📍 ‘At classic car auctions, half the money is spent on cars. The other half is spent convincing your wife it was an ‘investment.’
At Bonhams’ Goodwood Revival sale, the catalogue was thinner, the reserves thicker, and even the blue-chip machinery looked nervous.
A brave Lancia went ‘no reserve’ and fetched half its estimate.
A Healey with a cracking backstory stole the show.
Rally cars? Forget it.
Sellers beware: buyers rejoice. The balance of power has shifted. And history, not horsepower, is now king.
2023 – The Benchmark
◼︎ Last year, Bonhams managed over £9 million. This year, a limp £5 million. Nervous owners kept their best wares in the garage, leaving the catalogue weaker than a hotel minibar martini.
Reserves Galore
◼︎ Roughly half the cars failed to sell. Almost everyone played it safe with reserves. One plucky Lancia owner rolled the dice with no reserve — only to see it hammered away for half the guide price.
Soft at the Top
◼︎ The priciest cars did find buyers, but at softened numbers. Proof, if needed, that even the grand marques aren’t immune to a chilly breeze.
History Wins
◼︎ The weekend’s darling was a 1950s Healey with provenance fit for a peer of the realm. Bidders piled in, driving it well beyond estimate. Clearly, a rich backstory now matters more than a big engine.
Rally Cars Falter
◼︎ The weakest results? Both rally cars are devoid of history. They trailed home like also-rans in a rain-soaked RAC Rally.
The Message
◼︎ For sellers: sit tight unless you must sell. For buyers: sharpen your pencils. It’s hunting season.
📍. ‘The catalogue is a work of fiction, the hammer price a work of art, and the buyer’s remorse entirely non-refundable.’
