Classic cars sell for big bucks as Kiwi car industry rebounds from Covid-19
Search Driven for vehicles for sale
To say that 2020 has been rough for the motoring world is a grand understatement. But, those looking carefully should be able to see light at the end of the tunnel.
Over the weekend, Webb's Auctions held its Collectors' Cars, Motorcycles & Automoilia auction. We detailed some of the highlights of the auction earlier this month, which included a lovely 1973 Porsche 911T, a 1936 Rolls-Royce 20/25 Hardtop, and more.
The auction appears to have been a success, with 75 per cent of the items up for auction being sold, and well over half of the vehicles and memorabilia selling for above minimum estimate — in some cases much higher.
The auction's greatest success was the aforementioned 911T, with its unique semi-automatic transmission and 'last of the lightweights' status. It was estimated to sell for between $100,000–$125,000, but when the gavel finally dropped pricing finished at $175,500.
It wound up subsequently eclipsing the car most expected to sell for the highest price; the 1936 Rolls. That still sold for a respectable $138,000, having been estimated to go for between $120,000–$150,000.
There were a few other neat stories among the sellers, too. The vintage 1932 Panther Model 50 Motorcycle & Sidecar sold for $17,250 — well over the $10,000–$14,000 estimate. But the biggest surprise of the day, arguably, was the sale of the more modern 1996 Rolls-Royce Silver Spur.
The 6.75-litre V8 luxury car was the last of the Silver Spur breed before being replaced by the Silver Seraph at the tail end of the 1990s.
"Delivered new by Malayan Motors, Singapore on 3 January 1996 and used as transport for the Chairman of the Bank of Singapore the car was subsequently imported into New Zealand in June 2005, becoming part of the Roy Savage Collection," said the auction house.
"Current mileage is a mere 26,370 kilometres. The red pearl exterior contrasts beautifully the sandstone hide interior delivering a Rolls-Royce that even by their high standard is in a class of its own."
The Red Pearl Rolls-Royce was expected to sell for $42,000–$46,000, but ended up almost doubling that with a final price of $71,875.
For a car auction at this level to resume play on the front foot with a great sales ratio despite the nation's ongoing battle with Covid-19 is a positive sign for the whole industry. Hopefully there's more of it to come.