Classic Car Market Stats: March 2020

We hope you are all staying healthy and safe in these difficult times. Here’s our monthly update on the state of the classic car market: the market dropped 13% in March.

Unsurprisingly, we saw a 13% decrease in the Dollar Volume across all the major USD denominated classic car auctions, from $161m in March of 2019 to $140m in March of 2020. The overall number of listings dropped only slightly (-2%), but the sell-through rate dropped from 69% to 62% during the same comparable period.

Note: Stats quoted in this post are as of March 31, 2020 @ 7pm eastern.

Top Sales

The drop was softened by a number of high profile sales such as the $7.1m sale of a 1932 Bugatti Type 55 Super Sport Roadster and the $3.3m sale of a 1907 Renault Type AI. In all, the top 10 sales of March 2019 represented $17.6m in Dollar Volume, compared to $24.3m in March 2020.
View top 10 sales >

Flips & Flops

We saw some amazing flips & flops, such as this 2017 Ford GT that sold at 47% of its May 2018 selling price.
View top 10 flips & flops >

Auctions postponed

It’s likely that April will take an even bigger hit as collectors and enthusiasts alike pause and re-assess values. We’re seeing this across a number of venues, evidenced by withdrawn lots and postponed events.

That being said…

It’s a good time to follow your favorite markets and keep an eye out for deals. This will be a good time as any to add that dream car to your portfolio!

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