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Wednesday, 18 March 2020 16:56

How COVID-19 is Affecting Collector Car Auctions

Written by Jeffrey N. Ross, Motorious

Index

Spring is usually a great time to buy a classic car, but the worldwide spread of coronavirus has thrown a monkey wrench into the plans of car collectors as health concerns cancel sizeable gatherings. 

Even though the recent Amelia Island auctions occurred without any serious health concerns, upcoming auction events are being cancelled as the U.S. government attempts to contain the virus and limit its spread.
 
Each of the major auction houses have made different plans for upcoming events, and here is what they are so far:
 
Barrett-Jackson
 
Barrett-Jackson announced it is postponing its 18th annual auction event in Palm Beach, FL. This event was scheduled to take place April 16-18, but the dates have been rescheduled to Oct. 15-17. 
 
“This is truly an unprecedented challenge in our country’s history, and one we take very seriously. That’s why in the coming weeks, we’ll continue to work closely with local governments and health officials as we plan for future auctions," said Steve Davis, president of Barrett-Jackson.
 
RM Sotheby's
 
While Barrett-Jackson is postponing its upcoming Florida auction, RM Sotheby's said its Palm Beach auction will remain on the scheduled March 20-21 dates, but the auction itself will become an online-only event through RM Auctions
 
With the virus spreading more rampant in Europe, RM Sotheby's is postponing its Techno-Classica Essen in Essen, Germany, which includes the 97-car Petitjean Collection. This auction will be rescheduled to mid- to late June. 
 
"Given the spreading virus in the U.S. over the past several days, and the concerns for the safety of our clients and our staff, we have decided that it is most prudent and responsible for us to cancel the physical auction where we anticipate more than 1,000 attendees," said Kenneth Ann, RM Sotheby's Group president.

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