Summer '06

The Market as at 05/22/06....

Is up strongly. 2006 has opened as strongly as 2004 in which we sold some $5.26M worth of vintage racing sports and GT cars. 2005 wasn’t so good for us (though others reported strong sales) but the first five months of 2006 have seen sales of $3,000,000 worth so far through us.

GTP Cars

Some examples: Last year, a decent Porsche 962 could be found for circa $250,000. Today, you’ll be lucky to find the equivalent for less than $400,000. A TWR Jaguar XJR12 has sold for $1,400,000 this year. Just two years ago, they were in the $450,000 bracket when liberated by TWR’s sad bankruptcy. A Porsche RSR in 2004/2005 was around $350,000. Today, that same car is $475,000 plus.

There are some bargains. I have three March 84Gs on my site that can each be bought (needing work) for $150,000 or less. I predict they won’t hang around long.

SPORTS RACING Cars

Anything particularly rare of which the makers only built, say, four to ten is worth over half a million today. The average 2-liter Chevron or Lola is easily bringing $130,000 plus.

REPLICA RACING Cars

Just look at the price of replica racecars. I’ve sold several good replica RSRs, all with their own particular levels of performance and fittings for $75,000 and over. I recently sold a good replica 935K3 for $85,000 and thought it cheap. The customers did too, as the inquiries came in thick and fast and it went fast. Personally, I thought the buyer got one hell of a deal.

So the market’s roaring. Why? I think there are more and more comparatively young (28-45) people out there who want to go vintage racing. They have money from various sources and are not afraid to spend it on what seems to be the right car. And just think…a Picasso changed hands for $92,000,000 plus a few weeks ago; I’d much rather have a great racecar to look at and drive than a canvas stuck on the wall!