We hope everyone continues to be safe at home, and that this monthly update on the classic car market is both informative and entertaining for you.
It looks like April 2020 will go down in the history books as either (a) the worst month in classic car history or (b) the month in which the classic car market embraced all things online.
Or… maybe both!
On one hand, dollar volume dropped a whopping 62% relative to April 2019 with a paltry $30.5m in auction sales. The number of listings decreased 35% and sell-through went from 79% to 52%. Of course, the underlying cause for the dismal results were a number of major live auctions that were either cancelled or postponed such as Mecum Houston and Barrett Jackson Palm Beach.
On the other hand, the results were impressive. The outcome would have been far worse had it not been for the growth at Bring a Trailer and up-and-coming online venues such as Hemmings Auctions and PCARMARKET.
Don’t expect the major auction houses to sit on their behinds while the world moves online. RM Sotheby’s and Barrett Jackson already announced online only formats for auctions next month.
Note: Stats quoted in this post are as of April 30, 2020 @ 7pm eastern.
An eye on Monterey
We are almost 90-days out from one of the classic car industry’s biggest weeks: Monterey Car Week. We’ve already heard of some cancellations and expect more. We’re tracking them for you on our blog.
Track your favorite markets!
Want more detailed stats for your favorite make/model? On CLASSIC.COM you can follow your favorite classic car markets with the click of a button. Then sit back and we’ll keep you up to date with alerts on new listings and sale prices.
Here are some of our favorite markets launched this month:
- Alfa Romeo 6C
- Alfa Romeo Giulietta
- Acura Integra Type R
- Audi R8
- Audi Sport Quattro
- Bugatti EB 110
- Bugatti Type 57
- Fiat 600 Jolly
- Lancia Delta Integrale ‘Evo 1’
- Mercedes-Benz 500E
- Mercedes-Benz 540K
If there’s a market you’d like us to add, please let us know by commenting below… we are adding markets every day!