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Bonhams

04 February 2016

Bonhams first auction of the year held during the Retromobile classic car show did not generate much in the way or surprise results and although a few big ticket cars failed to find homes the results in general indicate a market that remains relatively buoyant with good cars finding good prices. Looking at the results the £56,471 paid for a restored three door early Range Rover shows that these early 4x4s are continuing to find favour. A series 3 V8 Aston Martin made just short of £100k which suggests that the later cars are still continuing to pick up in value as they get dragged up by the astronomical valuations of the early DB cars. This auction included a Citroen Maserati which achieved a strong £58,263 including premium and we have now seen a few results for these cars around the £50k mark suggesting they have made quite a step up in valuation over the last twelve to eighteen months. A 1986 Porsche 911 Turbo 3.3 litres coupé hit a final price of £71,709 and we see more to come from the last of the air cooled Porsche models which offer considerable value now compared to the early cars. The Ferrari 550 Maranello now seems to regularly fetch around the £100k mark with low mileage examples achieving even more. This auction contained a left hand drive car with just 14,800KM on the clock and the final price including premium was £94,118. Given the meteoric rise in E-Type values in recent years we view these cars as the proverbial Canary in the coal mine when it comes to assessing the market for signs of stress. There was no such indication in this sale with the strongest result achieved by a series 1 3.8 litre coupe which roared away to a final price including premium of £118,320. Overall, despite a number of big ticket cars not finding new homes, the results achieved were broadly in line with expectations and the market appears to have made a good start to the year.