Are These Modern Classics Going To Rise In Value?

We have tended to focus on older classic cars when reporting on vehicles that have been sold at auction but, on this occasion, we thought we would talk about some modern classic vehicles that, according to information provided by Parkers in conjunction with the Modern Classics magazine, may rise in value over the next few years. Obviously, nobody has a crystal ball and, therefore, cannot be certain what cars will go up in value so do make sure that you do your own due diligence if you are considering buying a modern classic car as an investment.

How about an Alfa Romeo Brera Prodrive S that can presently be bought for between £10,000 to £15,000 but it is being forecast may fetch as much as £20,000 in five years time. There are two versions – the 2.2 litre one and the 3.2 litre one with the later having a V6 engine. As only 500 of the later were built, it is felt that it is the preferred option.

You could consider a manual version of the BMW 3 Series M3 (E92) with its breathtaking acceleration and sporty looks. At the moment, you could pay between £20,000 to £25,000 but it is being forecast that in 2023 it could fetch a price in the region of £30,000.

If you have a little bit more in your savings account then you could consider buying a Porsche 911 GT3 (996). This is a nippy sports car and looks fantastic. Currently, they are selling for between £70,000 to £100,000 but by 2023 it is being forecast that they could be worth £110,000 plus.

At the other end of the scale how about a hot hatchback – the Ford Focus ST170. It can be bought for between £1,000 to £5,000 but come 2023 it may be worth in the region of £10,000.

A number of other modern classics that may increase in value are mentioned on Parkers website.

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Ferrari 250 GTO Auctioned For Record Price

Classic car enthusiasts will be interested to read that another Ferrari has been sold at auction for a world record price. It was a 1962 Ferrari 250 GTO that was sold for the huge sum of $48,405,000 at RM Sotheby’s, Monterey auction in California, USA a few days ago. That is in excess of $10 million more than the previous record for such a make and model of car.

As you may be aware, the Ferrari 250 GTO is an extremely rare vehicle with only 36 being built. Needless to say, these classic sports cars were manufactured to an exacting standard and this one has the wonderful red bodywork. Apparently, there were three people bidding for the car until it was sold to an anonymous buyer.

This delightful classic vehicle had been in the same ownership since around 2000 until it was sold a few days ago. The car has quite a racing pedigree having taken part in a number of races over the years and was actively driven by the previous owner.

Another interesting sale that took part at the above auction was a 1963 Aston Martin DP215 Grand Touring Competition Prototype that was sold for $21,455,000. This particular car competed in the 1963 Le Mans race and became the first car to exceed a speed of 300 kph at the Le Mans event.

There were many other fantastic vehicles sold at the above auction details of which you can easily find on RM Sotheby’s website that we are sure you will find of interest.

It would be interesting to find out how much it would cost to insure the above classic Ferrari 250 GTO. In this respect, if you are the proud owner of a classic vehicle, why not get in touch with us and we will be pleased to help arrange for you to receive a no-obligation classic car quotation for your perusal.

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Eye-catching Classic Cars To Be Auctioned

Those of you who are classic car enthusiasts and are considering buying one may wish to get along to Bonhams The Beaulieu Sale Collectors’ Motor Cars & Motorcycles and Automobillia that takes place on the 1st September 2018 at the National Motor Museum in Beaulieu. If you look on their website, you will find that there is an extensive range of vehicles being auctioned some of which we mention below.

For instance, how about a 1972 Jaguar E-Type Series 3 V12 Roadster. It is left hand drive and has a 5.3 litre engine producing 272 bhp capable of taking this delightful classic sports car to a top speed of over 140 mph. It has an estimated price of £80,000 to £90,000.

If you have a little more in your bank account then you may want to take a look at the 1964 Jaguar E-Type ‘Series 1’ 3.8-Litre Roadster. Another left hand drive vehicle that has a 265 bhp engine. It has a soft top enabling you to maximize the sunny weather we have been seeing lately. This has an estimated price of £120,000 to £160,000.

