That, at least, is my overall conclusion after Hagerty’s announcement last week released figures from their analysis of the UK auction market. The figures showed that the turnover in 2020 had been GBP 144 million, just around the same as in 2019. And this despite the fact that the UK in particular has had a double whammy of uncertainty and badness compared to other European countries.
Of course, you have to recall that lots of cars are traded outside of the auction houses as well, but here the data analysis is much more difficult: Neither dealer’s, private traders or other online auctions’ turnover are included, and it can not be ruled out that this segment fared different. It could also be pointed out that the auction market also typically lacks the cheaper classic cars, and although the UK also has auctions that includes much lesser cars they do not take up as much neither in the press nor valuewise as the greater classics.
But if you take the auction turnover as an indicator at the least, then it is stil very reassuring that the turnover in this Annus Horibilus has been the same as the year before. It’s a rough and very general summary, but I think it pretty much is accurate. At the same time, of course, there is a huge difference in the individual trades, and I think the two examples below illustrate this very well. What we have here is two very different cars – but stil at very comparable prices. Here, too, there is clearly something worth thinking about: Should the two really cost something near the same?
World record for Alfa Romeo “Bertone”: GBP 50,000 for a rather unoriginal but beautiful car?
According to Car and Classic (which has also launched an auction feature, and it was through this that the car mentioned here was sold), this beautiful Alfa Romeo set a new world record for the model sold at auction when it recently went for 50,000 GBP. Whether it is an actual record probably depends a bit on how you define the car, which was born as a 1300 and has a few modifications here and there – but OK, probably is not what you consider a “restomod” as such, which can be very, very expensive.
But the price still seems so surprisingly high that you can probably also take this as an indication that the classic market is not in deep crisis. See more for the car and read a thorough description of it here: Alfa Romeo GTV
All time low for the Ferrari 308 GTB: GBP 55,000 for a completely original but rather patinated car?
The Ferrari here is a somewhat different type of car than the Alfa – and here I am thinking in terms of condition. From the description and the pictures it is a car that even here quite many years after its birth in 1979 appears quite original, but of course has been continuously maintained along the way (and I am pretty sure that it has been painted along the way too). It is even the sought-after carburetted and dry-sumped version which is usually much more expensive car than the Alfa – but not in this case: it was sold on the same online auction platform in November for £ 55,000.
Which is a sign that you can still make good deals out there. See the ad, descriptions and many more pictures here: Ferrari 308 GTB.
Now, both are bone fide classic cars, no doubt about that: The Alfa could be argued to be one of the best road cars the marque has ever produced, and certainly the Ferrari was is up there too – the most succesful car ever made by them up to that point in time and a design icon in its own right. Both eminently usable whether from a daily practical aspect or from which events they could be taken to. Both outright lovable. But from the numbers the Ferrari just beats the Alfa hands down: It is not only much rarer to the tune of about 12,000 308’s to about 250,000 GT/GTV’s, but also faster, more expensive when new, more prestigious then and now and with the midengined V8-layout clad in the best of Pininfarina more spectacular too.
Surely they should not be the same price. I certainly know what I’d prefer. Do you?
