Commercial & Industrial News South Africa

2003 BMW M3 sells for R2.3m at SA classic car auction

Four buyers each spent R2m or more this weekend bagging their dream rides at a classic automotive auction, where collector cars, trucks and motorcycles worth in excess of R100m went under the hammer.
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This is according to Creative Rides Classic & Collectibles Auctions CEO Kevin Derrick at the end of the two-day event at Montecasino in Johannesburg, which brought together car enthusiasts from across Gauteng and pitted them in fierce battles against national and international collectors bidding via digital livestream.

“In total, more than 200 lots representing 112 years of automotive engineering from four continents were knocked down.

“Good news for the local collector car market is that the auction’s best-sellers will be staying in the country,” Derrick says.

Record sales:

1. R2.37 m for a 1964 Jaguar E-Type 3.8 Series 1, a concours-condition stunner painted mercury silver, with an oxblood leather interior. When the Series 1 launched at the Geneva Motor Show, Enzo Ferrari called it the most beautiful car he’d ever seen, and for more than 60 years collectors have agreed. The Series 1 is widely considered to be the most valuable E-Type.

2. R2.35m for a BMW M3 CSL E46, first registered in 2005, but manufactured for six short months in 2003, and one of the most collectable modern BMWs in the world. A total of 542 right-hand drive CSLs were built, with only 65 numbered units exported to SA. The numbers-matching 14/65 with just 26 682km on the clock that sold this weekend exemplifies the premium that collectors place on low mileage and matching numbers.

3. R2 .3m for a 1963 Corvette C2 Split Window coupé, which was only manufactured for one year when Corvettes also gained the iconic Stingray monicker. In total, 10 594 Split Window coupés were built, which makes them among the rarest and most collectable V8s in the world. As with the CSL, the value of buying internationally sought-after collector cars in rands is evidenced by comparative prices overseas.

4. R2m for a six-speed 2007 Porsche GT3 RS 997, barely broken in with less than 44,000 km on the clock. This ticks all the collector boxes: it’s a Porsche, it’s a low-mileage, high-performance vehicle in great condition, and with only 1,909 ever produced, it’s very rare. Should you choose to risk your investment, putting your foot to the floor will take her over 300km/h.

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