Market: £55m spent at UK classic car auctions in July!
It wasn't just the weather that was hot – the UK classic market was strong, with record sales, more than 600 cars sold and one company recording a 97% sale rate
Despite gloom-laden forecasts from the Governor of the Bank of England, £54.61m was invested in 621 classics at auction in July; 1012 cars crossed the block and the overall sale rate (where prices were published) averaged 61%.
There were buyers for all but two vehicles at the SWVA Drive Through just outside Poole, Dorset, where a month-leading 97% of vehicles sold, including a 1963 Vanden Plas Princess for £12,960, more than twice the lower estimate.
Most of the high value cars sold out in the Bonhams auction tent at the Goodwood Festival of Speed during a £32.3m afternoon, the auctioneers’ highest-grossing car sale in the UK. The results were led by the record £10.1m achieved for the 1961 Aston Martin DB4GT Zagato ‘2 VEV’ and the John Surtees 1957 BMW 507 Roadster, which sold for £3.81m. But there was also the £365,500 paid for a 2014 Defender SVX Spectre, one of ten built by Land Rover SVO for the 2015 Bond movie •Spectre* (below), which was way over the £220,000-250,000 forecast.
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One of three Ferrari Dinos for sale at Goodwood however, a 1991 restoration of a 1973 GTS, failed to clear the £250,000 minimum sought. Meanwhile a 1973 GT needing cosmetic improvement made £199,740 and a 1972 GT project was taken on for £141,500.
In contrast, at the Silverstone Classic, a sympathetically restored 1972 GTS (below) estimated at £270,000-320,000 inspired a long bidding battle. It went to the winning couple for £343,125 with premium.
The Ferrari transaction monitoring HAG1-F meanwhile is the only Index of five such Historic Automobile Group International indices to have recorded any growth in 2018 so far. Although Ferrari prices fell by 0.44% in July, the HAGI-F has increased by 0.93% year to date.
Restoration projects continue to attract pre-sale publicity and duly sell for uneconomic prices. The latest barn-find – this suitably dusty numbers-matching 1962 E-type S1 3.8 coupé that had been asleep for 35 years in Moray, Scotland – was auctioned by H&H in Derbyshire at no reserve and briskly bid to £67,000, costing the buyer £75,375 with premium.
Another talking point H&H lot at Buxton was a one-family-owned-from-new 1967 Morris Mini 850 Super De-Luxe. It had covered just 36,000 miles, having been taken off the road in 1983. It was largely unmolested, with a quite extraordinary timewarp interior, and had remained well preserved in the same domestic garage for more than 50 years. It had been estimated to sell for £6000-8000, but raised £15,188 including premium.
Of the record 144 consigned cars parked around Buxton's Pavilion Gardens however, one of the most viewed items was a 1963 Rover 95. Uprated with overdrive, cruise control and power-assisted steering during a £120,000 restoration in 2002/3, and estimated at £9000-11,000, this Auntie P4 changed care homes for £16,988 with premium.
The smallest classic to sell for the highest auction price at the eleven sales reviewed was this minute 1963 Peel P50 restoration project, which made a giant-sized £49,500 at the Brightwells sale in Herefordshire. According to Brightwells, the Isle of Man-made microcar with psychedelic paint-job from the flower power era had once been used for'guess how many balloons it holds' competitions!
Peel Engineering’s fibreglass-bodied, DKW 47cc powered, one-seaters retailed for £199 in the 1960s. and you may recall that one was once memorably driven around the BBC TV offices by Clarkson on Top Gear. In March 2016, a Peel sold for $176,000 (£200,000) at the RM Sotheby’s Amelia Island, Florida – which makes even the impressive Brightwells sale pale into insignificance!
Classic Cars for Sale
The 928 is a sports coupé that is constructed in a special way. In the front is a water-cooled aluminium V8, the gearbox is placed above the rear axle and ensures a better weight distribution. The bonnet, front fenders and doors are made of aluminium. The body is entirely zinc-plated, the front, the rear and the sill protector are made of plastic. This is an neat and well-maintained Porsche 928 S
Car of Italian origin. According to the export documents, it belonged to a single owner (a lady born in 1927...) since 1971 until 2003.In 2003 it was imported into Belgium, and sold in 2008 to a collector in Holland, to finally be sold in France in 2015.During the technical inspection in 2008, the counter showed 44000 km, since then the vehicle rode only small distances: a little more than 100 km
DETAILS - Inspection: valid until 2020- Owners: 1 - Engine: 650 cc - Mechanics: Original - Seats: 4 - Tyres: goodDESCRIPTION FIAT - 500 L from 1970, restored and customised with great care some years ago and always stood in a garage after the owner’s death. 650 mechanics and well-performing synchronised gearbox. Mechanics with only 76,000 km, oversized brakes and drums for steady and responsive
Mercedes 350SL R107 1972 with a very early chassis number 000630.Arizona import, rust-free, with booklets and an original Becker radio and Euro bumpers.The car runs and drives well, but has poor paintwork (repainted years ago in the US), the original colour is cream (this colour is still visible under the bonnet).Hardtop and soft-top. The soft-top needs to be replaced but a new beige top will be i