Bonhams, Greenwich Concours d’Elegance, Greenwich, Connecticut, June 5, 2016
Despite a new and attractive setup at Roger Sherman Baldwin Park on Greenwich harbor and a sudden rain squall that drove concours spectators into Bonhams tent [resulting in a rash of catalog sales, the price of refuge from the elements] the Greenwich Concours d’Elegance crowd proved a tough one for auctioneer Rupert Banner.
This was Bonhams ninth year at Greenwich and the Wennerstrom family re-organized the concours layout to better utilize the harbor-front vistas and provide more and better space for a growing cadre of vendors, exhibitors and the Bonhams auction. Greenwich is one of the most wealthy communities in the world (despite the state of Connecticut’s determination to balance the state’s overblown budget from the pockets of its most successful residents which is causing a corporate exodus including the headquarters of General Electric) and the exhibitors reflected the considerable disposable income of its setting.
So did the Bonhams bidders’ tent, but they kept their hands largely in their pockets. The headline lots mostly went home with their consignors. Six lots had bids in excess of the highest successful transaction, leaving high bids on the table for a total of $7,320,000 on those six lots alone. Had either of the two highest bids been accepted the sale total would have been Bonhams’ best ever at this event, but it was not to be.
The overall numbers are quite good in sell-through and median transaction, aided by a sizable consignment of cars without reserve. It’s only at the top of the market where caution is moving to the fore, a situation that’s not peculiar to Greenwich or to Bonhams but is being seen across the board in the auction market.
Here are the numbers:
Most photos are by the editor but he had his head someplace where it was hard to see part of the time and one of the photos are catalog photography courtesy of Bonhams.
Bonhams Greenwich 2016 – Auction Report