The October auction at the Oldtimer Gallery in Toffen is as much a part of autumn as the falling leaves, the lower temperatures and the shorter days. On Saturday, October 14, 2023, the time had come again and Serge Stotzer opened the auction punctually at 13:30, assisted as always by Beat Walti, who provided the English translation.
86 cars and nine motorcycles as well as some automobilia went under the hammer, the vehicles together were worth less than CHF 3.6 million, 38% were offered without a reserve price.
A total of 51 vehicles (54% of the offer) were knocked down and sold immediately. A further 26 vehicles were knocked down "subject to reservation"; these are still subject to renegotiation, which will ultimately lead to a sale or withdrawal of the vehicle. The closer the highest bid was to the estimated value, the higher the chances that the trade will take place after all. Taking into account many years of experience, it can be assumed that the number of cars sold will increase to around 62 to 64, which should result in a sales rate of 65 to 67%. However, Serge Stotzer, Beat Leu and the entire Toffen team still have some (negotiating) work ahead of them before that happens.
The total turnover for the vehicles should ultimately settle at around CHF 1.6 million, with cars and motorcycles sold directly for CHF 1.17 million.
Vehicles from ten decades
The vehicles on offer were on average just over 53 years old. Eight pre-war cars were looking for new owners, including the 1941 Cadillac.
However, the sixties were particularly well represented with 28 cars and the seventies with 25 cars, while youngtimers and even newer vehicles made up less than a tenth of the offer.
German luxury in demand
In order to analyze the results, Toffen's range was divided into segments. A distinction was made between British luxury vehicles, British convertibles/roadsters, German luxury cars, German convertibles, German sports cars, Italian classics, US cars, exotic cars and former bread-and-butter cars; motorcycles were not included in this analysis.
The German luxury vehicles with an average age of 40 years, represented by 10 cars, performed excellently in Toffen. 90% of them were sold, on average 82% of the median estimate was offered, the prices were relatively high despite the high proportion of no reserves.
A 1994 BMW 540i, which had stood idle for some time and now found a new owner for well above expectations at CHF 11,200 or EUR 11,789, stood out.
The S-Class derivatives 300 SE W140 from 1991, 600 SEC C140 from 1993 and 560 SEC W126 from 1991 also sold for good prices.
A BMW 850i from 1990 with manual transmission (!) changed hands rather cheaply via the Internet. Only CHF 29,120 (EUR 30,653) had to be paid for the well-preserved luxury coupé.
The open-top German cars and German sports cars fared less well at the auction than the saloons and luxury coupés, with more than around a third of them not selling directly.
Nevertheless, a Porsche 356 B Super 90 Cabriolet from 1963 found a new owner for a good CHF 134,400 (EUR 141,474), while the Mercedes-Benz 280 SL from 1981 could be considered more of a bargain at CHF 19,600 (EUR 20,632).
The CHF 25,000 offered for a 1998 BMW Z3 2.8 Coupé was actually relatively good, but the minimum asking price was apparently somewhat higher, which is why the car could only be knocked down with reservations.
Less demand for Italian classics
As many as ten Italian classics from brands such as Alfa Romeo, Ferrari, Fiat, Lamborghi and Lancia went under the hammer in Toffen, only three of which were sold directly. On average, the highest bids were around 68% of the median estimate. However, the no-reserve percentage was particularly low at 10%.
Two open Alfas sold well: both the re-registered Giulietta Spider from 1962 and the 2000 Spider Veloce from 1974 found new owners at Estimate level.
The eagerly awaited Lamborghini Espada, which had resurfaced in a dark garage after decades of dormancy, could only be knocked down with reservations for CHF 50,000.
The 1961 Lancia Flaminia 2500 GT Touring, already known from an earlier Toffen auction, fared similarly, with no one willing to bid more than CHF 35,000, which was almost an insult to the car.
Bidding on the Maserati Indy 4.2 from 1970 also ended long before the estimated value was reached, and the same can be said of the pretty Fiat 124 CC Sport Coupé 1600 from 1974.
The pretty and interesting Lancia Ardea from 1949 with a five-speed gearbox (!) sold for CHF 11,200 (EUR 11,789), well below expectations.
