CCA’s £1.8m sales af­ter­noon

Classic Car Weekly (UK) - - Buying & Selling - RICHARD HUD­SON-EVANS Our man with his fin­ger on the international auc­tions pulse

While the busi­ness of gov­ern­ment has been demo­crat­i­cally paral­ysed by the elec­torate pen­cilling their prim­i­tive X in un­ex­pected boxes, CCA de­fied the eco­nomic malaise that has de­scended on most sec­tors in post-elec­tion UK by sell­ing 77 per cent of the 158 clas­sics of­fered for £1.8m in a very well at­tended Satur­day af­ter­noon ses­sion at the War­wick­shire Event Cen­tre.

Another market con­fi­dence­boost­ing statis­tic in Leam­ing­ton Spa was the 21 of the 122 sell­ers out-per­form­ing their pre-sale es­ti­mates on the day – no­tably, a Lam­borgh­ini Coun­tach 5000S Evo­ca­tion with a Lexus 4.0 V8 en­gine in the tail mak­ing £50,050 – £25,050 more than fore­cast. Other clas­sics that flew past their es­ti­mates in­cluded a 1970 Mercedes 280 SL, which fetched £62,700 (£7700 above guide), and a 1991 Honda NSX £41,250 (£5259 over es­ti­mate).

But although ster­ling-in­voiced clas­sics have never been bet­ter value for those pay­ing in dol­lars or eu­ros, few for­eign lan­guages are heard in the sale­rooms or on the phones be­cause most pop­u­larly priced stock is bought by na­tives who still have the con­fi­dence to con­sume.

Most al­ter­na­tive des­ti­na­tions for taxed in­come have never been less at­trac­tive, as even in­ad­e­quate re­turns from safe ISAs are wiped out by the re­al­ity of the lat­est in­fla­tion fig­ures. For due to the in­creas­ing cost of im­ports fol­low­ing the Brexit vote, UK in­fla­tion rose from 2.7 per cent in April to 2.9 per cent in May, the high­est sav­ings-erod­ing statis­tic in four years. May re­tail sales, mean­while, soft­ened by 1.2 per cent. Only risky eq­ui­ties, it seems, have out­per­formed other In­dices, the S&P Global 1200 putting on 1.78 per cent in May and grow­ing in value by 9.41 per cent in the year to date.

‘A Coun­tach evo­ca­tion with a Lexus V8 made £25,000 more than fore­cast’

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