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The classic car market over the last two decades has changed dramatically, with prices of most classic cars and rare supercars increasing significantly. However, dealers now report that the market has dropped away and slowed down in the last year. Thank god I say, as the cars I want seemed to be moving further away...
The classic car market over the last two decades has changed dramatically, with prices of most classic cars and rare supercars increasing significantly. However, dealers now report that the market has dropped away and slowed down in the last year. Thank god I say, as the cars I want seemed to be moving further away from my affordability, something had to give. Yes, there are cars with top pedigree that are still reaching record prices, but many classic car prices are stabilising or dropping (hoorah if you are a buyer, boo if you are seller).
We know that the acceleration of prices in the classic car market over the last 10-20 years has been due to a few factors, namely the uncertainty on the stock market, so investors looked to invest their money in safer items/ purchases. This mindset brought non-classic car enthusiasts to the market, looking for the quick flip. These people bought a car not to drive but purely as an investment. This on top of the explosion of classic car events and car shows has made classic cars, supercars and hypercars cooler.
However, with the rich getting richer and classic cars seeming to be one of the safest places to invest large sums of cash, or the super-rich want rare toys to show off, demand for rare and unique classic cars continues to do well.
If rumours are to be believed there is a new king of the crazy-priced cars with a 1963 Ferrari selling for a claimed $70 million (£52m). However, as this is a private sale the figure cannot be confirmed. The classic Ferrari that has been dubbed the world’s most expensive car is a 250 GTO – the Holy Grail of classic vehicles. One of only 36 examples built is steeped in motor racing history, having won the Tour de France in 1964. Powered by a 3.0-litre V12 engine, this 300bhp racer is road legal and can go from standstill to 60mph in 6.1 seconds and is said to be capable of 174mph.
This list below features the top ten most expensive vehicles ever to sell at auction, according to auction search engine Barnebys.
Number 10 on our list also happens to be the oldest, Alfa Romeo 8C 2900B Lungo Spider designed by Touring, whose lineage is part of a consistent and logical evolution stretching back to the 1920s.
The 8C 2900 was not just a sports car, but the most advanced, modern, and powerful sports car that money could buy – the ultimate competition machine. Each wheel carried independent suspension; its Vittorio Jano-designed straight-eight engine was two alloy banks of four cylinders, with not only dual overhead camshafts, but two Roots-type superchargers, as well. As exciting and dramatic as the 2.9 chassis itself was, they benefitted from the addition of some of the most luxurious and well-balanced coachwork of the pre-war era.
The Jaguar D Type, considered the most beautiful and iconic sports racing car ever built, was developed specifically to win the most prestigious of motor racing events – Le Mans 24 Hours. Arguably the Jaguar D-Type is the most famous Jaguar car out there. As with fame usually comes fortune, the few remaining D-Types sell for outrageous prices at auctions. According to reports, four bidders battled it out for the keys to the 1955 Jaguar, eventually leading to one collector winning with a bid of $21.8m.Finished in the iconic blue and white livery of the St Andrews Cross, this is one of two Ecurie Ecosse D-Types to win at the 8.5-mile French circuit. This car was the first of three D-Types to win at the iconic event for three consecutive years spanning 1955 to 1957.
This specific DBR1 is the first of five that were built. The car was used at the 1956 24 Hours of Le Mans and it won the Nürburgring 1000 Kilometres in 1959 with Stirling Moss and Jack Fairman at the wheel.
The Aston is currently fitted with an identical replica of the original engine however the correct engine came with the car. In recent years the car has been maintained by Aston Martin specialists R.S. Williams and is now presented in remarkably good condition throughout – ready for its new owner. Many consider this to be the single most important model in Aston Martin history. This specific car claimed the prize of most expensive British car ever sold at auction with an astounding $22.6m.
This is just the start of where the high-price Ferraris really kick off. Designed by Sergio Scaglietti, the 1964 275GTB/C Speciale is the first edition of a production run of just three examples that ever spawned from Italy. The other two are said to be cherished by private collectors who have no intention to sell.
