Classic Car Enthusiasts Turn Attention to Big Auction in UK Next Month
There will be a lot of treats for classic car lovers in the United Kingdom this coming Halloween. That’s the day that a classic car fleet worth an estimated $42 million will go on the auction block that features lots of rare automotive gems, including an Aston Martin once owned by Paul McCartney, a Ferrari Formula One racing car, a rare Gullwing Mercedes coupe and many other automotive sweets. Many eyes will focus on the RM Auctions Automobiles of London event in Battersea, where at least 91 classic cars will be on the auction block.
Highlights on the docket include these:
- A 1956 Mercedes-Benz 300SL Alloy Gullwing, one of just 29 built, worth an estimated $5 million
- A 1998 Ferrari F300 Formula One Racing car, worth an estimated $750,000
- A 1967 Aston Martin DB6 Shooting Brake, worth an estimated $510,000
- A 1967 Mercedes-Benz 600 Pullman Limousine once owned by Coco Chanel, Elizabeth Taylor and John Lennon, worth an estimated $175,000
- A 1952 Bentley Continental R-Type Fastback Sports Saloon by H.J. Mulliner & Co., worth an estimated $1 million
- At least 11 more classic Aston Martin automobiles of various vintages
- At least 11 more Ferraris, including a pristine 250 GT LWB ‘Tour de France,’ worth an estimated $3 million
- Vintage Bugattis, Mini Coopers and even a few vintage motorcycles as well
Prices for vintage automobiles have surged in recent years as more and more buyers have turned to them as investment vehicles. Prices for exceptionally rare cars, such as the Gullwing Mercedes and others, have increased as much as 19 percent in the last year alone, making them a very attractive option for investors looking for opportunities. Classic car values are closely monitored by Dietrich Hatlapa of the Historic Automotive Group Index, who says that values are up an astonishing 63 percent in the last five years.
He reports that, “Classic cars have been doing very well recently, and this year there has been a double-digit increase in value. The increase doesn’t apply to all old models, but rare cars which are technically interesting and have a racing pedigree are doing well.”
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