What to learn from Auctions. Useful and enjoyable
13 January 2024 3 min read 7 images
Photo credit: ACA Anglia Car Auctions, Bonhams, Gooding, Iconic, Mecum
Cliff Goodall’s view
Although we methodically followed all the major auctions in 2023, before diving into 2024 (with Kissimmee already underway...), we want to revisit some notable highlights from the less-publicised auctions of 2023.
First up, during an online auction held between 26th April and 8th May, the hero car from Fast and Furious 4, modified by Kaizo Industries and driven in the film by the late Paul Walker, shattered every record for the Nissan Skyline R34 GT-R. The car was located in Belgium but was offered in dollars (hinting at its intended audience). While a standard model might cost around $150,000-$180,000, this one’s staggering $1,357,000 sale price was off the charts. We now know that great classics – from James Bond to Bullitt – have about a 9x multiplier, so further price surges for this vehicle won’t be surprising.
The second spotlight falls on a quirky individual at the Historics auction held on 13th May 2021, who bid on a 1993 Lancia Delta HF Integrale Evo 2, left-hand drive, blue with tan interior, and 87,750 km on the clock. He took it home for £59,360. The car is indeed beautiful, but this bidder isn’t just any punter, he’s a savvy car enthusiast – none other than Rowan Atkinson. You might know him better as Mr. Bean, but behind the wheel, his expertise is no laughing matter. With a degree in aerospace engineering and a history that includes a McLaren F1, which he sold for a hefty profit years ago, he’s no stranger to smart investments. Fast forward to February 2023, he re-auctioned the Delta, now with an additional 1,800 km (89,300 km total) on the clock and, most importantly, his celebrity ownership on the logbook. Had he sold it for £65,000-£75,000, it would have already been a good deal, but it eventually went for £87,750. One can imagine his loyal teddy bear giving a subtle nod of approval.
Moving from one Lancia to another, but brace yourselves, this one’s a horror story. You might recall the ‘celebrated’ 1951 Lancia Aurelia B10 Saloon that took part in the 1952 Mille Miglia with driver Umberto Maglioli behind the wheel. In April, this car ended up as the top lot of the ACA sale in Kings Lynn. Originally estimated at £18,000-£22,000, it soared to £58,320. More than one enthusiast had a field day dissecting this event. It returned (again through ACA) this time with no mention of the Mille Miglia or Maglioli, with an estimate that was painfully telling: £10,000-£15,000, and it went, rather miserably, for £8,100.
Bonhams, despite losing the sponsorship of the London-to-Brighton, held an exclusive auction for automobiles from the dawn of the 20th century. In the spotlight were two vintage Browns: an 8hp model from 1903 and an 18/20hp version from 1905. The former, a two-cylinder model with a rear-entrance configuration, was especially notable for being eligible for the renowned November race. The latter, a powerful four-cylinder for its time (which could be likened to a supercar of 120 years ago) with a side-entrance tonneau, lacked the ticket for Brighton. Here are the estimates: the smaller and older model was valued at nearly triple the other: £130,000-£160,000 versus £50,000-£70,000. Ultimately, the newer model fetched £49,450, while its elder counterpart found no takers. What might the newer model have fetched had it been eligible?
Turning to the unfortunate highlight of the year, it seems the adage ‘unsold is the unluckiest lot’ holds true. A 1929 Duesenberg Model J with a Blind Quarter Brougham bodywork by LaGrande, made an appearance at Mecum’s Monterey event in August 2022. With an estimate of $1.5m-$1.7m, it received a bid of $1.1 million, which was rebuffed. Mistake! This was the beginning of a downward spiral into the abyss of the unsold, casting a shadow over its future prospects: first at Kissimmee in January 2023, it went home after refusing an offer of $900,000; then in Indianapolis, it was bid up to $850,000 and again met with refusal; finally (once again) at Monterey, the bids stalled at $800,000 ($300,000 short of the previous year) and the deal fell through once more. As you read this article, the same Duesenberg is back at Mecum in Kissimmee, with an estimate of $750,000-$900,000, and still under reserve. Will it find a buyer on its fifth attempt?
I’ve saved the best for last.
First: the Queen’s Land Rover. In truth, I had already mentioned this vehicle back in November, but now I have new, juicy details. Okay, let’s clarify that it’s not a Land Rover but a Range Rover 5.0 V8 Supercharged used by Queen Elizabeth II. On 22nd July 2023, from Iconic, this vehicle was sold for £33,002. Though direct proof of the Queen’s personal use wasn’t established (a nod to the Maglioli Lancia situation), the new owner struck gold by unearthing a video of the Queen getting out of a Range Rover with the same license plate! Done deal! Bolstered by this royal connection, the vehicle made a triumphant return to Iconic in November, this time with its provenance pushing the bids to an impressive £132,750: almost £100,000 above its price just four months earlier!
I’d like to conclude with my favourite car of the year: a ‘very ordinary’ 1967 Porsche 911 2.0S Coupé in Sunburst Yellow. The car didn’t fetch any special price, on the contrary: estimated at $275,000-$350,000, it went unsold at $200,000. However, it was the car’s first owner who captured my imagination: George Vernon Russell, a name listed in the catalogue that led me on a delightful historical chase. Russell, a distinguished architect, left his mark with the design of the library at the University of Southern California. At that point, I searched for photos of that same library and pictured him with this car in front of the construction site, and how fascinating it would be to bring it back to that place which is part of its history. A touch sentimental, perhaps, but every car has a tale to tell, and uncovering them is part of the charm, enhancing our appreciation for these mechanical marvels.
CLASSIC CAR MATCHER