Vintage car as an investment: collectors make millions loose again

Classic auctions

Vintage car as an investment: collectors make millions loose again

Vintage car as an investment: collectors make millions loose again-make
Press Inform Classic car auctions in the USA

  • Site author Stefan Grundhoff (Monterey, California)

Pandemic has put the international auction industry under a lot of pressure. Some collectors switched to the online auctions of the large providers-many did not buy at all. But now the trend seems to be turning.

Those responsible for two of the leading auction houses, Goodings and RM Sotheby’s should not be dissatisfied according to the most important auctions of the year. Goodings could implement more than $ 107 million at his auctions, which are carried out every year as part of the Monterey Autoweek; Almost 90 percent of the vehicles were sold. Ultimately, the direct competitor RM Sotheby’s was almost $ 150 million that are sold on three evenings.

Vintage cars are still a million business

After the most renowned auctions of 2020 were deleted due to pandemic and exhausting major events, the industry awoke back from its forced sleep and endless online auctions. Compared to 2021 there was an increase in Pebble Beach by around 37 percent. At RM there were even 91 percent successfully auctioned products.

Vintage car as an investment: collectors make millions loose again-loose
Press Inform US classic car auctions. Even rare small cars like the Nash Metropolitan (center) are sought

Anyone who visited the auctions of RM Sotheby’s in the Monterey Convention Center hardly believed their eyes, because the auction hall burst at the seams. The organizers and collectors were comparatively little for pandemic and risk of infection, because the distances were hardly greater than in previous years and a mouth protection only wore a fraction of the visitors to auction. In the case of goodings, traditionally on the site of the luxury slave of Pebble Beach, there was a strict mask obligation.

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Auctions also attract many newcomers

Neither demolition did the success of the auctions, and Bonhams, Russo & Steel or Mecum were the requests from collectors who could buy or sell. At RM Sotheby’s, the organizers speak of a "phenomenal auction" in 2019 after the unusual event in 2020 and sometimes tough sales in 2019, in which bidders from 34 countries took part. Noteworthy: Around every fifth customer was new. 44 vehicles changed an owner for more than a million US dollars, 16 of them were over the three million and four even cracked the five million dollar border.

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"This is another milestone for RM Sotheby’s, because we have achieved a result that is one of the three best Monterey auctions of all time," said Gord Duff, Global Head of Auctions at RM Sotheby’s, "Above all, this week showed this week that the market is more strong today than ever before and that collector vehicles from all over the world will find new buyers ready.

Vintage car as an investment: collectors make millions loose again-vintage
Press Inform RM/Sotheby’s classic car auction in the USA

We have once again proven that high -quality cars can be offered without reservations and achieve recorder results how many lots show in this auction." The most expensive model was an Aston Martin DB4 GT Zagato from 1962, which changed its owner for more than $ 9.5 million. Just behind: Two Ferrari 268 SP and 275 GTB, which could be auctioned for more than seven million.

McLaren F1 for $ 20.5 million

The top values were still significantly higher with goodings. Here the McLaren F1 from 1995 brought $ 20.5 million here. Also at the last event in 2019, a McLaren F1 had a best value with $ 19.8 million. A stately distance from the also highly traded Ferrari 250 GT LWB Spider with around eleven million. Also surprisingly expensive: one of the last produced Mercedes 300 SL Roadster with hardtop, which brought its owner over three million dollars.

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Historical small cars are also in demand

And even a Citroen 2CV from 1991 changed at Goodings for an impressive 20.000 dollars its owner. At Bonhams, a small Subaru 360 Deluxe for 16 went.$ 800 away. Spectacular: At the same auction, a 1928 Mercedes 26/120/180 Superchared S-Type changed its owner for $ 5.4 million. There was a new record for Japanese vehicles, because a Lexus LF-A Nurburgring was auctioned at RM Sotheby’s for $ 1.6 million.

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And with the excellent results from Monterey and Pebble Beach, it should not stay in 2021. All organizers expect an excellent year 2021 after the crisis year 2020 and predominantly online auctions. Especially the demand for younger classics and sports cars is greater than ever, while pre -war models alone are difficult without special history.

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