Tag Archives: classic car insurance

What Is Happening To The Classic Car Market?

Classic car prices have risen significantly since around early 2010 until about August 2015. However, since then there has been an easing in values although there are possibly going to be certain makes and models of vintage vehicles that continue to go up in value. There has also been a drop in the number of classic cars sold.

This is perhaps borne out at the recent H and H Motorcar auction that took place on the 26th July at The Imperial War Museum, Duxford, Cambridgeshire. There were quite a number of classic cars that remained unsold on the day.

A Lagonda DB 2.6/3.0 Litre Drophead Coupe manufactured in 1953 was estimated to achieve a sale price of £70,000 to £90,000. It was blue in colour and had a 2,995 cc engine. The original purchaser was Sir Peter Ustinov who owned the car for 12 years but since 1968 it has remained in the same ownership. Regrettably, despite its renowned original owner, it was not sold on the day.

A Jaguar E-Type 3.8 “Flat Floor” Roadster built back in 1961 with red bodywork and a 3,781cc 265bhp engine capable of accelerating from 0 to 60mph in a mere 6.9 seconds towards a top speed of 150mph was one of only 1,582 manufactured. It has been beautifully restored and had an estimated sale price of between £180,000 to £220,000. Unfortunately, no sale was achieved.

One of the classic cars that had the potential to achieve a significant price was an Austin Mini Cooper S 1071 “Hatchback” built in 1964. At one point it was owned by the Rt Hon Ernest Marples MP. He was renowned for opening the M1 Motorway. It had an estimated sale price of £70,000 to £80,000 but failed to be sold.

An elegant Bentley 4.25 Litre James Young Sedanca Coupe built in 1938 with its bodywork in black and a beige trim interior that has a 4,257cc engine was offered for sale with an estimated price of between £180,000 to £220,000 but unfortunately remained unsold.

It will be interesting to see what happens in the classic car market in the coming months.

If you are looking to insure your classic car then why not give us a call here at AIB Insurance on 02380 268 351 to discuss your requirements with a knowledgeable member of our staff.

Rare Camper Van To Be Auctioned

IfV/W you are an enthusiastic VW camper van collector then you may wish to get along to Classic Car Auctions June Sale on the 9th and 10 June at the Warwickshire Exhibition Centre. The reason is that a rare classic 1959 Volkswagen 23-Window ‘Devon’ Camper Van with a 1.6 litre engine is going to be auctioned and there may well be an awful lot of interest in this particular vehicle.

It is described on the website of Classic Car Auctions as “The “Holy Grail” of VW campers.”

Having been built in Germany all those years ago, it was transported to South Africa where it remained until 2005 at which point it was brought over to the UK. It is right hand drive that, in itself, is unusual. It has been restored to the highest standards over a three-year period here in the UK. The owner just happens to be a cabinet maker and he restored the interior using original parts where necessary. It must have been quite an achievement to source such parts bearing in mind the rarity of this classic vehicle.

No doubt whilst it was in South Africa it was used for some delightful holiday breaks in a lovely warm climate. Let us hope that the new owner is able to enjoy taking his V/Wor her family on numerous holidays in whichever country the new buyer lives as well as trips overseas.

It has an estimated price of £45,000 to £55,000.

Here at AIB Insurance, over many years, we have arranged tailor made competitive insurance cover on numerous camper vans and motorhomes. So, if you would like such a quote then why not give us a call on 02380 268 351 and speak to a friendly, knowledgeable member of the team who will discuss your requirements and obtain a quotation from our extensive panel of quality insurers.

Auction Of 1966 Aston Martin Barn Find

Aston Martin Barn FindClassic Aston Martin DB6’s do not become available for sale at an auction too often but it is rarer still to come across one that is a “barn find”. Well, if you are an Aston Martin fan then now may be your chance to own one.

This is because, a right hand drive 1966 Aston Martin DB6 with an automatic gear box is being auctioned by Stacey’s Auctioneers and Valuers on the 7th May 2017 at the Essex Classic Car Auctions. Despite requiring full restoration work, it has an estimated sale price of £180,000 to £220,000.

Apparently, twenty-five years ago, this classic, sought after vehicle was placed in a barn having had its engine removed with a view to painting the bodywork. However, the car remained in the barn until recently and is now available for sale. It is reported that the instruments inside the car are still in situ and the lighting and chrome work on the outside of the vehicle are said to be in place. The engine is still there albeit it will not be firmly attached.

It would appear that whoever may decide to buy this rare classic car is going to have to spend some time restoring it or pay someone else to do the work. Hopefully, it will not be too long before it is restored to its former glory and is in perfect working order as there are fewAston Martin Barn Find sounds that beat the engine noise of an Aston Martin.

