ONLINE CLASSIC CAR AUCTION DISRUPTOR THE MARKET ACHIEVES 89% SALES RATE IN AUGUST

ONLINE CLASSIC CAR AUCTION DISRUPTOR THE MARKET ACHIEVES 89% SALES RATE IN AUGUST

Online classic car auction platform, The Market, has achieved a sales rate of 89 per cent with total sales of over £418,000 during the month of August via its state-of-the-art online bidding platform and app.

Successfully selling 24 out of 27 classic cars offered, the online-only auction platform saw multiple cars sell over their pre-sale estimates, with a 1937 Rover P2 20hp Sports Saloon and period-correct 1959 Austin-Healey 3000 Mk1 among the highlight lots.

Tristan Judge, director at The Market, commented: “Despite the holiday period, August has been another fantastic month which has seen our sales rate continue at the around 90 per cent level, reaffirming the power and popularity of a convenient, online-only format. As usual, we’ve seen a fine variety of classics, young and old, change hands via our platform, which offers the most comprehensive and honest lot descriptions around, giving buyers confidence and transparency in what they’re bidding on.”

Headlining August’s sales was a multi-award winning 1937 Rover P2 20hp Sports Saloon in outstanding restored condition. Rescued from a garage in 1996, the matching numbers example finished in Admiralty Blue won eight awards in the space of two years and was treated to three restorations during its life. Presented in its exact original specification, it reached a sale price of £22,000 at auction.

A lovely, period-correct 1959 Austin-Healey 3000 Mk 1 from 27-year ownership attracted exceptionally high levels of bidding. Treated to a chassis-up restoration in 1993 and regularly driven, including on the school run, it was sold for an above-estimate £36,575 accompanied by a certificate confirming its original build specification from the British Motor Industry Heritage Trust.

Of the modern classics offered, a 2006 Ferrari 612 Scaglietti with a 5.7-litre V12 engine and semi-automatic ‘F1’ gearbox sold above its auction estimate for £57,000. Reading just 49,000 miles, the car was presented in nigh-on showroom-condition.

Other notable results from the August sales include a museum-quality 1991 BMW 850i Auto reading 57,000 miles sold for £19,500, a 1980 Porsche 911 SC project estimated at £12,000 to £16,000 that sold for £20,360 and 2000 Lotus Elise S1 Type 49 ‘Gold Leaf’ special edition, one of just 100 cars made, which sold for £16,500.

“The sales in August marked a key milestone for the company having now successfully sold more than 400 classic cars and returning 95 per cent of the sales prices to the vendors,” concludes Tristan.

Classic car owners looking to sell their classic benefit from just 5 per cent sellers’ commission and no entry fee, while buyers don’t pay any fees.

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

Source: The Market

A PAIR OF JAGUAR XJ220S LEAP TO THE TOP AT HEYTHROP PARK

A PAIR OF JAGUAR XJ220S LEAP TO THE TOP AT HEYTHROP PARK

Heythrop Park in Oxfordshire was the stunning new venue for Silverstone Auctions two sales, The Heythrop Classic Car sale and A Sale of British Marques, achieving a combined sale of over £2.1 million on Saturday.

With lots of interest both in the room, online and from around the world and in an unsettled market, a 51% sale rate was achieved with some very strong results for some very exceptional cars.

The Sale of British Marques opened with some very fast and furious bidding, as Jay Kay’s Mini was first off the block and being offered at no reserve. This car had attracted significant interest due to its ownership and unusual specification, a bar in the boot, Chesterfield upholstery and velvet curtains. It sold for an amazing £22,500.

Lot 423, the 1935 Bentley 7.4 litre V12 Special sold for an incredible £106,875, whilst Lot 409, the 1975 Jenson Interceptor Series 3 with just over 9,000 miles on the clock, sold for £62,250.

In association with the Jaguar Enthusiasts’ Club, the Sale of British Marques saw some outstanding cars achieving success with a pair of Jaguar XJ220s leaping to the top, both selling for over £300,000 including buyer’s premium. Lot 410 was the left-hand drive version achieving £303,750 and a new home in Europe, whilst the right-hand version, Lot 429, stayed in the UK and sold for £337,500.

Lot 404 the 1965 Jaguar E-type in original paint sold for £56,625 followed by an almost unrepeatable 1962 Jaguar Mk2 3.8 which had just 8,725 miles on the clock, found a new home for £69,750. Lot 436 the 1964 Jaguar E-type Series 1 which was sold as a restoration project for £69,750.

The Heythrop Classic Car sale which took place earlier in the day saw Lot 303, the wonderful 1967 Honda S800 which had attracted a lot of interest, sell for £17,325 followed by Lot 304 the 1975 BMW 3.0 CSi achieve £41,625.

Lot 313, the 1978 Ferrari 400 GT Series 1 sold for £41,063 and Lot 316, the 1988 Porsche 911 (930) Turbo Targa G50 which had also attracted a lot of interest both before the sale and on preview, sold for £78,750.

The Automobilia sale which opened proceedings achieved a fantastic sale rate of 81% with some very notable sales. The collection of signed photographs, Lot 142, sold for £1,560 and Lot 110 the multi-signed race helmet achieved a price of £1,320. Lot 106, the 1970 Beckmeter Shell fuel pump sold for a staggering £4,080.

Arwel Richards, Auction Manager for the sale commented: "It was the first time that we staged a sale at Heythrop Park and the glorious setting matched the quality of the cars we had on offer. The two XJ220s we sold showed that the market still appreciates rare and low mileage cars, with the 8,000-mile Jaguar MkII 3.8 smashing its estimate is another example.”

"As one of the few auction houses that offers immediate "buy it now" prices for cars that don’t sell under the hammer, the sales team worked throughout Saturday evening and Sunday and sold a number of cars in post-sale deals. In a market that is challenging, but showing signs of growth, we have adapted and implemented strategies to ensure we still provide the best service to vendors and buyers."

NOTE:

Prices quoted are inclusive of premium and exclude VAT

2019 Forthcoming Auctions

27th & 28th July The Silverstone Classic Sale – Silverstone

21st September A Sale Of Ferraris - Dallas Burston Polo Club

22nd September The Porsche Sale - Dallas Burston Polo Club

9th & 10th November NEC Classic Motor Show Sale - NEC Birmingham