His­torics part­ners fi­nance firm

Clas­sic car fi­nance is now be­ing made avail­able to the reg­u­lar buyer

Classic Car Weekly (UK) - - This Week - Theo Ford-sagars www.his­torics.co.uk

His­torics’ March 4 auc­tion at Brook­lands, Sur­rey, marked the start of a new part­ner­ship be­tween the auc­tion house and Clas­sic & Sports Fi­nance (CSF). The ven­ture is aim­ing to bring the avail­abil­ity of clas­sic car fi­nance to a wider au­di­ence.

Ed­ward Legge, di­rec­tor of busi­ness de­vel­op­ment at CSF, ex­plains: ‘ The per­cep­tion is that clas­sic cars own­ers al­ways pay cash. But the re­al­ity is that about 10-15 per cent of clas­sic cars are bought us­ing some kind of fi­nance.

‘In 2016, 20 per cent of our busi­ness was for cars over £250,000. We’re pleas­antly sur­prised by the num­ber of en­quiries we’ve re­ceived dur­ing the auc­tion and the view­ing day.’

In to­tal, 78 per cent of the 131 con­sign­ments found new own­ers at the auc­tion – an al­most iden­ti­cal ra­tio to His­torics’ four auc­tions last year – with at least one of the higher-value auc­tion re­sults hav­ing been nanced through Clas­sic & Sports Fi­nance.

Ed­ward Bridger-Stille, di­rec­tor of His­torics, thinks this new part­ner­ship will not just bene t deal­ers, but also reg­u­lar buy­ers. He says: ‘Our part­ner­ship with Clas­sic & Sports Fi­nance has en­abled us to be the rst com­pany with an on­line nance cal­cu­la­tor un­der each lot on our web­site. I think its main ap­peal will be with end users [rather than with deal­ers] who are per­haps buy­ing a clas­sic for the rst time, but we’ll need to look back in a year or two to know for sure. The re­ac­tion has been re­ally pos­i­tive, espe­cially in the 24 hours lead­ing up to the auc­tion, which bodes well for the fu­ture.’

His­torics is now ac­cept­ing con­sign­ments for its next auc­tion, be­ing held at Ascot Race­course on 20 May.

‘About 10-15 per cent of clas­sic cars are bought us­ing some kind of fi­nance’ csF’s ed­ward legge

at His­torics’ March 4 auc­tion, this 1962 Jaguar e-type se­ries i surged well be­yond its es­ti­mate to reach a whop­ping £145,600.

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