Bonhams Goodwood Festival of Speed Auction Report – July 1, 2011
Report by Rick Carey, Auction Editor
Goodwood is good for Bonhams … and the other way ‘round.
With 95 cars crossing the block and 84 sold, Bonhams turned in a stellar 88.4% sale rate and $11,635,152 in total transactions.
Nineteen cars sold at or above their high estimate, 22.6% of the cars and the hammer bids on sold lots were 113% of the low estimates, both outstanding numbers that indicate a strong market running ahead even of the professional opinions of Bonhams’ specialists.
Goodwood during the Festival of Speed is an environment that seduces spectators to imagine becoming participants. Like Monterey, the excitement of the weekend (and its sister event, the Revival, in September) offers sights, sounds and smells that create a compelling atmosphere. That enthusiasm feeds the auction environment and Bonhams responds with an equally compelling consignment that spans the range of spectators’ resources, from under $10,000 to well into six figures.
In fact, thirty of the cars sold, 36%, brought hammer bids over $100,000; twenty-three (27%) were hammered at £100,000 or more.
A car for every taste is a common claim, but at Bonhams Goodwood it was nearly true. With cars ranging from a 1924 Bentley 3-Liter Speed Model (and a 1928 as well) and a pair of GP Bugattis to a Pagani Zonda C12S Roadster, the only category that came up short were antiques and Edwardians – and Bonhams has other sales that feature those.
There were several instances where very similar cars were sold, making it useful to present them in sequence so for this report the cars are grouped alphabetically by Marque.
Photos are courtesy of Bonhams; photographer credits where appropriate are in the descriptions. Results are translated from UK£ at rates from FRED, the Federal Reserve Economic Database.
Bonhams Goodwood Festival of Speed 2011 – Auction Report