You may need to break into your savings account if you fancy owning a 1924 Bentley 3-Litre ‘Speed Model’ Tourer. This wonderful classic open topped saloon car has been in the same ownership since 1966 and was refurbished as recently as 2016 and the engine was rebuilt only last year. This car has an estimated price of £250,000 to £300,000.

A little more affordable for some classic car enthusiast may be a 1964 Morgan Plus 4 Drophead Coupé that went through a restoration program recently between 2015 and 2017. This one has a 2,138cc engine and it is a nippy soft-topped sports car that looks fantastic.

How about this 1937 Opel Kadett Coupé that looks absolutely lovely. Its engine has been rebuilt and has an estimated price of £4,000 to £6,000.

Why not take a look at this 1958 Morris Minor 1,275cc Convertible. Apparently, it has been serviced on a regular basis and was partly restored around 2010. The hood was renewed only 4 years ago. This delightful looking classic car has an estimated price of £5,000 to £6,000.

There are numerous other classic cars for sale at the above auction with a vast range of prices so there may be something that appeals to you. Don’t forget to make sure that, if you do buy one, that suitable classic car insurance is arranged to provide you with peace of mind. In that respect, why not get in touch with us and we can arrange for you to receive a competitive, no obligation quotation.

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Concours Of Elegance 2018 – Not To Be Missed

If you have an interest in classic cars then you may wish to try to get along to the Concours Of Elegance that takes place at Hampton Court Palace between 31st August 2018 and 2 September 2018. What a wonderful location to hold such an event and let us hope that the weather is as good as we have been seeing here in the UK in recent weeks.

Over 300 vehicles are hoping to be on show, of which 60 are believed to be some of the rarest cars on the planet. Many of them have never been on show in the UK in the past.

On the opening day, there will be 60 rare cars that make a grand entrance so this will be a wonderful opportunity for all you classic car enthusiasts to see such vehicles being driven rather than just in a stationery position.

On the Saturday one of the things that takes place is the Jaguar Trophy when around 90 Jaguars will be on display hoping to win the prestigious trophy. Also on the day, there will be a number of well-known car club members bringing along their vehicles to Hampton Court. This will include not only some luxurious cars but also some performance cars.

On the Sunday there will also be quite a lot of things taking place including the Bentley Trophy when 90 Bentleys will be on display hoping to win this prestigious award. Once again, just as on the Saturday, there will be a display of cars from other car clubs. At the end of the show, the 60 rare cars will drive off – again, something not to be missed.

Some of the cars expected to be on show include a 1903 Panhard et Levassor, 1920 Ballot 3/8 LC, 1929 Rolls-Royce Phantom 1 Brewster Rivera Town Car, 1935 Tatra 77, 1956 Bentley S1 Continental Coupe by Park Ward, 1962 Ferrari 250 SWB Berlinetta Scagkietti 3367GT, 1971 Lamborghini Miura P400S, 1992 Jaguar XJ 220 and a 2018 Ferrari GTC4 Lusso “Tailor Made” Arancia.

So, if you are a fan of automobiles, why not get yourself along to Hampton Court Palace and enjoy one or more days admiring some of the rarest cars in the world.

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Classic Aston Martin Sells For Record £10 million

A rare classic 1961 Aston Martin “MP209” DB4GT Zagato Grand Touring Two-Seat Coupe driven by a famous racing driver has recently been sold by Bonhams for over £10 million. The sale price of £10, 081,500 was a record for a British car sold in Europe at an auction.

The coupe was driven by the legendary Jim Clark who was Formula 1 World Champion on more than one occasion. He raced the car at both the RAC Tourist Trophy at Goodwood and also at the Paris 1,000 Kilometres. Unfortunately, in the first mentioned race the vehicle crashed and in the second the car had a mechanical problem.

