Market Intelligence
Pandemia + Online Auctions = Deal Time
Classic Car Auctions is a "low-cost" auction house that appeals to a market that is often snubbed by traditional auction houses. At their recent auction, only two cars exceeded £50,000. Highlights included a 1981 Ferrari 308 GTS Carburettor that sold for just over €38,100, a 2001 Renault Clio V6 for around €24,900, and a 2000 Mitsubishi Lancer Evo VI Tommi Mäkinen Edition for the same price. The next auction is scheduled for mid-June.
Classic Car Auctions, the first “low-cost” auction house, a sort of Ryanair of the auction houses because it appeals to a market that is far too often snubbed and is, on the contrary, the true lifeblood of the world of collectibles; their slogan is “Everyman Classic” and they rarely accept cars worth more than £50,000. This time only two lots exceeded that figure. For the enthusiast who is not a magnate and for whom Pebble Beach appears only on glossy magazines, this auction is a veritable playground!
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Let’s start with an assumption: since they organize their auctions in the United Kingdom, almost all the cars for sale have the steering wheel “on the wrong side”. But not all of them and that’s where I would start looking. The first card from the deck I would like to draw is a Ferrari. Poof! The traditional Ferrari! Yes I know, this is the traditional Ferrari, a 1981 308 GTS Carburettor. This car was imported to England in 1997 from Holland (and therefore a left-hand drive version with European specifications) has 125,000km on the clock, received a full service 300km ago from QV London, booklets, invoices, etc. the usual for this type of car. It’s also the usual Ferrari red with a black interior. So what’s so special? Well, the common denominator of this auction: the low price. The car was sold for £33,480 which, at today’s exchange rate, means just over €38,100. It’s not a joke…
