Companies That Are Shaking Up the Collector-Car Market

We're following up on a previous article introducing the Keno Brothers Fine Automobile Auctions. Why? Because many people may have missed exactly how dramatically they are shaking up the Collector Car Marketplace

But it is also about the numerous shared similarities between how Garagistry empowers every Classic car owner and what the Keno brothers are doing to empower every bidder attending their auctions.

Their company was created to transform the way high-dollar value, fine collectible automobiles are bought and sold. The primary objective is to provide full transparency through the inclusion of extensive, high quality documentation typically unavailable to auction bidders. Apparently, they too have read the Burroughs Theorem:
Leigh Keno, Leslie Keno (L) Dana Mecum (R-Center Rear) & Garagistry Adviser David Burroughs (Far Right)


THE BURROUGHS THEOREM©
If Documentation Drives Credibility and
Credibility Drives Value, then
Value Drives Demand and
Demand Drives Revenue
Therefore, Documentation Drives Credibility, Value, Demand and Revenue
 
Garagistry was created to transform the way all Classic cars are documented and according to the owner's needs. Quickly assemble all aspects of your Classic and the experiences of ownership in "real time" using any web-enabled device. Details are automatically organized and protected within a private, secure digital account. Both companies provide future owners with detailed transferable records, for use as needed and to preserve automotive history.

Where we differ from the Keno's offering is you don't have to sell your Classic to use Garagistry. We provide our services to EVERY  Classic car owners and during all stages of ownership. Further, any variations of Collector cars are welcome, as long as it is 25 years old or older. And while we do focus on automobiles. Garagistry's services support all types of Classic vehicles; trucks, motorcycles, boats, planes... even your collection of WWII tanks.

THE DEVIL'S ALWAYS IN THE DETAILS
The Kenos have brought technology-based solutions to address two main issues. First, due to the lack of documentation, many potential buyers sit on the sidelines, unwilling to enter realistic bids in fear their purchase will end in ownership of a car requiring extensive restorative work or substantially over pay. This indicates a significant reduction in the bidder pool, which is often shrunk down to a handful of knowledgeable experts. These conditions could inadvertently impact realizable seller benefits.


Garagistry's technology-based documentation solutions overcome similar issues allowing each caretaker to properly assess rarity, quality, condition and value throughout the ownership period, up to and including the decision to sell. Potential buyers can receive access to the assembled vehicle history and documentation. Full transparency eliminates concerns driven by the unknown.  

"Transparency has long been missing from the collector-car auction world. When I read a description on a car I want to buy, I immediately say to myself, What are they not telling me? If a car has been repainted and not taken down to the bare metal, I would want to know that. It would make me trust the company even more to know that they are being as transparent as possible.” 

Secondly, and while Garagistry does not currently offer transactional features, the Keno's understand the common lack of documentation will almost definitely introduce a second wave of issues. Influenced by a number of conditions, including "post-purchase" advice, up to 20% of winning bidders (within the collector car space) fall into a "non-pay" condition, nullifying the sale. A portion of these bidders also includes similar conditions but are the result of being "under-qualified", meaning issues affecting the ability to complete the transaction remain hidden until after the hammer falls. 

The Keno's are addressing these "post-purchase" issues through the use of documentation before and during the sale and through the introduction of software technology proven to reduce these issues to an average of .15% (that's point-15%).

STRIKINGLY SIMILAR IN MANY ASPECTS,
THE KENO'S DOCUMENTATION MODEL FURTHER VALIDATES
 THE IMPORTANCE AND OWNER BENEFITS OF GARAGISTRY
 
There's an old saying, "Imitation is the sincerest form of flattery". As the first known company to offer every Classic car owner a subscription service to digitally organize, manage and protect Classic vehicle history and documentation, we are thankful to have the importance of what we are doing recognized by these highly respected experts and business owners. Additionally, we are pleased to add them to the growing list of experts who have already recognized Garagistry.

There's another old saying, "Success begets success", so we send the Keno's an abundant helping of well-wishes regarding their new venture and the inaugural event, "Rolling Sculpture". We look forward to reporting the results. 
 
Now, as the owner of one or more Classics, you may be like one of those bidders; sitting on the sidelines, wondering what your next step will be and how to leverage changing market conditions to your advantage. 

We make things very simple. Select the following link, register your Classic and spend the off-season organizing the details, records, photos and other associated documentation of each car.

David Burroughs is an avid motorsport and aviation enthusiast, founder and retired CEO of Bloomington Gold. He was responsible for pioneering Gold Certification judging, a process of evaluating a car’s level of accuracy compared to the day it left the factory. The Certification judging procedures became the benchmark for judging of all types of automobiles. 

A highly experienced automotive historian, Burroughs is now dedicating his time to research and document historically important Classics through forensic evaluations. Burroughs also spent part of his career at the Smithsonian Museum. In the following presentation from 2011. Burroughs reviews the importance of preserving a Classic vs. restoring it. 

Please visit this page to download a complimentary copy of "Against All Odds - The Ultimate L88".

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