Classic cars drive record auction frenzy on Grays marketplace

Grays

CLASSIC CARS DRIVE RECORD AUCTION FRENZY ON GRAYS MARKETPLACE

Grays marketplace sees a bidding frenzy and record prices for the February Classic Car Auction event featuring a stellar range o classic Australian vehicles.

Sydney, NSW, March 2021 The recent Classic Car Auction conducted by Grays marketplace in February drove record numbers. Grays saw over 1.3 million total page views and nearly 200,000 unique visitors over the course of the auction that featured a range of classic Fords and Holdens.

Fans and collectors alike continue to drive demand for Australian classic vehicles from both the major badges, with strong competition delivering fantastic returns to sellers.

The auction saw 330 classics go under the virtual hammer in one of Grays’ biggest ever Classic Car Auctions. The top four sales recorded were for these iconic beauties (pictured to the right):

· 1978 Ford XC Cobra #206: Sold for $194,000

· 1970 Ford Falcon XW GT: Sold for $183,000

· 1977 Ford Falcon XC Fairmont Coupe: Sold for $170,000

· 1972 Ford Falcon XA GT Hardtop: Sold for $131,000

One of the most interesting and obscure vehicles that was offered for sale was a 1963 Holden EJ Taxi, resplendent in its original livery, which sold for $45,000.

“We are used to seeing strong demand for classic Australian cars, but we’ve never seen anything like this. Clearance rates have never been higher and we don’t foresee demand or prices falling in the near future” said Grays CEO Chris Corbin.

Since the onset of the COVID-19 pandemic, Grays has continued to see demand outstripping supply, demonstrated by huge numbers of visitors and bidders, and record prices for a variety of classic Australian cars.

On top of that, the used car market has spiked during the pandemic, with Moody’s Analytics finding that prices for second-hand vehicles have jumped up to 35% in the past year. This surge is being driven by the limited supply of new vehicles, fewer trade-ins and increased demand.

Buyers looking for quality used cars can find thousands on Grays marketplace, often being offered in unreserved auctions. As Australia’s leading online marketplace, with an established customer base of more than 3 million individuals and businesses, Grays is the go-to marketplace for classic and everyday cars.

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