Wednesday 9 November 2011

£1.45m of stunning cars sold in Silverstone auction

An exquisite mix of classic cars, modern sports cars and championship winning competition cars were sold for a premium inclusive total of £1,444,440 at Silverstone on Friday with a sale rate of 65%.

The Walter Hayes Sale, organised by Silverstone Auctions, was the second classic car sale organised by the company and was held in Silverstone circuit's new £27m 'Wing' building.

65 cars were entered into the auction and represented some of the finest and rarest models available, ensuring high levels of interest from around the world and some fiercely contested bidding.

"Silverstone is rightly recognised as one of the most famous motorsport venues in the world so it was only fitting that we were able to offer such an exceptional collection of automobiles for sale," comments Nick Whale, managing director, Silverstone Auctions. "And with such an appealing and exquisite collection of cars, it comes as little surprise that bidding was very competitive on a number of lots."

One of the highlights of the auction and the most expensive lot sold was a rare 1969 AC 428 Coupe manual (lot 136). Believed to be one of only six manual examples manufactured, the car fetched £124,000, significantly more than its guide book estimate of between £85,000 - £100,000.

Another star lot which fell under the hammer was a 1974 Monica (lot 123). This car was being sold directly from the estate of the late Chris Lawrence, the project's chief engineer, and fetched an impressive £55,000.
A number of rare Jaguar's were also among the most valuable and sought after cars in the auction. A right hand drive 1958 Jaguar XK 150 S 3.4 Roadster (lot 128), one of only nine home market examples manufactured that year, was sold for £96,000. Lot 137, a stunning 1952 Jaguar XK120 Fixhead Coupe fetched £81,400. And a 1961 Jaguar Mk IX (lot 144) sold for £35,700, more than £10,000 higher than its guide book estimate.

"The Walter Hayes Sale was a fantastic conclusion to our first year of auctions," adds Nick Whale. "We still have a number of deals pending but the figures already prove to vendors that we can genuinely help them achieve the very best sale of their car. But equally, we were delighted with the sheer quality and diversity of the collection that we managed to bring together in Northamptonshire. With two classic car sales now under our belt, we look forward to pressing on in 2012, broadening our horizons and continuing to deliver some of the finest cars in the market."

Silverstone Auctions' next sale, the Race Retro Classic Car Sale, will be held on Saturday 25th February 2012 at Stoneleigh Park in Warwickshire. For further information about the sale or to submit an entry, visit www.silverstoneauctions.com or call 01926 691141.