INVESTING IN CARS
Price records set at Montecasino classic car auction
Four cars were sold for R2m or more in the two-day Johannesburg sale
A 1964 Jaguar E-Type sold for R2,375,000 at this past weekend’s Creative Rides classic-car auction, the highest price achieved at the two-day Montecasino event.
The E-Type 3.8 Series 1 was a concours-condition stunner painted mercury silver, with an oxblood leather interior.
While the British beauty achieved the highest price of the more than 200 cars that went under the hammer, it was nearly upstaged by a silver 2005 BMW M3 CSL that was knocked down for R2,350,000. The ultra-rare E46 CSL was the lightweight, performance-boosted version of the M3, with only 1,383 units produced globally and less than 100 brought into the country in 2005.
The event, claimed to be SA’s largest ever classic-car auction, saw cars, trucks and motorcycles worth more than R100m going under the hammer. About 2,500 people turned out to bid, with a live-stream audience at the weekend of 26,000 from across the country and the world.
Four buyers each spent R2m or more, setting a new SA record for the number of sales in this price bracket in a single auction, said Creative Rides CEO Kevin Derrick.
A 1963 Corvette C2 Split Window coupé sold for R2,300,000 and a 2007 Porsche GT3 RS went for R2m.
An unexpected star of the auction was a 1991 Opel Kadett Superboss which fetched R555,000, a new national auction record for this particular vehicle.
“The Superboss was a rare homologation built specifically to take on the BMW 325is that dominated Group N racing at the time, and roughly 500 of each were built here for the local market.
“This hammer-fall record offers yet another example of South African and, of late, international collectors’ passion for limited-edition, home-grown cars, which was evident in the ferocious battle for the Superboss,” says Derrick.
Creative Rides broke its SA auction record of R900,000, set in December for a BMW 325iS, colloquially known as the Gusheshe.
“This weekend we knocked down a numbers-matching 1991 BMW 325iS Evo2 for R950,000, demonstrating that collector appetite for these cult classics remains strong. Another 325iS, this one supercharged, fetched R900,000 on Saturday.
“Likewise, the hammer fall of R800,000 for a V8 Ford Capri Perana was R85,000 higher than the price achieved at auction in March.”
Muscle cars and BMWs shone at the auction, says Derrick.
Among the BMWs, hotly contested lots included a 2012 BMW 1M (R830,000) and 2013 BMW M3 Frozen E92 (R830,000).
Muscle-car highlights included R1.4m for a 1965 Ford Mustang GT350.
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