Bonhams at Goodwood: The Right Cars in the Right Place

Bonham's auction organized during the Goodwood Revival always features exceptional lots. This commentary will focus on the numbers and a comparison with the 2023 results. Perhaps due to the incessant rain or the packed racing schedule, this year’s auction had two speeds: in the first 58 lots (up to lot 160), over 70% were sold, followed by a sharp slowdown with only 6 of the next 31 lots sold, a total of less than 20%. Fortunately, the two halves balanced out, and by the end of the day, 47 cars were sold, representing 52.80% of the 89 cars offered. Compared to 2023, all parameters were down, but nothing too serious. For example, the sale percentage last year was 64.29%. In terms of value, the figures might seem misleading: sales dropped from £8,390,882 to £5,818,297 this year, but the estimates this year were only £12,209,000, much less than the £16,656,000 from last year, with an almost identical result: from 50% to 48%. The difference in average prices was also limited: £133,189 in 2023 compared to £121,215 this year.

Despite the rain, some cars shone, particularly the top lot, the last air-cooled Porsche 911 Turbo 993. Nicknamed "The Last Waltz", it rolled off the production line on March 27, 1998 — the same day Ferdinand Porsche passed away. Personalized by the special wishes department, no Porsche 993 Turbo had ever exceeded £370,000 at auction. The estimate of £700,000-800,000 was ambitious, but despite its low mileage (11,000 km), the market corrected it to £614,200 — still a 60% increase over the previous record. For the record, another "Project Gold" model was built 20 years later using leftover parts, but it wasn't officially registered and was sold for charity, so it doesn’t count in the statistics.

1998 Porsche 993 Turbo sold for £614,200 (€733,800).

Another leap forward was made by a stunning Jaguar replica, the Catman XJ13. This faithful reproduction of the mythic, ill-fated 1965 Jaguar XJ13, originally designed for Le Mans but never raced due to a rule change, was impeccably built in the early 2000s. Unlike the original’s aluminum monocoque, this model features a tubular frame and a Jaguar V12 engine from the 1970s. Though estimated between £120,000 and £200,000, a bidder offered £253,000 — more than double the minimum estimate — and rightfully so.

1965 Catman XJ13 Re-creation sold for £253,000 (€302,250).

A new record for a non-factory Mini Cooper was set, undoubtedly thanks to the location. Bonhams offered the 1964 Austin Mini Cooper S driven by Anita Taylor and Gerry Marshall, a famous Mini racer. Nicknamed "Minty" for its turquoise color, it raced at Oulton Park, Crystal Palace, and Brands Hatch, most notably in the St. Mary Trophy, a Mini-exclusive race held at Goodwood. While the most expensive Mini had previously sold for barely £50,000, this one, estimated at £65,000-75,000, sold for £69,000 — perhaps slightly underpriced considering its history.

1964 Austin Mini Cooper 1071 S sold for £69,000 (€82,500).

History was also the defining factor for the 1968 Ford Escort 1.6 FVA Group 5. Its Alan Mann Racing Team livery celebrated its successes at Brands Hatch and Mallory Park, with legendary drivers like Graham Hill, Roger Clark, and Jackie Oliver behind the wheel. Of the six built, only three remain, and this is the only one with its original body and 210 bhp FVA supercharged engine. With an estimate of £180,000-250,000 — far surpassing the £83,250 record for any non-factory Ford Escort. This one sold for £195,500.

1968 Ford Escort 1.6 FVA Group 5 sold for £195,500 (€233,500).

There were also some good deals, like the 1967 MGB Roadster, prepped for the London-to-Sydney Marathon by University Motors. After nearly a month and 9,500 miles of racing, this MGB won its class, but its history after the event was unclear, justifying an estimate of £20,000-50,000. Due to this gap in history, the car sold for £23,000 — a gamble for the buyer to uncover its true story, which is part of the charm.

1967 MGB Roadster sold for £25,300 (€30,250).

Another special car was the 1959 MGA Twin Cam Roadster. Built in March 1959, it saw the checkered flag at the Tulip Rally the following month and did so again the next year. Though not an official car, it was treated as such, competing in 46 rallies with 25 class wins. With only 2,111 Twin Cams produced (and just 360 sold in the UK), the estimate of £35,000-45,000 seemed modest. It sold for £34,500 — worth double in my opinion.

1959 MGA Twin Cam Roadster sold for £34,500 (€41,250).

A stunning 2006 Ferrari F430 Coupé was also a great deal. Despite rising prices in recent years, the £95,000-115,000 estimate seemed low for a car with the rare manual gearbox, a carbon-fiber interior package, and only 15,000 miles. Its "normal" red exterior with cream interior and right-hand drive may have deterred bidders, but at £94,300, it fell well below what I consider a fair price.

2006 Ferrari F430 manual gearbox sold for £94,300 (€112,500).

However, the best deal of the day went to the buyer of the 1971 Maserati Ghibli 4.7 Coupé. This model has depreciated significantly over the past year, and while Ghiblis sold for well over £200,000 in 2015, prices at Pebble Beach this year dropped to around $150,000. I thought, "This is a car to recommend". The Goodwood example wasn’t in perfect condition — it had been sitting still since the '80s and needed work. However, it was left-hand drive and had passed its MOT last year, so with some skill and £60,000-80,000, one could take home a fantastic grand tourer at a bargain price. To my surprise, the market deemed even the estimate too high, and after being passed at auction, Bonhams managed to close the deal at £49,167. It will rise in value.

1971 Maserati Ghibli 4.7 Coupé sold for £49,167 (€58,750).