Home Automobile 4 CARS TOP R2 MILLION AS SA RECORDS TUMBLE IN COUNTRY’S BIGGEST EVER CLASSIC CAR AUCTION

4 CARS TOP R2 MILLION AS SA RECORDS TUMBLE IN COUNTRY’S BIGGEST EVER CLASSIC CAR AUCTION

Buyers Factor Condition & Mileage into Pricing for Best-Selling Jag, BMW, Corvette & Porsche

by Sam Bartlett
6 minutes read
classic car auction

Four buyers each spent R2 million or more this weekend bagging their dream rides at South Africa’s largest ever classic automotive auction, where collector cars, trucks and motorcycles worth in excess of R100m went under the hammer.

This 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 live stream. 

“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.”

Top Cars

Derrick describes the entire weekend as “exhilarating”. 

“On both Saturday and Sunday, we were witness to hotly contested bidding wars for incredible cars that closed at R2m or more. This sets a new South African record for four sales in this price bracket in a single auction.”

Derrick says the top hammer-fall lots, and all South African auction records for these models, were:

  1. R2 375 000for 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 350 000 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 300 000for 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 000km 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.

Local Stars

Derrick says one of the most unexpected knock downs of the weekend wasn’t on a super car, a classic or even a “traditionally” collectable brand. Compared to many other lots on auction, the hammer fall price wasn’t extremely high, either.

“But a knock-down price of R555 000 unequivocally sets a new national auction record for a 1991 Opel Kadett Superboss.

“The Superboss was a rare homologation built specifically to take on the BMW 325is that dominated Group N racing at the time, and roughly 500 of each were built here for the local market.

“This hammer-fall record offers yet another example of South African and, of late, international collectors’ passion for limited-edition, home-grown cars, which was evident in the ferocious battle for the Superboss.

“Several bidders were in the race to the R450 000 mark, but a jump to R500 000 left only the serious contenders in play. Six bids and R55 000 later, the hammer dropped for a buyer in Johannesburg.” 

Derrick says less surprising, but equally gratifying, was that Creative Rides broke its own SA auction record of R900 000 set in December for a BMW 325iS, colloquially known as the Gusheshe. 

“This weekend we knocked down a numbers-matching 1991 BMW 325iS Evo2 for R950 000, demonstrating that collector appetite for these cult classics remains strong. Another 325iS – this one super-charged – fetched R900 000 on Saturday. 

“Likewise, the hammer fall of R800 000 for a V8 Ford Capri Perana was R85 000 higher than the price achieved at auction in March, demonstrating the investment value of collector cars.”

Beauty v Beast

According to Derrick, two other categories shone at the auction – muscle cars and BMWs. 

Among the BMWs, hotly contested lots included:

  • The 2012 BMW 1M, which was knocked down for R830 000.
  • A 2013 BMW M3 Frozen E92 for R830 00.

Muscle car highlights included:

  • R1.4m for a1965 Ford Mustang GT350 Restomod.

Creative Rides Lead Auctioneer Joff van Reenen says 2 500 car lovers turned out to bid and see the extraordinary car show at Montecasino over the weekend, with a live stream audience over the weekend of 26 000 from across the country and the world. 

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