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

Two timewarp MG Midgets for sale

Two timewarp MG Midgets with minimal mileages have gone up for sale.A classic specialist in Essex confirmed he is selling an as-new Midget 1500 with less than 2000 miles on the clock, while an unregistered
Read more...

Porsche 924 extravaganza at 'Turbo 35'

35 UK years of the Porsche 924 Turbo will be marked by the spectacular 924 Owners club “Turbo 35” event held at Doningtonon 18th May as part of the clubs National rally.With a healthy membership
Read more...

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...