Market Intelligence
Auctions. Good winds finally reach Europe
Silverstone Auctions online auction achieved remarkable success despite changing to an online format from an on-site format in 2020 and a web address change without prior notice. The percentage of cars sold increased from 58.16% in 2020 to 78.46% in 2021, with turnover more than doubling, and the average price per sale rose as well. The auction featured a 1972 Reliant Regal Supervan III used in the sitcom "Only Fools and Horses," two 2011 Ferrari 599 GTO models, an '87 DAM4100 Metro 6R4, and a 1998 Lotus Elise S1.
I was pleasantly surprised by the remarkable success of the Silverstone Auctions online auction, despite two potential handicaps: the first, having passed from 2020’s on-site format to 2021’s online equivalent, the other, they changed their web address from www.silverstoneauctions.co.uk to .com without warning, which created some problems when attempting to track them down! And yet, it was a resounding success. And it is great that Europe (Brexit aside) is sending out enthusiastic signs like this.
Compared to last year, they increased the percentage of cars sold from 58.16% (57 out of 98) to 78.46% (102 out of 130), with turnover more than doubling from €4,852,231 to €11,024,909 (£4,141,925 vs £8,538,178) against an estimate that grew +25%, €8,695,769 to €10,869,423 (from £7,529,000 to £9,411,000). If we add to this that the average price per sale also rose from €85,108 (£72,649) to €98,063 (£83,708), all the indicators are positive, as can be seen in our Dashboard.
