Shannons Auctions, the renowned Australian classic and collectible car auction house, has announced its decision to cease trading after four decades. The move comes in response to the growing number of competitors entering the market, putting increasing pressure on Shannons’ position as the pre-eminent player in the industry.
The car auction landscape in Australia has evolved significantly in recent years, with a growing demand for frequent and low-cost online auctions. Acknowledging this shift in customer preferences, Shannons said, “In recent years we have seen a significant increase in the options available to our customers for buying and selling vehicles and plates. In light of these developments, the company conducted a thorough review of its offerings and determined that auctions were no longer an essential aspect of its core business, which includes insurance services as a subsidiary of Suncorp.
As Shannons Auctions departs the auction scene, it leaves behind a legacy of memorable sales and record-breaking transactions. Not limited to cars and motorcycles, the auction house also facilitated the sale of petrol bowsers, automobilia and rare heritage number plates. In May 2022, Shannons Auctions achieved a remarkable feat by setting a price record for two-digit number plates in Australia, with Victorian plates “14” fetching $2.38 million.
Shannons Auctions has received tremendous support from its loyal customer base, community and industry partners throughout its four decade history. Anastasia Alexopoulos, National Auctions & Events Manager for Shannons, expressed her gratitude to these stakeholders, stating, “We are eternally grateful to our customers, community and industry partners for actively supporting our business for over 40 years.
