“Bidders fighting for this car weren’t shy about their objective. The gauntlet was thrown down with the opening bid of R2m, and others followed in quick succession in increments of R250,000.
“At the R4m mark only two bidders were still in the battle; one in Johannesburg and the other in the UK. Both fought valiantly, but in the end, the English bidder’s knock-out R100,000 raise clinched the deal at R4.4m.”
Derrick says this weekend’s sale of the Aston Martin DB6 Mk2 Vantage graphically illustrates why international classic car collectors should be queuing up for South African auctions.
“According to Hagerty’s internationally acknowledged valuation tool, the current average value of the 1969 model in fair condition is $443,000 (R7.78m); an increase of approximately $50,000 (R878,000) in three years.
“This weekend, the forex strength of a British buyer bidding in rands secured him a DB6 at a global market snip of around $250,000.”
Derrick says one of the most hotly contested lots of the day was the South African collector cult classic, a 1991 BMW E30 325iS EVO2 that sold for R900,000.
“Built exclusively for the South African market, BMW only ever produced some 500 units of the E30 325iS, known countrywide as the ‘Gusheshe’.
“You simply don’t see these iconic Beemers around anymore, and having one on auction as we did on Saturday was a dream come true.
“There were bidders by the dozen for the Gusheshe, but I’m delighted that this truly local classic will be remaining in the country. We hope the new owner in KZN will enjoy many years of motoring pleasure in his stellar BMW.”
Derrick says an important takeaway from this weekend’s auction is the fact that there really are classic cars available to suit all budgets.
“It’s true that the classic car market has exploded this year, reaching never-before-seen heights in terms of sales and values according to international indices, but that doesn’t mean collecting classics is an exclusive club for the elite.
“At this auction, we offered several cars under R100,000 for novice collectors. In fact, the hammer fall price range for cars across the 67-lot auction was from R50,000 all the way up to R4.4m.
“A fair number also carried auction estimates of less than R300,000, which is approaching the average price of smaller new cars in South Africa.
“Of course, the major difference between buying a classic car and a new mass-produced car is that classic cars are investments that appreciate in value, whereas most new cars depreciate the moment you drive them off the lot.”
Derrick says in the run-up to this weekend’s auction, the classic cars on offer were viewed online by more than 3.3 million gearheads in 93 countries.
“The Creative Rides team fielded inquiries from collectors in 40 countries, which resulted in more than 100 registered bidders taking part in the sale on Saturday.”
The first Creative Rides classic car auction of 2023 will be hosted at the company’s new showroom in Cape Town in March.