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How well
do classics sell at auction?
Richard Hudson-Evans contributes
some insightful pieces in Classic Car Weekly on the classic car market,
particularly sales at auctions. In CCW out today he focuses on the
proportion of cars offered for sale at auction that actually sell.
Whilst the auction houses provide good quality, professional services
in a competitive market, the costs of selling at auction are considerable.
See our article illustrating auction costs for the buyer and seller.
More
MGV8 Price Guide update
Last update to the end of April 2019 released early in May. More
Classic Car Weekly is a well regarded classic car newspaper
which comes out on Wednesdays providing news items, vehicle reviews,
auction news and private and trade adverts. More
Updated: 190724
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In
Richard Hudson-Evans'
article in his series a "week of looking at the market"
in the latest issue of Classic Car Weekly out today, his comment
is "fewer cars are being retailed and increased competition
between auction firms is resulting in larger and longer auctions
with markedly more cars being dispersed in the UK at no reserve,
where consigned cars are on a one-way journey to almost certainly
whatever is bid net of auction charges". He also notes
this has led to more competition, but the right cars are still
selling. His analysis of "the 10 sales (auctions) reviewed
during the six weeks of mid-summer, records 674 classics sold
from 1,094 offered for sale". Overall that indicates only
62% were sold at auction in that period.
His notes on the selling rates at auctions mention:
| Auction |
Sale
rate
|
H&H
Imperial War Museum |
68%
|
ACA
Kings Lynn |
79%
|
| Barons,
Richard Edmonds & Charterhouse |
51%
|
Brightwells
Leominster |
73%
|
Historics
Brooklands |
64%
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| Overall
sale rate |
62%
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