CLASSIC CAR AUCTION DISRUPTOR, THE MARKET, ACHIEVES RECORD SALES FIGURE IN OCTOBER

CLASSIC CAR AUCTION DISRUPTOR, THE MARKET, ACHIEVES RECORD SALES FIGURE IN OCTOBER

Classic car auction disruptor, The Market, has achieved industry-leading results once again with a sales rate of 80 per cent during the month of October, whilst also achieving its highest ever total sales of £486,485.

“October has been a fantastic month at The Market with a record-breaking total sales figure approaching half a million pounds,” comments Tristan Judge, director, The Market.

“We also had a wonderfully varied selection of no reserve cars last month, which demonstrates not only the quality of lots for auction but also the confidence of our customers in our online platform and app. Like the original, online-only classic car auction house, our results show that we are continuing to out-performing many traditional auction houses.”

Highlights of the October auctions include a restored, right-hand drive 1964 Jaguar E-Type S1 3.8 FHC finished in Dark Blue with matching leather interior, which had spent the majority of its life in the warm Cypriot climate. Offered at no reserve, the E-Type sold after more than forty bids for £61,513.

Another E-Type, also offered at no reserve, was a right-hand drive 1972 Jaguar E-Type SIII V12 FHC  in Ascot Fawn with a red leather interior in wonderfully original condition. Also benefitting from dryer weather conditions having spent 42 years in Arizona, it sold for £38,900.

From another famous British marque, a 2013 Land Rover Defender 110 TD Utility Wagon, used by the British Red Cross and complete with full-length Patriot roof-mounted storage rack, cage storage, tow-bar, ladder and a host of other practical features, sold for £23,400.

“We believe that auctions deliver the correct, current value for a classic car, especially when accompanied by accurate estimates. We’re continuing to see consistent, high sales rates month by month as well as increasing demand from customers to sell with us,” concludes Tristan.

Other October results include a low ownership, US market 1967 Austin-Healey 3000 MK3 which sold for £28,745, a 1994 Porsche 968 Sport, the second-to-last car to roll off the Clubsport/Sport production line, which sold for £15,637, and an exquisitely maintained 1993 Jaguar XJS Convertible 4.0 Auto which sold for £12,000.

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 fees.

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

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

EXCELLENT PROSPECTS FOR UK CLASSIC CAR SALES IN EUROPE

EXCELLENT PROSPECTS FOR UK CLASSIC CAR SALES IN EUROPE

2011 Porsche 997 GT3 RS 4.0 sold to Spain for £312.700

The current position of sterling against the Euro is bearing significant fruit for the UK sellers of classic cars which are being purchased by enthusiasts from across the European Union, says International auction house COYS.

Chris Routledge from COYS said: “ Our recent results at Blenheim Palace, with the pound at €1.11, proved to be the tipping point for the European buyer with a noticeably higher than average sale rate of cars being shipped to European countries.

He added: “ This was noticeable as well with the number of absentee bidders from the Continent, both via the telephone and the internet, so the possibilities for selling Sterling cars on the ground in Europe has become very attractive indeed.

“ As a result of this opportunity, we have made special arrangements for discounted transport so that UK sellers can sell their classics at our next International auction at Schloss Dyck in Germany on August 3rd.”

Chris said: “ This event is the jewel in the crown of German motoring events and UK sellers should take advantage of the strength of the Euro and the discounted transporter arrangements which will allow them copper-bottom their chances of selling their classic or specialist car.”

Routledge said that the current position of Sterling against the Euro was bearing significant fruit for UK sellers of classic cars, which are increasingly being purchased by European buyers.

He added: “ Our recent Blenheim auction saw a significant upsurge in European interest, but what was particularly noticeable was the number of multiple purchases being made by single European purchases.

“ One gentleman from France came to the auction form Marseilles and bought four cars, and was looking to buy more if he could. His purchases included a Jaguar E-Type, a Mercedes 230SL, a Fiat 500 and a Ferrari 308. A German buyer, brand new to the classic car market, arrived and registered on the morning of the sale and purchased a Lamborghini Jalpa and a Maserati Merak. A De Tomaso Pantera was sold to Germany in an auction room bidding war between two Germans that left any English buyers in the dust.”

 Chris said: “ The strength of the Euro against Sterling has undoubtedly created a very advantageous buying climate for European classic car collectors, with not only sensibly priced cars but with the current exchange rate being perceived as being at least 25% discount against European asking prices. “

 He added: “This is a unique set of circumstances – an alignment of the planets if you like. The quality of the stock in the UK is of the highest international standard, European buyers know It and are very keen to get their hands on it, as with current exchange rates, the prices could not be more attractive.

“ For UK sellers of classic cars and other collectables who wish to sell in Sterling to European collectors, the outlook is very strong while these exchange rates continue, and they should consider grabbing hold of this opportunity while they can. We live in very interesting times.”

NEW SALES, VENUES AND THEMES FOR SILVERSTONE AUCTIONS IN 2019

NEW SALES, VENUES AND THEMES FOR SILVERSTONE AUCTIONS IN 2019

Silverstone Auctions has unveiled a host of exciting developments to its 2019 calendar including sales with new themes, new locations and new partnerships.

In total the auction house will host sales on six weekends across the year, kicking off with its first ever sale at Autosport International at the NEC in January. Following its well-established sale at Race Retro in February, a new sale of British marques is being introduced in May at a brand new venue, the magnificent Heythrop Park in Oxfordshire. The sale will be held in conjunction with the Jaguar Enthusiasts Club, giving it another new dimension which is sure to attract buyers and sellers alike.

“2018 has been another great year for Silverstone Auctions and we’re incredibly excited to be able to introduce a number of new sales, venues and partners for 2019,” explains Nick Whale, Managing Director, Silverstone Auctions. “As always, we’ll only be selecting the very best of breed cars to appear in our sales and we’re sure that these exciting developments will help us attract some of the very best classics available.”

In July, Silverstone Auctions returns to its spiritual home in Northamptonshire for its flagship sale at the world famous Silverstone Classic.

Following its successful debut as an auction venue this year, Silverstone Auctions will return to the Dallas Burston Polo Club in September for another exciting new event. The supercar weekend will see a dedicated sale of Ferraris take place in association with the Ferrari Owners’ Club GB on Saturday 21st September, with a dedicated Porsche sale in association with Porsche Club GB taking place the following day.

The auction house will then conclude 2019 with its return to the NEC Classic Motor Show in November.

“We’re delighted to be hosting auctions at some of the UK’s most high profile classic car events and prestigious venues,” adds Nick. “However, we will have limited spaces available at every one of these sales so anyone looking to submit an entry should contact us as soon as possible to secure a spot.”

For more information about entering a classic or any of Silverstone Auctions’ sales in 2019, visit www.silverstoneauctions.com.

Silverstone Auctions 2019 Sale Calendar

Autosport International Sale

12th January 2019

NEC, Birmingham

Race Retro Classic Car Sale

23rd and 24th February 2019

Stoneleigh Park, Coventry

A Sale of British Marques

11th May 2019

Heythrop Park, Oxfordshire

The Silverstone Classic Sale

27th and 28th July 2019

Silverstone Circuit, Northamptonshire

A Sale of Ferraris

21st September 2019

Dallas Burston Polo Club, Warwickshire

The Porsche Sale

22nd September 2019

Dallas Burston Polo Club, Warwickshire

NEC Classic Motor Show Sale

9th and 10th November 2019

NEC, Birmingham