Classics rev up a fortune
The classic car market is still buoyant and many people are looking at collectibles as an investment that is also fun, according to Chris Routledge, managing director of specialist car auctioneers Coys.
'We are seeing traditional investors moving away from financial markets and looking at investments that are more tangible,' he said ahead of the COYS True Greats sale, where 36 cars were auctioned at London's Royal Horticultural Halls this week.
There is still plenty of cash around for collectibles in the crisis-hit West. A silver Aston Martin DB5 with black interior owned by George Harrison was offered for between GBP225,000 (HK$2.72 million) and GBP260,000, the auctioneer says.
Manufactured in late 1964, the DB5/1896/R was supplied new to the Beatle on January 1, 1965, and spent time in a Tokyo museum and Germany before being sold with 22,000 miles on the clock.
A Cord 810 Phaeton owned by Jimmy Page was also auctioned and a silver 1962 Mercedes Benz 300 SL Roadster with red trim stored in an Edinburgh garage for the past 23 years was offered for between GBP225,000 and GBP275,000, with a 13,000 mileage.
Hong Kong collectors might keep an eye on sale prices at Barons' Yuletide Classic auction in Surrey Hall at Sandown Park on Tuesday.
An 'outstanding and exceptionally rare' 1932 Alvis Speed 20 SA two-door Sports Tourer, is being offered for GBP95,000-GBP120,000, and 'if you're thinking of going historic racing in 2012, Barons has a 1959 Elva 100 Formula Junior, with 1098cc A series engine and copies of HSCC identity form, VSCC eligibility card and FIA Papers up to and including the year 2000', the auctioneer says, expecting bids between GBP25,000 and GBP30,000. A 1965 Austin Healey 3000 MkIII is offered for GBP29,000-GBP33,000.
A significant collection of 700 toy cars from the 1920s to the present day is also for sale at Historics at Brooklands (www.historics.co.uk), outside London, on February 18.
'The Martin Webb Collection includes three extremely rare, unopened, 1/8th scale Italian 'Pocher' kits, each valued at between GBP450 - GBP550,' the auctioneer says.