A near sell-out at the latest SWVA Drive Through in Dorset and sensational prices at Silverstone buck the downward trend on the UK’s auction circuit.
After a rash of low sale rates, where around half the cars auctioned failed to sell, all stakeholders in the classics market will have been greatly relieved by SWVA moving 96% of the cars driven past its rostrum. Only three lots were unsold. Top priced was a 1972 Aston Martin DBS 6 auto that had been an Australian resident from 1986 until repatriation in 2013, and which sold for £64,800 during a £620k Friday morning.
The previous evening in The Wing at Silverstone, commission, telephone and online bidders were seen off by a £200,000 bid from a punter in the back row, who paid £225,000 with premium for an ex-works Lancia Delta Integrale Evo 2 Group A. While an historic race 1961 Jaguar Mk2 3.8 was acquired by an online player in the Netherlands and a £37,125 1966 Mini Cooper to 1275S-spec headed for Australia.
A sensitively refreshed 1987 Ford Sierra Cosworth RS500 ‘original’ raced past £100k and also sold to an online bidder from Australia for £114,750 during the Saturday sale at the Silverstone Classic. The almost double lower estimate £137,250 paid for a 1973 mint BMW 3.0 CSL Lightweight in RHD and the £76,000, £12,000 above guide, for a 1991 Vauxhall Lotus Carlton were also extraordinary votes of confidence in the futures of these fossil-fuelled commodities.
A Restore-A-Ford refinished, 1987 Ford Capri 280 Brooklands with 14,608 mileage was also applauded for making £55,125, more than £10,000 over forecast. A market confidence boosting 73% of classics sold during the Sunday session, while the sales total from the three Silverstone Auctions during Classic weekend amounted to £5.5m.
Let’s hope Brexit Secretary of State David Davis, who appeared to enjoy his Sunday at the Classic, will enthuse some of his cabinet colleagues into supporting rather than destroying the old-car economy and ensure that fuel availability is preserved.
‘Brexit Secretary David Davis was at the Classic – where sales totalled £5.5m’
Commentary from our man with fingers on the auction pulse RICHARD HUDSON-EVANS