Cooler estimates are a hot tactic

But not even a ‘refer department’ smokescreen can prevent Bonhams’ Floydian slip

Abusy month has seen steady sale rates, though in general auctions seem to be losing steam in their second halves, with buyers leaving and more ‘no sales’. That said, Historics still posted a strong 77.4% sale rate, albeit aided by nearly a third of sales with no reserve. At Goodwood Bonhams offered only two cars with no paywall. The result was a 62.8% sell-through rate – more typical of what’s been going on elsewhere. On the plus side, realistic expectations made a welcome return, with nearly two-thirds of sales made within estimate. We’ve not seen that anywhere for a while. There was one big fail though. Offering a Ferrari F40 first owned by Dave Gilmour of Pink Floyd must have seemed like a dead-cert for Bonhams. ‘Refer department’ usually means ‘big payday expected’ – but a serious engine fire in the history of this plastic and carbonfibre-shelled supercar left bidders uncomfortably numb.

Bonhams’ high hopes for the Pink Floyd F40 quickly went up in smoke despite its £300k post-fire restoration; it’s now hotfooting it back to its Dutch restorer