The market for fine automobiles has gone from strength to strength in recent years as the appetite for luxury classic cars continues to grow in countries such as China, India, and the Middle-East. Evidence of the increasing desire for classic cars is the fact that six of the top ten highest prices achieved for cars sold at auction were set during 2011/12.
According to Max Girardo, Managing Director, RM Auctions Europe, “2012 has been another vibrant year for the collector car hobby. The market has continued to show resilience to the worldwide economic storm with solid results recorded across the board, records continuing to tumble for rare and exceptional automobiles sold at auction, and select automobiles pushing the levels of high-end art to redefine the top-end of the market.”
David Gooding, President and Founder of Gooding & Company, the auction house acclaimed for selling the world’s most significant and valuable collector cars, has high hopes for the classic car market in 2013. “Our 2012 auctions attracted an unprecedented level of international spectators and new collectors, which shows us that there continues to be a growing demand all over the world for blue chip cars,” says Gooding. “I anticipate an even greater sophistication among buyers and sellers in 2013, greater appreciation for historic, pre-war cars and more interest in post-war European sports cars in our thriving, global community.”