In what condition should a classic car ideally be? Restored to within an inch of its tailpipe perfection is the logical answer, but perhaps going out of fashion these days. Somewhat surprisingly the 'barn find' seems to be more prized now. But perennially popular, nestling in its very own stratum of desirability, is this: the classic that's virtually never moved in its life.
Adding the words 'low mileage' to any classified ad is a guarantee of piqued interest. Announcing that the odometer in a decades-old classic has lots of zeros in it brings delivers a whole new level of want.
50km on the clock, not 50K!
Personally, I'm not entirely sure what I'd do with such a machine. Lock it away in a dehumidified cocoon for another 20 years? Embark on that most anal of all pastimes, the concours competition? Not I. But serial collectors love the showroom-fresh patina, and are prepared to spend big on it.
The near-zero mileage classic is a rare beast indeed, so it's a real surprise to find a glut of 'as new' classics going under the hammer at this weekend's Race Retro show at Stoneleigh Park in the Silverstone Auctions classic car sale.
Unstirred Martini
In ascending order of recorded mileage, let's start with a Lancia with a mere 50km on the clock, all of them recorded by the dealer when he delivered the car brand new in 1992. It's an Integrale Martini 5, surely the loveliest Integrale of them all, and one of just 400 made. Limited edition Integrales have been going ballistic recently, and this "brand new condition" example may well go for northwards of £100K. See here for an earlier story on the car.
Big money for a little car? Discuss.
With just 264 miles from new,
this Mini Cooper
is one of the Rover Special Projects' 1990 special editions (1,000 sold in the UK, 650 in Japan). With the original factory wax still on the underbody, it looks brand new. Back in 1990 it would have cost you £6,995. Today, the estimate is a not unreasonable £16,000 - £20,000; but I think it might even go for more.
I make no secret of how much I love the Alfa Romeo SZ. Despite being something of a nightmare to run, with its bubble-tastic paint and Friday evening build quality, it's epically glorious. It cost £40,000 new and remains criminally undervalued now. But what price could this SZ fetch, with the auctioneers saying it "can only be described as new"? With 808km on the clock, but still unregistered (hmm, does someone have a private track somewhere?), the auction estimate is between £50,000 and £70,000.
Chris's trigger finger may be getting itchy
Barely broken-in stallions
And so to a final farrago of Ferraris. Very much undervalued at the moment is the Ferrari 456 GT, so I'd be fascinated to see how much this 400-mile-from-new
1999 Ferrari 456M
goes for, especially as it has the desirable manual gearbox. The estimate is £75,000 - £90,000 but I reckon it's just possible it could top £100K.
Undoubtedly the star of this particular collection is the 2005 Ferrari 575M Superamerica, one of only 559 Superamericas built. Its sole German owner has covered just 1,300 miles from new, justifying an auction estimate of £230,000-£270,000. However, with the only other one on sale in the classifieds having more miles and a higher price tag, the hammer may well stay its fall until it goes even higher.
Mondials remain the runt of the Ferrari litter - you can still find them in the classifieds for as little as £17,995. So it's perhaps a little eyebrow-raising to see one that's estimated to fetch £50,000 - £70,000 at Race Retro. It may be a mere 1991 Ferrari Mondial T, but this one is being sold "as new" - with only 2,088km on the clock.
If you missed 'em when they were new, you've still got a chance now...