Despite recent market concerns, SIlverstone Auctions enjoyed a 63% sales rate during its inaugural Autosport International sale
Silverstone Auctions kicked off the 2019 classic car auction season with a bang, achieving a 63% sales rate for the inaugural Autosport International sale at Birmingham’s NEC on Saturday, January 12.
A total of 36 from 57 classic and competition cars offered were successfully sold, generating a combined sales total exceeding £2.6 million. These results will install confidence in a market currently lacking certainty in light of the economic climate and ongoing uncertainty over Brexit.
The results were particularly impressive when considering that ten lots were valued in excess of £100,000, with a 1970 Ferrari 365 GT 2+2 selling for £200,250 including premium – the most valuable lot of the day.
A further highlight of the auction was a 1990 AC Cobra Mk IV 'Lightweight', one of only 21 genuine, alloy-bodied, lightweight examples in right-hand drive. The subject of an extended bidding war between interested parties present in the room and telephone bidders, the rare V8 muscle car sold for £139,500; almost £50,000 over its lower estimate.
Also exceeding its sale estimate was an elegant 1935 Mercedes-Benz (W18) Type 290 2-door Cabriolet 'B', particularly rare in right-hand drive and presented in restored condition. Selling for £121,500, the final amount was more than double its lower estimate.
'We’re delighted with the results of our first ever sale at Autosport International as the new official auction partner,' explained Lionel Abbott, Silverstone Auctions' classic car specialist.
'A new sale comes with an element of the unknown, but the turn out on the day combined with our global audience of online bidders has maintained the strong results we achieved in 2018, generating good returns for our vendors.'
The Autosport International sale also found several iconic competition cars hammered away to new owners, including one of three 1966 Ford Cortina Lotus ex-works cars, which boasted an incredible race history.
Driven by motorsport legends including Jim Clark, Peter Arundell, Jacky Ickx, Sir John Whitmore and Graham Hill in period, the rare fast Ford sold for £168,750 to a telephone bidder.
Another of the rare classics which performed well on sale day was a ‘rotisserie’ restored 1969 Ford Cortina Lotus (MkII), one of only three factory finished in Fern Green, which sold over estimate to a buyer in the room for £40,275.
To see all the results from the Autosport International Sale click here.