Car auctions in times of Corona, Ukraine and the electric trend: more in demand than ever

Those responsible at RM Sotheby’s and Goodings were equally satisfied with the first major auction of 2022, which traditionally takes place at the great classic event on Amelia Island in north Florida. Although there was only one auction day, RM Sotheby’s classics changed hands for more than $46 million. The competitor Goodings even achieved proceeds of more than 69 million dollars. While small memorabilia at the start of the auctions, such as an original Mario Andretti painting by the artist Kelly Telfer, had to be helped a little before the $130,000 mark was broken, the situation was very different with many classics on four wheels.

Because the current used car market is just as strong and tough as the exclusive auctions of Goodings, RM Sotheby’s, Mecum or Bonhams. Registrations for the various international auctions in 2022 were better during the ongoing pandemic than in the past two years, and the start of 2022 in the USA, the most important auction market, gives hope that things will continue like this. The fact that the car world is slowly adopting electromobility leaves the classic and sports car market as cold as an early morning on the Florida coast.

Although the auction market is slowly but steadily turning away from pre-war models, special pre-war vehicles still fetch top prices. A 1934 Packard Twelve Individual Custom Convertible Victoria fetched more than $4.1 million in Amelia Island. Things looked even wilder for the Duesenberg Model J Convertible Sedan, which sold for $3,525,000, more than $1 million more than the experts had expected. However, the record was broken by the elegant 1937 Talbot-Lago T150 C SS Teardrop Coupé for more than $13.4 million. But the vehicles from the 1920s and 1930s, which ten years ago were being auctioned off like hot cakes on the sales ramps, are having a much harder time. A 1931 Pierce-Arrow Model 42 Touring Phaeton fetched just $112,000, and many other pre-war models didn’t fetch the prices sellers were hoping for.

It is quite different with sports cars. 2019 Bugatti Chiron, 2020 McLaren Speedtail or 2018 Ferrari LaFerrari all went for prices between 2.7 and 3.6 million dollars. Younger customers in particular often want younger cars – if possible, sports cars with a history or limited models. Years ago it would have been impossible for a Jaguar XJ 220 to change hands for nearly $690,000 or a 1991 Ferrari Testarossa to top $320,000. The demand for classic Porsche 911 models is undiminished. A 1973 Porsche 911 Targa 2.4 T fetched more than $170,000 and even a 1987 Mercedes 560 SL in the otherwise unpopular US version fetched $56,000. Spectacular: a rare Porsche 924 Carrera GTS Club Sport changed hands for $417,500. Even more expensive: Bonhams auctioned off a rare Porsche 550 Spyder with a Wendler body for almost 4.2 million dollars. But you can also get cheaper and just as elegant with a 1976 Aston Martin V8 Sports Saloon for just $56,000. An ordinary 1996 Porsche 993 Carrera in bright yellow, on the other hand, got a new garage for a whopping $87,000.

The strong start to the year raises hopes among the auction houses for successful auctions in the further course of the year. Many are already looking to Fort Lauderdale next weekend, to Monaco in May and the highlight of the year for everything is the world’s most exclusive car event at the Monterey Auto Week and the Concours d’Elegance, which is traditionally held in the third week of August around Pebble Beach .