Classic New Year
MOTORING experts are highlighting how the classic car market is booming and a good New Year’s resolution would be to make an investment in 2022.
At a time when the pandemic is causing economic uncertainty in other sectors, sales and prices of vintage and historic vehicles are buoyant.
Leading UK automotive auction house H&H Classics says 85 per cent of its sale items in 2021 – ranging from cars to motorbikes and automobilia – were bought for a total of £16.75million.
Boss Colette McKay said: “We were fortunate to have already completed our planning and implementation of our online auction model.
“So the hold placed on face-to-face physical sales was not any great problem for us. It has been an outstanding year by a great team.”
A swift technological revolution means auction houses have seen sales rocket as buyers can now bid globally online, with younger, more IT-savvy purchasers entering the market.
Nonetheless, the success of online sales has not detracted from the real love of being physically among the motors in the auction room when Covid restrictions allowed.
During the course of the year, H&H Classics sold dozens of star cars for some stellar prices.
A 1962 Aston Martin Series IV first owned by Alexander Whyte, of the Whyte & Mackay whisky dynasty, topped out at an eye-watering £360,000, while a beautiful 1959 DB2/4 MKIII fetched £138,000.
A meticulously restored 1957 righthand-drive Mercedes-Benz 190SL broke records, going for £224,250. Not to be outdone, a 1925 Bentley 3 Litre – a design that captured Le Mans victories – raced to a tag of £211,500.
Others of note included a rare 1952 Bentley MKVI 4.5 Litre Drophead Coupe that went for £98,333 and an elegant Daimler DB18 Special Sports Drophead Coupe from the same year, which sold for a record £43,875.
Another strong result was £92,250 for a gorgeous, rebodied 1929 RollsRoyce 20/25 Tourer, while a 1955
Lancia Aurelia B20 GT netted £96,750.
A 1965/2004 Shelby AC Cobra 427 CSX4000 series car was one of only 10 carbon-fibre models and sold for a near top estimate £149,500.
Top sellers also included a rare early 1977 Lynx Jaguar D-Type that achieved £213,750 and the £63,000 1926 Rolls-Royce 20HP driven by David Jason as Pop Larkin in the The Darling Buds Of May telly series.
Automotive enthusiast company and specialist insurance provider Hagerty backs up the H&H evidence.
Its analysts have reviewed the list of 10 vehicles they predicted in December 2020 were worth snapping up this last year as collectors’ motors and for possible rising values.
Across the range of different types of cars to suit a variety of budgets, Hagerty found five have increased in value, two remained unchanged and three lost value.
Interestingly, models from the more exclusive marques of Ferrari, Porsche, Mercedes-Benz and Aston Martin either fell or remained flat. But humbler Mini and Jaguar cars performed strongly.
The 1961-1971 Austin Mini Cooper 997 has gone up from £24,100 to £26,500. Also plainly proving hugely popular is the 1959-1967 Jaguar MK II, which has seen its estimated value soar from £27,700 to £33,234.
At the budget end of the market, the 1998-2004 Ford Focus has risen from £1400 to £1500. The 2000-2006 Toyota MR2 sports car is also another gainer, moving from £4100 to £4200.
Hot-hatch fans are clearly keen to get their hands on the 1986-1991 Renault 5 GT Turbo, with a great auction sell-through rate seeing it rise from £17,700 to £18,000 and the promise of further interest in 2022.
The 1994-2004 Aston Martin DB7 remains at the Hagerty price guide value of £31,580 but the signs are looking good for better sales in 2022.
Meanwhile, the 1989-1998 Land Rover Discovery stays static at £9800, although auction sales rates are very strong for a vehicle of this type.
Unfortunately, the 1985-1998 Ferrari 328 fell slightly in value from £80,650 to £79,750 but Millennials are now showing greater interest in the car.
Another casualty was the 20102015 Mercedes-Benz SLS, with a disappointing shift from a value of £166,500 to £163,500. And the 19881992 Porsche 944 has dropped from £17,550 to £15,700.
Hagerty UK editor James Mills explained: “Our list highlights cars that look likely to hold their value or, better still, rise in value. This insight helps keep the hobby healthy and shows how much choice there is for anyone wanting to enjoy driving.”
Echoing the theme of affordability with the potential to become future classics, Motorparks – part of the Cambria Automobiles dealer group that includes Rolls-Royce and Aston Martin sites in Edinburgh – has identified three models to consider.
The fifth-generation, sleek Maserati Quattroporte saloon is available from about £9000 and features a Ferrariderived petrol V8 engine.
The rare Renaultsport Clio 182 Trophy, dating from 2005, provides cheap thrills. With a 2.0-litre engine powering a car that weighs less than a tonne, it is available from £7000.
Finally, produced from 1999 to 2005, the Audi A2 was arguably ahead of its time due to its build and economical running costs, yet you can pick one up for less than £1000 now.