craigslist was a free marketplace. And these were the places where stuff was buried.","canonicalId":"concept:ebay","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"eBay is a major online marketplace where many cars are sold via auctions or “Buy It Now.” The speaker references it as one of the big places where enthusiast cars were being found before Bring a Trailer’s model took off.","simplifiedExplanation":"eBay is a big website where people buy and sell cars online. The point is that before Bring a Trailer, cars were often buried there instead of being curated for enthusiasts."}},{"startTime":423.1,"endTime":427.8,"type":"concept","title":"Craigslist","url":"/glossary/craigslist","quote":"eBay was big and something called Craigslist was a free marketplace. And these were the places where stuff was buried.","canonicalId":"concept:craigslist","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Craigslist is a free classified ads platform where local sellers post listings. The speaker uses it to illustrate how cars were “buried” in less curated listings before Bring a Trailer helped surface them to the right audience.","simplifiedExplanation":"Craigslist is a website where people post ads for cars. The speaker’s point is that listings could get lost, and Bring a Trailer helped bring them to the right buyers."}},{"startTime":482.5,"endTime":500.9,"type":"concept","title":"online classified listing","url":"/glossary/online-classified-listing","quote":"we'd feature a car once it got some critical mass and that seller would have their car posted in a classified listing online for a week and it was quiet. Nothing would happen. And then it would get listed on and all of a sudden he'd get 20 calls and 20 offers","canonicalId":"concept:online-classified-listing","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A classified listing is a seller’s ad posted on a website where buyers can contact them directly. In this segment, the key idea is that Bring a Trailer’s exposure changed a listing from “quiet” to generating many calls and offers.","simplifiedExplanation":"A classified listing is just an online ad for a car. The point here is that once a car got featured, lots more people noticed it and started contacting the seller."}},{"startTime":571.6,"endTime":576.6,"type":"concept","title":"auction ideally would be the most efficient way to set price","url":"/glossary/auction-ideally-would-be-the-most-efficient-way-to-set-price","quote":"So we knew that auction ideally would be the most efficient way to set price and make it fair for everybody.","canonicalId":"concept:auction-ideally-would-be-the-most-efficient-way-to-set-price","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"The hosts argue that auctions can be an efficient pricing mechanism because multiple bidders reveal their willingness to pay. They also frame it as a fairness improvement versus other approaches where buyers and sellers negotiate without a competitive bidding signal.","simplifiedExplanation":"They’re saying auctions can figure out a fair price faster because several buyers are competing. Instead of guessing what it’s worth, the bids show what people are willing to pay."}},{"startTime":598.9,"endTime":604.1,"type":"company","title":"Pebble Beach tent auctions","url":"/glossary/pebble-beach-tent-auctions","quote":"...we took eBay's on the left. And the big, you know, pebble beach tent auctions are on the right.","canonicalId":"company:pebble-beach-tent-auctions","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Pebble Beach is a prestigious US concours and auction venue, and its “tent auctions” are known for high-end collector cars. The hosts use it as a reference point for traditional, in-person auction culture when designing BaT’s approach.","simplifiedExplanation":"Pebble Beach is a famous car event, and its auctions are known for rare, high-value collector cars. The hosts mention it to compare traditional auction culture with their online model."}},{"startTime":904.8,"endTime":910.2,"type":"car","title":"BMW E30 M3","url":"/cars/bmw/m3","image":"https://upload.wikimedia.org/wikipedia/commons/a/ad/BMW_M3%2C_BAS_24%2C_Brussels_%28P1170489%29.jpg","quote":"The other was an E 30 m three, that kind of went crazy.","canonicalId":"car:bmw:m3","priority":0.9,"confidence":0.92,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"The BMW E30 M3 is the first-generation M3 (E30 chassis), widely regarded as one of the most important driver’s cars BMW ever made. It’s also a collector favorite, so it’s a strong test case for whether an auction platform can generate excitement and bidding momentum.","simplifiedExplanation":"The BMW E30 M3 is an older BMW M3 that car fans love. They’re saying this particular car “went crazy,” meaning it drew a lot of bids.","imageAttribution":"Matti Blume (CC BY-SA 4.0)"}},{"startTime":936.2,"endTime":944.2,"type":"term","title":"credit card payments","url":"/glossary/credit-card-payments","quote":"we had never had credit card payments, we had never had anything. And we really in 2013, we really made it much more sophisticated.","canonicalId":"term:credit-card-payments","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Credit card payments” refers to enabling card-based transactions, which can dramatically increase participation by lowering payment friction. The speakers emphasize that they previously had no credit-card capability, making early growth harder."}},{"startTime":1013.0,"endTime":1017.5,"type":"concept","title":"red flag","url":"/glossary/red-flag","quote":"we won't let somebody say, you know, this car has no rust, because that's like immediate red flag like problem, right?","canonicalId":"concept:red-flag","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A “red flag” is a warning sign that suggests a claim may be misleading or that there’s a problem worth investigating. Here, the example is the seller claiming “no rust,” which the platform treats as suspicious given the car’s age and typical corrosion risk.","simplifiedExplanation":"A “red flag” is something that makes you pause and question what you’re hearing. In this case, claiming “no rust” on an old steel car can be suspicious, so BaT flags it for review."