Auction Results: June 2024

As we reach the midpoint of 2024, the overall trend remains stable. However, a closer look at the numbers reveals that Online Auctions are experiencing consistent growth, while Live Auctions are seeing less activity. Despite this, Live Auctions are not becoming obsolete; they still generate the strongest sales of the year.


June Breakdown


Overall, the dollar volume at auctions saw a year-over-year increase of just 4%. This growth was driven by a 7.6% rise in sales at online auctions, while live auction volume decreased by 1.7%.


The 1% growth in overall sold listings doesn't paint the full picture. Live auction sold listings dropped by 30%, whereas online auction listings increased by 10%.


Despite the notable decrease in dollar volume and sold listings, it's important to highlight that live auctions still achieve higher average prices and sell-through rates compared to online auctions. Moreover, they continue to dominate the top sales charts.


Year-to-Date


June marks the half-way point of the year, stay tuned for our Half-time Report to dig into the details of the trends so far in 2024.



Notable Sales


Top 10 Sales in June 2024

All of the Top 10 Sales this month took place on June 1st at RM Sotheby's Dare to Dream auction. The Top Online sale came in #16 on the list – this 1989 Ferrari F40 that sold at Collecting Cars for $1.5M.

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Top 10 Flips & Flops in June 2024

Each month, we track "Flips" and "Flops," which we define as cars with documented previous sale records. This enables us to calculate the net gain or loss and the time elapsed since the last sale. While some purists argue that a genuine Flip/Flop occurs only within a 12-month timeframe from the previous sale, we believe this list offers entertainment and valuable insights that a narrower window would overlook. Admittedly, it's plausible that cars have changed hands in private transactions between these public listings; nonetheless, this data provides valuable insights into which cars have realized significant gains or losses compared to their previous sales. Enjoy this data at your own discretion.

Flips

Flops

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Market Busters in June 2024

While most statistics and reviews tend to concentrate on the upper echelon of the market, noteworthy examples are consistently emerging across all segments of the industry. Our "Market Busters" chart showcases listings that broke records within their respective market segments and across all value tiers.

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Results are included from the following auctions in June 2024:


Header image courtesy of Gooding and Company / Michael Furman / The Mullin Automotive Museum


* A Market on CLASSIC.COM is a grouping of comparable vehicles that have, at a minimum, the same Make, Model, and Model Generation. When relevant for purposes of valuation, a Market may be further segmented by Model Variant, Trim, Transmission Type, Body Style, and other factors. 

**The CLASSIC.COM Market Benchmark (CMB) is a benchmark value for vehicles in a given Market based on data accumulated by CLASSIC.COM and calculated by a proprietary algorithm that takes into account volume and recency of each data point. CMB can be used to assess the performance of a market over a given time period. However, it does not represent the value of a specific vehicle. 

Read more in our Glossary of Terms