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Covid has led to classic auction boom says Car and Classic CEO Tom Wood
(Volkswagen)
Classic car sales have boomed in 2020, despite the coronavirus pandemic – driven by a shift towards online auctions.
That’s the view of Tom Wood, CEO of Car & Classic. “With traditional auctions closed, people have wanted to sell cars without physical contact,” says the tech entrepreneur. “Visits to our site are up 30 percent this year, but online auctions have grown 60 percent month-on-month.”
Car & Classic is Europe’s largest marketplace for collectable cars, with more than 40,000 vehicles listed at any one time. Its new auction website launched in July and has sold 160+ cars to date, with a total value of around £3 million.