After the flurry of activity in July sales, August 2020 was disappointing. With what is traditionally known as Monterey Car Week limited to online sales, the big blockbuster cars were nowhere to be found. To put things into perspective, the top 10 sales in August 2020 represented $22.9m in Dollar Volume, while the top 10 in 2019 brought in $78.6m. Overall, the market was down 62% from $306.6m in 2019 to $116.8m in 2020.
On the bright side, the big auction houses did a great job adapting quickly to an online world and still managed multi-million dollars sales. In fact, because of this experience, we expect future sales to “normalize” throughout the years ahead instead of the usual big bumps in January (Scottsdale) and August (Monterey). Online, year-round sales are looking like the “new normal”. We’ll see!
Note: Stats quoted in this email are as of August 31, 2020 @ 7pm eastern.
RM Sotheby’s Shift/Monterey and Gooding Geared Online presented several incredible vehicles taking most of the top 10 sales. Our favorite was this 1959 Porsche 718 RSK Spyder sold by Bonhams for $2,232,500 – a model which served as the inspiration for the more contemporary Porsche 718 Boxster and Cayman models.
Flips & Flops
There was a lot of flipping this month! The top flip goes to this 1955/6 Aston Martin DB2/4 MKII which appears to have sold for a $90,000 profit in 7 months. Not bad for a pandemic! On the flops side, someone took a bath on this 1956 Mercedes-Benz 300 SC Coupe. Hey, you win some, you lose some!
Chart of the month: Locations
Have you ever wondered what is the best location to sell a 1st generation Bronco? Or any classic for that matter? On CLASSIC.COM you can now see the data. Go on to your Markets and click on the “Locations” chart.
Want to track sales of your favorite make/model? You can follow your favorite markets 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:
- AMC Pacer
- AMC Rebel – The Machine
- Auburn 851 Speedster
- Austin-Healey 100M
- Duesenberg Model J
- Cord 810
- Dodge Shelby Dakota
- GMC Sierra
- Hudson Hornet
- Hudson Italia
- Classic Mini
- Mini Cooper – John Cooper Works GP
- Sunbeam Tiger
If there’s a market you’d like us to add, please let us know in the comments… we are adding markets every day!
* These reports include sales reported in US Dollars only. Sales reported in other currencies are not taken into account… yet.