Here at AIB Insurance, we have insured many classic cars including a significant number of highly valuable ones. So, if you are looking to insure a classic vehicle why not give us a call on 02380 268 351 and speak with one of our experienced members of staff who will discuss your requirements and provide a bespoke quotation without any obligation on your part.

Jaguar E-Type Reborn – For A Price!

Jaguar E-Type The Jaguar E-Type was an iconic sports car that was particularly popular way back in the 1960s. It was driven by the likes of famous film and football stars such as Brigitte Bardot and George Best and was renowned for its speed and elegant looks. It featured in many racing events.

Well, if you have got a spare £285,000 or more then you may be able to become the proud owner of an original Jaguar E-Type Series 1 that has been painstakingly restored to its former glory. Initially, there are 10 of these classic vehicles being restored.

Jaguar Land Rover Classic Works is located in Coventry where skilled craftsmen lovingly restore Jaguars under the “Reborn” scheme. The unit has the most up to date technology available to assist in the restoration process. Original Jaguar classic parts are to be utilized when the vehicles are restored.

You may be interested to read that a Jaguar E-Type Series 1 4.2 Fixed Head Coupe finished in opalescent gunmetal grey is the first one to be restored. Back in 1965, the vehicle was shipped to California but found its way back to the UK. It has 78.000 miles on the clock. Its original engine, gearbox and bodywork have been rebuilt to the highest standard of workmanship.

The Jaguar E-Types will have either 3,781 cc or 4,235 cc six cylinder engines producing 265 bhp getting from 0 to 60 mph in around a mere 7 seconds and capable of a top speed of around 150 mph. We are sure that you will agree those are extremely impressive performance figures.

So, if one of these classic sports cars is still available to purchase and you are considering buying one why not get in touch with one of the experienced, friendly team here at AIB Insurance on 02380 268 351 to obtain a competitive quotation for classic car insurance to provide you with complete peace of mind.

Classic Aston Martin DB4 “Farm Find” To Be Auctioned

Aston MartinWorldwide Auctioneers Scottsdale auction takes place on the 18th January 2017 with one of the cars offered for sale being a 1961 Aston Martin DB4. However, this particular vehicle has the added appeal of being a “farm find”.

This classic sports car, despite being in need of restoration, has an estimated sale price of between $375,000 to $475,000. It has been owned by the same person for the last 45 years.

It has a 3,670cc six-cylinder engine that, in its heyday, was capable of producing 240 bhp. It was able to get from 0 to 100mph in less than 30 seconds reaching a top speed of 140mph. Therefore, it was an extremely powerful car.

Between 1958 and 1963 only 1,113 of these vehicles were built here in the UK. This particular classic sports car was built with a specification for the USA market in 1960 and transported to the USA in November of that year. The original owner of the vehicle took possession of it in April 1962.Aston Martin

The car spent decades in the outdoors at the current owner’s property until being found not too long ago. Its steering wheel is wood-rimmed and has wire spoke wheels. Its upholstery is black and its bodywork has been repainted green.

This classic vehicle sounds like it could appeal to a number of interested purchasers especially in view of its history. It will be interesting to see if it achieves a price within the estimated range or, indeed, if it sells for a higher figure.

Here at AIB Insurance, we have arranged quality cover on a number of classic cars over the years. So, if your classic car insurance is coming up for renewal or you are looking to insure a vintage motor purchase for the first time why not get in touch with us and speak with a knowledgeable member of our team who will gladly arrange a competitive quotation for you.

Cars Once Owned By Royalty To Be Auctioned

BentleyIf you are a car enthusiast and would like to own a vehicle that was once in the possession of Royalty then you may wish to get along to the Silverstone Auctions NEC Classic Motor Show Sale 2016 that is taking place next month. This is because someone has decided to sell a number of cars that include motor vehicles previously owned by the likes of the Queen, HRH Princess Margaret, Princess Diana, the Qatari Royal Family plus other well-known people such as Sir Elton John and Samantha Cameron (David Cameron’s wife).

