Market Intelligence
The auction forbidden for millionaires
The Anglia Car Auction in Norfolk, UK, is a haven for DIY enthusiasts looking to buy and fully restore a car, with 169 cars on offer for a total value of just €1,520,500 (£1,310,000) in February 2023. Despite the absence of a reserve price, the auction recorded a 92.9% sale rate and 129.77% of the original value, with prices exceeding their estimates by 30%. The average price per lot was €12,500 (£10,828), with notable cars including the 1973 Bond Bug 700 ES, 2004 Maserati Quattroporte, 1963 Volkswagen Beetle Limousine, and 1970 Cadillac Eldorado Coupé. The auction was a success with a healthy balance sheet, and 157 happy buyers left the event.
“Millionaires stay away!”, they should have put up a sign saying this outside the ACA auction at the end of February in Norfolk (UK). Anglia Car Auctions is one of the best kept secrets of the English auction scene, a veritable delight for true enthusiasts where, if you happen to be carrying a 1.5 inch spanner in your pocket you can make yourself more than a few new friends.
With 169 cars on offer for a total value of just €1,520,500 (£1,310,000) – an average of around €9,000 (£7,751) per car – it was a haven for DIY enthusiasts looking to buy a car and fully restore it. This auction house organizes classic cars sales like this four or five times a year. The atmosphere is not too distant from a cattle auction, with each car coming in and doing a quick spin, bidders on stalls made from galvanized steel making offers without too much fuss and storytelling. And away it goes, and on to the next lot.
