Striking gold at bike auctions
Are you sitting comfortably? Or are you sitting on a virtual gold mine? If you own a classic bike you might just be in luck. Classic bikes have fetched up to six-digit prices at recent motorcycle auctions. With the Bonhams Spring Sale auction at the International Classic
MotorCycle Show just around the corner, we decided to have a look at what’s hot at the moment, what makes the difference between a pile of rust and a treasure, and most importantly, how you can get a piece of the action.
Motorcycle auctions – not just for the fat cats
Motorcycle auctions have a reputation as a rich man’s playground, but in reality there’s usually a wide range of machines available to suit almost every budget.
The events are aimed at motorcycle enthusiasts and collectors who are passionate about motorcycles as a hobby as well as preserving important machines from bygone eras.
The International Classic MotorCycle Show in Stafford (or the Stafford Show as it’s usually called) generally attracts around 30,000 visitors each year and includes people from all walks of life.
James Stensel, head of department at Bonhams Collectors Motorcycles, said: “Pioneer, vintage and classic motorcycles hold great charm and often have more character than the more modern machines.
“A common misconception is that a classic machine is expensive but that need not be the case: there is a classic motorcycle to suit all tastes and budgets!
“We pride ourselves on offering something for everyone. Whether they are looking for a BSA Bantam or a Brough Superior, prospective buyers and sellers can benefit from our market-leading service.”
What to look for at an auction
You can find the most incredible range of bikes at an auction. The selection can include machines from the late 1800s to the present day. Certain machines carry a premium, most notably those that have stood the test of time, meticulously maintained by previous owners, or those which have been stored well for a considerable length of time. It also helps if the bike has an interesting, traceable and well-documented ownership history. Limited production run also adds to a bike’s value.
Depending on the type and era of the machine you are interested in, there are a few things to look for. James highlights one of them: “When purchasing any motorcycle try to establish whether it’s a ‘matching numbers example’ (original engine and frame). A matching numbers machine will often command a premium over those that are not. Membership with the Vintage Motor Cycle Club or a relevant owners club can offer access to factory records.”
Another consideration is the condition of the bike or project. Finding an unrestored machine in today’s market is particularly rare. Consequently, such machines are likely to command a premium over restored examples.
One thing you should never compromise on is the maintenance and restoration of a machine. Be sure to ask how the machine has been maintained and by whom. In many cases, the owner or restorer will have a detailed maintenance log, which gives you reassurance that the machine has been cared for.
Finding out the history of any bike you’re interested in is key. Ask to see the machine’s history file, which will often contain important documents such as dating certificates, purchase invoices and registration documents old and new, detailing its ownership history/provenance.
Machines that adhere to factory specification command a premium, but any modifications for modern day use (electric starters and upgraded clutches, for instance) can easily be reversed, returning a machine to original specification if desired.
One last thing to consider is that the purchase price could be just the first hit on your wallet if the machine needs expensive restoration to get it back on the road again.
Can a bike be an investment?
The price tags on some old bikes can make them seem like great investments, but similarly to any other investment, motorcycle prices can fluctuate. James is keen to make this point clear: “Motorcycle values can go up and down! For this reason more than any other, if you’re going to buy a motorcycle, buy it for the love of motorcycling. Use it as the maker intended and it will reward you far more than just its monetary value. Smiles, giggles, skipped heartbeats and lifelong memories – priceless!”
With classic bikes, money is just a small part of the equation. James said: “Collectors’ motorcycles remain tangible assets and offer so much more than investment. You’re not simply buying a classic motorcycle, you’re investing in a two-wheel route to nostalgia, sense of freedom, historic and engineering interest, restoration, fashion and art.
“In my time with Bonhams Collectors’ Motorcycle Department I have had the privilege of meeting some incredibly generous people, keen to impart their own incredible stories of man, machine and the road less travelled.
“Whether a £1000 BSA Bantam or a £100,000 Brough Superior, the ultimate goal is the same: to own, maintain and enjoy the machine as its maker intended.”
Next step: attend an auction
A great place to start is the Bonhams Spring Sale auction at the Stafford show. Entrance to the auction is by catalogue and can be purchased over the Stafford weekend or in advance from the Bonhams Subscriptions Department by calling 01666 502200 or emailing subscriptions@bonhams.com
The full online catalogue will be available to view towards the start of April. In the meantime, a selection of important lots can be viewed on Bonhams’ Spring Stafford preview pages at www.bonhams.com/23600
The catalogue details the machine’s particulars and the pre-sale auction estimate (guide price) pertaining to each lot.
Some machines are offered with a reserve price, which is never any higher than the low auction estimate, a price at which each machine can be purchased – to keep the bidding process as simple and transparent as possible for all.