Open-top Brits in the doldrums?
As many as 12 open-top British sports cars were auctioned in Toffen on October 14, 2023. Five (42%) were sold outright, while the bids for the rest were insufficient for an immediate knockdown. On average, 67 % of the median estimate was bid.
The offer was broad and ranged from the 1930s to the 1970s. Two of the four pre-war British cars were sold, the interesting TA from 1937 for a relatively low CHF 15,120 (EUR 15,916), while the Bentley 3.5 Litre Special from 1936, the most expensive car in the auction, changed hands for CHF 162,400 (EUR 170,947).
There were not enough bids for the Singer Nine Le Mans from 1933 and the Alvis Speed Twenty from 1934.
Instead, one of the two MGBs and a 1968 Triumph Spitfire Mk 3 were sold.
However, the relatively unknown Bond Equipe 2-Litre GT Convertible from 1969 with a six-cylinder engine and famous previous owner sold for more than its estimated value. The new owner, who is apparently even related to the previous owner, paid CHF 22,960 (EUR 24,168) for the blue convertible.
Popular classics such as the MGA, Triumph TR4 or Austin-Healey 3000 could only be sold with reservations and at relatively low prices.
British luxury cars from Jaguar, Daimler, Bentley and Rolls-Royce were strongly represented with 15 vehicles, if one also includes Ford Zeyphr, Jensen Interceptor as well as an MGC GT and a Jaguar E-Type 2+2 in this category. However, demand was rather modest in comparison, as only a third of these vehicles were sold immediately, which was perhaps also due to the low no-reserve percentage of 13%, as the average bid was 71% of the average estimate.
However, a 1971 Jaguar XJ6 4.2-Litre Series 1 sold well, passing into new hands for CHF 22,400 (EUR 23,579). The 1954 Ford Zephyr Six also made it to a top bid at exactly the level of the median estimate, while the 1970 Jensen Intercepter II, for example, was offered for significantly less than expected.
A wide range of US vehicles
The six US cars on offer were spread over half a century of construction. Half of them were sold, but the highest bids came to an average of 82% of the median estimate.
A Ford Mustang SVT Cobra convertible from 1996 with relatively low mileage and a manual gearbox attracted a lot of interest. The CHF 17,920 (EUR 18,863) paid was well above the estimate.
Some interest for "bread-and-butter"
The segment of once frequently seen everyday cars included 13 vehicles. Nine (69 %) were sold, with an average bid of 76 % of the median estimate.
Slightly more than expected was paid for a 1988 Mercedes-Benz 300 TE (W124, certainly at the upper end of bread-and-butter), while the 1973 Peugeot 504 GL found a new owner for CHF 16,800 (EUR 17,684).
An enthusiast invested CHF 14,560 (EUR 15,326) in the now very rare 1976 Alfa Romeo Alfasud 1.2 with chrome bumpers, while a 1973 Morris Marina 1.8 went for CHF 5320 (EUR 5600), which was significantly cheaper than the consignor had hoped.
Exotics with a headwind
Thanks to a 50 percent no-reserve share, two thirds of the cars classified as exotics were sold, including the over 100-year-old White Postauto from 1916, which was sold for CHF 40,320 (EUR 42,442).
The very brute-looking and unroadworthy hot rod based on a Ford Model A with Cadillac V8 and automatic transmission also found a new buyer who was prepared to invest CHF 17,920 (EUR 18,863), which was still well below the estimate.
The interesting Reliant Scimitar GTE SE5 3.0 from 1971 also changed hands very favorably, while the Citroën SM from 1971 and the Alpine-Renault V6 Turbo from 1989 were only sold with reserve, while the unorthodox Volvo TP 21 "Sugga" from 1954 sold for CHF 44,800 (EUR 47,158).
The auction lasted over five hours, and towards the end it became increasingly chilly in the hall, which probably prompted some of the guests to leave early. Thanks to lively internet participation, loyal pre-bidders and telephone bidders as well as good "negotiating skills" by Serge Stotzer and Beat Walti, the auction remained exciting and eventful right to the end, and there was no shortage of interested bidders.
