Bonhams Goodwood Festival of Speed Auction 2016 - muted euphoria shortly after Brexit?
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Created on June 25, 2016
, Reading time 6min
Text:
Bruno von Rotz
Photos:
Bonhams
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Summary
Bonhams put a total of 88 cars under the hammer at the Goodwood Festival of Speed on June 24, 2016. 16 of them date from the pre-war period, almost half from the post-war period up to 1969 and 13 were built in the last 29 years. In total, the cars represented a value of around £15 million, but customers only really wanted to bite on 56% of the lots, which also halved the overall sale. This report analyzes the results and shows the vehicles sold at auction.
This article contains the following chapters
- MG single piece clearly above expectations
- Desirable pre-war Jaguar
- A lot of money for a restoration object
- Highlight not sold
- Fluctuating interest
- Three BMW coupés from three eras
- Expectations too high?
- List of the auctioned vehicles
Estimated reading time: 6min
Preview (beginning of the article)
A total of 88 cars were put under the hammer by Bonhams at the Goodwood Festival of Speed on June 24, 2016, just hours after it became clear that the British had withdrawn from the European Community. While the stock markets were going crazy and exchange rates were plummeting, an auction took place near Chichester, almost as if in another time, with vehicles worth a total of £15 million (EUR 19.5 million, CHF 21.5 million). Whether it was due to the high expectations or the bidders' subdued desire to buy, only 56% of the vehicles found a new owner, with the remainder being left standing. This also reduced total sales to around £6.6 million (EUR 8.19 million, CHF 8.85 million). For Swiss buyers, prices fell by around 10% overnight, for continental Europeans by around five percent. Nevertheless, the upward swings were limited.
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