It’s almost August, and you know what that means – classic car auction season.
Here’s a quantative look back at previous August events.
2016 Classic Car Auctions (August)
|Auction Start||Auction End||Auction Event||Auction House||Total Value Sales|
|20/08/2016||21/08/2016||Pebble Beach 2016||Gooding & Company||$129,604,950.00|
|19/08/2016||20/08/2016||Monterey 2016||RM Sotheby's||$117,897,500.00|
|19/08/2016||19/08/2016||Quail Lodge Auction||Bonhams||$33,922,300.00|
|18/08/2016||20/08/2016||Monterey 2016||Mecum Collector Car Auctioneers||$28,911,750.00|
|18/08/2016||20/08/2016||Monterey 2016||Russo and Steele Auctions||$10,164,930.00|
|06/08/2016||06/08/2016||Schloss Dyck||Coys of Kensington||$5,905,255.00|
|20/08/2016||20/08/2016||Weybridge August 2016||Historics at Brooklands||$3,585,322.00|
|27/08/2016||27/08/2016||King's Lynn August 2016||Anglia Car Auctions||$1,750,557.00|
|29/08/2016||29/08/2016||Sydney Winter Classic||Shannon's Limited||$1,125,225.00|
|27/08/2016||27/08/2016||Errol August 2016||Morris Leslie||$706,679.00|
|13/08/2016||13/08/2016||Buster Lang Classic American||Barons (Auctioneers) Ltd||$280,519.00|
This table demonstrates how influential the Monterey week sales really are. The top 5 auction events, by total sales, were all held in and around Monterey. Gooding & Company’s Pebble Beach sale alone saw $130 million change hands! In total these 12 events sold $320.5 million of collector cars during August 2016!
2002 - 2016 Classic Car Auction Sales Totals (August)
In August 2002, around $65 million worth of collector cars were sold from 1937 sales. In 2016 this figure was almost $335 million, from just 1120 sales!
By 2020 we’re confident August sales will reach $500 million ($0.5 billion), assuming good conditions – you can see the impact the financial crisis had on auctions and values in the year following (2009 - 2011).
Expectations for 2017
The classic market has been slow, with some notable disappointing sales so far this year, although the CCP 100 has seen modest growth.
Looking at some of the catalogs for the upcoming auctions there are some very special cars. I don’t think $500 million in sales will be reached, but I think the August auctions will at least match sales totals observed in 2016.
Get all the results as they come in
We’ll be posting the auction results on Collector Car Price as they happen in August 2017. Track sales you’re interested in using our Collections feature. Sign up to become a Collector Car Price member for $0.00 to get started.