H&H OVERHAULS ITS AUCTIONS
Stalwart joins the digital fray – but what does it mean for buyers and sellers?
One of the UK’S longestestablished classic auctioneers is overhauling its sales to respond to the growing trend for buying cars online.
H&H Classics, which celebrates its 30th anniversary next year, announced this week that it is replacing all of its calendar of online sales with a new rolling, round-theclock service instead, which will close on the second Wednesday of every month.
The Warrington-based auctioneer said that while it would allow sellers to get their classics on to the market more quickly, it would retain the same standards as its more traditional sales held at live venues, with the auctioneer taking care of providing HPI checks for cars, writing descriptions for the vehicles, and photographing lots ahead of sales. It also added that sellers will pay no fees for using the service, with buyers paying a flat 12.5 per cent fee for cars – or 15 per cent for motorcycles – plus VAT if their bid turns out to be successful.
Managing director, Colette Mckay, said: ‘This new platform is a much smarter, more efficient online service that operates constantly and is available whenever a client wishes to sell or buy.
‘Support for our online service has grown significantly so we felt that the time had come to offer a yearround service with no down time by offering timed auctions online.’
The new service is the first major change for the auctioneer since it was taken over by an employeeowned trust (CCW, 8 December) and follows moves by other auctioneers to increase their online-only offerings, including Bonhams purchasing online auction site The Market last April, Silverstone Auctions launching its Silverstone Digital service last November and Manor Park Classics holding its first timed online-only sale over the past week. However, H&H has also said that it’s committed to its traditional auctions too, with its first sale of 2022 being held on 16 March at the Imperial War Museum in Duxford.
Classic Car Weekly’s markets editor, Richard Barnett, said: ‘There’s an old expression that says “the customer is king ” and clearly H&H’S new direction puts sellers more in the driving seat. While the ‘real’ auctions remain the increasing acceptance of online sales shows how the market has evolved. What is impressive is that H&H can arrange photography – we all know how bad some owner’s snaps can be.
‘What’s particularly interesting, too, is that the auctioneer will handle buyer enquiries, write the car’s description and handle the post-sale transfer of funds.
‘It certainly looks tempting for intending sellers, especially as they don’t pay any fees. I’ll be interested to see how it performs this year.’
■ handh.co.uk