One of the vehicles is a Bentley Mulsanne in Barnato Green with a 6,750cc engine that was delivered to the Queen in 2012 and was used to transport her on a number of occasions including when she attended a cabinet meeting at 10 Downing Street. When it was used by the Queen it had various security features fitted including armoured plating and glass but when it ceased to be used by the Queen it was returned to Bentley and these security features were removed. This luxury car is obviously in wonderful condition and has done less than 6,000 miles. It is expected to be sold for between £215,000 to £235,000.Queens Bentley

Another of the cars, is a 1980 Rolls-Royce Silver Wraith 11 that was once owned by HRH Princess Margaret. It was painted in Cardinal Red and had a black roof. The interior of the car was fitted out to HRH’s requirements such as the rear seats being higher than normal so that people could see her. One of the occasions that it was used for was to transport members of her family at her private funeral in 2002 following which it was sold. This classic vehicle is in excellent condition and has an estimated price of between £90,000 to £110,000.

Back in 1994, Diana, Princess of Wales took ownership of a new, automatic 2.3-litre Audi Cabriolet. It was painted in Gomera Pearl. She only drove around 4,000 miles in the vehicle before returning it to Audi. It still has a very low mileage for its age at just over 21,000 miles and is in delightful condition. It has an estimate of between £50,000 to £60,000 and perhaps this just shows the impact that someone from the Royal Family having driven the vehicle can have on its value.

Fiat 500LMoving away from cars owned by members of the Royal Family, you may wish to consider a white 1972 Fiat 500L that was once bought by David Cameron for his wife Samantha’s birthday. It only had a 499cc engine. Apparently, a taxi driver who returned the Cameron’s to their home in October 2005 noticed the Fiat 500 on their drive and then bought it from them for £1,000. It has been extensively refurbished and has done below 15,000 miles and has an estimate of between £18,000 to £22,000.

You can find more information about the above vehicles and many more on the website of Silverstone Auctions.

Introducing Tony Johnson, Our Newest Team Member

Tony JohnsonWe are pleased to welcome Tony Johnson, who joins our team in Eastleigh as one of our Insurance Consultants.

Tony has a decade of industry experience, having worked for insurance broker firms in Portsmouth, before moving to Swinton’s in 2013 – initially working in Waterlooville before moving to the Fareham branch.

Tony, who lives in Fareham supports Manchester United Football Club, he was born 9 weeks premature, he hates sponge (??!) likes strawberry flavour things but not strawberries and has met Mike Tyson, Kat Von D and Sir Alex Ferguson.

AIB Office Manager, Nigel Gould, said,

“Another great addition to our team in Eastleigh. Tony has the experience to help us further expand our client bank and offer exceptional customer service levels to our new and existing clients.”

Council Organizing Frequent Classic Car Rallies

It will not come as a surprise to hear that the owner of a classic car will purchase his or her pride and joy for one or more reasons. It could be as a financial investment keeping it under lock and key in a garage never to see the light of day until it is finally sold for a considerable profit. It may be as a restoration project to return the vehicle to its former glory to then venture out in it on a beautiful Sunday afternoon with “the other half” touring the quiet British country lanes.

However, what is pleasing to note, is that more and more people are bringing their vehicles to classic car rallies to put them on display. This means that such cars are being seen by an increasing number of members of the public. As a result, this may encourage others to get the classic car “bug” and purchase one.Classic Car Show

In the main, such rallies tend to be organized by classic car owners’ clubs and take place once or twice a year. Well, you will be interested and pleased to read that we have heard of a council being heavily involved in organizing such rallies in their locality.

The council in question is Southend-on-Sea Borough Council and is to be congratulated for arranging regular rallies of classic cars in the town. These events are to take place at certain parts of the seafront where the cars will be on display for the community to look at. In fact, 20 owners of pre-1970 classic cars will also be able to pop into a restaurant on the seafront and tuck into a breakfast for free.

So, if you fancy showing off your classic car on certain Sunday mornings and enjoy a delightful breakfast why not contact Lisa Ferne on 01702 215119 who is the council’s strategic events manager for further information and register for one of the rallies. Be sure to book your place early so that you are not disappointed.

The dates of the rallies are Sunday March 30, April 27, May 25, June 22 and September 28.

AIB Launch Classic Car Offering

Classic Sports CarAIB is proud to announce the launch of our non-standard personal motor products designed to meet the needs of the true classic and cherished car owner.

As an independent broker we have formed partnerships with some of the UK’s most respected classic car insurers to provide our clients with a variety of choice and benefits that can be tailored around our clients needs. Our Classic policies are available for classic and vintage vehicles that are a minimum of 15 years old and considered ‘cherished’ second cars although we do have products available for those daily drives.

We provide discounted rates for those limited mileage drivers and discounts for vehicles kept tucked away in a garage overnight. Arranging multi car policies will also see our client bank enjoy annual savings.

Agreed value may be available free of charge (please ask for details) and a wide range of modifications and non-standard elements can also be accommodated.

You’ll find ‘nothing standard’ about AIB’s professional and expert advice.