Platinum tickets have been a rarity since the advent of the first cars.
But, according to Platinum Autohaus’ sales guru Adam Kowalski, they are on the rise again, with the first-ever platinum car sold for $1.9 million at a Car Show in Chicago.
The sale, held in May, saw a total of 3,828 buyers in a variety of different car types.
“People love to buy cars, and there is a real buzz in the market,” Kowalksi told Business Insider.
This is not surprising, as the platinum price has been increasing at a staggering rate, with many consumers paying less than $3,000 per car to get their hands on the coveted luxury.
In 2017 alone, the average value of a platinum car was $2.5 million, according a recent survey from GTM Research.
Kowalcsi said that the platinum craze in 2017 was partly fueled by a perception that the first car to go platinum could fetch higher prices, with buyers buying the cars they wanted, even if they had to pay a bit more for the privilege.
It was not just the first vehicle that went platinum.
Even with the high prices, Kowalis said, there are still many people that are still willing to pay higher prices than they would with a car of their own.
As for why people are still buying cars, Kowealski said that a lot of them are looking for the first chance to drive a new car.
They want to be able to go out and see the new car, and it gives them a bit of control, Kewas said.
And Kowalois said that people want to feel like they are buying a new vehicle that has not been touched by the dealerships before.
Platinum sales have also grown in tandem with a rise in demand for luxury sedans, Kowaalski noted.
Sales of luxury sedays in 2017 grew at a rate of nearly 9% per year, according data from Kelley Blue Book.
With the average price for a new BMW 3 Series starting at $32,000, the price of platinum vehicles has jumped to more than $4 million, Kwosas said, which is “a big increase.”
Kowealsi added that Platinum Autos is working hard to make the Platinum Cart Platinum.
There is a lot more to platinum than just a new model, Kwaes said.
Platinum is not just a name for an expensive luxury sedan.
More than one million platinum car sales took place in the United States last year, the company said.