The ‘no re­serve’ gam­bles pay off

Classic Car Weekly (UK) - - Buying & Selling - RICHARD HUD­SON-EVANS Mar­ket up­dates from the man with fin­ger on the clas­sic pulse

Of the 63 cars in the Bon­hams cat­a­logue at the Spa Clas­sic 29 were of­fered with­out re­serve. And an­other 23 out of 161 at His­torics’ As­cot Race­course sale were sim­i­larly bravely auc­tioned, achiev­ing 100% sale rates for their ven­dors within 73% sold sales in Bel­gium and Berk­shire.

A No Re­serve 1958 MercedesBenz 300SL be­ing sold for €980,000 un­der the ham­mer, cost­ing the buyer €1,127,000 (£968,183 with pre­mium), was un­prece­dented in Euroland.

A pro-dusty 1967 As­ton Martin DB6 MkI auto, in­ac­tive since last taxed in 1982, and a barn-found 1972 BMW 3.0CSL Light­weight project were also ham­mered away for £145,200 and £52,800 apiece by His­torics at As­cot Race­course with­out their ven­dors hav­ing the com­forts of re­serves.

Apart from com­ing to mar­ket on a one-way jour­ney from a de­ceased es­tate, the main rea­son for auc­tion­ing any­thing with­out a safety net is, of course, to def­i­nitely liq­ui­date an as­set that may have be­come a li­a­bil­ity. The price achieved for a ‘n/r’ car may or may not be higher than if it had been of­fered a re­serve can also be gam­ble. For if un­sold, an en­try fee and re­turn trans­porter charges will still be in­curred, with VAT on ev­ery­thing.

Con­sumers can only hope how­ever that ‘no re­serve’ re­ally does mean that, and pun­ters who wave their bid­ding pad­dles only com­pete with other reg­is­tered bid­ders, rather than with ven­dors or fic­ti­tious of­fers taken from the prover­bial chan­de­lier.

Guar­an­teed in­come from sell­ing n/r lots will off­set some of the auction house costs and be ben­e­fi­cial to over­all stats. And 49 such cars auc­tioned in one week­end might be a cash-in­while-you-can sign­post for more bear­ish trad­ing con­di­tions on both sides of the EU Chan­nel.

‘This might be a cash-in-whileyou-can sign­post for more bear­ish clas­sic trad­ing’

Un­prece­dented: no-re­serve 1958 Mercedes-Benz 300SL made €1.12m.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.