Market Intelligence
Auctions: Cliff’s hidden gems
Exploring a diverse range of classic cars, this recap journey begins with a groundbreaking electric Corvette auction, raises the bar with a record-breaking Peugeot 205 Turbo, and navigates through the enchanting stories of a Ferrari 250 SWB.
Before the Pebble Beach auctions, it’s time once again for our traditional rendezvous with “What have we missed”, a recap of what has happened – but also what we haven’t had room to discuss – over the last few months.
This time, we have an array of cars spanning over a century and with prices ranging from a few thousand pounds to tens of millions. It’s up to you to decide what to go for, based on your tastes and budget.
Our approach is to start with the older sales and work our way up to those of just a few weeks ago. So, let’s begin with the first example of the Chevrolet Corvette E-Ray, due to enter production in 2024. The occasion was the twentieth Barrett-Jackson auction in Palm Beach (FL), on 15th April. As is often the case with this auction house, the first series-produced electric Corvette was offered without reserve and with all proceeds going to charity. Therefore, the value itself was not very significant, but nevertheless it changed hands for $1.1 million. Interestingly, last year, the first Corvette C8 Z06 (also from B-J, also for charity) changed hands for $3,700,000. Perhaps the foundation was different, but it’s plausible collectors aren’t quite ready for a plug-in supercar.
