It is not every day that all vehicles are offered at a Bonhams auction without a reserve price, but on June 4, 2023, this was the case at "The Greenwich Auction" in Connecticut. 81 cars, five motorcycles and two tractors went under the hammer, including various restoration projects.
An average of just under USD 50,000 per vehicle was expected, although super classics were also on offer.
Of course, all vehicles were sold, and the average price was USD 43,638, around 13 percent lower than expected. Some of the bids were considerably lower (for a Ford truck, for example, only 17% of the median estimate), but some were much higher than expected.
For example, the restoration project of a 1910 Overland Model 41 was knocked down for USD 15,000, three times more than expected. Two other projects, a 1910 Rochet cutter and a 1911 Hupmobile, also pulverized the estimates.
Super classics tend to exceed expectations
A Mercedes-Benz 560 SL from 1987 also performed significantly better than expected.
Instead of USD 14,000 to 16,000, the bid was USD 25,000, meaning that the R107 found a new owner for USD 28,000 (EUR 26,320 or CHF 25,480).
Things also went well for the 1969 AC 428 Fastback Coupé. The new owner invested USD 173,600 (EUR 163,184, CHF 157,976), which was considerably more than estimated.
The Ferrari F355 from 1997 with manual transmission also sold for USD 120,960 (EUR 113,702, CHF 110,074), which is more than the estimated international market value for this type of vehicle.
Two Rolls-Royce Silver Cloud IIs from 1965 and 1966 also sold better than expected and the Ghia 450 SS Convertible from 1967 also achieved a higher price than expected.
Buyers had to invest USD 60,480 for a 1966 Sunbeam Tiger, while the 1985 Aston Martin V8 Volante fetched USD 97,440.
Not all super classics reached their estimated values: a 1969 Porsche 911 E Targa sold for USD 89,600, while a 1965 Austin-Healey 3000 only realized USD 35,840.
Things also went really badly for the 1978 Aston Martin V8, which went to a new owner for just USD 62,720.
Many bargains
More than a quarter of the vehicles only just reached half their estimated value or did not reach it at all.
Among the bargains was the 1961 Citroën DS 19 Cabriolet Chapron, which sold for just USD 101,920 (EUR 95,805, CHF 92,747). The closed DS 19 from 1968 fared no better, with a price of USD 20,160.
You could also get your hands on one of the most expensive Rolls-Royces at the time, as the Phantom V from 1960 was sold for just USD 31,360.
You could buy a 1973 Iso Rivolta Fidia sedan for USD 17,920 and a 1973 Ford Mustang for USD 21,280.
The 1953 MG TD was also inexpensive, fetching just USD 12,320, while its predecessor, a 1948 TC, was valued at USD 28,560.
The two cabin scooters, a BMW 600 from 1958 and a Velam Isettta from 1956, also found new owners well below expectations; USD 30,240 and USD 21,280 were enough to buy them.
Less expensive than expected, an Alfa Romeo 1900C Super Sprint Coupé from 1955 also had to be sold for USD 159,600 (EUR 150,024, CHF 145,236), while the Facel Vega HK500 from 1960 was similarly priced at USD 87,360 (EUR 82,118, CHF 79,498).
If you work your way through the table or click through the gallery above, you will find more surprises. On average, the auction was more or less in line with expectations, but for individual lots the deviations upwards or downwards were quite large.
Offered and Sold Vehicles
The following table lists all offered and sold vehicles with estimated prices, highest bids, and sale prices. The price conversion was made at the exchange rate valid on the auction day. All information is provided without guarantee.
| Lot | Car | Year | USD Est from | USD Est to | USD HP | USD SP | CHF SP | EUR SP | % Est | S |
|---|---|---|---|---|---|---|---|---|---|---|
| 101 | Indian 440cc Vertical-Twin Scout | 1949 | 9000 | 12'000 | 6500 | 7475 | 6802 | 7026 | -28.81%
|
V |
| 102 | Honda Gold Wing GL | 2007 | 12'000 | 14'000 | 7000 | 8050 | 7325 | 7567 | -38.08%
|
V |
| 103 | Jaguar XJ6 Vanden Plas Sedan | 1996 | 10'000 | 15'000 | 13'000 | 14'560 | 13'249 | 13'686 | +16.48%
|
V |
| 104 | Austin Mini 1000 Saloon | 1979 | 25'000 | 30'000 | 11'000 | 12'320 | 11'211 | 11'580 | -55.2%
|
V |
| 105 | Morgan +4 | 1959 | 30'000 | 40'000 | 25'000 | 28'000 | 25'480 | 26'320 | -20%
|
V |
| 106 | Pontiac Parisienne Convertible | 1963 | 50'000 | 60'000 | 19'000 | 21'280 | 19'364 | 20'003 | -61.31%
|
V |
| 107 | Lincoln Capri Convertible | 1954 | 30'000 | 50'000 | 15'000 | 16'800 | 15'288 | 15'792 | -58%
|
V |
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All information is provided without guarantee.
Legend: Column S = Status (V = Sold, N = Not sold, Z = Withdrawn, U = Under reserve)
Est = Estimate, HP = Hammer Price, SP = Sale Price
