Col­lec­tors gain up­per hand over spec­u­la­tors

Classic Car Weekly (UK) - - Auction News -

In­clud­ing pro­vi­sional bids that have suc­cess­fully con­verted into post-sales, ACA’s clas­sic car sale to­tal has topped £2m with pre­mium for the first time. With 224 of the 278 cars auc­tioned in last Satur­day’s drive-through now sold, the sale rate, an all-im­por­tant barom­e­ter for whether ven­dors’ re­serves are re­al­is­tic or un­achiev­able, rose to a mar­ket con­fi­dence-boost­ing 81 per­cent.

The amount spent per clas­sic also in­creased, to an av­er­age spend of £9184 per car. The 1985 Audi quat­tro pic­tured be­low had re­port­edly done 103,000 miles and had a re­cent cam­belt change be­fore be­ing ham­mered away for £15,100, cost­ing £15,855 in­clud­ing ACA’s five per­cent buyer’s pre­mium – the low­est rate charged in the UK.

Si­mul­ta­ne­ously Coys auc­tioned 130 lots dur­ing a Satur­day af­ter­noon ses­sion at Techno Clas­sica in Essen. The fol­low­ing sales have been de­clared by the Rich­mond firm – 1987 Lam­borgh­ini Coun­tach 5000 QV €370,000 (£296,000), 1936 BMW 328 Roadster €260,000 (£208,000), 1959 Fa­cel Vega Ex­cel­lence €182,015 (£145,612), 1964 Alfa Romeo Gi­u­lia 1600 SS €107,000 (£85,600), 1972 BMW 3.0 CSL €103,685 (£82,948), 1966 Maserati Qu­at­tro­porte ex-Karin Aga Khan €86,900 (£69,250), 1977 BMW 2002 Turbo €64,000 (£51,200) and 1939 Fiat 1100 508C Con­vert­ible €32,998 (£26,398).

Coys’ next sale be­gins at noon at the Royal As­cot Race­course, Berk­shire. The top 10 run­ners are: 2007 McLaren-Mercedes SLR 722 Edi­tion (£330,000-380,000), 1962 Rolls-Royce Sil­ver Cloud II Drop­head Adap­ta­tion by H J Mulliner (£330,000-360,000), 1985 Lam­borgh­ini Coun­tach 5000 QV (£320,000-380,000), 1968 As­ton Martin DB6 (£300,000-350,000), 2009 Fer­rari 16M 7500m (£300,000-320,000), 1932 Bent­ley 4-Litre Sa­loon by Thrupp and Maberly (£130,000160,000), 1936 Bent­ley-Royce 8 Litre V12 Su­per­charged Spe­cial (£130,000-160,000), 1959 Jaguar XK150 (£100,000-120,000), 2000 Roll­sRoyce Cor­niche Con­vert­ible (£90,000-105,000) and 1964 Gor­don-Kee­ble (£90,000-105,000).

In his ‘For­ward’ mes­sage in H&H’s 19 April Dux­ford sale cat­a­logue, I see the Rt Hon Sir Greg Knight MP reck­ons that clas­sic cars have out­paced the stock mar­ket as in­vest­ments and con­tinue to out­per­form art, watches and gold.

New fig­ures from the His­toric Au­to­mo­bile Group In­ter­na­tional shows the clas­sic car mar­ket re­cov­ered some lost ground dur­ing March, but ended the first quar­ter of 2016 down 0.16 per­cent.

HAGI also re­ports that Euro­pean clas­sic car trade shows in Europe and across the globe showed a trend to more se­lec­tive buy­ing with a strong em­pha­sis on qual­ity, though high seller ex­pec­ta­tions based on un­re­al­is­tic price trends re­sulted in nu­mer­ous un­sold auc­tion lots.

In HAGI’s view col­lec­tors have up­per hand in this mar­ket as spec­u­la­tors go in search of un­taxed prof­its else­where.

Richard Hud­son-Evans has been re­port­ing on clas­sic car sales for more than 25 years.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.