Not a particular criticism of Matthewsons but an observation of perhaps the perfect business model. Selling something that’s not yours and charging both the seller and buyer.
I remember the days when sellers paid 5% commission. The buyer paid the hammer price, say 20 guineas, the seller got paid £20 and the auctioneer pocketed the 20s difference! I was amazed when buyers' premiums came in.
In fairness to Mathewsons though, as Nick says, their rates - entry fees £40 and sellers commison 7.5% up to £20K - are below average. The video is interesting and does acknowledge that Mathewsons have staff and property overheads. Their Companies House filings don't include a profit and loss account, but the balance sheet reveals in 2025 they had 25 employees and a property lease cost of £468K.
My main gripe with Mathewsons is their constant banging on about pre-war cars not selling because no-one remembers them. That might be the situation in their corner of the market but other parts of the classic car world are still able to distinguish history from memory.
Also interesting is that the business,
Mathewsons Classic Cars Ltd is wholly owned by the sons Dave and Paul, the company bought the auction business from DT Mathewson & Sons on 1st April 2022 for £2million. Derek is just the figurehead not the boss!
