CAR AUCTIONS

williamsmix

williamsmix

Member
Messages
576
williamsmix said:
Talking of the depression of Coupe prices on the other thread, this doesn't bode well ...

www.carandclassic.com

Classic Car Auctions | Car and Classic

The cheapest, safest way to buy and sell classics online. 0% Buyer Fees. The only online auction to include free escrow for secure paymen...
www.carandclassic.com www.carandclassic.com
Click to expand...
So this made just over £6k after a last minute flurry of bids, to be followed by a Buy it Now listing at £9k. A 50% gap between the market and seller expectation ... Well, they did spend £12k having it repaired not so long ago, so on that basis it ought to be a bargain at £9k(?)!
 
Last edited:
dickygrace

dickygrace

www.richardgracecars.co.uk
Messages
7,340
£6k looks fair for that, early car, 95k miles, needs a lot of money spending.... £9k you'd have to be mad
 
breezer

breezer

Member
Messages
229
williamsmix said:
So this made just over £6k after a last minute flurry of bids, to be followed by a Buy it Now listing at £9k. A 50% gap between the market and seller expectation ... Well, they did spend £12k having it repaired not so long ago, so on that basis it ought to be a bargain at £9k(?)!
Click to expand...
We’re at the stage of the cycle where the investment geniuses can’t admit that they aren’t investment geniuses, so won’t adjust their pricing. That comes in due course, and prices will likely tank as everyone tries to get out at once.
 
williamsmix

williamsmix

Member
Messages
576
breezer said:
We’re at the stage of the cycle where the investment geniuses can’t admit that they aren’t investment geniuses, so won’t adjust their pricing. That comes in due course, and prices will likely tank as everyone tries to get out at once.
Click to expand...
Yes, I think that's the general direction of travel. It could be time to get out if you were in, say, a £2M F40 that you'd bought years ago. Such things still seem to be doing quite well on collectingcars, whereas something like the Maserati coupes (3200, 4200, GS) have taken a dive! It looks like some segments of the market will depreciate much worse than others. Some folk will have got in and out of their "Pagani Zondas" at the right time - and others at the wrong time (with hindsight) - but I expect that was mainly down to luck rather than any 'investment genius'. I watched someone bid £0.5M for a Ford Sierra Cosworth a few months ago at the Silverstone Auction. Not sure that was such a great idea now, but what do I know! LOL! Iconic Auction tomorrow and Harry Metcalfe was talking up the Fords ...
 
Last edited:
Ewan

Ewan

Member
Messages
6,815
I think you’re right. I can see the Iconic auction tomorrow doing badly. Maybe the odd highlight, but in general, a lot of no sales. Only a few hours to go…
 
williamsmix

williamsmix

Member
Messages
576
Ewan said:
I think you’re right. I can see the Iconic auction tomorrow doing badly. Maybe the odd highlight, but in general, a lot of no sales. Only a few hours to go…
Click to expand...
Just listening to it live now and I think you're about right - quite a lot not hitting reserve or just selling around lower estimate, but then they're usually quite optimistic with their estimates(?)! I was particularly interested to see what the 3 Ferraris would do: The 308 sold at £49k + premium against an estimate of £50-60k. The very low mileage 360 didn't sell at £70k against an estimate of £90-100k. And the 355 Spyder sold at £55k + premium against an estimate of £60-70k. Haven't crunched any data but my intuition is that segment of the market is already around 10-15% down on peak and I'm guessing it will fall further.

Last lot - ex Johnny Herbert Skyline - unsold at £45k against an estimate of £58-68k ... Nothing very iconic happening here today; they'll be hurting after that battering.
 
Last edited:
gb-gta

gb-gta

Member
Messages
1,139
How does their charging model work?
It says there is +15% on hammer price but then another +10% after that?
Surely they don’t charge 25%, that would be mental and no wonder cars don’t hit estimates.

Edit- just re-read it, seems it’s 15% for the first 300k them 10% above that, not in addition!
 
Last edited:
Ewan

Ewan

Member
Messages
6,815
What happened to the Alfa SZ and the Alfa Montreal? They both looked nice. Did either sell?

Just found it online. £58k and £66k. Pretty good I’d say.
 
Last edited:
MarkMas

MarkMas

Chief pedant
Messages
8,953
breezer

breezer

Member
Messages
229
gb-gta said:
How does their charging model work?
It says there is +15% on hammer price but then another +10% after that?
Surely they don’t charge 25%, that would be mental and no wonder cars don’t hit estimates.

Edit- just re-read it, seems it’s 15% for the first 300k them 10% above that, not in addition!
Click to expand...
Don't forget to add the seller's fee of 9% +£300 "catalogue fee".

So 24% + £300 in total.

This is obscene in 2023 when all industries are decimating middlemen. Trade Classics buyers fee is 5%+VAT and there's no % sellers fee!
 
williamsmix

williamsmix

Member
Messages
576
Watching this one with interest, which originally came to the market at just under £60k and then was gradually reduced to just over £50k before this eBay auction. It’s not just Maserati coupe prices that are in decline …
www.ebay.co.uk

Ferrari 360 3.6 Modena F1 2dr 1999 with only 26643 miles - Rare Ferrari Yellow | eBay

Find many great new & used options and get the best deals for Ferrari 360 3.6 Modena F1 2dr 1999 with only 26643 miles - Rare Ferrari Yellow at the best online prices at eBay! Free delivery for many products.
www.ebay.co.uk
 
dickygrace

dickygrace

www.richardgracecars.co.uk
Messages
7,340
williamsmix said:
Watching this one with interest, which originally came to the market at just under £60k and then was gradually reduced to just over £50k before this eBay auction. It’s not just Maserati coupe prices that are in decline …
www.ebay.co.uk

Ferrari 360 3.6 Modena F1 2dr 1999 with only 26643 miles - Rare Ferrari Yellow | eBay

Find many great new & used options and get the best deals for Ferrari 360 3.6 Modena F1 2dr 1999 with only 26643 miles - Rare Ferrari Yellow at the best online prices at eBay! Free delivery for many products.
www.ebay.co.uk
Click to expand...
£45-46k retail, early car, no. of owners??? Giallo Modena & F1.
 
You must log in or register to reply here.