One other factor, which is mostly speculation on my part, is that the collector car market in general has cooled down from the overheated post Covid days. Not that we are post Covid, but once that we could see the light at the end of the tunnel, Covid spending habits changed. Car guys with disposable income were ready to buy the car of their dreams after being without their hobby for a year. Not only that, but they couldn't spend money on expensive trips and other luxuries during Covid...even eating in a fancy restaurant was out. Bank accounts were fat. We see this spending surge in lots of other categories. Boat and RV sales have skyrocketed for example.
But maybe everyone now has bought that car they lusted after when paying more than the pre Covid market for it was no big deal and we are drifting back to a more realistic collector car market.
BaT RNM listings are up. This is strange for BaT since the payday for them is when the car sells and they collect the 5% from the buyer. There are so many sellers that want to use the BaT venue, that BaT can be super picky about reserve prices. If there is a chance the reserve might be too high and car won't sell, they won't list it.
I could be all wet (it's happened before
). Something to watch, however.