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Brightwells
How has the year been for Brightwells?
2018 has been a good year for us. Our new consignors have been settling in well and we now have comprehensive geographical coverage of the UK. Values have dropped a little, which obviously affects profitability, but that still remains positive and the addition of extra sales at Bicester has helped to grow the business.
In which part of the market was there growth?
I’m not sure if there has been much growth in any part of the market if the whole year is taken into account. Classics bought by enthusiasts have remained buoyant and in strong demand – some may have dipped a few percentage points, perhaps, but little, if any. As always, rare and exotic vehicles with cast-iron provenance are getting more expensive by the day as investors are happy to put money into those, but in contrast, those looking for safe havens for their cash are shying away from lesser examples.
Do modern classics work better now they’re in the Vintage and Classic sales?
We made the decision earlier in the year to reduce the number of sales to give us some breathing space. This meant combining the more the interesting modern classics across our other sales and so far has worked well. We need to keep the balance and not get too modern-heavy as it alters the nature and feel of the sale and puts off vendors who are entering older vehicles.
Why do you think you do well with Land Rovers and pre-war cars?
Brightwells, as Europe’s largest seller of used 4x4s, has fingers in many pies, including contracts to sell Environment Agency and MoD vehicles. Our customer base for Land Rovers is therefore truly international, and covers a much wider audience than the usual classic Land Rover market – hence we have historically done well with them. As to pre-war cars, our success comes down to the fact that we love them and understand why others do, too.
Will you be adding any other venues to your Leominster and Bicester locations?
Not at the moment. We own our Leominster facilities which, if anything, are probably under-utilised and it’s early days yet for our Bicester venue.
‘Cast-iron provenance is getting more expensive’