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Auction prices for 1950s Land Rovers disappoint, but later models fetching new highs, reports Dave Phillips

Has the Series I bubble finally burst? LRM investigates

HOW I wish I’d bought an 80in Series I a couple of decades ago, when they were as cheap as chips and most ended up as donor vehicles for V8 triallers. What would have cost hundreds of pounds then would be worth a five-figure sum now – or would it?

There’s every indication that the bottom is starting to drop out of the market for Series I Land Rovers. The latest Brightwells classic car auction at Bicester Heritage saw five Series Land Rovers up for grabs. An original 1950 80in Series I fetched an unremarkable £13,000, while a later 1956 86in version made just £4500. Another Series I didn’t meet its reserve and was withdrawn from the sale.

The 1950 model was the biggest shock. This is the sort of car that would have fetched at least £20,000 a year or two ago, when prices for very early Series Is were getting silly. Back then, if more than a couple of rich collectors were in a bidding war for it, it could have fetched much more. But they weren’t – and you have to say that 13k is a sensible price for a vehicle of its ilk.

It is certainly my kind of Land Rover, with mismatched panels bearing the genuine patina of age and a later 2.0-litre engine, professionally fitted in 1952 to answer the original 1.6 sidevalve’s questionable lack of power. The chassis is original, but was rubbed down and restored more recently (with photographs to prove it, among the documentation supplied by the vendor).

That one would have been nice to drive, but the 1956 86in would have been even nicer. Throughout its ten-year production run, the Series I improved by leaps and bounds. The six years that separated it from the earlier model saw a whole raft of changes that made it a much better car to drive. The fact that it rolled off the Lode Lane production line in 1956, the year of my birth, makes it more appealing – and I do wish that I had placed a bid, because this beautiful little Land Rover fetched just £4500. It also had a sweet and original 2.0-litre petrol engine and that extra six inches on the chassis gave it 25 per cent more carrying capacity.

So has the Series I bubble burst? I’ll stick my neck out and say yes, but hastily add that it is nothing like as serious as classic cars crash of the early 1990s which came about as a result of rich city traders seeing cars like Jaguar E-types as investment opportunities.

Back then, prices rose to dizzying heights, then fell dramatically. The same is now happening with early Series Is, but on a smaller scale.

The good news is that values of Series IIS are rising. At the same sale, a 1971 Series IIA Dormobile conversion fetched a whopping £10,800. A factory-built station wagon, which was then shipped to Martin Walter for its camper conversion, it boasted a two-ring gas cooker and grill, fold-out table, storage cupboards, power points and a kitchen sink. The roof pops up for increased headroom (or when the bunk beds are occupied). Just the job if you fancy an African overland trip, 1960s Daktari-style.

Its value was enhanced by the fact that it had enjoyed a major restoration about a decade ago, when an unleaded head conversion was also undertaken to allow it to run on modern petrol without selfdestructing. There is even an electric fan, just in case it does get a bit hot out in the jungle.

Better value, however, would be the 1966 short wheelbase Series IIA, which simply screams typical 1960s Land Rover. Stand this beside a Defender four decades younger and the family resemblance would be obvious, although the original 2.25 diesel engine would make it a little tardy for today’s traffic on all but the remotest country lanes of Britain.

This one clearly spent its early life in military service, as demonstrated by the split rim wheels and corner bumpers, allegedly created to prevent body damage by extremely enthusiastic but incompetent squaddie drivers.

Either way, the asking price of £3700 was very reasonable – particularly as there is every indication that the value will be heading north in the months and years to come. What's your thoughts? Write to us at patrick@lrm.co.uk.