Market Intelligence
High fever on the passion thermometer
The Silverstone Auctions group recently conducted a successful CCA online auction, with 89% of cars sold for over 107% of their value. The auction's success can be attributed to the low cost of cars on offer, and the popularity of online auctions. The article then discusses five cars that were sold at the auction, including a 1969 Volkswagen Type 2 Westfalia Bay Window Camper, Jay Kay's first car, a 1972 BMW 1602, and a 1988 Ford Sierra Station Wagon Ghia 2.8 V6. The article highlights the unique features and history of each car, and how they contributed to the overall success of the auction.
Let’s be clear, the latest big hit of the British auction house Silverstone Auctions with its CCA online auction on 27thJune cannot be compared to the results of more glorified auctions, despite being very good. However, it is clear that online auctions have declared their absolute winner, and this is the Silverstone Auctions group.
Two numbers are more than enough to explain the result: 89% of cars were sold at over 107% in value. Even at the auction on 23rd May, they were unable to achieve this result, collecting “just” 98.72% of the estimated value.
The success of this auction could also be explained by the low figures required to take home the cars on offer: none of the cars were placed at over £80,000 and most were in the £10-20,000 region so buyers could bid freely safe in the knowledge that they weren’t committing their life savings.
