All’s well at the auction house

There was nary a suggestion of a virus pandemic or economic anxiety in the packed auction room at Webb’s collectors cars and motorcycles auction in Auckland on 12 July. It was as if the woes of the world did not exist, or if they did, bidders felt the strength of classic car values might provide some distraction or even insulation.

Only three of the 16 vehicle lots came away unsold, representing a success rate of more than 80 per cent, putting the usually robust Auckland residential property auction closures well in the shade. As Webb’s consultant Ian Nott says, “Classic and collectable cars are showing themselves to be stable investments over long periods. The old adage, ‘You don’t make money when you sell but when you buy’ is never more pertinent than it is today.

“The sale demonstrated a burgeoning market for buyers seeking true classics in original and well-maintained condition,” says Ian. “We have already had several enquiries relating to our next auction