Probably the most remarkable feature of Silverstone Auctions’ 2015 NEC  sale was that it returned near identical results to the 2014 sale in terms of sell through rates, average values and lots sold in, over and below estimate which reflects the steady performance of the classic car market in general. There has been a lot of (largely successful) hype around some of the results but in reality prices were steady rather than ground-breaking for the most part.

What did well?

Affordable Classics 

As the market for £250,000+ vehicles has settled buyers are looking to the sub-£100,000 price bracket looking for bargains and investment potential and this is being borne out in the sub £50k sector in particular.Individuality , rarity and low mileage are the key factors in determining desirability.

Ford RS models seem highly priced to us but there is no doubt that they have a significant following as a cult performance car and it is perhaps the sheer number of followers that ensure great auction results.

Ford Sierra Cosworth RS500 – sold for £90,000 inc 12.5% buyers premium

Ford Capri RS3100 – sold for £48,375 inc 12.5% buyers premium

Ford Escort RS Turbo – sold for £60,188 inc 12.5% buyers premium

Ford Sierra Sapphire RS Cosworth 4×4 – sold for £35,438 inc 12.5% buyers premium

Limited production performance cars also performed well.

Citroen SM Maserati – sold for £51,188 inc 12.5% buyers premium. Good examples are available in the mid £30’s.

Honda NSX – sold for £53,438 inc 12.5% buyers premium

Renault 5 Turbo 1 – sold for £61,875 inc 12.5% buyers premium

Also notable were a Jenson Interceptor III convertible (£72,563)  and a UK RHD Ferrari 512 which sold for way over a seriously low estimate of £110-130,000 at £185,625.

RHD, low mileage cars with good provenance in in great condition did well – no surprise there.

What didn’t do so well?

High mileage Ferraris really showed that they just don’t compare in price to the low mileage variety and we dare say that there will be a couple of buyers who will have bought some decent drivers’ cars at sensible money.

Many of the Ferraris on offer either sold below estimate or not at all with a couple of exceptions including a low mileage LHD 355 and judging by the prices of the 355s on display at the NEC sellers believe they still have some way to go in price although we have yet to be convinced.

The Alfa Montreal failed to sell and it may just be that we are seeing the chances of these cars fulfilling the price potential that some have bestowed on them slipping away. Did we really love them back in the day? The Jaguar XJ220 sold well but below estimate on the hammer. We would also question how much price momentum classic Range Rovers are still carrying.

Patterns and trends

Quirky, fast and fun. More modern, affordable performance cars are coming to the fore. If you had recently successfully made some money on a V12 Ferrari or a 6-cylinder Aston, where would you be dabbling right now?

Silverstone Auctions historic performance remains very steady (see graph below)

The numbers

Click here for full results with estimates and heatmap.

Silverstone Auctions NEC Classic Motor Show results 2015 – analysis

Images courtesy of Silverstone Auctions.