THE MARKET CONTINUES TO DISRUPT THE CLASSIC CAR AUCTION INDUSTRY WITH SEPTEMBER SALES RESULTS

THE MARKET CONTINUES TO DISRUPT THE CLASSIC CAR AUCTION INDUSTRY WITH SEPTEMBER SALES RESULTS

Classic car auction disruptor, The Market, achieved an industry-leading sales rate of 86 per cent during September with total sales of over £327,900, as well as a new UK record auction price for a 1975 Alfa Romeo Spider S2 2000 Veloce.

Described as possibly the best example in the country, the original right-hand-drive 1975 Alfa Romeo Spider S2 had been stripped back to bare metal and rebuilt to ‘better than new’ condition, with a blend of patinated original features and fresh parts. The Spider sold for £29,000 on the online auction platform, more than £12,000 above its lower estimate, securing a new UK record auction price for the model.

“September has been another fantastic month for The Market, with all but four of 29 cars selling on our online-only auction platform,” comments Tristan Judge, director, The Market. “The Alfa Romeo Spider S2 is a wonderful representation of the last month’s results, selling well over estimate and achieving a new UK record price.”

Also achieving a spectacular result, a 1967 Volvo 130 Amazon with £50,000 spent on a full professional conversion to full Road Rally/Regularity specification reached a final sale price of £38,000, more than double its pre-auction estimate. Sold as ‘on the button’ and ‘ready to go’, the Volvo Amazon had been prepared for competing at events such as Le Jog, Peking-to-Paris or Classic Malts.

Meanwhile, a restored 1982 Ferrari 308 GTSi proved the pulling power of The Market’s bidding platform by selling well above its lower auction estimate for £57,000, returning over £54,000 to the vendor. As a model which had failed to sell at other recent auction events, the final bid for this particular 308 GTSi was a significant £13,000 over the lower pre-auction estimate.

“These results prove that we attract high-quality vehicles and that when placing them before our buyers we are generating very successful auctions for both buyers and sellers. We’ve seen some genuine bargains sold on the platform this month, making for very happy buyers, but also very happy sellers, who receive 95 per cent of sale price, with many having struggled to sell their classics elsewhere by more traditional methods,” concludes Tristan.

Classic car owners looking to sell their car with The Market benefit from just 5 per cent sellers’ commission and no entry fee, while buyers only pay what they bid with no additional fees.

To see all the results from The Market’s September auctions visit https://themarket.co.uk/ or download the free app from Apple Store or Google Play.