Posts Tagged ‘auction’

1969 Jaguar E-Type Series II Roadster

January 2019 was unpredictable. Brexit, the weather, the economy, post-Christmas retail sales figures and credit card bills hang heavy in this month but the predictable part is that the first day of Spring draws ever-closer and each day passed adds another minute of extra daylight. Woohoo!

Another predictable event is the start of the car auction calendar and as usual The Car Spy is keeping a keen eye on activities to see what clues we can glean from the state of the car market here in the UK and then next month in Europe.

Car auctions are probably the best indicator of car values we can refer to when it comes to the buying and selling of cars. If we had a British Pound for every time we were told by a seller that their car was ‘worth “x” all day long’ then yours truly would be sitting on a super-yacht in Monaco whilst writing this post.

Reality is an unpleasant experience when it comes to a market correction in car values but it is unavoidable. For the past ten years we have seen astonishing prices paid for sometimes very mundane models (in our opinion) and excessive premiums paid for the privilege of owning certain new models.

We just hope that those who came in at the top of the market have bailed out by now because the indications are that the market has ‘softened’. That’s the polite way of describing it anyway. (more…)

Britain’s motorists are increasingly enjoying a love-in with the days of old, with booming interest in getting behind the wheel of a classic car.

Whilst private new car sales are floundering*, specialist classic car auction company Historics at Brooklands reports a bullish market, particularly amongst first-time buyers of a retro set of wheels.

“There is an undisputable financial argument against buying even a modest newish car if it’s not driven a great deal, as it can suffer high insurance and maintenance costs and continuing depreciation,” says Historics’ Auction Director, Edward Bridger-Stille.

“In contrast, for around £5,000 you could drive from our auction an original 1970’s British sports car that will give you immense fun and low running costs, and relax in the knowledge that a good cared for car is likely to appreciate in value.”

Marcus Atkinson of classic car insurers, Hagerty International, agrees:

“We have a high level of interest from first-time classic car buyers.  They are attracted by the sheer enjoyment of ownership, and discover it’s a far better way of looking after a few thousand pounds than leaving it in the bank.  And we can comprehensively insure a well-looked after first-time classic for under £100 per year on a limited mileage policy,” he added.

Amongst 100 fascinating classic cars and motorcycles of all ages and values lined up at Historics’ next auction on Saturday October 22nd, are a selection of perfect first-time classic buys, including a 1974 MGB GT V8 (£5,000 – £8,000), a 1976 Triumph Stag Mk. II (£4,000 – £6,000), a 1977 Jaguar XJ6 Coupé (£4,000 – £6,000) and a 1977 Reliant Scimitar GTE (£4,000 – £6,000).

And for those to whom classic car ownership also means rolled-up sleeves and spanners, the Historics’ auction provides the ideal hunting ground for a classic car requiring DIY input, from modest repairs to full restoration.

The 18-strong project car offering at the sale includes no fewer than five Bristol saloons and coupés, a 1965 MGB Roadster, a 1963 Jaguar Mk. II Saloon 3.4L Manual Overdrive and a 1954 Lancia Aurelia B20 GT Series IV, all with no reserve, as well as a 1966 Alfa Romeo 2600 Sprint (£8,000 – £10,000), a 1957 Wolesley 6/90 Series II (£3,000 – £5,000) and a 1953 Jaguar XK120 Drophead Coupé (£15,000 – £20,000).

“Most classic car owners enjoy a level of self-maintenance of their pride and joy, from simple tinkering to major sessions burning the midnight oil,” says Bridger-Stille. “And unlike modern-day cars festooned with electronic systems, they are generally very simple and rewarding to work on,” he concluded.

For more information, and to attend the Historics at Brooklands auction, call 0800 988 3838, e-mail: auctions@historics.co.uk, or see the website, www.historics.co.uk.  Viewing of all Lots is possible on Friday October 21st between 10.00am – 8.00pm and on the day of sale prior to the auction commencing with automobilia at 11.30am and cars at 14:00pm.  Entry by catalogue only, available prior to, or on the day of the auction.

This slideshow requires JavaScript.