Market Intelligence
Small Auctions on the Rise: Iconic Shakes the Market with CCA Acquisition
Iconic Auctioneers delivered stellar results post-CCA acquisition, with a 40% revenue jump. Highlights included a £309,375 Ford Sierra RS500, rare RS200s, and a BMW 1602. A 1975 Lancia Stratos fetched £298,125.
It’s unclear whether we should consider the sale by Iconic in Birmingham on November 9 as the last auction by CCA – Classic Car Auctions before its acquisition by Iconic or the first under the new ownership. It matters little, given that the two companies were already connected. What stands out, however, along with Christie’s acquisition of Gooding, is the strong signal this sends: the leaders in the booming classic car auction market are flexing their muscles. This is a strong indication for the sector’s growth.
Either way, the results of this auction are very positive, undeniably a sign of good health: a 4% increase in cars offered (from 163 to 170), many more sold (+24%, 129 compared to 104), and a notable rise in the success rate, which climbed from a "decent" 63.80% to a "remarkable," to say the least, 75.88%. However, the real magic lies in the turnover; despite offering £1 million more worth of cars (from £8 million to £9 million), the total sales rose by over £2 million, from £5,513,851 to £7,718,053—a growth of 40% (and an average price that also increased by 13%).
