Classic car industry in 2012 ends on high

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Published: 1 November 2012

THE CLASSIC and rare car industry shows no sign of slowing down, after Motortrades Insight witnessed three models sell for over $1m at Britain's most prestigious car auction.

It brings the total worldwide number of cars sold by RM Auctions since 2002 for a minimum of seven figures to 268 - for around $628m - after a landmark London sale at the end of October.

Car collectors and experts from 33 countries gathered in a luxuriously-designed venue in the centre of Battersea Park, where a keen Beatles fan bought Paul McCartney's '964 Aston Martin DB5 for £344,400.

Car specialist Alex Classick, 25, said: "I think the celebrity factor drew a lot of interest to it. Any Beatles fan who has a lot of money would be drawn to this car, and delivered new to Paul McCartney, you can't repeat that sort of ownership."

Another buyer snapped up a rare '959 Ferrari 250 GT LWB Berlinetta 'Tour de France' for a bargain £1.96m, the 30th of 36 examples and one of nine late open headlamp cars. It has won several prominent races, including the GT class at the Grand Prix of Naples in '960, and has participated in the renowned Mille Miglia multiple times.

An Aston Martin DB5 Convertible, which has had a single owner for the last two decades, and one of 123 ever built, sold for £632,800.

But the most historic star of the auction was arguably the Alfa Romeo 6C 1750 Testa Fissa. It sold for £784,000 and is believed to be one of only '2 constructed. In its heyday, racing driver Tazio Nuvolari - who was in the same team and a close friend of Enzo Ferrari - took it to a speed of 114kph when he dominated the '930 Tourist Trophy, winning the 22km Bristol race by 7 laps over his Alfa Romeo teammate.

Mr Classick, who was recently involved in selling a Ferrari for over £2m and 'fell in love' with cars from a young age, added: "I think the market's strong for very good cars. We've got a good collection of rare cars. The beauty of auctions is it gets people together and surprises can happen.

"I don't really have a car," the talented historic single seater racing driver explained. "I have a Lancia Fulvia from '973 that I drive sometimes but I live in Central London so I tube it everywhere. I would like a Ferrari 308 within the next five years."

A '996 Porsche 9'' GT2 - with only two previous owners and 16,000 miles on the clock - sold for £325,000.

But it was not only cars that took the spotlight. The motorcycle owned by Lawrence of Arabia is famous for when he raced a Bristol Fighter at RAF Cranwell and sold for £280,000.

Despite the positives, the auction failed to find a buyer for its highest valued car - perhaps overvalued according to viewers at the auction. The highest bid for the '955 Mercedes Benz 300Sl Alloy Gullwing was ?2.4m but was expected to sell for £2.8m or more.