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Driven by Demand
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Following on from the hugely successful inaugural Borderway Classic Car Auction, H&H Motor Auctions held a second on Saturday 22 March 2014. This, the north of England’s only Classic Car Auction, attracted buyers from across the UK.
Going under the hammer at this Carlisle auction were barn finds to the pristine classic vehicles, with the top highlight being an Ferrari 348 selling for £21,500. There were also a classic Sunbeam Alpine up for grabs, which sold for £2,000 and there were some real bargains on the day with a 1990 Bentley Mulsanne S going under the hammer for £6000.
For many people there has never been a better time to treat themselves to a classic car -interest rates are very low and there seems to be a belief that money might as well be enjoyed rather than sat in the bank earning next to nothing.
Graeme Hall, Managing Director, commented: “Our first Borderway Classic Car Auction was a resounding success in 2013, with bids on all but 3 of the 25 entries. Again in 2014 we had a plethora of classic cars and automobile memorabilia up for auction. With the popularity of classic cars on the up and with there being no other auction of its type in Cumbria there continues to a be strong interest.”
In the last ten years classic cars have increased in value by 430%, making them one of the leading ways to invest money outshining both gold and property. Couple this with the UK classic car scene roaring into action, with events such as Goodwood Revival and the Silverstone Classic, there really has been no better time to invest.
The classic cars of the fifties, sixties and seventies that have survived are all full of the new spirit of the post war years, with fresh new designs and confidence in the future, creating excitement that still lingers in the flowing lines, extra comfort, chrome, and improved engineering.
Of course another added advantage of buying a classic car registered before 1974 is that it qualifies for free road tax.
Often people are concerned about the availability of spare parts, however Graeme reassures us that spare parts for retro cars are more widely available than people are aware of. For many retro classics, spare parts are actually still being produced.