Seems like heavy stuff is still an attractive place for beleagured funds in this jittery economic environment. For those who are above mundane considerations such as mortgages etc - collector cars are proving to be an attractive safe haven for funds - exactly in the same way as Fine Art. However the "new" exotic end of the market (430's, Gallardos, Aston's etc) - many of the cars of which seem to be funded with finance are going nowhere other than south - fast?
Anyway a Coys release below gives us an opportunity to use a nice pic of a Lusso which sold well last month. Also notice the mega money for the vw camper - £70k!!!
Bugatti looked cheap too....
PR below:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Ferrari 250 GT Lusso steals the show in Padova
A 1963 Ferrari 250 GT Lusso was the star of the show at COYS Padova Auction in Italy on October 25th when it sold for £430,000.
The company, which dominates the general car auction market in Italy, had fielded over 100 cars for the auction, which was part of the Auto Moto d’ Epoca show, which takes place at the Fiera di Padova, every year.
The Lusso had originally been sold through Chinetti Motors in March 1963 before passing to a well-known European collector. During the late 1990’s the car was subjected to a precise restoration process with engine, gearbox, brakes and ignition being fully rebuilt by Modena Motorsport in Germany.
Chris Routledge the Managing Director of COYS said: “We had a good sale in Padova especially in view of the current economic climate. The auction room was packed with buyers from all across Italy as well as the rest of Europe and the United States. Padova is an important auction venue because it coincides with Auto Moto d’Epoca, which attracts visitors from all over the world.
Other notable cars, which sold well at the auction, were:
Lot 175 a 1950 Maserati A6 1500 Coupe that sold for £351,600. The A6 was first unveiled at the 1947 Geneva motor show and heralded Maserati’s entry into the field of mass production.
COYS have a reputation for selling film cars and the Padova sale was no exception with a 1964 Ford Thunderbird from the film Thelma and Louise and in great condition selling for £30,000
A Bugatti Type 37A Grand Prix restoration project received bids from all over the world and eventually sold for £98,200. It was a rare opportunity to acquire a Bugatti restoration project combining many of the original components and most of the necessary parts to complete the rebuild.
There was fierce bidding for a 1958 one owner from new Volkswagen type 2 Samba with 23 windows that was eventually sold to a UK bidder for £70,200.
Chris Routledge added: “ We will be back in Padova again next year and we are looking forward to our Christmas True Greats auction which takes place in London on December 4th at the Royal Horticultural Halls.”
