The Bonham’s 11th annual auction of Aston Martin cars, which happens to be the only auction that’s dedicated entirely to Aston Martin witnessed some incredible action – almost 95 percent of all that was put up for sale found a buyer at an estimated cost of £3.5 to £4.2m.
The auction set new records, erasing many of those that stood steadfast for all these years, like the 1968 Aston Martin DB6 Vantage ‘barn find’ that was fought over by 9 bidders who bid over the phone, five absentee bidders and five bidders who were present in the room, before the car eventually got sold for a whooping £124,700 against an estimated £20,000 to £30,000.
The 1962 Aston Martin DB4 Series IV Vantage was another most sought after car which was mainly because it was used as a ‘test mule’ in the James Bond film ‘Goldfinger’, and was finally lapped up for £84,000, which is double of what it was estimated to be at £40,000 to £50,000. The top draw was ‘VMF 65’ – the ex-Works 1950 Aston Martin DB2 Team Car that was raced by drivers like Stirling Moss, Peter Collins, Roy Salvadori, Tony Rolt, Lance Macklin, George Abecassis and Eric Thompson. The car saw some fierce bidding that jacked its price up to £513,000 while presale estimates had put its value at £380,000 to £440,000.
The group head of Bonhams Motoring Department, James Knight revealed, “With a handful of world records having been broken, this demonstrates the strength of the collectors’ motor car market and that of the Aston Martin and Lagonda marques in particular. I was reassured by just how many people were bidding.”
Meanwhile, research provider IHS Global Insight predicts sale of cars priced above $100,000 (€82,000) is poised for a 42 percent jump this year in the US after it plummeted by about 30 percent last year owning to a financial meltdown. The research provider also said, sale of Rolls Royce is likely to increase 20 percent this year due to increasing demand for the model Ghost. At the same time, the waiting list for cars like the Ferrari California or the 458s is getting longer too.
However, according to the head of equities and manager of the Luxury Fund at Global Asset Management, Dr Scilla Huang Sun, the demand for premium classic cars is on the rise, the same for flashier models continues to drive southwards. “In the West at least, less well-known car brands are still getting weaker, and consumers above all want value for money,” is what she has to say.
Source: wealth-bulletin.com, byzan.org
