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US website, which sells the coolest cars, may kill auction houses' business

If wealthy collectors can save money buying a classic car from an online auction community that they trust, why would they keep patronising traditional auction houses?

1972 Porsche 911 S Coupe: This vintage 911 comes with a five-speed manual transmission and four-wheel disc brakes. Price: $150,000-$200,000
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Hannah Elliott | Bloomberg
Eli Kogen lives the type of life about which many auto fanatics dream.

The twentysomething Arizona resident owns a members-only car club and a dozen special toys, including a big black Mercedes-AMG G 63 SUV, a Porsche 997 RS track-ready sports car, and a Lago Green 1956 Porsche 356, plus many high-powered and beloved Ducati motorcycles. He knows a prize when he sees it.

Kogen just spent $500,000 on a car he'd been coveting for years, a cherry red 1956 Porsche Speedster. It's not an unusual purchase for him, but how he bought it is a first: online, sight unseen,
Topics : Automobile

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