Tag Archives: RM Sotheby’s

Drop In Sales At Monterey Classic Car Auctions

If you are a classic car enthusiast, you may well be aware that the annual Monterey Car Auctions that took place this August in the USA is one of the most exclusive of such events. There were six major auction houses offering classic vehicles for sale including Bonhams, RM Sotheby’s and Gooding & Co with some cars being sold for in excess of $10 million each.

Whilst the final figure for the total amount generated is not yet available, the indication is that there has been a reduction in the value of sales from the various auctions in comparison to last year. In fact, this is the second year in succession that there has been a fall in the amount generated from the sale of classic cars at these auctions.

The figure so far generated from this August’s auctions is $344.9 million. Last year the figure was $396.8 million.

Apparently, the Monterey Car Auctions are a good indicator as to how classis car values are doing. For quite some time now, classic cars have been viewed as an excellent form of investment in comparison to the likes of stocks and shares. It will be interesting to see if this continues to be the case.

The top 5 sales at the above auctions were: –

Jaguar D Type

1. 1955 Jaguar D-Type Roadster that was sold for $21,780,000.





Alfa Romeo


2. 1939 Alfa Romeo 8C 2900B Lungo Spider that went for  $19,800,000.





Ferrari 250 GT California
3. 1959 Ferrari 250 GT California LWB Alloy Spider that achieved a sale price of $18,150,000.





Shelby Cobra 260 Roadster

4. 1962 Shelby Cobra 260 Roadster that went for $13,750,000




Ferrari 250 GT SWB
5. 1960 Ferrari 250 GT SWB Competizione Coupe that fetched $13,500,000.




In fact, 5 of the classic cars that featured in the league table for the 10 top selling vehicles were Ferraris. Perhaps this is not surprising when you consider that a 1962 Ferrari 250 GTO Berlinetta was sold at auction in August 2014 for a world record price of $38,115,000.

If your classic car insurance is coming up for renewal then why not get in touch with a member of the knowledgeable team here at AIB Insurance on 02380 268 351 with a view to obtaining a competitive quotation.

Classic Car Once Owned By John Lennon To Be Auctioned

If you are, shall we say “ of a certain age” and enjoyed pop music, you will be aware how famous The Beatles were many years ago. Well, a classic car once owned by John Lennon who was a member of the group is to be auctioned.John Lennon

The 1956 Austin Princess is being auctioned at RM Sotheby’s on the 7th September in London. The car may fetch in excess of £250,000. Apparently, that is considerably more than such a vehicle would normally be expected to sell for in view of the fact that it was once owned by someone as famous as Mr Lennon.

The classic car was purchased by him back in 1971. The large door at the rear of the vehicle was of particular use as it probably enabled Mr Lennon to get into the vehicle quickly when he was being followed by dozens of the group’s fans. Interestingly, he had five aircraft seats put in the rear of the vehicle and they remain in it to this day.

Austin PrincessThe 1956 Austin Princess was kindly donated to the Austin Rock and Roll Car Museum that is situated in Texas in the USA back in 2008 by its then owner Milton Verret. The museum is to sell the car with a view to some of the monies raised being used to help some worthwhile causes. One of these is UNICEF that was, apparently, John Lennon’s favourite charity.

So, if you are interested in purchasing the above classic car then you may wish to arrange to attend the auction.

Here at AIB Insurance, we have been arranging classic car insurance for numerous clients over a number of years. Therefore, if you would like a quotation without any obligation, why not get in touch with us on 02380 268 351 and speak with an experienced, friendly member of our team.