Gateway’s first sale exceeds expectations
Monday, 27 February 2023 at 16:15:00 UTC
New timed-online auction records 72% sale rate
Gateway Auctions Classic Cars’ first timed-online auction exceeded the firm’s expectations for the number of cars entered and sold.
The auction had 340 registered bidders for its first sale and 72% of the lots were sold, with others under negotiation post-sale. There were 58 lots entered, which was double the number of cars that Gateway had expected to see in its first sale.
David Sunderland, Gateway Auctions’ Managing Director, said: ‘This sale went way beyond our expectations. While Gateway’s reputation has been established over 20 years, it wasn’t until last month that we decided to launch the Classic Cars side of the business, and the response has been staggering.
‘This all bodes well for the future and proves that our combination of a timed-online system, use of six major online bidding platforms, and ability to physically present lots for viewing on our purpose-built site – a unique feature in the North West – has been an instant hit with buyers and sellers.’
Among the star lots at this sale were a former British Touring Car Championship BMW 1-Series that had been driven by Tordoff and Collard. It sold for £56,000, going well above its £40,000-£50,000 estimate. A Rolls-Royce Corniche coupe sold for £40,600 to beat its £30,000-£35,000 estimate.
Gateway Auctions Classic Cars next timed-online auction starts for bidding on 20 March and closes on 22 March.