10 Classic Car Sale Prices That Exceeded All Expectations in 2020
Hagerty regularly observes the classic car market and gives insight to the community of price trends. In its latest report, they listed 10 cars that performed better than expected at UK auctions during 2020.
Some cars not only outperformed their auction estimates, but also the Hagerty Price Guide (HPG) value, with the results based on independent sales, auction results, insurance values, and Hagerty analysts.
A lot of factors come into play when pushing the value of some of the cars to unexpected heights such as provenance, history, buyer enthusiasm, and specification.
Here are Hagerty’s top 10 best performers that went above and beyond expectations in 2020.
1972 Bentley Corniche
HPG value: £62,100 / Sale price: £158,625 = 155% above HPG Value
British cars had a strong year in 2020 and the best example is this 1972 Bentley Corniche which was sold by Silverstone Auctions back in July.
The generous estimate of the example was at £80-£90k, but it ended up being sold for almost three times the £62,100 Hagerty Price Guide value.
Its sale price was assisted due to the rarity of this unit being right-hand-drive, with only 43 right-hand drive units made from the 570 units constructed in total.
1989 Mercedes-Benz 300 SL
HPG value: £28,500 / Sale price: £70,184 = 146% above HPG Value
The recently sold 1989 R107 example by Historics might just be a sign that the Mercedes-Benz SL is starting to rise.
The example had sixteen service book stamps and had traveled 10,000 mileage with the one owner. Despite its estimate to be around £25,000-£30,000 and a Hagerty Price Guide valuing it at £28,500, the 1989 Mercedes-Benz 300 SL was sold for an impressive £70,184.
1988 Porsche 928 SE
HPG value: £68,800 / Sale price: £129,375 = 88% above HPG
The Porsche 928 were once among the most affordable avenues into driving the brand. In November at Silverstone auctions a 1988 928 SE sold for £128,375 which is 88% more than the Hagerty assessed value. Although future sales are unlikely to hit the highs of this one, the tide might be turning for the 928.
This example only had 10,325 mileage, and until it was sold back in 2015, it only had one owner: The Egyptian Embassy. A highlight of this particular car is that it’s an SE- for Sports Equipment, with only 43 right-hand drive units produced in the UK.
1971 Lamborghini Miura P400 SV Speciale
HPG value: £1,720,000 / Sale price: £3,207,000 = 86% above HPG Value
As a Miura, it was not surprising that the Oro Metallizzato P400 SV Speciale was offered with a £1.6M-£2M estimate by Gooding & Company’s Passion of a Lifetime sale back in September, with Hagerty Price Guide affixing a £1.7M value.
Going 86% above book value, the 1971 Miura was sold at an impressive £3.2M, easily the highest vehicle sold on this list of 10 cars. This example was described by Gooding & Company to be one of the most extraordinary Lamborghinis of all time.
2005 Porsche 911 Turbo S
HPG value: £60,800 / Sale price: £81,000 = 33% above HPG Value
Despite the 996-generation Porsche 911 is coming of age, the sale of the 2005 911 Turbo S in August at Silverstone Auctions has shown that more unique examples of 911 will always tend to deliver the premium price.
The example at Silverstone Auction had more than 18,000 mileage, full aero kit, manual gearbox, a black-on-black color combination and was presented in exquisite condition with a full history file.
Having an estimated sale price of £45,000-£55,000, it caught everybody by surprise when it was finally sold for £81,000 a full 33% above the Hagerty Price Guide.
1961 Jaguar MK II 3.8
HPG value: £69,800 / Sale price: £93,500 = 34% above HPG Value
Silverstone Auctions sold the example back in May and it had all the right characteristics: heritage certificate, matching-numbers car, had previous magazine features, a comprehensive history, and a confirmed previous celebrity owner.
1987 E30 BMW M3 Competition Pack
HPG value: £72,300 / Sale price: £92,950 = 29% above HPG Value
This 1987 example was not initially a rally model however was converted sometime later. The conversion made this example desirable, not to mention that it came Jamiroquai front man Jay Kay’s collection.
The 87 E30 BMW M3 had a sale price of 29% above the value placed by Hagerty Price Guide.
1960 Mercedes-Benz 190 SL Hardtop
HPG value: £127,000 / Sale price: £155,250 = 22% above HPG
As opposed to the R107 Mercedes-Benz SL, the W121-generation SLs have commanded a high price for some time.
Given this, a £155,250 auction price this car sold at Goodwood Speedweek last year didn’t raise eyebrows, however, it did top both the £120k upper estimate along with Hagerty’s £127,000 price guide value.
1973 Ferrari Dino 246 GTS
HPG value: £278,800 / Sale price: £337,500 = 21% above HPG Value
The Dino 246 is another model that has consistently grown in value in the last few decades.
In the early 2000s, the Dino 246 could be found regularly for around £60,000. Back in July, this open-topped Silver 1973 GTS sold for £337,500, 21% above the Hagerty Price Guide value, although it was just in between the £300,000-£350,000 Silverstone Auctions sale estimates.
1972 Lamborghini Miura SV
HPG value: £1,720,000 / Sale price: £1,912,500 = 11% above HPG Value
One of Lamborghini’s most celebrated models was sold by Silverstone Auctions last year for £1.9M, 11% above the price guide. Still, it fell short of the upper range estimate of £2.4M.
The example is one of only 11 right-hand drive models in Super Veloce specifications.
[Source: Hagerty]