The 9th of July marked the first proper ‘live’ Goodwood auction for the Bond St firm since the pandemic began.
The Goodwood auction star lots consisted of Lord Snowdon/Peter Sellers DB5 Convertible and a 1972 Alfa Romeo TT3 sports racer once owned by Martin Morris, Steve O’Rourke and Peter Read – which both failed to receive meaningful bids. The royal connections of the Aston Martin were not enough to spark interest in such a weak market at its price point. Although the Alfa Romeo was once owned by ‘royalty’ of the car collecting breed, it may have been better off sold by a specialist rather than at an auction.
THE DAY AT A GLANCE
Top selling cars of the auction included a 1928 Maserati Tipo 26B £967k gross, £850k net (est. £900k - £1.3m) and a Ferrari Dino 246/60 Formula £967k gross, £850k net (est. £900k - £1.3m), a Mercedes-Benz SLR McLaren 722 Edition Coupé with the engine not starting and liable to UK import tax sold way over its estimate of £180k - 240k for £287,500. As well as a DB4 series IV Special Series Vantage with one owner since 1970 and maintained by marque experts RS Williams but with a restamped engine, purchased well under its estimate for £327,750.
Another car that sold on the day was a manual DB6 Mk2 Vantage for restoration estimated to be sold for £110k which triggered a battle between specialists and hammered at £225k (£258,750 gross). In addition to this, a non-running automatic DB6 Vantage also sold for £89,000 net (£120,350 gross).
Of the Ferraris on auction, the ex-Pail Vestey F40 sold for £883,000 and the rare 575 M Superamerica for £379,500 (both prices include premium). The 250 GT Elena was unfortunately not sold on the day but sold two days later for £514,166 gross along with a DB6 which traded post-event for £124k all in.
Looking at these pre and post-pandemic figures show that auctions still have a place in the market for traders and car enthusiasts. Although there were fewer cars available for auction, auctioneers were ready to spend with a number of cars being hammered over the estimated auction price. Compared to 2019's figures the sell-through was better however the gross was the lowest recorded since at least 2013. The recent pandemic, tax implications of Brexit, the lack of big-hitting sure to sell lots and the absence of well-estimated, more modern cars such as GT Porsches could be just a few of the reasons why.
Have you attended any auctions online or in-person throughout the pandemic? If so let us know your experiences and how you think they performed compared to auctions pre-pandemic.