}},{"startTime":1179.8,"endTime":1185.6,"type":"company","title":"AutoTrader","url":"/glossary/auto-trader","quote":"Why would I do that rather than list it on [1179.8s] in the UK? We have AutoTrader. Yeah, absolutely.","canonicalId":"company:auto-trader","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"AutoTrader is a vehicle marketplace/classifieds site used in the UK (and also in other markets). The hosts compare listing on AutoTrader versus selling through Bring a Trailer’s auction format.","simplifiedExplanation":"AutoTrader is a website where people list cars for sale. The conversation is contrasting it with auction-style selling."}},{"startTime":1334.1,"endTime":1355.5,"type":"concept","title":"permanent online","url":"/glossary/permanent-online","quote":"...it's permanent online what you do, right? Like that's very different than auction where it a Jag goes across in two minutes and then it's out the door...","canonicalId":"concept:permanent-online","priority":0.5,"confidence":0.86,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Permanent online” refers to the lasting, searchable record of what was posted and when—photos, descriptions, and claims. The speaker argues this permanence discourages manipulation because the evidence can’t easily disappear after the sale."}},{"startTime":1385.9,"endTime":1422.8,"type":"concept","title":"price discovery","url":"/glossary/price-discovery","quote":"[1381.1s]  all these games being played. The positive of auction is for price discovery, an auction\n[1385.9s]  starting at $0 with no reserve is the most with honest bidding is the most pure way to find what","canonicalId":"concept:price-discovery","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Price discovery is the process of determining an item’s market value through real-time bidding and competition. In an auction context, it’s meant to reveal what buyers are actually willing to pay rather than relying on guesses or fixed pricing.","simplifiedExplanation":"Price discovery means figuring out the real market price by watching what people bid. Instead of guessing, the price comes from what buyers compete over."}},{"startTime":1775.2,"endTime":1780.62,"type":"brand","title":"Aston Martin racing","url":"/glossary/aston-martin-racing","quote":"And so I served my time in Formula One, worked for Aston Martin racing,","canonicalId":"brand:aston-martin-racing","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Aston Martin Racing is the motorsport arm associated with Aston Martin’s racing programs. Experience there typically involves performance engineering, race logistics, and development work tied to competitive racing.","simplifiedExplanation":"Aston Martin Racing is Aston Martin’s racing team/program. Working there usually means you’re involved with high-level performance and competition."}},{"startTime":1833.8,"endTime":1887.5,"type":"company","title":"Peter Auto","url":"/glossary/peter-auto","quote":"And we created the two-liter cup with Peter Auto. So we're now in our ninth season of a One Make series for early 911s.","canonicalId":"company:peter-auto","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Peter Auto is a motorsport organizer/promoter known for running historic and endurance-style events and series. In this segment, they’re tied to the creation and ongoing operation of the early-911 one-make racing program.","simplifiedExplanation":"Peter Auto is the company behind organizing these kinds of racing events. They’re involved in running the series they’re talking about."}},{"startTime":1833.8,"endTime":1840.0,"type":"concept","title":"two-liter cup","url":"/glossary/two-liter-cup","quote":"And we created the two-liter cup with Peter Auto. So we're now in our ninth season of a One Make series for early 911s.","canonicalId":"concept:two-liter-cup","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"The “two-liter cup” is a class within the racing program that groups cars by engine displacement (around 2.0L). Displacement-based rules create a more level playing field and make lap-time comparisons more meaningful within the class.","simplifiedExplanation":"The “two-liter cup” is a race class based on engine size. It helps keep cars more evenly matched so drivers can compete fairly."}},{"startTime":1850.8,"endTime":1856.0,"type":"term","title":"sub three minute lap","url":"/glossary/sub-three-minute-lap","quote":"There was a moment of great excitement at the Spa a couple of years ago because we wondered whether someone would do a sub three minute lap","canonicalId":"term:sub-three-minute-lap","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A “sub three minute lap” means completing one full circuit lap in under three minutes, a benchmark that depends on track length and conditions. The speaker uses it to describe a major performance milestone for the two-liter early-911 class at Spa.","simplifiedExplanation":"A “sub three minute lap” means the car completes a full lap in less than three minutes. It’s a sign of very fast driving for that track."}},{"startTime":1892.9,"endTime":1901.72,"type":"term","title":"on-board shot","url":"/glossary/on-board-shot","quote":"There is some footage, isn't there? I think it is one of your cars going up through O'Rouche. And it's an on-board shot looking through the screen.","canonicalId":"term:on-board-shot","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"An on-board shot is camera footage captured from inside the car, typically mounted near the driver or dashboard. It helps viewers understand braking points, steering inputs, and how the driver navigates corners.","simplifiedExplanation":"An on-board shot is video filmed from inside the race car. It lets you see what the driver is doing while they’re driving."