Classics gallop away at Silverstone sales

Filed under: Auctions,Classic News |
1973 Ford Escort Mk1 MexicoA stunning 1972 Ferrari 365 GTB/4 Daytona selling to a room full of applause for a premium inclusive £540,000 was one of the highlights of Silverstone Auctions’ inaugural Sale of Ferraris. It was one of several ‘Prancing Horses’ that fetched six figure sums in the event which saw 70 per cent of the cars on offer finding new homes in the debut one-make sale held in association with the Ferrari Owners’ Club of Great Britain. Meanwhile the following day in Silverstone Auctions’ annual May Sale, 63 best of breed classics and modern sports cars were successfully hammered away, including a 1973 Ford Escort Mk1 Mexico for a new world record auction price of £50,625. In total, 63 per cent of the classics on offer over the two sales sold, with a total sales value of £5.3 million. “We’re incredibly pleased with the results of our two sales this weekend,” comments Nick Whale, managing director, Silverstone Auctions. “With much of the nation’s focus on events at Windsor and Wembley, coupled with the fact that our Sale of Ferraris was our first ever, it was always going to be tough going. However, to have achieved sales of over £1 million more than at our May Sale last year really is a great achievement and shows that demand for best of breed classics remains incredibly strong.” In addition to the Daytona, other highlights of the Sale of Ferraris included a 2000 Ferrari 550 ‘World Speed Record’ selling for £146,250, a 1964 330 GT Series 1 also fetching £146,250, and a 1978 512 BB selling for more than £30,000 over its lower estimate for £140,625. Away from Maranello’s finest, Saturday’s May Sale had plenty of variety and appeal to ensure a number of furious bidding battles. The opening lot of the day, a 1985 Renault 5 Turbo 2 ‘Type 8221’ project car in need of restoration, sold for more than double its estimate at £55,125. The rare 1966 Iso Griffo GL 350, formerly owned by Mike Hailwood MBE, eventually sold for £270,000, £50,000 more than its pre-sale estimate. The ongoing demand for fast Fords continued with a 1987 Sierra RS500 Cosworth selling for £112,500. Porsches once again proved popular with a 1973 911 S 2.4 selling for £166,500 and a 1980 911 (930) Turbo fetching £129,375. A 1967 Jaguar E-Type 4.2 Roadster Series 1.5 sold for more than £30,000 over its pre-sale estimate at £105,750, and a 1966 Mercedes-Benz 230 SL sold for £92,813. “With the demand for great classics remaining strong, our attention will now turn towards our highlight sale of the year at the Silverstone Classic Festival in July,” adds Nick. “As the world’s biggest classic motor racing festival I’m sure it will once again be a fantastic event. Reflecting this, we will have a limited number of spaces available in our competition and classic car sales for the very finest motor cars so if you are interested in submitting an entry, we’d recommend getting in touch as soon as possible.” Quality entries are now invited for the Silverstone Classic sales with a competitive 5%+VAT seller’s commission.