2019-06-01 Classic Cars

(Jacob Rumans) #1

18


CHASING CARS


RussSmith’smarketnews

T


henow-regularBonhams
auctionheldatthe
GoodwoodMembers’
Meetingwaslargelya
success,andwhat didsell
wasmainlyto expectations.
However, 29 of the 10 5 cars
onofferhadbeenshippedoverfrom
theKeyMuseuminIzmir,Turkey.
Biddersseemedwaryof them


  • nothelpedby theadditional5%
    ofimport taxto payoneachlot if
    it st ayedintheUK– andonly13 of
    thosecarssold.Thatdraggedthe


overallsaleratedownto 62.9%,
whichis a littledisappointing.
It didthrowuponeparticular
bargainthough,intheAstonDB
pictured.Thatwasletgo for£210,
against anestimateof £250-350k.

Themoneymust havebeenneeded
becausethat’slessthancurrent
guidepricesfora roughexample,
andthiscarhadbeenrestoredby
themuseuminrecentyears.What
thatdoes is revealhowimportant
historyandprovenanceis forAston
buyers. Fewhadevenheard of
themuseumbefore thissale, and
itsproficiencywithAstonswasan
unknownquantity.Addthefact
thatthiscarhadalmostzerohistory
andtheansweris clear. Butit was
probablywortha punt at that price.

Aston bargain at Bonhams

Museumcars bombat GoodwoodMembers’Meetingsale

‘Themuseum’s
proficiencywith
Astonswerean
unknownquantity’

DB4maderough/project
money, buttherestorer
wasanunknownquantity

0


500


300


200


100


400


1998 2002 2006 2010 2014 2018


WHAT THE K500 MARKET INDEX SAYS ABOUT THE...


K500 index value versus 1994 baseline

Aston Martin V8 Volante
K500’s Simon Kidston says,
‘Compared with a saloon,
you’re less likely to find an
untidy Volante, although in
less-than-immaculate condition these
hand-built cars do not wear well. The full-
on Vantage Volante is not for the shy and
retiring, while only the very well-heeled
can snare a ‘Prince of Wales’ model. North
American market cars – big bumpers and
small horses, many to a ‘bold’ specification


  • are numerous and unloved. As such,
    the drop-top Aston V8 has been left on
    the beach as the tide of the car collecting
    market gently recedes. But it will rise again.’


High-water
markin 2017

Thetideof
desirability
swellssteadily

IN THE TRADE


OWNERSRELEASEEQUITY


Followingonfroma similar
recentreportfromCambridge
andCounties Bank,classiccar
financespecialist JBRCapital
hasreporteda 54%risein
equityreleasedealsonclassics
during 20 18.Thehigherend
oftheclassicmarkethasbeen
flatfora whilenowandJBR’s
DarrenSeligtellsus,‘Classic
carownerswantto release
cashfromtheircarswithout
havingto sellthem– bothto
benefitfromany future value
increaseandto usetheirmoney
forotherthings.Property
investmentisa commonuse.’

BICESTER’SNEWSCRAMBLE


BicesterHeritage’snew‘Super
Scramble’onJune23 (seealso
p32)willincludethe45,000sq.
ftHangar 113 beingdevotedto
a classiccarmarketplace for
dealerandprivatesales,along
withthefirstautojumbleto be
heldatoneof theseevents.
Bicester’stesttrack– usually
a parkingarea– willalsobein
use, and there will be an extra
round of Hagerty Insurance’s
Live Valuation Arenas, where
you can get an expert valuation
of your classic carried out. See
bicesterheritage.co.uk

NEW CLASSIC AUCTION


A successful motor auction
company for 33 years, West
Oxfordshire Motor Auctions
has expanded its operations
to include a series of classic
car sales throughout the year.
Following the success of the
first of these, held in March, the
next will be on Saturday July 20
at its base in Witney. Its buyer’s
premium is a very competitive
6% plus VAT, compared with
rival sales based at regular
auction sites that range from
5% at Morris Leslie to the 8%
charged by SWVA; both also
plus VAT. See woma.co.uk

Sudden rush
asinvestors
arriveat the
beachparty
Free download pdf