Bonhams’ £5m Goodwood Members’ Meeting auction

Despite worries about muddy car parks and yet more rain, this year’s Goodwood Members’ Meeting was another success. While there was nothing really special on offer at the classic car auction held on the Sunday of the two-day event, the Bonhams Cars team turned in a solid performance to sell seven out of 10 motor cars listed in the bumper, 102-car catalogue.

Like the last few years, the sale was conducted on race day at the low-key Members’ Meeting. Big-ticket entries have rarely featured at this event and this year was no exception. The top-selling (£425.5k all-in) Mercedes-Benz SLR McLaren 'Crown Edition' Coupé came from Bonhams’ familiar Middle East consignor and one wonders when – and if – this source ever dries up what the effect will be on the Bond St firm’s business model.

For now, it, and the usual selection of bargain-basement ‘DB’ Astons and region-specific modern luxury cars with zero paperwork and no history file, fortified the figures to produce a decent result.

At a glance:
 
* Gross, motor cars: £5,070,312 (2023, £6,305,638)
* Percentage sold by number: 70% (2023, 73%)
* Top-selling car: 2008 Mercedes-Benz SLR McLaren 'Crown Edition' Coupé £425,500 gross, £370,000 net (est. £200k to £300k)

It was a good day for:

* The 1936 Frazer Nash TT Replica (£150k to £200k) that sold for £276,000.
* The 1927 Bentley 3 Litre Sports restoration project – £50k to £80k – that was bought for £101,200.

Both the above show there is life left in the market for sporting pre-War cars.

* The 1954 Bristol 450 Le Mans Aerodyne Coupé Recreation (pictured, top). ‘Evocations’ and ‘continuations’ rarely do well but this was a charismatic and faithful replica of one of Britain’s more unusual 1950s sports-racers. Broadly estimated at £140k to £240k, it sold for a fair price of £172,500.
* Whoever bought the 1,700-miles-from-new 2006 Ferrari 575 Superamerica F1 for £189,750. It needed a degree of recommissioning (last serviced in 2016) but Blu Mirabeau with Nero is a nice spec. And not Rosso/Crema. A limited-edition, proper V12 Ferrari with 186mph (300km/h) performance for modern Porsche-with-options money.

It was a bad day for:

* Pedestrian 1920s and ’30s saloons, limousines and tourers, Rolls-Royces in particular.
* Jaguar XK sports cars at £75k+. None of the XK 140 FHC, XK 150 S 3.8 DHC the XK150 3.4 DHC sold.
* Expensive pre-War. The 1936 Lagonda LG45 Rapide Tourer was a nice car from 65 years in single ownership but the combination of old-fashioned ‘Tourer’ bodywork – that only works well today on a Le Mans Bentley or Alfa Romeo 8C – plus punchy estimate of £450k to £600k meant it went home unsold. Maybe another place or another time. Certainly another estimate.
* Bentley R-Type Continentals. Another no sale at £450k to £550k for a metallic red, RHD, automatic 4.9 with comfort seats (in flashy cream-piped-red).

All quoted prices include Bonhams’ heavy 15% buyer’s premium for sub-£500k hammer vehicles.

Bonhams at the Goodwood Members’ Meeting, 14 April 2024 – results (2023)

Gross: £5,070,312 (£6,305,638)
Number of cars not sold: 31 (26)
Number of cars withdrawn: 0 (4)
Total number of cars: 102 (95)
Number sold: 71 (69)
Percentage cars sold by number: 70% (73%)
Percentage by value average low/high estimate: 51% (52%)
Percentage of cars met or sold below low estimate: 55% (68%)
Percentage of cars sold below avge of estimates: 77% (87%)
Percentage of cars sold met/exceeded top estimate: 15% (9%)
Average price of cars sold: £71,413 (£91,386)
Average year of cars offered: 1965 (1961)
Percentage of cars offered at No Reserve: 26% (35%)

Photo by Bonhams