Archive
22/09/2022
Bonhams in Beaulieu, what a pity we weren’t there!
The article reports on the results of the Bonhams car auction at the Beaulieu International Autojumble, the oldest car market in the UK. The auction saw 61 cars sold for a turnover of £2,138,973 against an original estimate of £2,410,500, a success for Bonhams. The article highlights the top lots, including a 1955 Aston Martin DB2/4 3.0 DHC in need of restoration, which sold for £172,500, a 1959 Aston Martin DB MkIII Sports Saloon that sold for £132,250, and a Rolls Royce 20/25hp Dreadnought Special from 1931 that sold for £155,250. The article also highlights two cars that were examples of practicality and ease of use: a Morris Minor Pick-up from 1967 that sold for £17,825 and a 1909 Daimler TB22 DHC that sold for £40,825.
15/09/2022
Gooding and RM: European ups and downs
Gooding and RM, two leading car auction companies, held two different auctions in Europe, with Gooding holding its auction in London, while RM held its event in St. Moritz. Gooding recorded an excellent result, with 78.37% of the cars sold, generating 78.08% of the estimated total value, equivalent to €26.5m (£23m). RM's auction, on the other hand, was less successful, with only 10 cars sold out of the 22 on offer and only 28% of the total value. The top lot at RM's auction was a 1936 Bugatti 57S Atalante, which failed to sell when offers stopped at €8,082,750 (CHF 7.8m). Conversely, Gooding's top lot, a 1960 Ferrari 250 GT SWB Competizione, sold for €8,960,250 (£7,762,500), exceeding the €7m-€8m estimate. The article suggests that the mismatch between the cars on offer and the type of buyers in the room may have contributed to RM's underperformance.
08/09/2022
Buying with reason. Insights from Pebble Beach
The article discusses the trends in the market for classic cars at the Pebble Beach auctions. The author examines 17 cars from various countries, indicating that the market is driven more by individual car history and characteristics rather than a particular model. The prices for classic Pre-War cars show a trend towards stability, while prices for Bugatti EB110 and Jaguar E-Type models have increased. Bonhams failed to sell their Jaguar E-Type Lightweight. Aston Martin DB5 once owned by Sean Connery was a hit, selling for more than its estimated price.
25/08/2022
Italians up and down at the Pebble Beach auctions
The article discusses the recent Pebble Beach auctions and analyzes the results of the sales of Ferrari, Lamborghini, Alfa Romeo, and Maserati cars. The author notes a decline in demand for historic Ferraris and speculates that the decreasing number of collectors who remember the 1950s, coupled with the high prices, may be the cause. However, the more recent models, such as the Testarossa from 1988 and the LaFerrari, did well and often set new records. The article also includes details of the prices achieved for several cars sold at the auction.
20/08/2022
Pebble Beach Auctions: almost 400 million $ in turnover but careful and selective buyers
The four Pebble Beach classic car auctions organized by RM Sotheby's, Gooding, Bonhams, and Mecum resulted in a global turnover of $397,797,610, with only RM Sotheby's achieving better results than in 2021. Many cars were sold beneath their estimates or remained unsold, indicating a deterioration in the relationship between estimates and real prices. The results suggest a slowdown in prices and that not every car automatically finds a buyer. In upcoming analyses, the cars will be divided by families to see how certain models maintain their solid positions while others are sliding back.
18/08/2022
Pebble Beach Auctions: The Great Barometer
This article explores the international classic car market during the Monterey Week auctions in 2022. The article begins by presenting a brief history of the event, with total takings from the auctions increasing from $14 million in 1997 to $330 million in 2017. The article then highlights some of the most interesting models up for auction, including a 1963 Jaguar E-Type Lightweight Competition, a 1999 Acura NSX Zanardi Edition, a 1955 Ferrari 410 Sport Spider, and a 1963 Mercedes-Benz 300 SL Roadster. The article concludes by speculating on whether the classic car market has reached its peak or if the growth is just beginning.
11/08/2022
H&H and SWVA: Don’t tell them Pebble Beach exists!
This article discusses the recent auctions held by two different auction houses, SWVA and H&H, and the wide range of prices at which cars were sold. The auctions offered cars from pre-war to modern-day models, and the prices varied from as low as £5,062 to as high as £117,000. The article provides a detailed analysis of the auctions, including the number of cars sold, the turnover, the average price per car, and the most expensive lot. It also highlights some of the cars that caught the author's attention and their selling prices. Overall, the article emphasizes that there are opportunities for buyers to find affordable classic cars if they look beyond the high-end auctions.
04/08/2022
Barrett-Jackson and Mecum confirm the golden US moment
The article provides an overview of the recent Barrett-Jackson and Mecum auctions, which took place in Las Vegas and Harrisburg, respectively. The author compares the total sales, number of cars sold, and average car prices at both auctions.
28/07/2022
BaT. The Far side of the Moon
The article discusses the auction house Bring a Trailer (BaT), which specializes in online sales of classic and supercars. With a turnover of around $853 million, BaT outperforms major traditional auction houses such as RM Sotheby’s, Bonhams, and Gooding. BaT offers approximately 650 to 700 cars per week, with each lot having its own deadline. The auction house has developed a fair technique to prevent last-second challenges, and bidding wars can continue even after the allotted time has expired. BaT is famous for selling mid-priced youngtimers between $50,000 and $250,000. It has outperformed traditional auction houses in sales of Dodge Viper GTS, Acura Integra Type R, Porsche 944 Turbo, and Nissan Skyline GT-R. However, cars produced between the late 40s and mid-60s, which are the main segment of traditional auction houses, are less present on BaT.
21/07/2022