IT’S THE ENTHUSIASTS WHO MATTER

Auctioneer says that enthusiasts are picking up where classic investors are now leaving off

An online-only auctioneer has said that focusing on enthusiasts who only pay extra for the best classics has helped it achieve one of the auction world’s highest sale rates.

The Market said that only one of its cars – a 1969 Aston Martin DBS Vantage – failed to sell in January, leaving it with an 88 per cent sale rate with a total value of £284,667, despite not holding any on-site sales.

Tristan Judge, director, says today’s UK’s classic market can be a minefield as many poor-condition cars are offered – the relaxation of MoT test rules being a driving factor. However, cars will still sell if they are described correctly.

‘People who will put lipstick on a pig won’t bring their cars to us because if a car is rough we’ll describe it as such. Investors largely have gone and that means that it’s only enthusiasts who are out there. The Mr Right over-payer has gone while the enthusiast side, from pub meet-ups to Goodwood, hasn’t.’

The Market’s January sale rate puts it above auctioneers such as Charterhouse, which held a sale at the Great Western Classic Car Show earlier this month, and just ahead of the 82 per cent recorded by Anglia Car Auctions at its 25 January sale, but behind South Western Vehicle Auctions, which said driving its lots past the rostrum in front of buyers

(see last week’s CCW) helped it achieve a 95% sale rate.

Tristan added that, while he believes even the enthusiast market has slowed, he doesn’t think there will be major changes over the next five to 10 years – but he said there have been encouraging signs from would-be buyers since the New Year.

‘There is a lot of money in people’s pockets,’ he says.

One of The Market’s hits in January was this 1958 Volkswagen Beetle, which sold for more than a grand over its upper estimate.

its This Ferrari 308 GTB was sold highest-selling result, but below its estimate.