Auctions: Cliff’s hidden gems
16 August 2023 3 min read 8 images
Photo credit: Aguttes, Artcurial, Barrett-Jackson, Brightwells, H&H, Hampson Auction, Mecum
Before the Pebble Beach auctions, it’s time once again for our traditional rendezvous with “What have we missed”, a recap of what has happened – but also what we haven’t had room to discuss – over the last few months.
This time, we have an array of cars spanning over a century and with prices ranging from a few thousand pounds to tens of millions. It’s up to you to decide what to go for, based on your tastes and budget.
Our approach is to start with the older sales and work our way up to those of just a few weeks ago. So, let’s begin with the first example of the Chevrolet Corvette E-Ray, due to enter production in 2024. The occasion was the twentieth Barrett-Jackson auction in Palm Beach (FL), on 15th April. As is often the case with this auction house, the first series-produced electric Corvette was offered without reserve and with all proceeds going to charity. Therefore, the value itself was not very significant, but nevertheless it changed hands for $1.1 million. Interestingly, last year, the first Corvette C8 Z06 (also from B-J, also for charity) changed hands for $3,700,000. Perhaps the foundation was different, but it’s plausible collectors aren’t quite ready for a plug-in supercar.
Not even a week passed, and on 17th April, another enticing opportunity appeared. The French Aguttes is pushing hard to rise in the ranks of the most important auction houses of l’Hexagone, and it would appear that its efforts are paying off. The sale in Paris coincided with the Tour Auto, and the lots were a mix of lifestyle items (wines, watches, bags) and, of course, competition cars. The outcome wasn’t remarkable, with only 2 cars out of 7 sold. However, the 1985 Peugeot 205 Turbo 16 Evo 1 set a new record for the car. Estimated at €450,000-€650,000, it changed hands for €587,640. In reality, the all-time record for the Peugeot 205 T16 was higher (€977,440), but that was a rarer and more powerful ex-works Evo 2, whereas this one had been converted using parts from various sources. The quality gap between the two cars was substantial, so kudos to Aguttes for the result.
Skipping briefly to my favourite car, let’s move on to the 1963 Ferrari 250 SWB replica at Brightwells on 3rd May. The car, as often happens, was built from a donor vehicle, a 1963 Ferrari 250 GTE 2+2 and was converted into an SWB by GTO Engineering in 2010. The engine has been upgraded to 275 spec therefore capacity has been increased to 3.3 litres, and it’s also equipped with power steering, all with FIA certification, allowing it to participate in numerous events. The price: the estimate wasn’t specified, but at £806,400 ($1,025,550), it’s by far the most expensive car ever sold by Brightwells (likely doubling or even tripling the previous record). As for the sale: RM was the first to organize auctions for a very special single lot (the first ones that come to mind are sealed bids, but also Lewis Hamilton’s McLaren-Mercedes MP4-25 Formula 1. This phenomenon has now also spread to smaller auctions.
June brought with it a 1936 Jaguar SS100 2.5 Litre Two-Seater Sports worthy of everyone’s attention. This time, the “playing field” was the Imperial War Museum in Duxford, England, and it was auctioned by H&H. However, this particular SS100 was no ordinary car: it won the 1937 RAC Rally (beating the official team) and also participated in the 1937 Monte Carlo Rally. Estimated at £380,000-£450,000, it was sold for £393,000 ($499,800), the second most expensive 2.5 litre and the highest since 2017. Just a few months earlier (in December 2022), the same car had been offered at £450,000-£550,000 but stalled at £400,000. Curiously, it was listed as a 1937 model in December, but had “aged” by a year in June.
The beginning of July saw the most expensive car sold in Europe this year. It’s the dear old 1964 Ferrari 250 LM, chassis 5901, which went unsold at Retromobile. At that time, the estimate was unknown but was rumoured to be around €25 million (with offers stopping at €20 million). This time, Artcurial tried its luck again: a sale for a single special lot – the trend expands – incredible advertising (the auction was organized on 6th July, a week after their Le Mans Classic sale), all for just eight minutes of auctioning. The bids this time hit the target, and a fortunate buyer took it home for €15,771,200, nearly five million less than the previous offer.
As July drew to a close, another noteworthy car went unnoticed: a 1967 Ford Mustang GT Convertible with a 390 S-Code engine. Mecum offered it at Harrisburg on 29th July, and it was in pristine condition, meticulously restored using many OEM parts, triple black (entirely black: body, interior, and convertible top), and equipped with air conditioning – a real gem. It was one of the best of one of the best versions (or perhaps the best of the best version), inevitably commanding a high price. However, at $165,000, it’s the most expensive first-generation Mustang Convertible (produced between 1964 and 1968) ever.
I only have two left, so I need to pace myself.
The first was a true rarity. While I’m well-acquainted with automobiles, I was surprised to discover I had never heard of this one. Before revealing what it is, let me ask you: look at the photo above, don’t read the caption, and tell me what car it is. Can’t figure it out either? Okay, it’s a 1988 Mitsubishi Cordia Turbo, and it came to my attention at Hampson Auctions during the Gold Cup 2023 Classics Auction at Oulton Park Circuit on 30th July. A genuine one-owner car with no reserve (and no estimate), this is probably one you’ll never come across again, but wouldn’t it be great for your pub quiz night? Sold for £5,344 ($6,800), and naturally, there are no references to say whether that’s high or low.
And so we come to Sunday 16th April, when my favourite car of the year came up for sale. I was browsing the Osenat website, saw this 1922 Amilcar CC, and fell in love immediately. What a beauty! A hundred years old (with half a century in the possession of the seller), and never restored! It appears to have remained untouched since the mid-1950s, and I wouldn’t change a thing about it. The estimate was quite reasonable, too: €15,000-€20,000 (also due to it being a pre-war car). I already started fantasising about all the events I could be invited to, but I had to face the harsh reality: I wasn’t the only one smitten with this car. Sold for €43,200.
CLASSIC CAR MATCHER