Bonhams’ Aston Martin Works sale is a highly anticipated annual event that always produces a few surprises as well as focusing the mind of buyers, dealers and industry commentators on the value of classic Astons.
We commented earlier in the year that we expected the gold-rush on Aston Martin values to slow, so we will watch the prices achieved with interest. We asked Neal Garrard of Aston Martin Heritage dealer Nicholas Mee to give us his thoughts. He was quick to point out that many of the estimates looked conservative – “a great way to get bums on seats” – the Aston Martin DB6 Vantage (estimate £80,000 – £120,000/ Sold for £163,900 inc Premium) being a good example. Neal’s pick of the bunch? “At the moment 80’s V8 Vantages are very good news with demand significantly out-stripping supply. Values are up approximately 30-50% over the last three years”.
1970 Aston Martin DBS driven by Roger Moore in The Persuaders – estimate £350,000 – £550,000 (Sold for £533,500 inc premium)
Described as “One of the most famous and desirable cars ever to carry the Aston Martin badge, ‘PPP 6H’ represents a once-in-a-lifetime opportunity to acquire a true automotive icon, which is also of popular cultural significance.” It’s certainly a lot of money for a DBS – over to Neal who said “This is an ambitious estimate. The values of cars with celebrity, film or TV associations are notoriously difficult to predict.” We’d certainly also advise caution when considering buying a “star” car.
Aston Martin DB5 project – estimate £50,000 – £80,000 (Sold for £393,500 inc premium)
This Vantage factory prototype has obviously seen better days, but Neal was confident that this lot offers “reasonable value for money for an enthusiast with the time, patience and budget to undertake a project of this sort.” The restoration will certainly stretch to hundreds of thousands of pounds and also has the potential to be funded once complete. You can find out more about financing a restoration project here.
An amazing result for this car, especially as it was written off as a total loss at some point in its history. The combined total cost of purchase and restoration will exceed the current market values for Aston Martin DB5’s by a considerable margin.
Aston Martin DB4 GT Zagato recreation – estimate £800,000 – £900,000 (Not sold)
This certainly looks like a wonderful recreation of one of Aston and Zagato’s most iconic and beautiful cars and certainly very desirable. Neal again saw this as an ambitious estimate with “clients increasingly focused on originality and provenance”.
We’d concur with Neal and the team at Nicholas Mee. The history and provenance of classic automobiles is absolutely vital when considering a purchase and during ownership. Buyers want straight, original cars and as these cars get more difficult to find prices will continue to rise for the best of them.
Many thanks to Neal Garrard for his expert opinion. Classic and Sports Finance work with carefully selected dealers to ensure our clients purchase the right vehicles.
Images courtesy of Bonhams.