}},{"startTime":1907.8,"endTime":1912.0,"type":"part","title":"multi-point cage","url":"/glossary/multi-point-cage","quote":"I had a multi-point cage and some other good bits on it. But yeah, it actually lays rubber as it goes into the left hander.","canonicalId":"part:multi-point-cage","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"A multi-point roll cage is a reinforced safety structure inside the cabin, typically made from steel tubing and triangulated at multiple mounting points. More points generally mean better rigidity and improved protection during hard cornering or impacts.","simplifiedExplanation":"A roll cage is a metal frame inside the car that helps protect you in a crash. “Multi-point” means it’s attached in more places for extra strength."}},{"startTime":1912.0,"endTime":1916.6,"type":"concept","title":"lays rubber","url":"/glossary/lays-rubber","quote":"But yeah, it actually lays rubber as it goes into the left hander. It's so sideways.","canonicalId":"concept:lays-rubber","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Laying rubber” describes tire smoke or visible marks from aggressive tire slip, usually during hard braking, acceleration, or cornering. It’s a vivid way to describe how much traction the car is using (or losing) while turning in.","simplifiedExplanation":"It means the tires are spinning or scrubbing hard enough to leave marks or smoke. It’s a sign the car is being driven very aggressively."}},{"startTime":1936.5,"endTime":1944.0,"type":"concept","title":"Le Mans Classic","url":"/glossary/le-mans-classic","quote":"Yeah, I raced one. Not one of those at the Le Mans Classic. In, god, 2010, I think.","canonicalId":"concept:le-mans-classic","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Le Mans Classic is a major historic racing event held at the Circuit de la Sarthe in France, featuring classic cars and drivers. It’s a key venue for seeing period-correct race machinery and understanding how cars were driven in their era.","simplifiedExplanation":"Le Mans Classic is a big event where older race cars go back on track. It’s one of the best places to see historic cars being driven hard."}},{"startTime":1985.6,"endTime":1989.3,"type":"company","title":"Gordon Murray cars","url":"/glossary/gordon-murray-cars","quote":"We've done some business with Gordon Murray cars as well, which has been pretty satisfying and interesting to work with them because I believe in those cars very much.","canonicalId":"company:gordon-murray-cars","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Gordon Murray Automotive (spoken here as “Gordon Murray cars”) is the company founded by F1 designer Gordon Murray, known for lightweight, driver-focused supercars. Mentioning it highlights that the business is working across both classic and modern, boutique-performance brands.","simplifiedExplanation":"This refers to a modern car company tied to Gordon Murray, the same person behind major Formula 1 design work. They make special, lightweight performance cars."}},{"startTime":2009.4,"endTime":2014.8,"type":"concept","title":"ABS and aircon and Bluetooth","url":"/glossary/abs-and-aircon-and-bluetooth","quote":"everybody now wants a 997 because it's got ABS and aircon and Bluetooth and all the things.","canonicalId":"concept:abs-and-aircon-and-bluetooth","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"ABS (anti-lock braking system), air conditioning, and Bluetooth are modern convenience/safety features that can strongly influence buyer demand for certain classic-era cars. The discussion suggests that many buyers want “classic looks” but also want contemporary usability and safety.","simplifiedExplanation":"They’re saying people want classic cars, but they also want modern features like safer braking, air conditioning, and phone connectivity. That’s why certain newer classics sell better."}},{"startTime":2188.7,"endTime":2195.1,"type":"concept","title":"VAT","url":"/glossary/vat","quote":"So yeah, it all works in in pound sterling now and all the VATs and different\n[2195.1s]  sort of stipulations that are required are all there built in.","canonicalId":"concept:vat","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"VAT (Value-Added Tax) is a consumption tax applied in many countries, including the UK. The platform is describing how it handles VAT and related compliance so UK transactions work smoothly.","simplifiedExplanation":"VAT is a tax added to purchases in the UK and many other countries. They’re saying their checkout and fees are set up so UK sellers and buyers don’t have to figure it out themselves."}},{"startTime":2917.5,"endTime":2922.8,"type":"term","title":"0% APR for 60 months","url":"/glossary/0-apr-for-60-months","quote":"Deal's so right, it almost feels wrong. The Hyundai getaway sales event gets 0% APR for 60 months plus zero payments for 90 days...","canonicalId":"term:0-apr-for-60-months","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"APR (annual percentage rate) is the interest rate used to calculate financing cost. “0% APR for 60 months” means the lender charges no interest over a five-year term, which can dramatically reduce total cost versus typical auto loans.","simplifiedExplanation":"APR is the interest rate on a car loan. “0% APR for 60 months” means you pay no interest for five years, which can make the deal much cheaper."}}],"speakers":[{"id":"s1","name":"Dan Prosser","role":"host"},{"id":"s2","name":"Andrew Frankel","role":"host"}],"transcripts":[{"url":"http://getcarcurious.com/episodes/how-bring-a-trailer-revolutionised-the-market-with-randy-nonnenberg-and-james-turner-306/transcript.vtt","type":"text/vtt"}]}