Donnington Auction

[Osmoliver]

ETA: Apologies for the typo in the title.

Hi all,

I was just having a quick look at the results from the Donington Auction here: https://www.proxibid.com/asp/Catalog.asp?aid=11125...

I'm amazed by the amount of cars that have been passed on. The Ferrari Mondial and Aston Martin Virage appeared to have reasonable reserves.

Should the classic car market be panicking?

Ollie

Edited by Osmoliver on Friday 20th May 17:03

[andyman_2006]

Osmoliver said:

Hi all,

I was just having a quick look at the results from the Donnington Auction here: https://www.proxibid.com/asp/Catalog.asp?aid=11125...

I'm amazed by the amount of cars that have been passed on. The Ferrari Mondial and Aston Martin Virage appeared to have reasonable reserves.

Should the classic car market be panicking?

Ollie

---

Maybe it's more the fact it was Donnington? I know at nec classic show very few passed and same for goodwood and brook lands auctions..maybe the local folk are not prepared to take a punt on much in that locality?

Was also surprised the rs500 didn't go as these seem to sell fast and at big money, notice the mondial was lhd, which would put me off even at £24k as £29k gets you a uk rhd car if you look at car and classic..and at a dealers.

Andy.

Edited by andyman_2006 on Wednesday 18th May 19:22

[The Mad Monk]

Osmoliver said:

Hi all,

I was just having a quick look at the results from the Donnington Auction here: https://www.proxibid.com/asp/Catalog.asp?aid=11125...

I'm amazed by the amount of cars that have been passed on. The Ferrari Mondial and Aston Martin Virage appeared to have reasonable reserves.

Should the classic car market be panicking?

Ollie

I expect most buyers had gone to Donington, that's why there were only a few people there.

[anonymous-user]

Same at the RM Monaco auction, some crazy prices fetched (for oddities), but most seemed not to sell.

[POORCARDEALER]

Cars not selling at auction is usually the first sign of a cooling market, next will be classic car dealers not offering any price when offered cars.


Edited to add: Just looked through the sale, very poor offering,with penty of cars which are not classics, ie Boxsters etc....some of the other cars were estimated way too high, more than retail price....theres a world of difference between an auction offering super rare cars which make record prices, and a sale struggling to attract interesting cars.

Edited by POORCARDEALER on Thursday 19th May 08:30

[Osmoliver]

andyman 2006 - Donington is slap bang in the middle of the country, I wouldn't expect it'd be only locals turning up. And £24k for a Ferrari sounds like a bargain to me; it's surprising no one bought it to ship to Europe for a profit or use it for a European driving holiday themselves.

The Mad Monk - Thank you for pointing out the typo, sadly I can't edit the title.

Trexthedinosaur - Interesting to hear it's not a one off.

POORCARDEALER - A lot of people have been predicting a market downturn for a while. Over the last year or so it's been these sorts of sales that have a huge amount of success though, usually 80% sold rather than passed.

[Hugh Jarse]

Lot 2 merc w108 was nice and bargain at £2k.
Interesting the 911 did not sell at £20k reserve, nor the Lotus 2+2 at £12k.
Perhaps the show was poorly attended for whatever reason. It is peak season though!

[Xpuffin]

We spent the day there.
A lot of cars were offered with high estimates which IMO is why a fair few were unsold.
I bid on 3 cars and didn't get close so I don't see a cooling of the market just yet.

[sim16v]

Hugh Jarse said:

Lot 2 merc w108 was nice and bargain at £2k.

Already back on Ebay and up to £3400, and with quite a way to go i'd expect!

Looks like the place to find bargains subject to having a low reserve.