5 reasons why this is the most valuable classic car ever auctioned


2015-06-26 13:21:49


5 reasons why this is the most valuable classic car ever auctioned

The five criteria don't align very often in the world of collectibles, says Paul


Did you see the 19.6m ($29.6m) sale of a 1954 Mercedes-Benz F1 car on Friday?

It set a new world record for a classic car at auction, beating the $16.4m set by a 1957 Ferrari 250 Testa Rossa prototype in 2011.

Whenever I see a new world record set, I ask myself 'why?'

In the case of the Mercedes, there are five key reasons.

And these factors are not applicable solely to classic cars, but are often in evidence across the collectibles sector, whenever a new record or major sale takes place.

Pioneering: Robert Brooks, the chairman of Bonhams, explained to Forbes following the sale: "[Mercedes-Benz] were responsible for the first two motor cars that you can give that name to: Benz designed in 1886 his three-wheeled vehicle and Gottlieb Daimler did his four-wheeled vehicle in the same year. They were the first two motorcars. That's a long time ago, but that strand of Mercedes-Benz has dominated from years past."

Prestige: In addition to its pioneering status, Mercedes-Benz has remained among the elite car manufacturers. It is a brand to be aspired to for many.

Fangio Mercedes at BonhamsA once-in-a-lifetime opportunity for buyers?

Famous connection: In this case there are two key connections. The car was a double F1 race winner (in Germany and Switzerland in 1954), and even more importantly, it was driven by the great Fangio in those races.

Rarity: Only 14 were ever produced. Just 10 exist today.

Once-in-a-lifetime opportunity: While there are 10 extant, this may have been the only opportunity collectors will get to buy one. That's because the remaining nine all reside in museums.

The five areas above don't align very often in the world of collectibles, but when they do, demand soars and prices consequently skyrocket.

Bear them in mind whenever you're looking for collectibles that can make you money down the line. The more of the five you have, the more confident you can be that you're on to a winner.

Rare space memorabilia is one collectibles sector that often meets the five criteria above. This week sees the 44th anniversary of the Apollo 11 Moon landings - something that we've paid tribute to in this newsletter.

Do enjoy, and thanks for reading.


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