Glossary of Terms

A list of terminology used on CLASSIC.COM, and their definitions. Including CMB, Market, and other automotive and financial industry terms.

CLASSIC.COM Market Benchmark (CMB):

The benchmark value for vehicles in a given Market based on data accumulated by CLASSIC.COM and calculated by a proprietary algorithm that takes into account volume and recency of each data point. CMB can be used to assess the performance of a market over a given time period. However, it does not represent the value of a specific vehicle. The actual market value for a specific vehicle may be higher or lower than the CMB, depending on various value drivers, such as the condition of the vehicle, mileage, location, etc. 

Market:

A grouping of comparable vehicles that have, at a minimum, the same Make, Model, and Model Generation. When relevant for purposes of valuation, a Market may be further segmented by Model Variant, Trim, Transmission Type, Body Style, and other factors. 


In addition to the terms above, below is a Glossary of terms used within the Automotive and Financial industries that are used in many of our Statistics and Data Reports.

Average Price: 

Average sale price of listings, typically related to a Market, Auction, or Time Period. Average Price is calculated by dividing the Dollar Volume by the Sold Listings

Dollar Volume:

The sum of reported sale prices, typically related to a Market, Auction, or Time Period. Dollar Volume is calculated by adding the final sale prices for all Sold Listings, as reported by the Seller. Some sellers include commissions/fees as part of the sale price, and some do not. If a sale occurs in a currency other than US Dollar, it is converted to US Dollar based on the conversion rate on the date of sale. 

High Bid:

In the case where a vehicle is listed at auction and does not meet Reserve, the High Bid is the highest bid received in that auction before it ended. 

LTM:

Abbreviation for “Last Twelve Months”

Reserve: 

A price value set by the seller of an auction at which the listing will sell. If an auction does not result in a bid that is equal to, or higher than, the Reserve, the lot will not be sold, and the result will be a High Bid

Total Listings: 

The quantity of vehicles that were for sale in a given Market, Auction, or Time Period –  regardless of if they sold or did not sell. This does not include lots that were withdrawn. 

Sell-through Rate:

The percentage of vehicles that were sold, typically related to a Market, Auction, or Time Period. Calculated by dividing the Sold Listings by the Total Listings

Sold Listings:

The quantity of sold vehicles included in a given calculation. This does not include vehicles that did not sell or were withdrawn. 


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