Last week, Bonhams’ Cars held their last tentpole auction event of the year at Goodwood Revival. Dozens of cars crossed the block amid the excitement of vintage racing and nostalgic costumes celebrating decades of motorsports heritage in England. In this week’s Market Monday, we’re going to recap the results and see how our pre-auction predictions fared in this exciting sale.

The auction house consigned 88 automobiles spanning years of motoring history for this year’s sale. In total, 47 sales were closed at Goodwood. The resulting sell through rate was 53%, which is down from Bonhams’ performance in Monterey, but more on par with their typical sell through rate. Sales volume was $8.6 million USD.

Last week I selected 10 cars I felt represented different aspects of the collector car market, from enthusiasm for military vehicles to 80s and 90s RAD-era sports cars. Below, I share my original perspective and the results from last week’s auction for each prediction.

What I said: “While the venue is undoubtedly a good fit for this car, its result may answer the question ‘Is WWII militaria still a popular hobby?’ I question whether this will reach its guided estimate of $26-30,000USD. I say no.”

This cool little Jeep sold for $24,790 USD, which is a little more than I thought it would go for, but also under the low estimate for the car, as I predicted. It would seem that the military market, especially at an event like Goodwood, still has some juice. As a no reserve auction, it was going to sell no matter what.

What I said: “I love Rileys, as they feature interesting engineering and are a bargain relative to their contemporary marques. This is not an original competition Riley, and it’s asking pretty big money for a Riley at $120-170,000 USD. I fear a no-sale here.”

Sadly, I have to chalk another win on this lovely little blue Riley. It failed to meet reserve at a mere $89,298, which is far far below its guided estimate. It’s quite a lot more than I could plunk down, so it’s lucky that more affordable Riley specials come up for sale fairly often.

What I said: “This beautiful Abarth-bodied Simca appears to be the same car that was unsold on Collecting Cars with an undisclosed bid-to price. The guided price is nosebleed territory, so I fear this will also be a no-sale as it was back in July.“

Guided at $190-230,000 USD, this awesome little Abarth-bodied Simca failed to sell at a high bid of $164,150, well shy of the low estimate and apparently under the reserve price as well. Sometimes I hate being right.

What I said: “I consider this to be one of the most beautiful coupes of the 50s and it just happens to have been built by one of the most innovative car companies ever. While the guide is reasonable at $110-160,000 USD, this one is set up for vintage racing which limits its appeal a bit. I think it sells, but just barely.”

Unfortunately, bidding stalled out at $91,924 and it would appear this absolutely stunning Aurelia did not sell, though perhaps a deal will be able to be struck post-sale. Perhaps my own bias for these cars clouded my judgment a bit on this lot.

What I said: “Rounding out our older generation cars is this pretty nice Pre-A 356. Unfortunately, Pre-As aren’t selling big in 2024. I smell a no-sale here based on the guided price.”

Well, I’m pleased to say I was wrong, kind of. This car sold for $165,267 USD against a guide of $170-209,000, meaning it BARELY met a reserve that was just below the guided estimate. 

What I said: “While it’s not a real Carrera RS, the car is billed as having all the performance of a real one at a guided price appropriate for a C2 964. This lot will be a great test of whether analysts are right that the 90s are the new 60s. I think if it sells it will be at the low end of the estimate…”

Guided at $85,000-98,000USD, this car sold for $78,126. I consider that to be kind of well sold for a car that’s been modified from original and in this condition.

What I said: “Perhaps a car that proves the rule, 930 Turbo Slant Nose Porsches are selling well. Coupes in particular do well, and the low mileage on this example bodes well for it. I think this one sells within its guide of $210-260,000 USD.”

I’ve been studying the 930 Turbo Slant Nose market a lot lately, so maybe my recent research helped me here. This car sold for $232,877. Chalk another win up for me and for the RAD-era cars.

What I said: “80s and 90s Mercedes Benz cars are becoming more and more popular. The guide is reasonable at $26-39,000 USD and is offered at no reserve. My guess is this will hammer between the mid and high end of its estimate if previous results are any indication.”

As a no reserve car it was selling regardless, but this cool Merc hammered for just $19,531 USD against its estimate.

What I said: “Another 80s icon, especially across the pond where rally racing is ultra-popular, is the Ford Sierra RS500 Cosworth. This car, with its low production number, low miles and good condition in nice colors should generate spirited bidding. At a guide of $130-200,000 USD I think this car finds a buyer at Goodwood.”

Nailed it. This cool little homologation icon sold for $172,779 or right in the middle of its guided estimate.

What I said: “As they only made 214 in total, these cars do not hit the market much, making valuation somewhat difficult. This particular car has higher mileage relative to other sales, making its guide of $650-780,000 USD optimistic, in my view. I predict a no-sale on this beauty, sadly.”

Here’s another case where I wish I weren’t so good at this. This awesome Sport Quattro failed to meet reserve and was a no-sale at a high bid of a mere $577,808 USD. The auctioneer claimed the high bid was very close, so perhaps the seller will take a bit less and pass this beauty on to a new owner.

While one auction event does not the entire market make, one could look at this little cross-section as supporting evidence of the generational shift in the car market with only one of the modern cars failing to sell. That would be wrong! Many of the modern vehicles at Goodwood also failed to sell, such as this gorgeous 2002 Aston Martin Vanquish Coupe and rare 2021 Aston Martin V12 Speedster.

While I share fellow car industry pundits’ belief that there is a generational shift in buyers for collector cars, I believe the macro condition we’re seeing is a market that is in decline overall and affecting nearly all sectors. There are still a couple of sales before the end of the year, and as usual, we’ll continue to monitor those results for insights to prepare us for what’s to come in 2025.

Wolf and Mare provides car finding, appraisals, and auction services for buyers and sellers of collector European cars. If you’re interested in acquiring an overseas car, give us a call or drop a line!