'Classic cars, auction success and a race to victory for automobile collectors'
From rockers to Royals, these motors aren't only bona fide classics - they symbolise a lifestyle
A few weeks ago, I talked about 'wish fulfilment' on the value of collectibles.
Whether it's owning a certain luxury watch, or a shirt match-worn by your favourite sports icon, wish fulfilment is a major driving force behind the collectibles markets.
And these trends been all over the markets this week in a series of high-priced sales, each with a famous name attached.
Let me put it a different way...
When you think of a big rock star or actor, which of their possessions most signifies the wealth and lifestyle they enjoy? A lifestyle to which many others aspire...
Remember, we're talking in terms of collectibles here so it isn't their house. Nor is it a worn item, like John Lennon's iconic granny glasses or Jimi Hendrix's guitar.
Instead, I'm thinking of something that reveals a lot about a person. Something that is almost an extension of themselves and is really quite personal...
One good example came up on the markets this week. After being passed-up at a previous sale, its second appearance on the market saw it sell for $108,000.
Here it is...
This 2003 Ferrari 575 Maranello was once owned and driven by rock guitarist Eric Clapton. What's more, it has also been owned by the BBC broadcaster and respected car collector Chris Evans.
Classic cars with celebrity provenance usually do well on the markets, for two reasons...
Firstly, these are cars that would normally appeal to automobile buffs anyway. Plenty of wealthy collectors wouldn't hesitate to place a bid on a 2003 Ferrari 575 Maranello.
Secondly, these cars have 'been places', so to speak. They symbolise a certain lifestyle. And if this 2003 Ferrari doesn't float your boat, take a look at what Clapton drove before...
Clapton's 1963 Ferrari 250 GT Lusso was auctioned for $2.3m. It was sold in August 2007 by Christie's in California.
I'd guess that this car sold to a member of the 'baby boomer' generation. Someone who grew up listening to Clapton's iconic groups like Cream and Derek and the Dominoes... Although I'm only speculating when I say this.
Elsewhere, a 1959 Mercedes-Benz 190 SL Roadster was also announced as being for sale this week.
A beautiful motor, I'm sure you'll agree, whether or not it was formerly driven by the US rock singer Cheryl Crow...
That said, with nine Grammy Awards and performances with Mick Jagger and, by apparent coincidence, Eric Clapton (her former beau) under her belt, you can't rule out that a Cheryl Crow fan somewhere might be attracted to this car for its rock 'n' roll provenance.
Mind you, there is a flip side to this coin...
If you're a regular reader of Paul Fraser Collectibles, then you'll be well aware of the collectibles buzz surrounding Catherine, Duchess of Windsor, including her £78,000.
If her dress could sell for £78,000, what could her car bring? Unfortunately, this 2001 VW Golf which Kate Middleton owned while at St Andrews University appeared on eBay earlier this month. But despite receiving a top bid of £48,100, failed to meet its reserve.
If think you know where I'm going with this... Unfortunately, a 2001 VW Golf - great though it is - isn't a classic in a league with Ferrari, no matter who's been driving it.
Nevertheless, if the car is a bona fide classic and also attached to a celebrity then it is certainly one to watch on the auction block.
For more information on how you can benefit from buying classic cars, contact us for a free consultation at:
+44 (0) 117 933 9500
All the best, until next week