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Among H&H non-sellers at Stoneleigh, bidding fell short of the
£15,000 lower estimate for a 1958 Silver Cloud I and a 1932 Alvis
12/50 TJ Cross & Ellis Tourer failed to raise £20,000. A projected
£45,000 was not forthcoming for a customised DB7 in gold. A 1965
Jaguar E 4.2 Frua/Coombs Special Coupe could not attract £85,000 and
a 1929 Bugatti T40 Grand Sport £120,000.

Unsold historic event eligible competition classics during the Race
Retro auction included a brace of 1992 Argo JM20 Group C cars with
£140,000 lower estimate and a 1968 Ginetta G16 with £85,000
ambitions. A c1918 Minerva Aster Special could not raise the at least

MARKET COMMENTARY FROM resident analyst Richard Hudson-Evans
ClassicCarsForSale.co.uk

WHICH CARS ARE NOT SELLING AND WHY?

Although 230 or 71% of the collector vehicles entered for UK auctions
during March successfully changed hands, 94 or 29% of the consigned
cars failed to sell. For whilst we endeavour to record the details of
the cars that sell and the prices paid on this website, scant mention
is made of the non-sellers in sale reports and, correctly, little
credence should be given to final and insufficient bids declared from
the rostrum which may or may not be made in the real world.

Presuming that their pre-sale lower estimates were likely to have
been the reserves, and therefore the minimum amounts required by
their respective vendors, the following cars were among those lots
that returned home unsold…

In the Bonhams Oxford sale, the 2003/4 seasons XK Championship
winning 1954 XK120 Roadster race car failed to raise the £65,000
lower estimate. At Coys in Westminster meanwhile, a 1934 Rolls-Royce
Phantom II Freestone & Webb bodied Sedanca de Ville did not achieve
the £75,000 guide price, nor could a 1928 Phantom I Sedanca by Locke
raise the £70,000 minimum. Bidding fell short of the £45,000 guide
price of a 1985 Aston Martin V8 Vantage Volante and of £28,000
floated for a 1978 V8 Coupe to Oscar India specification. The £78,000
minimum required was also not forthcoming for a 1936 Riley Imp.

£50,000 required, a 1953 Cooper MG 1500 sports-racer £30,000, a 1966
Alfa Romeo Giulia Sprint GT to GTA spec £24,000, a 1971 Palliser WDB4
Ford 1.6TC single seater £24,000, a 1977 Toyota Corolla Levin rally
car £15,000 and a 1967 Ford Cortina GT rally car £10,000.

A variety and or combination of different reasons could explain why
nearly one third of all the cars currently being offered for sale at
auction in the UK do not sell. Although the type of motor car may
have become less fashionable or could be inappropriate for a
particular auction and/or its location, it is far more likely that
when a reserve cannot be achieved it is because the premium-inclusive
price required is totally unrealistic.

A guide price, often set by an auction house who may not have checked
out a consigned car in the metal, can be perceived to be far too high
by potential buyers during pre-sale viewing. Seriously disappointed
by the condition of a lot, if they don’t opt to keep their hands in
their pockets, bidders are likely to reduce their bids accordingly.
Indeed, compared to the generally high standard of presentation of
auction stock Stateside, where cars for sale are routinely detailed
during pre-sale preparation, the cosmetic condition of so many of the
cars in UK sales disappoints.
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