Classic car enthusiasts may be interested to read that, according to Hagerty, the average amount paid for a classic car at auction here in the UK has been rising. In 2020, the average amount paid was £38,984. In the first half of 2021, the average price paid for a classic car at auction has amounted to £45,648 – a significant increase.

Apparently, classic cars normally sell for larger sums in the last six months of the year so it is forecast that the above figure should increase.

Another interesting statistic relates to the amount classic cars are being sold for in comparison to their estimate. In 2020, 17.9% of classic cars sold at UK auctions sold for above their estimated sale price. In the first 6 months of 2021, 34.7% of classic cars sold for above their estimated price – a big increase.

An increasing number of classic cars offered for sale at auction actually sell. In 2020, 70.7% of classic cars offered for sale actually sold. In the first 6 months of 2021, 77% of classic cars offered for sale were actually sold.

An increasing percentage of modern classic cars from the 1980s are being offered for sale at auctions. In 2020, 14.6% of classic cars from the 1980s were offered for sale at auction whereas in the first 6 months of 2021 the figure was 16.4%.

The most expensive classic car sold at auction this year was by Bonhams who sold a 1937 Bugatti Type 57 for £4.047 million. In second place was a 1961 Aston Martin DB4 GT sold by Gooding & Company for £2,750,000. In third place was a 1969 Ford GT40 sold by Gooding & Company for £2,508,000. Seven of the top ten cars sold at public auctions in the UK were through Gooding & Company.

It is going to be interesting to see what happens to classic car prices in the last 6 months of this year especially as we come out of lockdown due to the pandemic.