Market Intelligence
Bonhams Greenwich. The key to success
Bonhams achieved a successful American auction in Greenwich, with over 80% of cars sold without reserve, resulting in 95% of sales and an average price per car of $105,761. The top lot was a 1929 Bentley 4 1/2 litre Tourer that sold for $604,500. Two Jaguar XK120s sold below estimates, with the coupe selling for $85,120 and the roadster selling for $66,080. The sale also featured a replica 1966 Fiat 500 Jolly that sold for $89,600, and a collection of four Facel-Vegas that performed well. A 1981 Porsche 911 SC Coupe also caught the writer's attention.
There is more than one key to success: Bonhams has however chosen the right one for the American auction in Greenwich (CT) which has not been held, in presence, for two years.
What are the ingredients? Well-chosen cars, over 80% without reserve (48 out of 59 offers) and correct evaluations that have allowed, with 95% of sales, to reach 106% of the estimated with an average price per car of $105,761 (€101,375). Last figure: only three unsold cars of the 59 offered.
