Manheim auctions are wholesale (dealer) auctions and the MMR reflects wholesale values. There are other evaluators that indicate retail values. One thing that can be gleaned from both evaluations are trends if you are following a particular vehicle like the Hellcats.
Lots of things go into auction prices and the initial decision to place the unit there. But the choice pieces do not typically go to a wholesale auction. Why would a dealer take wholesale money, less fees and transportation, for a unit that is truly retail ready? There is always a reason that an apparently good retail piece goes to a wholesale auction. A 1 (or maybe 2) owner Hellcat with no accident history would be much more desirable than the same unit with half a dozen owners or with an accident report. Or had significant warranty issues. The devil is in the details.
MMR is a very good indicator of wholesale pricing, but misses the retail money on solid, clean units unless the vehicle is in really, really limited supply. Early on, Hellcats brought retail plus at Manheim when they couldn't be found otherwise and 1 or 2 year old Hellcats would often have several prior owners (flippers) in short order. It was not uncommon to see Hellcats with 6 or 7 prior owners at Manheim by the time they were 2 years old. But those days are long gone.
I will just bet that if you look at the background of the Hellcats at the Manheim wholesale auctions today, you will find the reason they are there, rather than on a dealer's lot. Or in an owner's garage.
I will tell you this; I would be very interested in a one (or 2) owner, accident free Hellcat with 34k for $38k. But it is highly unlikely that is what was sold at Manheim.
Buy a lot of cars there. You would be surprised what really nice stuff does there. And guys know if something is very nice or not. Really nice stuff does ALL the money…
Many dealers are on a 90 day turn cycle. If it sits on a lot 90 days and doesn’t sell, off to the auction it goes. Many such units have obviously already been fully serviced and are 100% ready to go.
Nice stuff.
Couple years ago I was looking for a Ram 2500 crew cab 4 by 4 to pull my race car. Found a nice 90k mile 2009 hemi unit, one owner, nice truck. Slt crew cab, maroon in color.
I booked it out, retail was like 16k on it at the time. Wife stays home on Fri mornings and bids on cars I give her the figures on I have previously looked into and booked out.
I told her I really want that truck, go to 14k on it, time I pay auction fees and transport I would have 15 in it, and still have to service it. But I wanted it.
Well….It did 22,000 dollars “ wholesale” 6 grand over retail. That was admittedly an outlier, but I see stuff do over retail all the time.
Guys often bring stuff to the sale to “ retail” it. They get top dollar, sometimes just a trade in they clean up and flip, with no service done on it.
We specialize in Subaru’s. Can’t count the times I get one back here I have over retail in, especially really nice older stuff with low miles. And we do just fine on such stuff.
Can’t make a blanket statement about stuff. Every unit stands( or doesn’t stand) on its own merits
Watched a 2021 Hellcat at Manheim, PA with 3700 miles on it bust 75k couple weeks ago.
