Iconic Auctioneers The Iconic Sale at Silverstone Festival 2024 - Competition Car Sale
United Kingdom • 23rd Aug 2024
Auction Results & Market Analysis
Image Source: Iconic Auctioneers
£970,861
TOTAL SALE VALUE
28
TOTAL LOTS
HIGHEST SALE
£393,750
SELL THROUGH %
43%
AVG SOLD PRICE
£34,674
How did the auction perform?
Iconic Auctioneers delivered £970,861 in sales (inc. fees).
Of the 28 motor cars offered, the sell-through rate was 43%.
Average price of cars sold was £34,674.
How did sold prices compare to estimates?
Of the 26 listings with lot estimates show that 4% exceeded expectations by selling above the high estimate.
7 (27%) of cars sold within their estimate range.
On the other hand, 12% of lots sold below the low estimate.
This suggests that Iconic Auctioneers's valuations were highly accurate relative to current bidder appetite.
What was the most expensive car sold?
"1986 MG Metro 6R4 'Group B' Ex-Works 'C99 KOG", which crossed the block (inc. fees) for £393,750.
Estimated at £375,000 - £475,000, it sold 17% below its high estimate. This sale alone represented 41% of the auction's total turnover.
Well sold? Lots that exceeded their estimates by the largest percentage
While the headlines often focus on the top-tier sales, the Iconic Auctioneers The Iconic Sale at Silverstone Festival 2024 - Competition Car Sale also featured several entry-level opportunities.
The lot sold for the lowest hammer price was the "1957 Balino MM 'Special", which changed hands for just £10,575. For enthusiasts looking to enter the market, these lower-value lots often represent the most accessible way to start a collection.
Well bought? Lots that sold under their estimates by the largest percentage
Not every lot found a new home at the Iconic Auctioneers The Iconic Sale at Silverstone Festival 2024 - Competition Car Sale. A notable example was the 1987 MG Metro 6R4, which failed to meet reserve despite carrying an estimate of £250,000.
When high-profile lots like this don't hammer sold, it often indicates a temporary gap between seller expectations and current bidder appetite. These unsold listings now represent prime opportunities for post-auction "Off-Market" deals, where savvy buyers can often negotiate directly with the consignor.
Price vs Estimates
See how final prices compared to auction estimates.
The Top 10
See the top 10 most expensive cars to sell in the auction
Why this article was created
At The Classic Valuer, we maintain one of the world’s largest independent databases of collector car transactions, tracking over $20bn in sales across 40+ global houses.
This summary provides an immediate analysis of 28 listings, comparing auction estimates against our own independent valuation models.
Looking for deeper model-specific insights? If you are researching a specific car from this event, such as a MG, click below to access our full Model Price Guides. There, you can analyse decade-long price trends, see every historical sale, and use our valuation tools to calculate the true market value of your next acquisition.
How this article was created
This article was created by looking back analysing the catalogue of the Iconic Auctioneers The Iconic Sale at Silverstone Festival 2024 - Competition Car Sale against our historical database dating back to 1985. We've scanned over 40 auction houses and results from over £20 billion of sold cars around the world to provide context for this The Iconic Sale at Silverstone Festival 2024 - Competition Car Sale preview.
The Classic Valuer uses proprietary data and analytics to generate these insights at scale. For further information regarding specific lots like the "1986 MG Metro 6R4 'Group B' Ex-Works 'C99 KOG", please visit the price guides linked below.
About The Author
Giles Gunning
Giles is CEO of The Classic Valuer - one of the world's largest databases of sold collector cars in the world going back over 30 years covering over 13,000 models. Giles and The Classic Valuer are regularly referenced in key motor publications including Classic & Sports Car.
Giles grew up around the iconic historic motorsport venue at Goodwood and enjoys his 1972 Alfa Romeo 1600 GT Junior or 1960 MG A Roadster around the Sussex roads. His primary car goal is to purchase back a selection of his grandfather's car's including his 1931 Riley Brooklands.