As the two-seater berlinetta retired, Ferrari built the 275 GTB/C Speciale, a lighter sports car based on the already-iconic 250 GTO. The 275 GTB/C got a 3.3-liter, V-12 engine under its hood, output was increased to 320 horsepower, which, coupled with the lowered weight, promised to deliver outstanding performance on the track.
Although its career didn’t span for more than a few months, the Speciale proved its potency at the 24 Hours of Le Mans, where it finished third and scored the best finish by a front-engined car. Its record still stands to this day.
When this drop-top Ferrari went under the hammer in California in 2013 it became the most expensive car sold at auctions at the time, making waves throughout the entire classic car scene. Only 10 examples of this car were ever made.
Part of what makes this N.A.R.T. Spider so valuable is the cars unique combination of the 1950s Ferrari styling and the advanced mechanicals. Almost the entire Maranello racing technology suite was applied to the NART Spider – allowing it to be a luxury cruiser also capable of serious speed on a racetrack.
Ferrari racing cars are among the most legendary in the history of motorsport. When it comes to vintage cars, few are more eye-catching than those from Ferrari and this 1956 Ferrari 290 MM by Scaglietti really is the pick of the bunch. The 1956 Ferrari 290 MM, chassis 0626 was built for Formula One racing legend Juan Manuel Fangio.
Despite competing for no fewer than nine years, the car was never crashed. That’s fortunate when you consider just four were ever made. Most significantly, each design had Enzo’s personal handprint upon them.
For the past 12 years, chassis number 0626 has been regularly maintained, benefiting from a recent engine rebuild.
If there ever was a car that was built for speed, it is the beautiful, unique and impressively functional 1954 Mercedes W196 F1 Silver Arrow. Designed to replicate the classic ‘bullet’ shape, at the time the W196 was a true technological This car is not only aesthetically appealing but its also incredibly rare, with only 10 vehicles in existence and only one on the private market, it therefore comes as no surprise that this car carries such a hefty price tag. And if the novelty of never knowing anyone with the same car as you weren’t enough, the car was also the winner of the 1951 F1, driven by famous racer Juan Manuel.
Many argue that had the exchange rate of the euro been better at the time, this could have taken the title as the most expensive car sold at auction.
With its outstanding engineering, perfectly sketched lines, charismatic proportions, remarkable race results and great drivers, the 335 S perfectly symbolises Ferrari in the 1950s. The 1957 Ferrari 335 Sport by Scaglietti – as well as being breathtakingly beautiful – had set record times at Le Mans and competed in the original Mille Miglia rally.
Not only is the car exceptionally built but it is also incredibly rare, only four Ferrari 335 S Spider Scagliettis were ever produced. This particular car has been in the hands of a private French collector for more than 40 years
For four years, this Ferrari held the medal for most expensive car ever sold at auction.
Sold for $38,115,000 during the summer 2014, the 250 GTO holds the world record for a sale in a public auction house. While $38.1m is one hell of a fee, it’s still not enough to make it the most valuable of all time.
The priciest model to go under the hammer was another Ferrari 250 GTO from 1962 – this one sold during Monterey car week by RM Sotheby’s in 2018.
It achieved a staggering $48.4m at the event, making it the priciest of all motors to ever be bought during an auction. Ferrari had only built 39 of these racers, and as such they have been million-dollar cars for years. One reportedly sold privately for $52 million last year, and one built for Stirling Moss went for $35 million privately in 2012.
With a beautiful shape and great performance, the 250 GTO was the perfect combination between pleasure to drive, and pleasure to look nice. Winning a lot of races for Ferrari, the 300HP engine needs constant refurbishing, simply because reliability wasn’t the name of the game for it.
So, there you have it, the top 10 most expensive classic cars ever sold at auction. Eye watering sums of money to spend on a car, but it makes you realise how much money some people have at their disposal. Outrageous really that people spend that sum of money on a car, but it is what it is. Have these cars reached their peak prices? Will there be new entries in the decade ahead? I’m sure like most things these prices will continue to increase in time, with new additions to the list, or are these the peak prices and will price stabilise or fall? Who knows? What do you think? It would be good to know your opinion on prices of the cars above and what you think will happen to classic car prices in the future. Let us know your thoughts in the comments below.
