How well do classics sell at auction?

Richard Hudson-Evans contributes some insightful pieces in Classic Car Weekly on the classic car market, particularly sales at auctions. In CCW out today he focuses on the proportion of cars offered for sale at auction that actually sell.

Whilst the auction houses provide good quality, professional services in a competitive market, the costs of selling at auction are considerable. See our article illustrating auction costs for the buyer and seller. More

MGV8 Price Guide update
Last update to the end of April 2019 released early in May. More

Classic Car Weekly is a well regarded classic car newspaper which comes out on Wednesdays providing news items, vehicle reviews, auction news and private and trade adverts. More

Updated: 190724
In Richard Hudson-Evans' article in his series a "week of looking at the market" in the latest issue of Classic Car Weekly out today, his comment is "fewer cars are being retailed and increased competition between auction firms is resulting in larger and longer auctions with markedly more cars being dispersed in the UK at no reserve, where consigned cars are on a one-way journey to almost certainly whatever is bid net of auction charges". He also notes this has led to more competition, but the right cars are still selling. His analysis of "the 10 sales (auctions) reviewed during the six weeks of mid-summer, records 674 classics sold from 1,094 offered for sale". Overall that indicates only 62% were sold at auction in that period.

His notes on the selling rates at auctions mention:

Auction
Sale rate
H&H
Imperial War Museum
68%
ACA
Kings Lynn
79%
Barons, Richard Edmonds & Charterhouse
51%
Brightwells
Leominster
73%
Historics
Brooklands
64%
Overall sale rate
62%