Dear Classic Car Enthusiasts, Collectors and Followers,
What a classic month August has become - from the centre stage of glamour, action and passion that is Monterey’s spectacular week, to the hype and memorable auctions staged by the top operators in the industry.
The Monterey auctions, held by the main players in the auction world, offered some of the most desirable and well-prepared cars ever going across the block.
This is the month when the world’s classic car market is judged, and many values are put to the test with some very interesting results.
As always, you never know what is going to happen next. Many predicted outcomes would have made sense, but it all depends on how many people want the same car. That’s what inflates values, and this summer we witnessed some exceptional cars fetching eye-watering prices.
Firstly, though, a big round of applause must go to Ferrari, RM Sotheby's and Sholto for the charity auction of the Ferrari Daytona SP3, which raised an incredible $26,000,000 (USD); truly amazing.
Ferrari seems to be the topic of conversation with some impressive results in this unpredictable market. Some listings performed a little better than others but now the tone has been set.
The display at this year's Pebble Beach Concours was just spectacular, along with The Quail and many other overlapping gatherings during a week-long classic car entertainment.
Then, back to reality (or maybe not), as the last Silverstone Classic took place in the UK. Next year, the legendary event turns into a food, motorsport and music affair. Let’s just hope the classic motorsport side we all love is not forgotten.
The revamped Salon Privé, cleverly avoiding clashes with other events, was the place to be in this diary of unique classic car festivals, raising the bar a little in the process.
We certainly did not expect 500 cars to go over the block in one weekend at the Iconic Auctions held at Silverstone, managing strong results, which just highlighted what is doing well at present and what is struggling. However, just to be clear, not all the cars were of Monterey quality, with many results only making sense if you managed to see the offerings in person.
Looking ahead, next month remains packed with events such as the new concours in Holland, Wheels Mariënwaerdt and, of course, the evergreen Goodwood Revival back in the UK.
WHO SAID THE CLASSIC CAR MARKET WAS DOWN?
With all this classic car mania going on, let's not rush into buying the wrong car. Do your due diligence, seek advice, and – whether buying or selling - don't just go to the first auction house, shop around and make sure you make the right choice.
If you need help with buying, selling, or a restoration project, we are here to assist.
Just be careful.
Safe and happy motoring
Keith
keith@classicmobilia.com +44(0)7889 805432 +44(0)1908 270672 www.classicmobilia.com About Keith:
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