The Auction Markets June - August Buyers Looking for Value in a Busy Market


There will be many professionals in the market who will immediately ask “What busy market?”  Well you could start at Historics at Brooklands last month.  At 9.15 the persistent drizzle had turned into a downpour and with a mix of marquee and outside display, the outlook did not look good.  But by 10.00 the sun was shining, the displays were busy with prospective buyers and Edward Bridger-Stille could afford some stabs at humour as he rattled through the first thirty lots.

 

And it turned out to be a good day – an 81% sales rate, some traditional auction madness as two bidders doubled the estimate of a Mini based on previous ownership by Madonna and some interesting market indicators.  Many of the lots were offered with no reserve and, together with other cars where a realistic perspective of bid vs estimate had been taken, it gave buyers a reason to assess value in what they were bidding for.

 

For Aston Martins, it meant that two realistically priced DB9 Coupes and a DB7 Volante all went to new homes but a restored V8 Series III that had been restored, but just missed the boat on detail, remained unsold.

 

Similarly, the star cars like the Ian Pitney Special Bentley did not find a new home but cars like a Mini Cooper Recreation Racer that was bid to £9400 against an estimate of £12 – 16,000 saw the provisional bid turn into a buy. 

 

We have been analysing the wider auction market since June from the Festival of Speed through to August’s  multi-million dollar bonanza that surrounds Pebble Beach and that value equation remains whether the asking price is £10,000 or $10 million.

 

And of course the other side of the Atlantic has seen “No Reserve” as a key sales tool and it was interesting to see the number of cars that even the arch traditionalists at Bonhams had on offer in that category at their Quail Lodge event.  With an 88% sales rate for cars offered, it may be something they will try again!  But the US market is really  booming 

 

Aside from a 1983 Lagonda, they offered their Aston Martins more traditionally with a DB4 not selling,  a DB6 Vantage achieving $341,000 and V8 Volante beating estimate at $231,000.  That Lagonda with no reserve – well that beat estimate selling at $90,200.

 

 

 

Goodings, in their normal understated way, had a pair of Aston Martins in amongst the massed ranks of Ferraris – a 1957 DB2/4 Drophead failed to sell but a Bertone bodied Spider soared to $3,080,000 including premium.

 

RM were also at Pebble Beach and sold a DB6 for $440,000 and a V8 Vantage Oscar India for $357,500 both again including premium.

 

Looking at the Astons put to auction from June to August:

 

Year

Model

Estimate

Achieved

Auction

1949

Aston Martin Le Mans Second Prototype DB2

£600,000 - 900,000

£605,000

Bonhams Goodwood FOS 24 June 2016

1960

Aston Martin DB4 Series I

$700,000 - 850,000

Unsold

Bonhams Quail Lodge 19 August 2016

1963

Aston Martin DB5 4.2 litre

£550,000 - 650,000

£550,000 bid

Bonhams Goodwood FOS 24 June 2016

1966

Aston Martin DB6

$450,000 - 525,000

$440,000

RM Auctions, Monterey 19/20 August 2016

1967

Aston Martin DB6 Vantage

$300,000 - 400,000

$341,000

Bonhams Quail Lodge 19 August 2016

1968

Aston Martin DB6

£175,000 - 205,000

£165,000

Bonhams Goodwood FOS 24 June 2016

1971

Aston Martin DBS Vantage Manual

£75,000 - 95,000

£70,310

Silverstone Classic Auction 30 July 2016

1977

Aston Martin V8 Saloon Series III Auto

£70,000 - 90,000

Unsold

Historics 20th August 2016

1980

Aston Martin V8 Series IV Oscar India

£95,000 - 110,000

£99,000

Silverstone Classic Auction 31 July 2016

1980

Aston Martin V8 Volante 

95,000 - 125,000 €

101,320 €

Artcurial, Le Mans Classic 9 July 2016

1980

Aston Martin V8 Volante 

$180,000 - 220,000

$231,000

Bonhams Quail Lodge 19 August 2016

1982

Aston Martin V8 Vantage Oscar India

$450,000 - 525,000

$357,500

RM Auctions, Monterey 19/20 August 2016

1983

Aston Martin Lagonda Sedan - no reserve

$60,000 - 80,000

$90,200

Bonhams Quail Lodge 19 August 2016

1988

Aston Martin V8 Vantage Volante X-Pack

800,000 - 1,200,000 €

Unsold

Artcurial, Le Mans Classic 9 July 2016

1990

Aston Martin Virage

£35,000 - 42,000

Unsold

Silverstone Classic Auction 30 July 2016

1995

Aston Martin DB7 i6 Manual

£18,000 - 22,000

£19,688

Silverstone Classic Auction 31 July 2016

1997

Aston Martin DB7 Volante, 14,000 miles

£32,000 - 38,000

£32,200

Historics 20th August 2016

2000

Aston Martin DB7 Vantage Volante

£35,000 - 45,000

Unsold

Silverstone Classic Auction 31 July 2016

2005

Aston Martin DB9

£29,000 - 34,000

£33,040

Historics 20th August 2016

2005

Aston Martin DB9 Coupe

£29,000 - 34,000

£35,840

Historics 20th August 2016

2005

Aston Martin DB9 Volante

£45,000 - 55,000

£49,500

Silverstone Classic Auction 31 July 2016

1957

Aston Martin DB2/4 Mark II Drophead Coupe

$450,000 - 550,000

Unsold

Gooding & Company Pebble Beach 20/21 August 2016

1954

Aston Martin DB2/4 Spider

$3 mil - 4 mil

$3,080,000

Gooding & Company Pebble Beach 20/21 August 2016

 

And that three month perspective is one that we have taken on the whole market and it is clear that, as auctions and Sellers have moved to letting the market set prices, as a result sales rates have risen and prices have evened out.

 

Auction

Total Cars Put to Auction

Sold

Sold%

Unsold

Unsold %

Value of sold units

Bonhams Goodwood FOS 24 June 2016

88

49

55%

39

45%

£5,763,250

Artcurial, Le Mans Classic 9 July 2129

113

69

61%

44

39%

€ 9,039,863

Barons Tattersalls Newmarket 12 July 2016

33

6

18%

27

82%

£289,350

H & H Chateau Impney 10 July 2016

72

28

39%

44

61%

£870,322

H & H Donington 28 July 2016

116

66

57%

50

43%

£674,255

Silverstone Classic Auction 30 July 2016

55

39

70%

16

30%

£2,172,040

Silverstone Classic Auction 31 July 2016

55

39

70%

16

30%

£1,591,713

Bonhams Quail Lodge 19 August 2016

115

101

88%

14

12%

$34,642,600

Historics 20th August 2016

131

106

81%

25

19%

£2,643,528

RM Auctions, Monterey 19/20 August 2016

100

82

82%

18

18%

$117,925,000

Gooding & Company Pebble Beach 20/21 August 2016

137

111

81%

26

19%

$129,280,450

 

 

We are continuing to keep you in touch with the Aston Martin market but we will also maintain our analysis of the wider market to make sure that we and our clients are well prepared for what is to come.

 

© BYRON INTERNATIONAL

 


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