Classic cars sell well at auction

Classic cars sell well at auction

It seems that classic cars can still make an absolute packet, with an RM Auctions event over in the US seeing $19.6 million (£12.14 million) in sales.

Indeed, it seems as though classic cars could be worth an investment in 2010, as Ian Kelleher, president and chief operating officer of RM Auctions, commented: "The response to this sale, as illustrated in the impressive sell-through rate, is a great reflection of the continuing strength of the market and provides a positive outlook for the year ahead."

Among the sales was a 1963 Aston Martin DB4 GT, which went for $1,001,000 (£620,045), while a restored 1965 Aston Martin DB5 went for $429,000 (£265,733).

These models were sold off as part of The British Are Coming event at the auction on January 21st.

RM Auctions recently announced that a number of rare Ferraris will be going up for sale at its first Monaco sale on May 1st.

Written by Stephen JamesADNFCR-2809-ID-19581502-ADNFCR

Latest news

EU proposes chrome plating ban

Chrome plating as we know it will disappear forever if new European Union regulations come into operation, classic experts have warned.The problem centres around the use of hexavalent chromium which is
Read more...

Price Guide Quarterly

Whether you’re buying, selling or just renewing your insurance, it’s vital to know what’s going on in the classic car market right now. Prices are all over the place with some models
Read more...

Barn finds fetch £1m

A million pounds’ worth of barn find classics went under the hammer at the inaugural Practical Classics Restoration Show at the NEC last weekend.Silverstone Auctions sold 85% of the cars –
Read more...

Prague's new show worth a visit

If you’re planning a European tour in your classic this summer, here’s a good reason to stop off at Prague: the organisers of a new show say more than 1000 cars will turn up.Lubor Kos, founder
Read more...