First published on curbs-magazin.com
Originally published on curbs-magazin.com – now part of slickpix.de.
Interview with Wolfgang Jochum, Head of the Classic Cars Department at Auctionata AG in Berlin
CURBS: Mr. Jochum, how did your interest in classic cars develop? What sparked it? How passionate are you about the subject today, and how closely do you follow it?
Wolfgang Jochum: I was born in 1967 and witnessed Niki Lauda’s rise at Ferrari starting in 1974. That experience shaped my relationship with motorsports and automobiles. After holding various positions at Auctionata, I was given the wonderful opportunity to establish and lead the classic cars department, allowing me to devote myself entirely to my passion. I deal with classic cars on a daily basis and am also actively involved in (historic) motorsports in my free time.
CURBS: How do you assess the developments in the classic car market generally over the last 15 years, what has significantly influenced these market developments from your perspective, what trends do you see, how do you motivate Auctionata AG's entry into the classic car auction market in 2014?
Wolfgang Jochum: The market for classic cars has grown by 500 percent or more in recent years, particularly in terms of price trends for certain brands and models. This is due to the emergence of a new group of buyers, in addition to traditional collectors, who have discovered classic cars as a lucrative investment. In addition, there is a younger group of buyers who are advancing rapidly in their careers at a very early age—a trend certainly linked to the startup boom—and who are investing in supercars from the 1980s to the 2000s, as these are the cars of their dreams from childhood and youth. This trend is also evident in our online auctions. After launching our weekly livestream auctions in May 2013, we observed that the luxury segment (jewelry, watches, wine) was particularly well-received by online bidders. A deep passion for automobiles, combined with our success in the luxury sector, led us to launch our online auctions in the classic car segment, with prices ranging from 25,000 to 150,000 euros.
CURBS: Auctionata AG is an online auctioneer. What fundamental advantages does your company offer a vehicle owner who wants to auction their classic car compared to traditional auctions?
Wolfgang Jochum: Thanks to our livestream technology, we are able to reach potential bidders around the world, as interested parties can follow our online auctions live via computer, tablet, and the “Auctionata Live” iPhone app. In addition, the consignor receives a comprehensive marketing package featuring professional photos, newsletters, and international public relations.
CURBS: In particular, auction results for historic race cars have risen disproportionately over the past seven or eight years; it is not uncommon for auctioneers to now generate 20 percent or more of their total revenue from just half a dozen historic race cars. How do you explain this trend? To what extent do you think this trend at the top also influences the market as a whole? How interesting is it for Auctionata to align the portfolios of its online auctions with this market segment?
Wolfgang Jochum: Events featuring historic vehicles—such as the Monte Carlo Rally, the Goodwood Members’ Meeting, the Mille Miglia, the Oldtimer Grand Prix at the Nürburgring, or the Goodwood Revival—have now evolved into popular gathering spots for enthusiasts and, above all, into a prestigious sport. A prerequisite for participating in these races is owning a historic race car with as much history as possible, in terms of its original drivers and the successes achieved. In general, this segment will also become interesting for us in the near future.
CURBS: Auctionata has now organized about a dozen classic car auctions over the past year or so. What is your initial assessment? What were the personal highlights for you, and what insights have you gained that will influence your future work?
Wolfgang Jochum: Over the past 12 auctions, we’ve experimented a lot, learned a great deal, filled a gap—especially in the mid-market segment—and achieved good results. A look back at the 2015 auction season shows that the Classic Cars category has successfully established itself at Auctionata within a year. In particular, the excellent results of our “Ferrari Only” auction were an important milestone for us, demonstrating that we can also establish ourselves in the luxury automotive segment. With the lessons learned this year, we will certainly hold fewer auctions in 2016 and take the advice of our buyers, prospective buyers, and consignors into account during planning to organize even better auctions.
CURBS: What Auctionata highlights in the classic car sector can you already point to for the coming months, and what is planned for 2016?
Wolfgang Jochum: Interested parties can look forward to a mixed auction in early 2016 (expected February 26), which will be broadcast online from Berlin as usual. There will certainly be one or two brand-specific auctions again, such as Ferrari or Porsche. In addition, we are in negotiations with several high-profile organizers to present our vehicles at established trade shows and to introduce our live-streamed auctions to the public.
