Tag Archives: Classic

Classic Ferrari Sells For World Record Price

Those of our customers who are classic car enthusiasts will no doubt be aware that classic Ferraris are highly desirable vehicles with many commanding high prices as and when they are offered for sale. The Ferrari 250 GTO is reputably the most sought after of them all with, it would be fair to say, a value far exceeding what most people can afford to spend. For instance, back in 2013, it is believed that one was sold privately for around £40 million.

Well, it is believed that that figure has recently been exceeded with a 1963 Ferrari 250 GTO fetching in the region of £52 million. This would make it currently the world’s most expensive classic car. Apparently, when originally sold brand new, this make and model of car could be bought for around $18,500. We are sure that you will agree this is a significant increase in value over the years and has probably provided a greater investment return than any other asset.

Who has paid that sort of money for such a wonderful vehicle? Well, it is believed that a businessman called David MacNeil from the USA is now the proud owner of this classic sports car. He owns a business that sells car mats and, by the sounds of things, appears to have made a considerable amount of money doing so.

Only thirty-nine Ferrari 250 GTOs were built between 1962 to 1964. So, it is an extremely rare classic vehicle with this no doubt having a considerable bearing upon its value. These models were capable of rocketing to a top speed of around 174 mph.

This particular Ferrari 250 GTO actually won the 1964 Tour De France so this will no doubt have had an impact upon its value. It has also taken part in many other motor racing events.

The premium to insure such a classic car would no doubt be considerable and there are possibly not too many insurance companies that would be prepared to take on the insurance risk. In this respect, if you are the proud owner of any make and model of classic or vintage vehicle and require a quotation for classic car insurance then why not get in touch with us on 02380 268 351 and one of our experienced members of staff will discuss your requirements with a view to doing all that can be done to obtain a competitive quotation from our panel of insurers.

 

Classic Motorcycles Sold At Bonhams Auction

BikeThose of you owning a classic motorcycle may be interested to read of the sale of a number of such vehicles at the Bonhams New Bond Street, London auction that took place on the 2nd December 2017. More information can be found on the auctioneer’s website but a summary is provided below to “whet your appetite”.

For instance, a 1964 BSA 646 CC Rocket Gold Star motorcycle achieved a sale price of £24,725 including the premium. This delightful motorbike was beautifully restored back in 2001 and has been well maintained. It had a 46bhp engine that was capable of getting to a top speed of around 105mph making it an extremely nippy two-wheeled vehicle. Only about 1,800 of these motorcycles were built making it quite desirable and they are very sought after by classic motorbike enthusiasts.

Those of you interested in the Brough motorcycle will be interested to read that a 1936 Brough Superior 982cc SS80 Special was sold at the above auction for £82,140 to include premium. It was renowned for being the superbike of its era and this one is one of only around 300 that are believed to be still around today. The vehicle went through a full restoration under the ownership of John Coxon before falling into the hands of another owner who took possession in January 2010.

A 1949 Vincent 998cc Black Shadow Series C classic motorbike fell under the hammer for £119,100 including the premium. For around 30 years the bike had been kept in a barn until it was subject to a restoration project in 2016 to a 1949 Earls Court London Motorcycle Show specification. It certainly is a highly desirable classic motorcycle and would be the envy of many an enthusiast.Bike

If you are considering buying a vintage motorcycle or are already the proud owner of one then why not get in touch with us here at AIB Insurance on 02380 268 351 where we will be delighted to discuss your requirements in respect of insuring the vehicle. We have an extensive panel of insurers so we would be able to help source a competitively priced quotation.