MOTORING
I RECENTLY enjoyed a convivial motoring lunch at the RAC’S London clubhouse with a leading authority on Bristols, plus one of the UK’S best-known classic car dealers and a discerning friend who, like me, is a hapless lover of all manner of cars he can’t quite (in my case, anywhere near) afford. Fuelled by a couple of bottles of high octane, we puzzled over the remarkable inflation in classic car values since 2007/8, especially the expensive stuff. A plausible explanation is that the wealthy, noticing how little their money earned in the markets, put it into Ferraris, Aston Martins, Porsches and so on. There, even if it still earned nothing, they could at least enjoy it. The same applies, apparently, to collectable watches and pens, which also cost nothing to maintain.
But, as our Bristol man pointed out, a lot of wealthy people were much less wealthy after 2007/8 and you would expect this to have had an equal and opposite effect on the market. Or could it be that the sellers were traditional classics owners who had fallen on hard times, while the buyers were new money? Hence the Bristol 410 I could have had for £20,000 in 2008 is now worth £42,000, while the Bristol 405 I was offered for £16,000 is now worth multiples of that. Although my motoring life is chequered by errors of commission – cars I bought unwisely – it’s the errors of omission, the paths not taken, that hurt more. Bristols have been prominent among the latter since the days when you could pick one up for a couple of thousand. Each time I’ve been seized by cramp in the wallet hand and regretted it afterwards.
Now, it seems, the market may be driven by would-be buyers of Astons, Ferrari, etc who, finding prices well into six or even seven figures, look around for something else. Their eyes fall upon marques such as the exclusive and understated early Bristols (any model up to the 411 of the mid-1970s), or somewhat less understated Bentley R Type Continentals, or – predictably – Jaguar E Types and XKS, prices of which then accelerate beyond the reach of the well-heeled but not fabulously rich enthusiasts who used to own them. So where should the enthusiast-with-a-windfall look now?
He or she could start with the Austin Healey 3000, a muscular, uncomplicated, satisfying beast offering classically beautiful lines and a solid, meaty drive. They’re not cheap – I recently saw a late, well-restored one make £37,000 at auction – but they’re on their way up. Alvis are a similarly good buy, especially the T/E/F21 series, elegant three-litre tourers designed by Park Ward and Swiss coachbuilder Graber. Prices for convertibles (Prince Philip used to drive one) are already heading north but £30,000– £40,000 should guarantee a good saloon (www.redtriangle.co.uk have an excellent TF for £34,950 and can supply all parts). Then there are T1/T2 Bentleys, the almost identical twins of Rolls-royce Silver Shadows but far more exclusive. £10,000–£20,000 should get you something reasonable though the best I’ve seen, an attractive green T2, is at www. Graeme-hunt.com for £32,750. There’s also my old favourite, the P5 Rover, the stately prime ministerial carriage of the 1960s/70s. They’ve appreciated recently but you can still find excellent cars for £8,000–£15,000. P6s, meanwhile, are a snip at £4,000–£10,000.
All these could be used daily and are well able to cope with modern traffic. There are no free lunches, of course – not even motoring lunches – but if you buy the best you can afford, with a decent history, and look after it, you’ll probably find it looks after you when eventually you sell.