SHANNONS HAD ANOTHER good result with their Sydney Winter Classic Auction, but what didn’t sell is perhaps as telling as what did.
Of the 56 lots on offer, 49 sold and seven were passed in.
Cars that would once never have qualified for classic status did well (the 1980 Holden HZ Kingswood SL 4.2-litre V8 was right in mid-estimate at $16,500; so too the 1981 Ford Falcon XD GL 5.8-litre Police Pack sedan at the top end of estimate for $44,000). Other temptations included the 1991 Mercedes-Benz 300CE-24 (above estimate at $20,500) and the 1991 BMW M5 E34 saloon (just under estimate at $23,000).
Proving that they are definitely on collector radar, a nice little Honda S800 roadster came in at $29,000 (right in the middle of its estimate).
Muscle cars are still selling strongly, with a 1973 Ford Falcon XA Superbird 2-door coupe smashing its estimate at $86,000. A 1974 Ford Falcon XB GT sedan managed $78,000 but the 1974 Holden LH Torana SL/R 5000 L34 was disappointing at $90,000 (estimate $95-125,000).
But moving to the lots that didn’t sell, it would appear that buyers are shying away from high maintenance vehicles and vehicles perhaps less suited to modern road conditions. Okay, the 1951 Willys Overland 4×2 station wagon would appeal to a limited audience (estimate $28-38,000) and the wide estimate range indicates that there was some question over its value. The 1986 Kougar sports roadster would also deliver a lot of fun for its $45-55,000 estimate but failed to find a new home. At $70-80,000, the 1927 Rolls-Royce 20HP Southern saloon was a lot of car for the money, while the 1938 25/30HP Barker saloon sold cheaply at $22,000 (estimate $30-40,000). Despite hugely increasing prices, the 1978 Aston Martin V8 Oscar India failed to reach its $230-250,000 reserve, as did the 1969 Jaguar E-Type Series 2 2+2 4.2-litre coupe (estimate $80-95,000). And the once-gold-plated investment Mercedes-Benz pagoda (a 1966 230SL) should have sold for its $100-120,000 estimate.
Motorcycles are no longer an affordable way into classic ownership, with many bringing strong prices, often above estimate.
As for black and white number plates, the less said the better. Seriously, the only justification for the prices paid is that many buyers must consider them as investments. NSW 138 smashed its $150-200,000 estimate to bring $310,000. I hope for the sake of the buyers that this particular bubble doesn’t burst in the foreseeable future but, like artworks and other collectables, value is in the eye of the beholder.