Apparently, there were only nineteen of the Aston Martin DB4GT Zagatos built so it is extremely rare but only three of them were of the “MP209” type. This is no doubt one of the reasons why it achieved a record sale price at the auction.

The car has been in the same family ownership for 47 years and has been looked after very well. It appeared in a number of other races until 1991. Since then it has attended a number of shows.

Such classic cars are no doubt very expensive to insure but presumably the new owner will want to protect his or her investment. There are many insurers who provide classic car insurance so it is important that one is chosen that will provide an excellent level of cover for an affordable premium. There are many ways that this type of insurance can be arranged such as by going online and using the services of one or more price comparison websites or picking up the phone to a broker who specialises in insuring classic cars. There are also various classic car clubs that have arrangements with insurers for their makes of car who you could get in touch with.

We have seen a fall in car insurance premiums in recent months. So, perhaps it may be possible to arrange cover on this classic 1961 Aston Martin “MP209” DB4GT Zagato car for less than may have needed to be paid say a year ago.

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Porsche 959 Paris-Dakar Being Auctioned

For those of you who are Porsche enthusiasts then you will be interested to read that a very rare Porsche 959 Paris-Dakar classic sports car is to be auctioned later this year and it is expected to command a very high price.

The auction by RM Sotheby’s is set to take place on the 27th October 2018 at the Porsche Experience Centre in Atlanta. It is expected that in the region of 70 highly collectable Porsche cars are to be available to buy.

The classic vehicle in question actually took part in the 1985 Paris-Dakar race but unfortunately, it did not win as it had to retire due to an oil line failure although the driver of the car who was called Rene Metge won that same race in 1981, 1984 and 1986. The race was over a distance of 14,000 kms. There were 552 cars taking part in the race but only 146 actually completed it.

It is interesting that there were only 6 of these cars manufactured. This is the first time that this make and model of car has been made available for sale at a public auction and has an estimated sale price of $3,000,000 to $3,400,000.

Also being auctioned at the above event is a Porsche 959 Prototype. This has an estimated sale price of $1,300,000 to $1,600,000.

It is great to hear about the above event although for those classic Porsche car enthusiasts here in the UK it is unfortunate that you would need to travel such a huge distance to attend the auction. However, if you really are keen then why not take a look on the website of RM Sotheby’s for more information. Who knows when such an opportunity may present itself again in the future to be able to purchase such a classic vehicle? If you are interested in buying such a vehicle then we wish you good fortune at the auction.

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Ferrari 250 GTO Bought For $70 Million

It probably does not come as a surprise to many owners of classic cars to hear that the world record has recently been broken by a considerable sum for a car following the private sale of a 1963 Ferrari 250 GTO to an American business man. The person involved is thought to have paid $70 million for this extremely rare vehicle. Converting that sum into pounds sterling means that in the region of £52 million has been spent.

Apparently, only 39 of these wonderful classic sports cars were built and this one has taken part in a number of races over a period of time.

The sale price achieved far exceeds the previous world record that was believed to be for around £40 million. One cannot help but wander how much the next Ferrari 250 GTO goes for when one eventually becomes available for sale. At what point are we going to see such a vehicle fetch $100 million?

It is no secret that the Ferrari 250 GTO is highly sought after and has been for many years. This make and model of car does not come on the market very often and when one does it no doubt attracts a great deal of attention and commands a premium price.

Ferrari has always been renowned for building fantastic sports and racing cars to this day and it will be interesting to see if one or two of the cars that are being built at the moment will eventually become desirable classic motor vehicles in 25 years time. It will not be a surprise if some particular Ferrari models are bought by collectors as investments. However, it should be borne in mind that just because classic Ferraris have proved to be a very good financial investment for some in the past does not mean to say that this will be the case in the future.

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Does Your Classic Car Need An MOT?

If you are the proud owner of a classic car then you are probably used to making sure it has its annual MOT check the cost of which, like most people, you could probably do without. Well, you may be interested and pleased to read that the regulations in this respect have recently been revised and it may mean that you no longer need to put your cherished vehicle through such a test.

