Iconic Auction: Two Souls to Make Everyone Happy

Iconic, the current name of the historic Silverstone Auctions, also included a group of lower-priced cars in this auction, normally offered by its affiliate Classic Car Auctions, or as it is often called, CCA. On 28 and 29 August the typical Iconic cars were on offer (competition cars on the 28th and road cars on the 29th), while CCA’s more affordable cars were offered on 30 August. The result was an interesting auction and a mix of data that reflects this dual concept: 330 cars offered and 233 sold (a record for Iconic), with a success rate of 70.60%. The estimate for all the cars offered was £12,746,000, so the result of £8,396,458 (about 66%) is more than fair. The average price of £36,036 reflects the two sides of the event: it is half that of a normal Iconic auction and double that of a CCA auction.

The failure to sell two top lots, the 1975 Lamborghini Countach LP400 Periscopio (stopped at £820,000) and the 1973 Porsche 911 2.7 Carrera RS (stopped at £430,000), made the 1955 Porsche 356 PreA 1500 Speedster, in need of restoration, the queen of the auction. There is something to be said about the restoration: it was every collector's dream. Owned by the same family for 70 years, found in Ohio (USA) and completely restored mechanically, it had a perfectly original interior and bodywork, making it a perfect contender for success in the preservation class of any Concours d'Elegance. It is difficult to find such an important car that literally “oozes” history from every single dent, so the estimate of £350,000-400,000 was more than fair. It is therefore not surprising that the price was £393,750, and if that seems expensive, find another one.