Bonhams’ new MPH division held its first auction at Bicester Heritage yesterday (September 26). It’s aimed at more affordable and modern classic cars – a strong market at present. That’s reflected in the results, with 82 percent of the cars selling for more than their reserve price.
The star was a 1993 Ford Escort RS Cosworth, which sold for £49,500 in the MPH sale. With 38,000 miles on the clock, the vendor had owned it for over 20 years.
Another highlight, more than 10 years the Cosworth’s junior, was a Renault Clio V6. Being a 2006 model, it was one of the latest examples of Renault’s mid-engined hot hatch. It sold for an impressive £37,125
Barmy Land Rover army
Three ex-military Land Rovers also sold well. Sold as the ‘Elite’ collection, two Defender 110 V8s and a Series 2a from 1968 collectively topped £140,000 in the MPH sale. Not that you’d recognise them as Defenders, given they’re covered head-to-toe in heavy-duty military gear.
One of the Defenders, a 1993 model, was ex-SAS. It sold for £49,500, while the other, a 1985 car, managed £48,375. The 1968 Series 2a 109 went for £47,250.
“Today’s sale proves that there is an increasing appetite for ‘youngtimers’ in the market,” said Rob Hubbard, head of Bonhams MPH.
“Drivers who remember such ‘poster’ cars from their childhood are now coming of age and have the means to buy their youthful ‘dream cars’. They also offer more driver engagement and character, compared with brand new cars, but are more reliable than older classic cars.
“We are delighted that we have had such a positive reaction to our new venture. We are pleased to be able to offer the traditional Bonhams values to a wider audience and are already looking forward to our next sale.”
The next MPH sale will take place on 26 November, with cars being consigned now. The next valuation day will take place on 25 October, when sellers can present their cars to the MPH team.