Market Intelligence
ACA in Norfolk: Little Budget, Big Pleasure
The ACA auction in King's Lynn saw rare, quirky vehicles and unexpected high bids, with an impressive 87.84% of cars sold, reaching £1.64 million in sales.
Americans divide the wealthy into two categories: the "new money", meaning entrepreneurs who have made their fortune through the internet, and the "old money", wealthy dynasties whose wealth is passed down from generation to generation. Neither of these groups were present at the ACA Auction on November 2nd. Here, it was enough to be “no money”.
As always in King’s Lynn (a small suburb of Norfolk, in the United Kingdom), the modest average price (£7,109 per car) led to a huge success: of the 263 cars offered, 231 were sold, with a sale rate of 87.84% and a total revenue of £1,642,198, nearly 30% more than the estimated £1,272,500 before the auction. These figures, moreover, weren’t achieved due to a large number of cars with no reserve—there were only 76, less than a third of the total.
