Small Auctions on the Rise: Iconic Shakes the Market with CCA Acquisition
23 November 2024 7 min read 9 images
Photo credit: Iconic Auctioneers
It’s unclear whether we should consider the sale by Iconic in Birmingham on November 9 as the last auction by CCA – Classic Car Auctions before its acquisition by Iconic or the first under the new ownership. It matters little, given that the two companies were already connected. What stands out, however, along with Christie’s acquisition of Gooding, is the strong signal this sends: the leaders in the booming classic car auction market are flexing their muscles. This is a strong indication for the sector’s growth.
Either way, the results of this auction are very positive, undeniably a sign of good health: a 4% increase in cars offered (from 163 to 170), many more sold (+24%, 129 compared to 104), and a notable rise in the success rate, which climbed from a "decent" 63.80% to a "remarkable," to say the least, 75.88%. However, the real magic lies in the turnover; despite offering £1 million more worth of cars (from £8 million to £9 million), the total sales rose by over £2 million, from £5,513,851 to £7,718,053—a growth of 40% (and an average price that also increased by 13%).
The top-performing car—and there is no doubt about this—was a 1989 Ford Sierra RS500, which had competed in the British Touring Car Championship as a standout with significant victories. It was presented at the auction in its iconic livery and was offered with an estimate upon request. It sold for £309,375.
When it comes to fast Fords, not one but two of the extremely rare RS200s were offered. The first, a completely white example with only 8,877 miles, sold for £236,250, well above the estimate of £190,000–210,000.
The second, with just 1,798 miles, featured the brand’s rally-inspired white-and-blue livery but was otherwise entirely original and unmodified. It sold within its estimate of £220,000–260,000 at £247,500. The rarity here lies in finding two RS200s at the same auction, an extraordinary occurrence that drew many bids.
The auction house proudly highlighted a new record set during the sale for a Ford Escort RS Cosworth (£202,750), which sold for twice its estimate of £80,000–100,000. This overshadowed another notable record: that for a BMW 1602. A truly magnificent example, it was so pristine it looked almost fake! The interior was immaculate, the paint nearly flawless, and the engine untouched; it had only 3,349 miles since its construction in 1975. The estimate seemed quite low, given the car’s quality (£24,000–28,000), but the market rewarded its uniqueness with a sale at £33,750. I wonder: is this a trend for the model, considering the record set for the more powerful 2002 version at Pebble Beach (August) at $78,400?
Another car with remarkably low mileage was a 1990 Citroën 2CV6 Spécial. Its year of production is significant: 1990. In France, production had ended in 1988 and moved to Portugal, where it continued until July 27, 1990. This particular car, a rarity within a rarity, was produced on June 12, 1990, making it one of the very last examples. Its first owner bought it as a gift for their daughter when she became an adult. In the meantime, the daughter became an internationally renowned athlete, traveled extensively, and hardly used the car. Arriving at the auction with only 557 miles and an estimate of £15,000–20,000, it sold for £22,500.
Among the curiosities was the “Recreation Collection”, a group of nine replica cars from the same garage. They were clearly not original, even somewhat clumsy, but very affordable. The most expensive, of those with disclosed prices, was a California Spider Tribute based on a 1997 BMW Z3 M. With the engine from the M version and some “original” parts like wheels and exhaust (worth £4,000), it was offered without reserve—or an estimate—and sold for £28,125. Was it worth the price? If bought just to run errands or for a weekend drive, I’d say the money was well spent.
Then there’s the mystery of the Aston Martin V8 Vantage Race Collection. For Iconic, this was a very rare series of seven cars—this one being the last—produced in 2011. My memory recalled seeing it at Bonhams last year. In December 2023, all seven examples, with minimal mileage, had passed through the same auction with prices between £40,000 and £48,000. My curiosity led me to investigate whether the seller profited or took a loss. To my surprise, it wasn’t listed. The only possible match, considering the colors, was chassis 181, but Iconic’s was chassis 185. A typo or were there more than seven cars? If it was the former, the price rose from £41,975 to £51,750 (estimate £50,000–60,000).
The car to put in your garage? A Mini JCW GP2 from 2013. This limited edition (2,000 units, all sold out in a flash) didn’t feature a more powerful engine than the standard version, but its stiffer suspension, enhanced aerodynamics, and lowered setup made it feel even more like a go-kart. With just 34,566 miles, it was estimated at £15,000–18,000 and sold for £15,750. A smart buy: this is a car that will appreciate in value.
The best deal? The car I’d have loved to park in my garage: the 1975 Lancia Stratos “Group 4”. Its history was more than complex: rebuilt between 2017 and 2018 on an original chassis and modified to Group 4 specifications. Ready for use, its estimate was very competitive (£280,000–320,000) — 30–40% lower than a perfect example. Sold for £298,125, it’s the cheapest I’ve seen in years. To be clear, this car was meant for a specific kind of buyer: someone interested in racing or rallying. For anyone considering a concours d’elegance, spending that extra 30–40% would have been advisable.
CLASSIC CAR MATCHER