Market Latest
May 2007

Market Latest

At the risk of sounding boring, it will come as no surprise to most of you that growth in the classic car market hasn’t yet shown any signs of slowing. There has been much talk recently about high profile private sales including a lovely Alfa Romeo 8C 2.9 Spyder, the most original surviving Ferrari 250 Testa Rossa and arguably the best Aston Martin DB4GT Zagato, all of which achieved prices which have left most casual observers open mouthed. Add to these very big ticket items the levels reached by the most sought after normal ‘production’ Ferraris such as the 250GT SWB California Spyder and 250GT SWB berlinetta and we are witnessing a market which has now exceeded the peaks of 1989 for the very best models. Make no mistake, though, this is a selective market and there are still plenty of indifferent cars which have been stagnant for some time and may well remain so. Here’s an interesting ‘hit parade’ sample of market winners and losers over the past 18 years:

market_report_may07_1962-ferrari-330-tri-lm  market_report_may07_1966-ferrari-dino-206
Left: Third time lucky? 1962 Le Mans winning Ferrari 330TRI headlines RM's Maranello sale.
Right: Petite Ferrari 206SP (Sport Prototipo), another highlight at RM.

 
1989 value
2007 value
Performance (+/-)
Alfa Romeo 8C 2.9 Spyder (road car)
£3,000,000
£6,000,000
+100%
Ferrari 250GT SWB (steel, good)
£800,000
£1,500,000
+87%
 
 
 
 
 
1989 value
2007 value
Performance (+/-)
Porsche 911 Carrera RS 2.7 Touring
£70,000
£120,000
+71%
Aston Martin DB4GT Zagato (street)
£1,000,000
£1,600,000
+60%
Lancia Aurelia B24S Spyder America
£100,000
£160,000
+60%
Lamborghini Miura SV (good)
£220,000
£350,000
+59%
Mercedes-Benz 300SL Gullwing (good)
£220,000
£350,000
+59%
 
 
 
 
 
 
 
 
 
1989 value
2007 value
Performance (+/-)
Rolls-Royce Phantom II Limousine (good)
£35,000
£35,000
0%
Jaguar E-Type V12 Roadster (concours)
£100,000
£80,000
-20%
Ferrari 365GTB/4 Daytona coupe (good)
£300,000
£150,000
-50%
Ferrari F40 (bought on grey market)
£600,000
£180,000
-70%
Ferrari 512BBi (RHD, mint
£220,000
£60,000
-73%

Winners

Top finishers

Mid-field and losers

Although this simple chart doesn’t take into exchange current fluctuations (the Dollar/ Pound exchange has varied enormously since 1989) it does nonetheless highlight some market trends. For one, ‘buy the best you can’ is good advice in the long term although it takes courage to pay over the odds for anything. Just look at how the best 8C Alfas and Ferrari 250GT variants have performed. Secondly, tastes change: for example, look how Ferrari Boxers, so popular in the late 1980s when the design was still fresh, have fallen from grace whereas Miuras, for years considered the car of choice for