Normally, the auctions in the old factory hall of the Oldtimer Galerie in Toffen have a certain folk festival character. There is a lot of laughter and smiles, the atmosphere is relaxed and the auctioneer is entertaining. Bratwurst is snacked on before and after and the odd beer is drunk. On March 28, 2020, however, everything was different, because due to the coronavirus pandemic, events are banned in Switzerland and all surrounding countries.
While other auction houses canceled their auctions, Reinhard Schmidlin and his team decided to go ahead with the sale, which had already been prepared, without an audience.
Bidding only via the Internet, telephone call or pre-bid
The Toffen team went to great lengths to give interested parties the best possible insight into the cars. Each car was filmed in advance during a drive-by, and additional photos of the underbody and details were taken and posted online. The potential buyers appreciated the service, as the feedback in advance showed.
Even previews and test drives were possible up until the day before the auction, but only by prior appointment and in compliance with the necessary distancing regulations.
Many written bids were received in advance. Nevertheless, there was still a certain amount of risk involved in the auction. Nevertheless, the press was well received and reported extensively before the auction.
Without an audience
On the day of the auction on March 28, 2020, a "livestream" replaced the on-site visit for those who stayed at home. Moving images of the auctioneer and the Toffen team were transmitted in good quality. Two online auction service providers accepted the online bids, and up to four Toffen employees bid on behalf of interested parties sitting at home with their cell phones to their ears.
The auction lasted around 3.5 hours and - from a spectator's point of view - was hardly less exciting than other auctions. It just seemed a little more synthetic because the audience normally makes up a considerable part of the atmosphere and also guarantees surprises.
Nevertheless, there were a few funny lines, such as when the auctioneer explained to the Internet bidders at home: "Take a sip from your coffee cup, then press (click)". To which auction specialist Beat Leu replied: "Better press first, then sip ...".
Successful
The result was impressive. 87 vehicles, including a motorcycle and two tractors, worth just over CHF 3 million went under the hammer. 62% were sold, with a further 27% still requiring renegotiation ("sold subject to reservation"). Only 12 % remained unsold. One car was withdrawn before the auction and another was subsequently consigned.
In total, bids amounting to around CHF 2.1 million were received, with the prices of the vehicles sold totaling around CHF 1.5 million including 12% commission. This means that CHF 27,710 was paid per vehicle lot. On average, 77% of the median estimate was bid per lot.
These are all figures that would probably not have been much different at a "normal" auction, which was certainly due to the enthusiasm and good preparation.
High-flyer Triumph 1300 Saloon
Very few people have ever seen a Triumph 1300 on the road in recent years. Introduced in 1965, Standard Triumph responded to the Austin/Morris 1100 with this four-door model. The design was created by Giovanni Michelotti and the Triumph 1300 looks like a small Dolomite, but has front-wheel drive.
The blue Triumph 1300 on offer from 1969 had covered just 6500 km and was offered at an estimated value of CHF 4000 to 6000, notabene "sans reserve". The bidders recognized the rarity of the little Triumph. In the end, the highest bidder went as high as CHF 6500, paying CHF 7280 for this rarity.
A Bentley Arnage T from 2003 and a Chevrolet Camaro SS 350 from 1968 also sold well above the estimate.
With the 1928 Singer Senior Tourer and the 1971 Citroën Ami 8, two other "exotics" achieved prices well above the estimated value.
Expensive cars slightly less in demand
The most valuable car at the auction, a Porsche 911 Carrera 3.2 Speedster from 1989, estimated at CHF 170,000 to 180,000, was not sold.
No bids were received for the starting price of CHF 125,000; the auctioneer's verdict was "not sold".
The Fiat 124 CSA Abarth Rally from 1973 fared similarly.
Some valuable vehicles were knocked down under reserve, such as the Ferrari 308 GTS Quattrovalvole from 1985 or the Alfa Romeo Montreal from 1973.
Bargains?
Two Mercedes-Benz 190 SLs were on offer, one from 1960 and one from 1956. Both were sold at prices of CHF 117,600 and CHF 104,160 respectively.
Just a few months ago, significantly larger sums would have been required to buy one, which also applied to the Ferrari Testarossa Monospecchio from 1985 with central locking rims, which was knocked down for CHF 84,000, well below its estimated value.
However, in view of the current coronavirus situation, some consignors were perhaps happy to receive cash and relaxed the limits.
The Mercedes-Benz 280 E W123 from 1981, which sold for just CHF 4816, was certainly also a bargain. The 1960 Renault 4CV, known in Switzerland as the "Renault Heck" and in Germany as the "Crèmeschnittchen", also came into new hands at a price of CHF 7280, well below the estimated value.
All in all, the "Online Only" experiment can be considered a success, but Reinhard Schmidlin and his team are certainly already hoping that the next auctions can be held in a "normal" setting again. It's simply much more fun then and a direct exchange with interested parties and bidders is simply hard to replace.
