Auction Stats

Market Report / October 2024

by CLASSIC.COM |

We saw an increase across all metrics in October 2024 compared to last year, primarily due to a few one-of-a-kind live auctions held this year that weren’t offered in 2023. This underscores the value of live auctions, which, though less frequent than their online counterparts, deliver powerful results when auction houses curate unique collections and put the full force of their marketing behind them.

October Breakdown

The 44% increase in Dollar Volume was driven by a 124% increase ($99M) in live auction sales compared to last year while online auctions showed stability year-over-year with a modest 5% increase.

We can track the majority of the $99M increase in live auction volume to a series of one-off live auctions held this year that did not occur in 2023:

Sold Listings increased 25% overall, with online auctions growing at 17% and live auctions growing 43%. Again, we can attribute this to the one-off live auctions outlined above combined with the steady growth of online auctions we've seen the past few years.

Similar to Dollar Volume and Sold Listings, the 15% increase in Average Price compared to previous years can be attributed to the high-value listings at the one-off live events listed above. Average price at online auctions in 2024 continues to trend below both 2023 and 2022.

Sell-through Rate (STR) in October has been on a downward trend the past few years, but this year we saw an uptick in STR for both online and live auctions.

Notable Sales

Top 10 Sales / October 2024

As usual, the Top Sales this month were dominated by the live auctions, especially RM Sotheby's Junkyard auction, which holds 4 of the top 10 spots due to the rarity of the collection sold at that one-off event. We also saw one online sale break the Top 10 this month - with Bring a Trailer, coming in at #7 with a $2M sale – their 4th highest sale this year and 14th highest sale of all time.

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Top 10 Flips & Flops / October 2024

Each month, we track "Flips" and "Flops," which we define as cars with documented previous sales. This enables us to calculate the net gain or loss and the time elapsed since the last sale. While some purists argue that a genuine Flip/Flop occurs only within a 12-month timeframe from the previous sale, we believe this list offers entertainment and valuable insights that a narrower window would overlook. Admittedly, it's plausible that cars have changed hands in private transactions between these public listings; nonetheless, this data provides valuable insights into which cars have realized significant gains or losses compared to their previous sales. Enjoy this data at your own discretion.

Flips

Flops

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Market Busters / October 2024

While most statistics and reviews tend to concentrate on the upper echelon of the market, noteworthy examples are consistently emerging across all segments of the industry. Our "Market Busters" chart showcases listings that broke records within their respective market segments and across all value tiers.

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Year-to-Date

This Report includes data from the following auctions:

Online Auctions:

US Live Auctions:

UK / EU Live Auctions:

* A Market on CLASSIC.COM is a grouping of comparable vehicles that have, at a minimum, the same Make, Model, and Model Generation. When relevant for purposes of valuation, a Market may be further segmented by Model Variant, Trim, Transmission Type, Body Style, and other factors. 

**The CLASSIC.COM Market Benchmark (CMB) is a benchmark value for vehicles in a given Market based on data accumulated by CLASSIC.COM and calculated by a proprietary algorithm that takes into account volume and recency of each data point. CMB can be used to assess the performance of a market over a given time period. However, it does not represent the value of a specific vehicle. 

Read more in our Glossary of Terms