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
Vehicle History The Ferrari 612 Scaglietti was Ferrari’s replacement for the smaller Ferrari 456, its larger size results in the 612 having adequate space in the rear seats for adults. The design, especially the large side scallops and the headlights, pays homage to the coach built 1954 Ferrari 375 MM that director Roberto Rossellini had commissioned for his wife, Ingrid Bergman. The 612 was
Spectacular, full nut and bolt restoration Displaying only 65,556 miles! Just released from long-term ownership (over 14 years) Rare and incredibly desirable factory 1962 Thunderbird Sports Roadster One of only 1,427 built! 390ci V8 with tastefully upgraded Tri-Power induction Stunning factory color combination Options Include: Power Windows Power Steering Power Brakes
Model History The R Type is the second series of post-war Bentleys produced, replacing the Mark VI. During development it was referred to as the Bentley Mark VII, the chassis cards for these cars describe them as Bentley 7. The R Type name which is now usually applied stems from chassis series RT. The front of the saloon model was identical to the Mark VI, but the boot (trunk) was almost double
Model History Designed at Vignale, the Maserati Indy is a 2-door 4-seater Grand Tourer produced by Maserati from 1969 to 1975. The car was introduced at the Torino Motor Show in 1968 as being a prototype based on a Maserati 4.2 Litre chassis, both Ghia and Vignale showed their potential replacement for the ageing Maserati Sebring and first generation Quatroporte. Vignale’s prototype was prefe