The McLaren 720S GT3 will compete in the Liqui-Moly Bathurst 12 Hour race for the first time. A two-car line-up will contest Australia’s premier GT endurance event, and the first round of the 2020 Intercontinental GT Challenge later this month. McLaren Factory Driver Ben Barnicoat alongside Tom Blomqvist and Alvaro Parente will battle for outright...
The McLaren 720S GT3 will compete in the Liqui-Moly Bathurst 12 Hour race for the first time. A two-car line-up will contest Australia’s premier GT endurance event, and the first round of the 2020 Intercontinental GT Challenge later this month.
McLaren Factory Driver Ben Barnicoat alongside Tom Blomqvist and Alvaro Parente will battle for outright race victory in the Pro class. While McLaren Professional Driver Martin Kodrić will fight for Silver class honours with experienced Australian GT duo Fraser Ross and Dominic Storey.
As production of Morgan’s steel chassis draws to a close, a special Plus 4 celebrates 70 years of Morgan’s most popular model. In 1950, the first Morgan Plus 4 rolled off the production line at Pickersleigh Road. Over the next 70 years, it would develop through myriad iterations, but always prove a hit with buyers. Now, production...
As production of Morgan’s steel chassis draws to a close, a special Plus 4 celebrates 70 years of Morgan’s most popular model.
The Practical Classics Classic Car & Restoration Show It’s competition time. We are delighted to be able to offer three pairs of tickets to the 2020 The Practical Classics Classic Car & Restoration Show. The Practical Classics Classic Car & Restoration Show is the show to attend to kick-start the classic car season. Whether you...
The Practical Classics Classic Car & Restoration Show
It’s competition time. We are delighted to be able to offer three pairs of tickets to the 2020 The Practical Classics Classic Car & Restoration Show.
The Practical Classics Classic Car & Restoration Show is the show to attend to kick-start the classic car season. Whether you are looking to ignite your passion to a finish restoration project or simply want to reminisce with family and friends over the beautiful completed classic cars on display, you should join us at the NEC Birmingham in March.
The event brings together 1000+ cars on display, 150+ car clubs representing a wide variety of marques and models; 250+ exhibitors and autojumblers including restoration companies, services providers and product suppliers; car auction, celebrities, car competitions and practical workshops on restoration skills.
Hailed the ‘friendliest of car shows’, this truly is Spring’s best classic car show. Opening the classic car season, the show attracts over 28,000 visitors across 3 days, and bring’s together all aspects of classic motoring. From live restoration projects to pristine classics, walking through the halls rekindle memories for visitors. It’s a weekend all about rusty barn finds, concourse quality classics and everything in between.
Now finally, the part you’ve been waiting for; To win a pair of tickets, you must be subscribed to our newsletter AND comment below with the name of your favourite classic car.
PRACTICAL CLASSICS CLASSIC CAR AND RESTORATION SHOW UNVEILS BRAND NEW INTERACTIVE FEATURE – CLASSIC WORLD The organisers of the Practical Classics Classic Car & Restoration Show, with Discovery, have unveiled ‘Classic World’, an exciting new interactive feature that will debut at the three-day event held 27-29 March at Birmingham’s NEC. Classic World brings together all the...
PRACTICAL CLASSICS CLASSIC CAR AND RESTORATION SHOW UNVEILS BRAND NEW INTERACTIVE FEATURE – CLASSIC WORLD
The organisers of the Practical Classics Classic Car & Restoration Show, with Discovery, have unveiled ‘Classic World’, an exciting new interactive feature that will debut at the three-day event held 27-29 March at Birmingham’s NEC.
Classic World brings together all the elements of owning a classic vehicle including the actual driving, and allows the audience to take a journey of discovery across four key areas – Work in Progress, Staff Car Sagas, Barn Finds Revisited, and the Classic World Stage (all you need to know about everything important).
Event Director Lee Masters explains: “We are all very excited about what this new feature brings to the show. We’ve always championed live working to educate as well as entertain the visitors but this takes it to a whole new level.
“The audience will be at the centre of the Classic World. Surrounding them will be project cars currently being worked on with live demonstrations of some of the key tasks and a chance for the audience to get the advice they need for their own restoration.
