H and H Auction today!

[JamesBrown123]

I think its fairly safe to say that the arse has fallen out of the classic market given that virtually nothing is selling...

13 sold from 74 lots so far! High bids are all very low as well!

https://live.proxibid.com/BidderWeb/main.do?auctio...

[mikefacel]

JamesBrown123 said:

I think its fairly safe to say that the arse has fallen out of the classic market given that virtually nothing is selling...

13 sold from 74 lots so far! High bids are all very low as well!

https://live.proxibid.com/BidderWeb/main.do?auctio...

Wow, that's pretty devastating (although good news as far as I'm concerned - about time the bubble burst and maybe we can go back to people buying classics to use and enjoy rather than speculate and hoard). A lot of people on holiday at the moment though (especially those with kids at private schools) so that's probably having an impact.

[Uncle Ron]

Estimates too high. I was offered the 912E for £20k a few weeks back. High bid £23k which is £25 after premiums, shouldn't have been passed.

H&H are crap at advertising IMHO compared to the likes of Silverstone/CCA and the big boys, but do do a chunk of business post-sale.

[Pistom]

Series 1 E-type didn't go above £65K.

Ouchh.

[rubystone]

Pistom said:

Series 1 E-type didn't go above £65K.

Ouchh.

The Coupe? The 3.8 with 4.2 engine, Lhd shell from US? Might've been why. Estimates too high, no profit in any car for the trade, very few nice examples. Friend told me that the bidder who bid £10k below the low end of estimate on his car proved difficult to identify too. The cars that did sell either had no reserve or had owners who accepted the provisional bid. A handful exceeded reserve.

I personally thought that Simon Hope's replacement for the day didn't do half as good a job as Simon does too.

Perhaps we'll see more realistic pricing in their November sale?

Edited by rubystone on Wednesday 26th July 22:41

[Mr GrimNasty]

Most of the passed stuff made good money, sellers have unrealistic expectations.

They'll regret it in a few years when they can't even get a third of what they got there.

I've noticed a lot of adverts on the classic car sites saying reduced for quick sale etc. recently.

Smart money is thinking about, or actually getting out, I'd say.

[rubystone]

Mr GrimNasty said:

Most of the passed stuff made good money, sellers have unrealistic expectations.

They'll regret it in a few years when they can't even get a third of what they got there.

I've noticed a lot of adverts on the classic car sites saying reduced for quick sale etc. recently.

Smart money is thinking about, or actually getting out, I'd say.

Sellers must be guided by the experts. Otherwise what's the point in using an auction? But I do agree that the final prices claimed for many of the lots were realistic. We shall see whether the auction results reflect an aligning of the planets...

[rubystone]

anonymous said:

[redacted]

Lhd 60,000 miles, I didn't even bother to look at history. Belts are 6 years old!!! But again, bid to £40,000 which with commission etc is £47k which is right at the bottom estimate. £40k net is the right value on that car imho. From my records 87 cars failed to see the hammer brought down and of those 16 were classified as sold by the time the last lot sold. It'll be interesting to see what the results show. H and H do a good job of trying to close deals after the event.

[rubystone]

anonymous said:

[redacted]

Totally with you on the 911s. It's those that are paying £70k for low mileage SCs or high mileage turbos that will really suffer if prices drop.

[SDB660]

Must get in first with catching a falling knife anology.

[Mr GrimNasty]

Just realised how stupid my remark was - those passed prices were probably not actual bids - just the auctioneer/seller/rep bidding up to reserve trying to get a live bid, failing, and then passing.

I should know that by now!

[s m]

Should be some right bargains this weekend then if the OP is right

https://www.silverstoneauctions.com/the-silverston...

I wonder how much some of those will fetch

Mr Bean's LandRover for sale

[h0b0]

rubystone said:

From my records 87 cars failed to see the hammer brought down and of those 16 were classified as sold by the time the last lot sold. It'll be interesting to see what the results show. H and H do a good job of trying to close deals after the event.

The way they close the deal after the event is to reduce their commission on the sale. One wonders if some of the buyers/sellers are taking advantage of this. After all, no one is going to send their car to an auction house with a 10% sales record.

[golfer19]

Currently watching SWVA classic auction and most cars are selling above estimate although the estimates are low to begin with.
Probably set this way to get a bit of interest.

[Mr GrimNasty]

They always say that on Flog It!

Set the reserve too high, no one bids.

Set it low, people bid, get competitive against each other, and you achieve more than the higher reserve you originally thought of.

[Plinth]

h0b0 said:

The way they close the deal after the event is to reduce their commission on the sale. One wonders if some of the buyers/sellers are taking advantage of this. After all, no one is going to send their car to an auction house with a 10% sales record.

Their website is showing about half of the cars were eventually sold (or half were left unsold, depending on which way you look at it....)

[s m]

JamesBrown123 said:

I think its fairly safe to say that the arse has fallen out of the classic market given that virtually nothing is selling...

Silverstone Auctions seem to have sold some cars this weekend though?

[ecsrobin]

s m said:

Should be some right bargains this weekend then if the OP is right

https://www.silverstoneauctions.com/the-silverston...

I wonder how much some of those will fetch

Mr Bean's LandRover for sale

Prices now up. £23k for beans Land Rover.

Interestingly 1 lotus Carlton (low mileage) went for £70k the other was in the 20k area.

[s m]

ecsrobin said:

s m said:

Should be some right bargains this weekend then if the OP is right

https://www.silverstoneauctions.com/the-silverston...

I wonder how much some of those will fetch

Mr Bean's LandRover for sale

Prices now up. £23k for beans Land Rover.

Interestingly 1 lotus Carlton (low mileage) went for £70k the other was in the 20k area.

His Defender 90 went for £48k as well

Pay for his 110 I guess

[generationx]

Some of the prices at the Silverstone auction were ludicrous. How about fourteen and a half grand for a tool kit?

https://www.silverstoneauctions.com/complete-origi...