UK Classic Car Auctions Pale In Face Of Stiff European Competition

It seems the UK collector’s market is steadily losing out to its European cousins in the race for sales. The previous year end saw a record 3512 classic cars being sold under the European auction hammer, which is 770 more than the year before.

In the UK, where the number of cars auctioned and sold has definitely increased by leaps and bounds from the year before, the average price paid for a purchased classic car has dropped by almost £2,000, which indicates a year-on-year drop of 5 percent in auctioned classic car prices.

In terms of auction events, there’s another reason to smile for classic car insurance companies; as the auctions have increased from 59 in 2010, to 74 in 2011. This year seems to hold even better prospects, what with 79 auction events already scheduled, with plenty more slated to be introduced later this year.

In the UK classic car sector, Bonhams has emerged as a clear winner of 2011.
Holding a significant lead over other classic car competitors such as RM, H&H and Coys, Bonhams is by far the most popular choice for classic car aficionados in UK.

Local classic car experts say that, taking the previous year’s auction haul in account and comparing it with the accelerating market of the European union, it wouldn’t be a stretch to say that the UK collector’s market has just lost as much as 8 percent of auctioned cars to the EEC in 2011.

Looking back, some classic cars garnered more acclaim than others. Out of all the cars presented in the auctions, four stood out from the rest. These were: TVR Griffith, Aston Martin DB5, E-type Jaguar and Austin A30.

The Griffith scored brownie points mainly on the strength of its sporty fabric and powerful engine. Widely admired as one of the most responsive cars of the early 90’s, the Griffith’s beauty lies in the raw, fiery noise that comes from its engine. This surely explains why Griffith owners are inclined towards revving up their engines more enthusiastically than most.

The Aston Martin DB5 remains an iconic favourite from the Sixties. Immortalised in the James Bond flick as the car of choice for Sean Connery, the DB5 had an incredibly progressive design that was way ahead of its time when it was launched. It’s sleek, classy exterior along with an established sporting pedigree is the reason why the DB5 now looks down upon it’s progeny extending all the way till the DB9 and DBS 12 versions.

If you’re looking for a polar opposite from the DB5, you couldn’t find a stronger candidate than the Austin A30. With looks that strongly remind you of the archetypal Noddy car, the Austin A30 has a reliable countenance with a deceptively powerful engine. Truly, one of the stalwarts of the classic cars in UK.

Last but by no means the least is the E-Type Jaguar, which was one of the roaring models of the mid-sixties. A wonderfully streamlined design with curves that command attention add to the sporting pedigree of the 1965 E-Type Jaguar. Another enviable classic to keep in the garage.

 

 

About Anne Jacobs

I am a full time insurance underwriter with a love for writing. I work in the UK at a classic car insurance company. My other hobbies are going to the gym and aerobics (when I am not looking after my 3 year old daughter Jessie.
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