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Auction PR Publicity Announcements News and Information

Bonhams Launch New Oxford Classic Car Auction

Bonhams new saleroom adjacent to Oxford’s airport, took off with no problem this weekend with 500 people participating enthusiastically for 40 stunning cars at the first Bonhams classic car sale in the city.

ferrari-daytona.jpgThe sale on Sunday March 8th achieved a total £968,493 with over 95 percent of cars sold, 41 were offered and 39 sold, an astonishingly strong result for these financially trying times. “This sale shows that we were right to move our operation out of central Oxford to give us more room. It was really satisfying to see the level of enthusiasm and the huge turnout,” said Michael Wynell-Mayo, Bonhams Oxford Director.

James Knight, International MD of Bonhams Collectors Car Department said: “If you are fortunate enough to have cash liquidity and are keen to put some of it into a tangible asset, something you can enjoy, then classic cars are proving to be an interesting alternative investment.” He said that there was a big presence of European collectors and buyers which was understandable because of the strong Euro.

In the same week the new Oxford saleroom hosted an equally strong fine art and furniture sale, pushing the financial result for Oxford to beyond £1.25m in one week. A month previously Bonhams held a hugely successful classic car sale in Paris which made Euro11m with two Bugattis selling for E3.5m and E2.5m

But for local classic car enthusiasts the arrival of Bonhams car sales in Oxford was a very exciting new development. Top lot in the sale was a 1972 Ferrari 365GTB/4 Daytona Berlinetta which made £144,500. It went to a UK buyer with the pre-sale estimate spot on at £130,000 to £150,0000.

The second highest price paid, £131,300, was for a 1960 Aston Martin DB4 Series II, which provided a spirited bidding battle. The telephone bidder who finally secured the car had test driven it a week previously in the Oxfordshire lanes so he could bid with absolute confidence. He was up against a couple in the audience who were equally keen to buy the car. The car finally sold for £131,300, well above the pre-sale estimate of £90,000 to £110,000.

James Knight said: “We received nothing but praise from clients, the car park was at capacity, regular clients had come from far and wide. But I was very pleasantly surprised at the number of new clients. This certainly bodes well for our June motorcycle sale.”

Auction info http://www.bonhams.com/cars