If your classic or vintage car was built on or before the 31st December 2017 then you will not now be required to have an MOT carried out on it as long as there has been no “substantial changes” to the car during the last 30 years. Such changes would be when the engine, chassis, axles or body have been altered resulting in this affecting how the car works.

However you are still responsible for making sure that the car is roadworthy and if it is not then you could be faced with a fine of as much as £2,500 plus you could also receive 3 points on your driving license.

Presumably, one of the reasons why this decision has been made is that it is believed that the majority of classic car owners pride themselves in making sure that their vehicle is maintained to a very high standard. Therefore, it may be less likely to be involved in a road traffic accident due to some malfunction. Of course, it may be that a small number of classic car owners do not look after their vehicles but no doubt those people involved in making the decision about MOTs not being needed on most classic cars over 40 years of age have taken this into account as part of their decision making process. Do bear in mind that there have been no changes in respect of the need in the majority of cases to make sure that you have suitable classic car insurance in place.

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Stunning Classic Cars Due At The London Concours 2018 Event

If you are a classic car enthusiast then you may wish to get along to the London Concours event that is due to take place on the 7/8th June 2018 in the gardens of the Honourable Artillery Company. The show is putting on display in excess of 80 vehicles that are renowned for their speed. You are likely to see some delightful vehicles a number of them we list below but you can visit the londonconcours.co.uk website for details on many other vehicles.

When it comes to speed one of the manufacturers you tend to think of in this bracket are Ferraris. There are a number of classic Ferraris due to be on display including a Ferrari 250 GT SWB that is powered by a V12 engine ensuring rapid acceleration from 0 to 60mph. A Ferrari 365 GTB/4 Daytona looks the part and is capable of reaching a top speed of around 174 mph. How about a more recently built car – a Ferrari F50 powered by a 4.7 litre V12 engine capable of rocketing from 0 to 60 mph in under 4 seconds as it cruises to a top speed of 202 mph.

Going back in time you could cast your eyes over the “Beast of Turin” that is a Fiat S76 with a 28.5 litre engine producing 300 bhp that, in 1911, managed to get to a speed of 116 mph – an incredible achievement for a car built in the early 20th century.
This particular vehicle has spent 10 years being restored. You can also see the likes of a 1935 Lagonda M35R and a 1924 Bentley 4.5 litre.

If you have an interest in nippy classic cars or indeed some modern ones it sounds like it could be a very interesting show so why not think about getting along to it. You can find details of admission prices on the above website. Enjoy your visit to the above show.

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Lower Car Insurance Premiums For Some

Classic car enthusiasts may be interested to read that, according to the Confused.com Car Insurance Price Index, the average cost of fully comprehensive car insurance for covering a standard type of car has fallen in the first quarter of 2018 in comparison to the same quarter of 2017.

On average, such premiums dropped by 2% with this equating, in monetary terms to a reduction of £13 per annum when comparing the two quarters. The average cost of such cover was £768.

One would hope that such a reduction is not just for insuring normal cars but that the cost of some classic car insurance policies would also come down so that classic car owners benefit in a financial way. For a long time, car insurance premiums have been gradually moving upwards so it is pleasing to see a reverse in this trend. Let us all hope that this continues to happen over the next few months and beyond.

The motorist needs some good news especially as fuel costs do not appear to be coming down. There is such a huge fluctuation in prices at the petrol pumps.

If you are the owner of a classic or vintage car then why not get in touch and let us help you arrange to receive one or more competitive quotes for classic car insurance from one or more insurers from an extensive panel of insurers. The classic car insurance market is so competitive that it may pay you to shop around by using the likes of a price comparison website.

When obtaining a quote it is important that you obtain the most suitable cover to meet your needs whether that is full classic car insurance or laid up cover. So, if you are intending to renovate your classic car in your garage and not take it out on the public road system, laid up cover may meet your requirements.

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