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Silverstone Auctions

26 July 2014

Silverstone Auctions had a very successful sale on Saturday 26th July with some big numbers paid across a wide range of makes and models. With a lot of high end cars on offer the results suggest that we are yet to see any real slowdown in the classic car market and if anything prices continue to be on the up especially among Ferrari and Porsche. Surprising or perhaps not so surprising prices paid given the strength in the market include £46575 paid for a fully rebuilt Lotus Elan Sprint which was above the top end estimate of 42k.A 1950 Healey Silverstone which has also been completely rebuilt achieved £212,750 well above its top end estimate of 180k.

The Jaguar XJ220 went for £187450 above its top estimate of £170,000 and confirming our suspicion that this once unloved supercar is now starting to generate a following. Another example of a top restoration commanding a premium was the £81650 paid for a fully restored Mercedes 280SL Pagoda, above its top estimate of 75k.What were once budget Ferrari's are no more with a 1996 Ferrari 456GT achieving £49,450. This was a very low mileage example but a model that has always struggled to sell but seemingly that is now changing. A 22,000 mile Ferrari 328GTS achieved £77050, way above its estimate of £45000-£55000 whilst a steel bodied 308 GTS also burst through its top estimate of £37,000 to achieve £82225.

These were 20-30k cars not so long ago but the meteoric rise in the top end of the market is dragging the lower value cars up with it now. We also have to mention the Bristol 403 which achieved a very strong 62k against its estimate of £35000-£40000 showing that the 2 litre Bristol cars are really starting to gain a following and a combination of aeroplane engineering and a superb engine with low production numbers means more gains ahead in our view.

Overall a really good auction and to view the full results please click here