Martyn Raybould

Martyn Raybould

Silverstone NEC auction breaks records!

Its always a pleasure attending the NEC Classic car Show and in my previous roles with Footman James, Vantage Insurance and now as MD of the SVA, I have attended all three days for ten years. 2019 was a time to re-engage with the many club offices I have met or worked with over that period.. In particular Jowett, JEC, Jaguar Drivers, Club Lotus, Post Vintage Humber and the many others who kindly gave me a warm welcome onto their stands.. Another highlight was meeting the SVA’s newest member Silverstone Auctions, Nick Whale and Louise Joiner, plus the extremely courteous chap on the entrance (Excuse my ignorance in forgetting your name!) who were enthusiastically welcoming..

Situated in Hall 2, on Sunday Silverstone Auctions was creating history.

King Hussein of Jordan owned car

When the above TR2 crossed the block it did so with an estimate of £100-140,000. When the hammer fell 10 minutes later, it was worth £258,750 – a world record, we think, for both the model and the marque. 

A quick glance at its history shows why it commanded such a price: this was an ex-works car which finished 19th at the 1955 Le Mans 24 Hours and which was later owned by the late King Hussein of Jordan. The vendor bought it in a dilapidated state in 1972, then spent the next four decades restoring it to its former glory – and got his reward for all that hard work at the NEC.

A Jaguar XJ220 with just 2000 miles on the clock was another big seller at the show, making £362,813 – bang in the middle of its pre-sale estimate. Bigger still was an Aston Martin DB5 immortalised on a Royal Mail postage stamp, which changed hands for £607,500.

SVA says: Since the crisis of 2009 and a new wave of ‘Investercollector’s’ caught on to the fact that there was substantial investment opportunities in classic and collectible cars, values in some cases have gone ballistic! Nothing lasts for ever as we know and while the phenomenon spread into lower value and lesser spec but still desirable cars, those prices were always going to settle down. Its great though to see those rare and highly collectible cars still demanding high values.. The future as we see it is a little worrying given the increasing power of the Green vote, how long will Parliament ignore the tax opportunity and placating the Greenies by stopping us Lovers of ICE, from driving those glorious V8’s, V12’s modern V10’s and cars like the McLaren in the Title above…

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