Numerous auction house results continue to support the notion classic cars are a better investment than property.
While others show there are bargains to be found in rare, special or unusual vehicles.
Holden classics continue to pull arguably the strongest values, with retro Fords and Euro exotica in hot pursuit.
A Rosso Corsa red 1994 Ferrari 348 GTB is for auction with GraysOnline with shy of 35,000km on the clock, a $9 bid at time of publication, and five days remaining.
Shannons’ autumn auctions have had some sought-after cars go for decent figures on both Sydney and Melbourne sites this past month.
In Sydney this week, a ‘barn find’ 1951 Jaguar XK120 Roadster, kept in dry-storage for 30 years, sold for $128,000.
A 1983 Holden HDT VH Commodore SS Group 3 made $65,000, a 1971 LC Torana GTR managed $60,000, and a hard-to-miss ‘Barbados Green’ 1974 Holden HQ Monaro GTS went for $55,500.
In Melbourne, the 1980 Holden HDT Brock VC Commodore sold for $60,000. A more modest but clearly-desirable 4.2-litre V8-engined 1977 Holden HZ Premier fetched $38,000.
However, the clear heroes were titans of the Aussie classic market, such as a 1974 XB GT Coupe Ford Falcon which commanded $121,000, a 1972 Chrysler VH E55 Charger in ultra-rare 770SE edition which brought $115,000 from its new caretaker, and a 1976 LX Torana SS with the iconic 5.0-litre V8 beneath its black, scooped bonnet.
Americana was also in force with a 1957 Cadillac Eldorado Brougham in pillarless right-hand drive earning its seller $109,000, a 1970 Chrysler 300 Hurst managed a respectable $61,000, and a 1968 Dodge Charger R/T 440 in left-hand drive reached $72,000.
Even a replica Ferrari 365 GTS Daytona Spyder brought $70,000 for its former owner. An iconic 1999 Nissan
Skyline R34 GTR V-Spec, which has emotional ties with Fast and the Furious star Paul Walker, sold for a massive $90,000.
Shannons national auctions manager Christophe Bouribon tells AutoTalk the value in chrome bumpers has grown substantially.
“Group A cars go absolutely crazy at auction,” he says, “The market in general is at it’s most buoyant right now and the closure of Holden manufacturing has helped that.”
“Our results in the last couple of years we average a 90-95% clearance rate at every auction, which is a reflection that there’s plenty of money there for these cars,” Bouribon explains.
He agrees that in our digital age of disposable tech, a love of the old is a factor in a significant number of raised hands and enthusiastic bidding.
“I think there is a bit of nostalgia there; I do wonder when and where the top of the market is,” he says.
“You don’t hear about things slowing down, even in property – sure some areas take a small hit – but blue chip areas are still demanding cars. Perhaps their mindset has changed around investment.”
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