Modern Classics drive online-only auction sales

Modern classics are driving sales forward for an online-only auction site. The Market, which has no physical presence, is reporting strong interest for cars of the 1980s, 1990s and 2000s.

In its August sale, a 2006 Ferrari 612 Scaglietti with a 5.7-litre V12 engine and semi-automatic F1-style gearbox sold above its auction estimate for £57,000. With 49,000 miles on the clock, the car was presented in near showroom-condition.

Other notable results from the August sales include a museum-quality 1991 BMW 850i Auto reading 57,000 miles that sold for £19,500, a 1980 Porsche 911 SC project estimated at £12,000 to £16,000 that sold for £20,360. A 2000 Lotus Elise S1 Type 49 ‘Gold Leaf’ special edition, one of just 100 cars made, achieved £16,500.

Tristan Judge, director at The Market, said, ‘Despite the summer holidays, August has been another fantastic month which has seen our sales rate continue at the around 90 per cent level, reaffirming the power and popularity of a convenient, online only format.’

The August sale was a milestone for the company, which has now sold more than 400 classic cars.

Classic car owners looking to sell their classic pay five per cent sellers’ commission and no entry fee, while buyers don’t pay any fees.

Other highlights from last month’s sale included a fully restored multi-award winning 1937 Rover P2 20hp Sports Saloon. Rescued from a garage in 1996, the matching numbers example finished in Admiralty Blue won eight awards in the space of two years and was treated to three restorations during its life. Presented in its exact original specification, it reached a sale price of £22,000 at auction.

And a period correct 1959 Austin-Healey 3000 Mk1 from 27 year ownership attracted exceptionally high levels of bidding. Treated to a chassis-up restoration in 1993 and regularly driven, including on the school run, it was sold for an above-estimate £36,575.