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Classic cars breaking auction records in 2018

By Will Grahame-Clarke, 20 Jul 18

A record price for a British car at auction is indicative of a strong season for classic car collectors.

The most valuable British car ever sold at European auction is the ‘2 VEV,’ an ex-Essex Racing Stable, 1961 Aston Martin ‘MP209’ DB4GT Zagato (pictured). If you want to protect yourself from discomfort during long car rides, products like a car window shade can be availed.

It sold in the room to an anonymous European buyer for £10,081,500 (€11,273,284, $13,129,520).

Aston Martin was the favoured marque of the day at the Goodwood Annual Festival of Speed sale conducted by auction house Bonhams, with the 1965 Aston Martin DB5 Sports Saloon that starred in the James Bond film GoldenEye exceeding its estimate and achieving £1,961,500.

It was bought by Spyscape, the education and entertainment company focused on the world of espionage and secret intelligence.

Record Ferrari

James Haithwaite, client services director of Jersey-based First Names, said the sale rooms were still buzzing from the record breaking sale of a 1963 Ferrari 250 GTO that was sold early last month to an American collector.

A specialist in holding structures for vintage car collections, Haithwaite said it was bought by WeatherTech chief executive David MacNeil for a world-record-breaking $70m.

He paid $32m more than the previous record price set at auction just four years ago – another 250 GTO.

“Rarity is one factor, with the car being one of just 36 Ferrari 250 GTOs ever made,” explains Haithwaite. “Moreover, this particular vehicle (serial number 4135GT) is made more unique by its distinctive silver and yellow livery, as opposed to the usual red.

“Even more noteworthy is its originality. Unusually for a race car, it has never been crashed, meaning it hasn’t ever required extensive repairs and remains mostly original.”

‘Autobiography’

“Perhaps most attention-grabbing, however, is its impressive history,” adds Haithwaite, “which includes endurance races, hill-climbs and rallies”.

“Before being held as a centrepiece in several private collections, the car had achieved a fourth-place finish at Le Mans in 1963 and won the 10-day Tour de France road race in 1964.

“The car’s history is very well documented; it even has its own dedicated autobiography.”

Provenance

History is also a stand-out factor for both of the recent record-breakers at Goodwood, notes Haithwaite, which underlines the importance of provenance – the record of the car’s ownership, races and associated events.

“For classic car owners, therefore, working to maintain and grow a car’s profile is a key way of increasing its value,” he said.

“This may mean participating in specialist events such as the Tour Auto or Mille Miglia, high-profile concours such as Amelia Island, Villa D’Este and Salon Privé, and/or leading racing events such as Goodwood, Monaco Historic and Le Mans Classic.

“In addition, keeping detailed records of this activity is vital for future history collation when the time comes to sell.”

BMW

The Goodwood sale last week also saw a BMW break the world record price for the marque.

The 1957 BMW 507 Roadster, belonging to John Surtees CBE, fetched £3.8m against a pre-sale estimate of £2m to £2.5m, after what Bonham’s described as a “tense and lengthy bidding exchange”.

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