3 Zs up for auction at Silverstone classics today

All 3 didn’t make reserve, 1973 Ex cali RHD conversion got to £22k, the oddly coloured Samuri with ‘factory’ sun roof £44k!
Did a big bubble just burst?
 
Kieronpollock said:
All 3 didn’t make reserve, 1973 Ex cali RHD conversion got to £22k, the oddly coloured Samuri with ‘factory’ sun roof £44k!
Did a big bubble just burst?I think the prices fairly reflected the condition
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Having seen all three cars yesterday, I think the prices fairly reflected the condition of the cars.
Of the two white cars, the lhd car was the better car and made more money.
The Samuri was the nicest car of the three with the minor downside of the glass sunroof.

Also don't forget there is a 15% auction buyers premium on those prices. So the rhd conversion car was £25,300, the unconverted HLS30 made £ 27,600 and the Samuri made £ 50,600. Auction prices will generally be lower than open market as there is no opportunity to test drive or hear running so you need wiggle room for the leap of faith of the unknown.

There is bound to be a correction in the market with headline interest rates at 5.25% and a drop of 10% or so would be expected.
 
I think they may still have sold though.
The lower price in the auction guide is just that....... a guide price, not reserve price.
A lot of cars did not reach that lower guide price but still sold there and then, not provisionally.
 
Thanks, the cars are down as ‘passed’ not sold. And whilst Silverstone commission is probably double other online auctions eg collecting cars, those show be value drops - don’t think your 10% drop is far off the mark.
 
Kieronpollock said:
Thanks, the cars are down as ‘passed’ not sold. And whilst Silverstone commission is probably double other online auctions eg collecting cars, those show be value drops - don’t think your 10% drop is far off the mark.
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Also noticed a trend that older run of the mill classics from the 50/60's are falling back in value - MG TC/TD/TF MGA/MGBs, TR3, Healeys, Jag XKs, Mk2s etc as the guys who would have liked those cars when they were young are all leaving us now.
 
chrisvega said:
Also noticed a trend that older run of the mill classics from the 50/60's are falling back in value - MG TC/TD/TF MGA/MGBs, TR3, Healeys, Jag XKs, Mk2s etc as the guys who would have liked those cars when they were young are all leaving us now.
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that's an interesting point - is the next decade peak time for S30 prices?
 
At least two of the cars have been in the Market and the samuri has almost had a birthday on the market before the auction . That can itself reduce the value of a particular car . However the Market is softening quickly.

Good quality cars will always sell and Silverstone auctions do like to have your pants down for another kick in the B…….ks .( wallet )

Z cars are timeless especially in original format but will fall in price respectively along side the trending market .
 
Apparently none of the cars sold.
Unrealistic vendor expectations coupled with high auction fees.
That Samuri was well bid at £50k to the buyer and should have sold at that, buy it now £59k.

The two white cars (one in particular) were nothing special and have buy it now asking prices of £37k and £40k, definitely too high in current market. The lhd car claimed to have had £37k spent on restoration, it must have been in somewhere incredibly expensive as the shell was ex-CA and looked pretty sound and original, had original spot welds in the arches etc. If it didn't need too much metalwork how can you spend so much?
 
chrisvega said:
Also noticed a trend that older run of the mill classics from the 50/60's are falling back in value - MG TC/TD/TF MGA/MGBs, TR3, Healeys, Jag XKs, Mk2s etc as the guys who would have liked those cars when they were young are all leaving us now.
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This has been something I’ve been watching for some time. The demographic that has been the mainstay of typical UK classic car show exhibitors and favoring all those classic 50s-60s, and run of the mill 70s types, is starting to depart and a lot of their vehicles do not have appeal for younger generations. Meaning prices are going to fall regardless of other economic factors.

Zs have a wider appeal, but have increased in value at such a rate over recent years that they aren’t a “democratic” choice, if you know what I mean. They are expensive for the younger cohorts that may idolize them, and those that can afford them, have a lot of other choices. Plus, add cost-of-living crisis, etc. The audience that will actually pull the trigger on a Z may well be contracting for a range of overlapping reasons.

Too many overvalued vehicles on the market - correction incoming.
 
I had a quick look at the results
richiep said:
................... The audience that will actually pull the trigger on a Z may well be contracting for a range of overlapping reasons.....
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Rich, I have no idea what you are saying here. Please explain.
 
In the description for the Samuri it states it is number 16 of 177 - 77 not 177.
 
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