Data taken as at point of sale and doesn't include any sales agreed post-auction.
What's going on here?
Here are your 5 headlines from Bonhams’ Beaulieu sale
Tell me more
1 - Sell-through rate is back. After a couple of tough recent auctions when it came to the sell-through rate we were tracking the Beaulieu sell-through rate like a hawk. Part-way through the sale it touched 79% before settling at the end on 63%. In other words, 65 vehicles were offered on the day, with 39 of those selling. A positive indication after a tricky few sales in the UK.
2 - Even better taking into account the limited no reserve cars. Digging a level deeper on the sell-through rate there were further encouraging signs, 16% of cars offered were no reserve - that's below what we see on average. So despite fewer no reserve cars the sell-through rate was respectable (albeit slightly below the average seen this year).
3 - We're not out of the woods yet. Despite a stronger sell-through rate than we've seen recently there was also cause for concern. Two data points stick out. Firstly, on average the sales price was 22% below the midpoint of the estimate (adding in premium to the high bid for lots that didn't sell) - a 'normal' auction would see that figure sit at c. 15%. Secondarily, 72% of cars failed to reach their lower estimate (adding in premium to the high bid for lots that didn't sell).
4 - What sold well: The highlight of the sale was the LHD 2007 Ferrari 612 Scaglietti HGTC. Estimated at £42,000 - £50,000, it sold for £63,250. Interestingly this car was one of a few vehicles that Bonhams had tried to sell previously, this one was offered at the Festival of Speed sale where it reached a high bid of £38,000. Quite the jump.
5 - What didn’t sell well: The 1981 Rolls-Royce Silver Spur was offered at £12,000 - £16,000 and sold for a steal at £4,830. Another interesting lot was the ex-Dean Martin 1973 Excalibur Series II. This specific car was sold by Bonhams in 2019 for £75,900. At Beaulieu in 2024 it sold for £28,570 - a 62% price fall in 5 years.
Why should I care
The main question mark we had going into the sale was where would the sell-through rate land.
Thankfully that number started with a 6.
Are we out the woods? No.
Is it a positive sign? Absolutely.
There are more tests to come over the coming weeks with some big sales in October.
And of course, we'll be here to analyse them for you.
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