Bargain is a relative term, but Bonhams’ Revival sale demonstrated that it is still possible to buy a great car for sensible money and it is a relief to see that it is still possible (or should that be “once again”) to find good value at auction.
Overall results were very similar to last year’s sale and the auction house’s performance over time illustrates the analogy that a little bit of air has been let out of the tyres of the classic car auction market – you can see the trend in the graph below.
This can only be good news for enthusiasts and the results were encouraging despite a rain-soaked day at Goodwood.
Sales of note
Ferrari 275 GTB – RHD Classiche certified sold for £1.5 million prior to the auction. Reportedly sold to the trade – but why before the auction?
If you fancied a nice low mileage Ferrari 328 GTS there was one available and it sold under its estimate for a reasonable £86,620 inc premium. No need to worry about missing it as it is now available at Hexagon Classics for a still reasonable £119,995 – which just goes to show that the expert and well-informed bird gets the worm.
Ferrari 246 Dino GT – two owners, 25,000 miles. Very low estimate of £150,000 – £200,000. Sold on the hammer for £266,000 (£299,420 with premium). Sound good?
The Jaguar XK150 is a great classic to own and they don’t come any more exclusive than the 3.8S roadster (only 24 built). Bonhams offered what looked to a really lovely example which sold for £236,700 (inc premium) and we dare say the owner will be delighted with both the car and the price.
Porsche 550 RS Spyder – a new world record at auction selling for £4,593,500 inclusive.
Frazer-Nash Le Mans Replica – ex Roy Salvadori: sold with premium for £603,333.
Aston Martin DB5 – “used” is probably the best description and by all accounts a bit of a bargain at £455,100. The price leaves plenty of scope for any desired restoration – but let’s hope the new owner tries to keep it as it is.
Jaguar E-Type Series 1 3.8 “flat floor” roadster – freshly restored by XK Engineering and a price with premium of £253,500 shows there is life in the old cat yet. The car hammered at £225,000 – exactly its sensible mid-estimate price.
|Total vehicle lots||84|
|Sold over estimate||6||7.14%|
|Sold under estimate||33||39.29%|
|Sold in lower half of estimate||8||9.52%|
|Sold in upper half of estimate||6||7.14%|
|Sold in lower half of estimate or below||41||48.81%|
|Sold in upper half of estimate or above||12||14.29%|
|Sold at median estimate||0||0.00%|
|Sold within estimate – ACCURACY||14||16.67%|
|Total vehicle lots||83|
|Sold over estimate||9||10.84%|
|Sold under estimate||25||30.12%|
|Sold in lower half of estimate||11||13.25%|
|Sold in upper half of estimate||2||2.41%|
|Sold in lower half of estimate or below||36||43.37%|
|Sold in upper half of estimate or above||11||13.25%|
|Sold at median estimate||1||1.20%|
|Sold within estimate – ACCURACY||14||16.87%|