Fewer re­serve prices are be­ing met

Classic Car Weekly (UK) - - Buying & Selling -

Sale rates in public auc­tion are the most ac­cu­rate barom­e­ter of the true state of the clas­sic car mar­ket and the cur­rent trend seems to be that fewer cars are sell­ing – and, where they do sell, most are achiev­ing prices be­low their pre-sale es­ti­mates.

For the same week­end as the Goodwood Fes­ti­val of Speed, where Bon­hams sold 70 per cent of the 86 cars in its Fri­day sale, and 26 of them did not sell, there were buy­ers for only 52 per cent of Artcu­rial’s 122 cars on the Sun­day in Monaco, and 59 were un­sold.

Whereas the fol­low­ing week­end at Brook­lands, 101 of the 128 clas­sics con­signed by His­torics changed hands in Sur­rey dur­ing a 79 per cent-sold Satur­day ses­sion, al­though 27 of the re­serves set by ven­dors were too rich for the reg­is­tered bid­ders, more than 200 of whom were com­pet­ing for cars on­line. By the Wed­nes­day af­ter­noon at Leominster, how­ever, 75 of the 123 cars in the Brightwells sale sold, and on Satur­day af­ter­noon at Blen­heim, at­ten­dance in the Coys tent and sales ap­peared to be well down on past pitches there.

There were buy­ers for only 38 per cent of the 55 cars of­fered at Charterhouse’s Clas­sics at Sher­borne Cas­tle event. At Sandown Park the fol­low­ing Tues­day, Barons’ sale rate was 48 per cent, with the pre­mi­u­min­clu­sive prices paid for 15 of them ex­ceed­ing their pre-sale es­ti­mates. A re­stored 1970 Jaguar E-type S2 4.2 FHC sold for £6700 more than its £51,700 top es­ti­mate, and a mint and up­graded 1964 Jensen CV8 made £48,950, £950 above es­ti­mate.

These lower sale rates may just be a blip, al­though the glut of un­sold cars may be a timely re­al­ity check for auc­tion car re­serves, so many of which are no longer achiev­able.

‘The glut of un­sold cars may be a timely re­al­ity check for auc­tion car re­serves’

Jag made £6.7k more than top es­ti­mate.

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