I am writing this having just read that a Ford Sierra sold at the Silverstone Classic Auctions for £112,500.
A Ford Sierra… Damn, my Dad had a Vauxhall Viva followed by a Peugeot 405 TDI; wish he’d kept hold of them.
Ok, so the auctioned Sierra in question was a 3 door RS Cosworth RS 500 (meaning this particular blue oval is 1 of 500 that were built) and has a super low mileage of 6,000 miles, a shade over 200 miles per year since it was first registered in 1988 – if you’re a deft hand with a calculator, as I am.
Classic Cars have riden a rollercoaster of values that typically seem to rise and fall outside of the usual remit of traditional investments. Currencies, Property, Land, Property, Shares, Stocks, Gilts and Funds undulate based on the daily occurrences of business and the top economies. I would go into more analytic detail but I unfortunately don’t know much more than that. This isn’t the Economist! All I know is that savings accounts have plummeted leading to a rush for other investments. Bring on collectable cars…
The classic-car industry however appears to make its own rules, surprising industry insiders along the way, as the title of this blog may allude to. Asia, the US and the UK have all seen record-breaking values achieved in its auction houses, indicating that the wealthy are still willing to pay top-buck for the most unique, investment-grade special-edition vehicles to adorn their basements. I’m sure it almost becomes a game to them, of who can pay the most of money in order to keep them away from the mitts of the likes of you and I!
I would however be a hypocrite if I said I wasn’t fascinated by private car collections. I love the feeling when you are invited to or stumble across a temperature and humidity controlled hanger of a garage (often with a bigger square footage than my house, sadly!) – and yet it’s incredibly sad that some of the iconic, brilliant cars have seen so little daylight. The amount of design, engineering and mechanical wizardry that goes into producing a road-going race car must be baffling. And that certainly wasn’t intended to be completely wasted by being covered by a sheet and forgotten about for the best part of 3 decades.
Cars are meant to be driven. That’s why they have tyres, steering wheels, engines and go-faster stripes.
Will this Sierra ever be driven though? This is the question the Internet has asked and I can see both sides of the argument here. On one hand, our precious classics deserve to be seen by our future generations. Generations who will no-doubt grow up talking about the latest battery power output, the amount of torque generated by a green-electric motor, or how Lewis Hamilton’s yet-to-be-born son is leading in the Formula-E championships. They need to see how we used to do things, designing, owning and driving vehicles powered by this all-powerful liquid they used to call petroleum.
In the last 6 months I’ve seen reports of Escorts that sell for 100k plus, and have you seen the prices of classic Mini Coopers recently? I thought ‘d easily be able to afford one that wasn’t a complete shed… and just today on eBay there is a recently restored one up for £55,000. That’s a Nissan GTR or a Porsche Cayman R right there, with some change for the fuel you’ll so-often need.
But £112,000 for a Sierra? The old-school Ford boys that remember selling these to their mate Barry 10-15 years ago for a packet of Bensons and a Fish and Chip supper must surely be having a little weep somewhere. Probably behind the wheel of a Mondeo, which I’m sorry to report, does not look like it will be worth anywhere near the Sierra’s value in 30 years time. Sorry about that.
Edford Classic Cars