ITALIAN HORSEPOWER HEADLINES MEGA COLLECTOR CAR AUCTION IGNITING SOUTH AFRICA IN JULY
Ferrari, Lancia, Alfa, Maserati, Porsche, MG, Mercedes, Rolls Royce, Bentley, Mustang & Corvette Classics Feature in Epic 115-Lot Automotive Auction Extravaganza in Johannesburg
THE financial capital of South Africa plays host next month to one of the most spectacular multi-million-dollar classic car auction events on the 2022 global calendar, when more than 115 exclusive models will go under the hammer amidst a booming international collector market.
The July 2 unreserved and reserved sale, presented by Creative Rides Classic and Collectables Auctions, has been dubbed The Italian Job (after the classic 1969 Michael Caine movie) by insiders because of the astonishing collection of rare, sought-after Italian automobiles on the block.
Creative Rides CEO Kevin Derrick says just the process of appraising the more than 30 Italian designer vehicles featured in this auction has been “a once-in-a-lifetime experience, so bidders should prepare to have their minds blown”.
The Italian Job
“One spectacular example,” says Derrick, “is a red 1968 Ferrari 365 GT 2+2 that was designed and constructed by Pininfarina. With its low-slung fastback design, it was the first Ferrari to be equipped with standard power steering and power brakes.
“The 4.4-litre single-overhead-camshaft V-12 engine was fitted with three Weber carburettors, but it was the interior that made this model an ultra-luxurious performance grand tourer. The four-seater boasted plush leather, veneered panels, the last wood-rimmed steering wheel in a production Ferrari, air conditioning, a stereo and standard power windows.”
Conceptcarz.com’s valuation page notes two international sales of this highly sought-after car in 2022, the latest fetching $208 012 (R3.18 million).
The 1968 Ferrari 365 GT 2+2 is one of nine Ferraris under the hammer in the Creative Rides auction.
Derrick says for aficionados of more modern supercars, the red 1998 Ferrari 550 Maranello lot would be an inspired choice.
“The 550 Maranello design was initially launched in 1996 and at the time became the first front-engine mounted two-seater Ferrari model to be released in 23 years. With a top speed of 200mph (322kph) it was and remains spectacular in both looks and performance.”
Conceptcarz.com’s valuation page notes one international sale of a 1998 Ferrari 550 Maranello in 2021, at a price of $159 500 (R2.44m).
But if history is anything to go by, one of the most hotly contested lots will be the 1984 Alfa GTV 6 3L, one of 212 ever built according to Derrick.
“We had one GTV 6 3L on offer in our Legends & Classics auction in December last year and we knew there was interest in the car, but even we were surprised by the ferocity of the international bidding war that erupted when the auction started.
“The opening bid was set at R200 000 and just a couple of minutes later the hammer fell at R1.1 million.
“I never thought I’d see another Alfa GTV 6 3L on auction in my lifetime, so it’s with both pride and delight that Creative Rides is offering the international collector car community another opportunity to own this automotive legend, which has undergone a complete nuts and bolts restoration.”
Other Italian models on Derrick’s “hot list” include:
· A 1994 Ferrari 348 Spider, featuring a Rosso Corsa exterior and nero leather interior with nero carpets. It includes the original service book, handbook and pouch. The roof, bodywork and interior are in good condition. Hagerty.com notes the most recent sale last month of this exceptionally collectable model at $99 000 (R1.52m); and
· A 1982 Maserati Merak – an automotive sculpture designed by Giorgetto Giugiaro. A citation on the www.maserati-alfieri.co.uk website states that according to the “Catalogue Raisonné 1926-1990” by Gianni Cancellieri, only 787 Maserati Merak SS models were built.
Other highly collectible cars in the sale include
Derrick says the July auction is also a must for enthusiasts looking to add touches of German and UK automotive design sophistication to their collections.
“German motor manufacturers are generously represented at this auction. From ultra-luxury sports cars to more modest models, there’ll be something for everyone and cars for all budgets.
“It’s also among these lots that novice collectors can start looking for their first investment cars and our expert team will be on hand to offer advice throughout the sale.
“Among the German models look out for Porsches, Mercedes, BMWs, VWs and even Opels.”
Derrick says collectors of UK classics have a wide selection from which to choose as well.
“If you’re after sporty models, bid on the MGs or an E-Type Jag, but if you’re looking for a classic car, then it has to be a Rolls Royce or a Bentley.”
Derrick says no South African classic car auction would be complete without some quality V8 grunt on the block.
“There’s a massive local collector market for American muscle cars, which is growing in popularity every year. Ensuring that these collectors have a steady supply of quality auction stock is important for investment collectors because it keeps the trade alive.
“In the July auction more than 30 American-manufactured vehicles will go under the hammer. Collectors can look forward to bidding on Mustangs, Camaros, Dodge Chargers and Vipers, Corvettes and many others.”
Road to Riches
Derrick notes that for many classic car enthusiasts, investment value is a key motivation for collecting.
“The global classic car market is growing, as is the value of collectable cars. It slowed a little at the height of the pandemic, but not even Covid could drive the market into negative territory.
“As with all investments you need to learn about your chosen commodity, but you don’t need a lot of seed capital. The collector car market will continue to strengthen, so investors entering the market now can plan a long-term growth strategy.”
Derrick’s view is supported by Hagerty.com’s 2021 annual collector car market trends analysis, which predicts long-term growth in the sector “largely because of who is driving the growth”.
The trends report notes: “Specifically, we continue to see more and more enthusiasts born after 1964 joining the fray. Gen-Xers, millennials, and Gen-Zers now constitute the majority of people calling Hagerty for quotes on collector car insurance, and that majority continues to grow stronger. Much of this shift is explained by enthusiasts in their 40s and 50s entering their peak earning years, but even twentysomethings are making their presence felt.”
Similar sentiment comes from the Historic Automobile Group International (HAGI) that monitors the collector car market with indices used by Dow Jones and Bloomberg, among others. Its broadest, the HAGI Top Index, which tracks the values of collectible cars such as Porsche, Ferrari, Bugatti and Alfa Romeo, reported a mammoth increase of 264.49% in this asset class between the index’s launch in December 2008 and the end of last year.
Derrick says the July 2 unreserved and reserved auction at Montecasino in Johannesburg starts at 11am sharp (Central African Time). The hybrid live and online auction will streamed across Creative Rides’ website and social media platforms.
Visit the Creative Rides Auction Website to view the complete auction catalogue and contact Creative Rides at firstname.lastname@example.org for information on remote bidding.
SVA Says: Creative Rides in South Africa is just one of our increasing number of international companies with whom we are delighted to work. Cars in SA are Right Hand Drive vehicles and with a fantastic friendly dry climate, they make an excellent and rare chance to import into the UK. If you would like to find out more and or be introduced to Creative Rides, this is a free part of SVA trade membership.