Sales up, but prices down
Percentage sold stats are the most accurate weather check for the collector vehicle market, indicating whether vendors’ reserves are being met or rejected by consumers. Of the eight auctions I attended in April, sale rates varied hugely. CCA saw 73 per cent sold at the NEC on 1-2 April while ACA enjoyed the same percentage on 8 April in King’s Lynn. There was 70 per cent at Brightwells’ Bicester sale on 5 April and 67 per cent sold by Charterhouse at its 12 April sale in Shepton Mallet. Finally, there was a less bullish 54 per cent sold at Brightwells’ Modern Classics sale on 20 April in Leominster and a 47 per cent at Barons on 22 April at Sandown Park.
Final sets of post-sale inclusive prices confirmed by the auction firms reveal that 508 of the 758 classics available were sold at the April sales and an average of 67 per cent of cars auctioned are currently selling. With a total of £6.1m spent, an average of £12,001 is being spent on classics at auction at present.
By comparison, the percentages of cars sold in March ranged from the 82 down to 54 per cent. Brightwells led the way at Leominster on 8 March while Bonhams Goodwood (19 March) and Historics Brooklands (4 March both enjoyed 80 per cent. There was a 71 per cent figure from the Richard Edmonds Allington sale (4 April), 67 per cent at H&H Duxford (29 March) and 57 per cent at DVCA Athelhampton (2 March).
Although fewer cars were auctioned and sold during the March sales (when 389 of the 522 classics offered sold), the 74.5 per cent sale rate was actually higher and so was the £14.76m spent, with premium taken into account.
Bonhams’ £5.6m Goodwood sale and Historics at Brooklands £2.6m sale totals boosted both the gross spent and the average price paid in March to £37,935 per auction classic.
‘Percentage sold stats are the most accurate weather check for the market’