Iconic. Where tactics triumph
15 November 2023 3 min read 8 images
Photo credit: Iconic Auctioneers
Cliff Goodall’s view
A name change often hides an underlying story. Replacing the well-established Silverstone Auctions with the ambitious Iconic was a bold move. Although the numbers look good - 104 cars sold for £5,513,851 - the ratios are jarring: 163 cars were offered, and a 63.80% sale rate is hardly award-winning. Compared to last year, sales were down by over £1.5 million, even though 22 more cars were sold back then, and the average sale price decreased from £57,120 to £53,018.
Iconic Auctioneers Nec, 12th November 2023
This time, instead of starting with the top lot, let’s begin with the deal of the day to understand why being there to seize the moment was crucial. It was a 1995 Lancia Delta Integrale Evoluzione II, red, with 71,500 kilometres on the clock and left-hand drive. This model has been a top choice among ‘youngtimer’ enthusiasts, arguably more so than the Porsche 911 (which has a more classic style), and prices have soared in the last five years. Consider that Iconic (then known as Silverstone) set a record for a similar model a couple of years ago. However, this one wasn’t a rare Martini 5 or 6 and wasn’t in perfect condition either, so it was never going to reach six-figure valuations, but the £68,000-£78,000 estimate seemed spot on. Yet, the room remained inexplicably lukewarm, and it sold for just £55,667, the lowest value for an Evo 2 since 2020.
Cars without a reserve often have intriguing stories. A 2002 BMW Z3M Coupé, featuring the (highly-desirable) S54 engine, was one of only 165 right-hand drive models built, of which just 14 came in the striking and rare colour of Stahlgrau Metallic (Steel Grey). Another notable lot was a red 1966 Porsche 911, a 2.0 SWB Coupé, initially destined for the American market. Despite its origins in Nebraska, a state known for harsh winters and corrosive salt, it was brought to the UK in 2014 for a comprehensive restoration and was recently serviced by marque specialists Autofarm.
The BMW Z3M had an estimate of £45,000-£55,000, and the Porsche was estimated between £80,000 and £100,000. The Z3M sold well at £60,750, £15,000 above the minimum estimate. However, the 911 fell short, selling for £67,500, £13,500 below its lower estimate.
The two Jaguar XJ-S coupés offered at the auction presented an interesting comparison. Both featured the 5.3 V12 engine and were presented in a similar colour. One was a 1982 model with 17,500 miles on the clock, while the other was a 1989 version with 31,000 miles under its belt. The estimates? Identical at £20,000-£25,000. History or mileage? The 1982 model, (therefore with fewer miles), narrowly won at £18,843, compared to £17,437 for the 1989 model.
History can indeed add value! A 2004 Range Rover, once driven by Her Late Majesty Queen Elizabeth I I (and reportedly quite well), despite having a vague description and no mention of its engine type, was estimated at £50,000-£60,000. It sparked a bidding war and sold for £132,750.
This price didn’t even tickle the top lot of the day: a Ford RS200 Evolution. While RS200s are rare (only 144 were built), the Evolution models – with their 2.1-litre engine doubling the power output of the “base” models – like the one offered here are even scarcer – only 14 were made, and this was one of just four right-hand drive models. And it had only 12 miles, yes you read that correctly, twelve! Estimated at £500,000-£700,000, it fetched £486,000, setting a new record that surpassed the previous highest sale by over 15%.
It was also a great day (and new record) for a Jensen, this time a 1973 Interceptor “re-engineered” by Jensen itself in 2007 with a 435 bhp LS3 Corvette engine, 6-speed automatic transmission, and all the latest technology, now costing around £400,000. The estimate of £80,000-£90,000 already earmarked it for a spot among the most expensive Jensens ever sold, but at £135,000, almost 69% above the minimum estimate, it rose to the top spot.
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