“There’s also freshly restored cars previously seen on the Barn Find display, and those classics that need regular care and maintenance to keep them going. None of these exhibits are static and are best seen when driving, so they will take to the Classic World roadway so the audience can see and hear them brought back to life.
“Bringing this altogether, is the Classic World stage where you can find all you need to know about everything important about owning a classic vehicle. Rather than just have a live stage with interviews and guests, we want to encourage two-way conversation and some healthy debate about the classic motoring community. The audience will have the opportunity to give their opinions both visually and vocally. It will bring a really different element to the show.”
The stage will also welcome interviews and insightful seminars with special guests such as TV motoring restorers Ant Anstead from Wheeler Dealers, Car SOS’ Fuzz Townshend, and Jimmy De Ville from Goblin Works Garage and Fifth Gear. There will also be some hot topics discussed including the skills shortage and the ‘dying arts’ of classic restoration, electrification, restoration versus preservation, the future of fuel, MoT exemption, Smart Motorways, and that age-old question – what’s a classic?
There will also be the opportunity for the public to get involved as each day will see six classic car owners invited to show off their car and drive it on the Classic World roadway.
The show also boasts the UK’s biggest display of barn finds in the Carole Nash Barn Find display, over 150 classic motoring clubs, live restorations, The Workshop demonstration theatre, over 250 specialist traders and spring’s biggest indoor autojumble.
Plus, there are more features including the Lancaster Insurance Pride of Ownership, Classic Car Auctions’ two-day sale, Sporting Bears’ Dream Rides and the final of the Lancaster Insurance Restorer of the Year for enthusiasts to enjoy.
The Practical Classics Classic Car and Restoration Show, with Discovery, is held 27-29 March 2020 at Birmingham’s NEC with tickets now on sale. For more information as well as the ticket prices and booking details, visit www.necrestorationshow.com
It’s during this time of the year when winter weather conditions swoop across the UK, causing misery for drivers and pedestrians alike. Snow, ice and rain are just a few conditions the nation experiences throughout this period, but as well as increasing the risks of losing control of your vehicle; winter weather is known for...
It’s during this time of the year when winter weather conditions swoop across the UK, causing misery for drivers and pedestrians alike. Snow, ice and rain are just a few conditions the nation experiences throughout this period, but as well as increasing the risks of losing control of your vehicle; winter weather is known for damaging the roads surface itself, effecting a large percentage of drivers.
As water settles beneath the roads surface, cold winter temperatures cause the water to freeze and expand. The main issue this presents is that as the expansion happens, the road’s surface starts to crack; resulting in one of the biggest issues causing damage to cars across the country; this being potholes.
For any driver it’s more than likely you’ve experienced the unexpected drop, as one or more of your vehicles wheels falls into the pothole. The main problem caused by potholes is that the longer they’re left, the worse they become. As more and more potholes appear on Britain’s roads each year, local councils have to pay out various amounts of compensation to drivers, who have sustained injury to themselves and damage to their vehicle, because of the effects caused by these nuisance holes.
In order to discover this information, LeaseCar UK completed research to uncover which council has had the most compensation claims, as well as the council which has had to pay the most compensation in total. So, what findings can we reveal?
During the period of 2018-2019, Surrey County Council come out on top for the most compensation claims made (3,533). In second place was Hampshire (2,665), followed by Hertfordshire (2,190). These top 3 councils had a considerable amount more compensation claims compared to those at the bottom end of the scale. But which councils are they?
Richmond upon Thames Borough Council had a surprisingly low amount of claims (2), compared to that of Surrey. Also at the bottom end of the scale was Islington (23) and Waltham (24).
Unsurprisingly it was Surrey County Council who has paid the most in compensation (£323,222). Bury Council finished in second place (£217,992.15), closely followed by Northamptonshire (£214,804.22). But which councils paid the least in compensation?
Islington and Sutton Borough were both at the bottom, having paid nothing in compensation claims. Redbridge had the third lowest (£302.14), followed by Rotherham (£353). It’s really surprising to see the difference in pay outs from the highest amount to the lowest.
The information reveals that it’s Surrey County Council who have had the most compensation claims and in turn, paid out the most to residents. You can see the scale of the #PotholePandemic in the UK and the amount it can cost each council.
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