NOTICE | Red hot: If you’re going to buy a classic car, here’s why a British model is best
British classics are increasingly appearing on international lists of collector vehicles with increasing investment value. CEO of Creative Rides Kevin Derrick explains why these vehicles are such valuable commodities on the world stage.
This year’s classic car market has exploded, reaching all-time highs in terms of sales and values according to international indexes at all levels.
In June, the Hagerty market rating reached 78.22 – a record high after 15 consecutive months of increases – and a mid-year report published by Classic.com revealed startling statistics that quantified precisely how bad the market is. boiling at the moment.
PICTURES | Rare classics and an iconic Aston Martin DB6 headline SA car auctions in December
According Classic.comAccording to the latest semi-annual Top 100 list, the value of vehicles sold at major live and online auction sites around the world in the first half of 2022 soared US$1 billion year-on-year to US$2 billion. $.2 billion, down from $1.2 billion. sales for the same period last year.
1963 MGA Twin Cam Le Mans Roadster – MR
The total number of sales recorded at these online and live auctions has also increased from 31,098 in the first six months of 2021 to almost 45,000 in the first half of this year.
Models that made Classic.com’s latest Top 10 list showed returns on investment between 95% and 58%.
This echoed a New World Wealth report from last year noting that classic car prices had risen 90% over the past decade in dollar terms, making it the best performing investment class for investors. wealthy global investors during this period.
British classics are increasingly appearing on international lists of collector vehicles with increasing investment value.
1969 Aston Martin DB6 Mk2 Vantage – MR
This global focus on British designs was a major reason for the ‘British Invasion’ theme of our December 3 auction at Creative Rides in Bryanston, where over 60 classic cars will go under the hammer.
Out of the lot, here are my picks of my top 5 British Investment Collection cars that go under the hammer:
1. 1969-1970: Aston Martin DB6 Mk2 Vantage
The December auction will feature a spectacular 1969 Aston Martin DB6 Mk2 Vantage, one of only 71 right-hand drive cars ever built.
This makes the DB6 Mk 2 Vantage auction model one of the rarest Aston Martins of the David Brown era and therefore an even more valuable investment to collect. The four-seater DB6 Mk2 is also unquestionably one of the most elegant classic cars of all time.
Iconic design aside, models like the DB6 have always been expensive as Aston Martin took an average of three months to build each car.
According to Hagerty’s internationally recognized valuation tool, the current average value of this model is $431,000 (R7,633,355), but DB6s in mint condition Concours can fetch up to $752,000 (R13,318,522) .
Famous Aston Martin DB6 owners include King Charles of England, who received his as a birthday present from the late Queen Elizabeth. Others are Paul McCartney and Mick Jagger, who were at the forefront of the first “British Invasion” with the Beatles and Rolling Stones.
2. 1946–1950: MG TC
The compact roadster that became the darling of American servicemen stationed in the UK during WW2, is one of the five classic British investment cars for me and Hagerty.com, as noted in a trending article on the market in June.
More than any other vehicle in history, the MG TC sparked a love affair between Americans and British sports cars that continues to this day.
Many were shipped across the Atlantic in the post-war years to feed the American market’s appetite for small, fast roadsters that didn’t break the budget.
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They were also nifty track cars; Carroll Shelby won his first race in a TC.
According to Hagerty, the TC is the most valuable of the MG T-series models. It recorded a $43,700 (R773,962) July sale of a 1947 MG TC Roadster. The site’s review notes that 1947 models in Concours condition can fetch up to $61,200 (R1,083,901), up from around $56,000 (R991,804) in January 2020.
The international prices reflect the current rarity of these British collectible classics, one of which will feature in the Creative Rides auction next month.
1969 Jaguar E-Type Series 2
3. 1969: Jaguar E-Type Series 2
Sporting a huge 4.2-liter six-cylinder engine under its sleek hood, the 2 Series E-Type was launched in 1969, with several design changes.
Larger side lights and indicators have been repositioned under the front bumper, flanking a larger air intake.
There have also been changes to the rear of the car, where the bumper has been raised. Below were larger rear light clusters, with reversing lights and a new license plate plinth between them.
That said, there was and is no confusion between the 2 Series and anything other than an E-Type because Jaguar engineered every inch of it.
With their timeless design and elegance, E-Types have epitomized British investment classics for decades.
The Jaguar Daimler Heritage Trust mentions that the price of a new E-Type 2 Series in 1969 was £2,511, which at the time was equivalent to over two years’ salary in the UK.
Earlier this year, a Series 2 Concours model sold at auction for $190,400 (R3,372,136) in the US, clearly showing the market’s appetite for these classics.
According to figures from Classic.com, the average selling price of E-Type Series 2 cars over the past year was $62,281 (R1,103,046).
1958 MGA Hardtop Coupe
4. 1950s-1960s: MGA
One of the most recognizable and beloved British sports cars of all time, the MGA is a classic British collector’s item.
MGAs are incredibly popular in South Africa for many reasons including being available at all price points, there are plenty of spare parts available, there are MG clubs and a strong community of enthusiasts.
They also become more and more valuable over the years.
According to Hagerty, the average price of a 1959 MGA in good condition is currently $16,400 (R286,000), while JD Power pegs the value of MGA Twin Cams in excellent condition at $110,300 (R1,923,669 ), making these rarer MGAs extremely collectible.
MGA Coupes and MGA Twin Cam Le Mans Roadsters will be on the block at Bryanston in December.
1962 Austin Healey 3000S BN7 Roadster.
5. 1959-1967: Austin Healey 3000
The Austin-Healey 3000 is the best known of the “big Healey” models and is a perennial favorite among collectors of British classics.
During its production life, the car changed from an open sports car to a sports convertible. The 3-litre 3000 was also a very successful racer, winning its class in many European rallies in its heyday and is still raced in classic car competition today.
One of the reasons these cars, like the red 1962 Austin Healey 3000S BN7 Roadster we have at auction, are so popular among investment collectors is that fewer than 2,900 were ever made.
They also epitomized British sports cars of the era and were the rides of choice for high society.
According to Hagerty’s valuation tool, the average price of the 1962 Austin Healey 3000S BN7 Roadster is currently $57,200 (R997,585).
The entire auction catalog is available at Creative Rides Collectibles – In-Person and Online Auctions.
The unreserved and reserved auction on December 3 at the Creative Rides Showroom on the corner of Main Road and Posthouse Street in Bryanston, Johannesburg, begins at 11:00 a.m. sharp. The hybrid live and online auction will be broadcast on the Creative Rides website and social media platforms.
The public display of the spectacular cars being auctioned will take place on site between Wednesday 30 November and Friday 2 December.