Before Christmas we shared what cars US-based auction house Hagerty though would be the classic cars to watch at auction in 2023, so today we thought we'd let you into what the experts at UK-based auction house Silverstone Auctions had their eyes on for 2023.
Like Hagerty, Silverstone Auctions is a world-spanning specialist auction house for the sale of classic cars, modern supercars, all types of competition cars, modern and historic motorcycles as well as automotive memorabilia and became the UK's market leading classic car auction house in 2020.
The company also holds the exclusive automotive auction rights for Silverstone circuit and host sales as stand-alone events as well as an integrated element of some of Europe's biggest motorsport events such as the Silverstone Classic Festival.
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As the challenging economic situation looks likely to continue into next year, so the effect it may have on the Classic Car Market for 2023 is still an unknown, but Silverstone Auctions consigners highlight what they think the cars to watch will be this year.
M3s, Evos and, yes, Porsches.
“For 2023 I would say keep an eye on any sports cars that carry their DNA from the golden era of motorsport and rallying - all M3s, RS500, 190E Cosworth, Integrale Evos, special edition Subaru and Mitsubishi P1, 22bs, TME etc," said Steven Keen, one of Silverstone Auctions' consignors.
"I also think that Fast Fords will continue in popularity, however buyers are becoming increasingly careful with cars from the 60s, 70s and 80s needing to be preserved and original or very well restored and correct in all details to really ring the bell."
Keen also expected Porsche Turbos to do well in 2023, especially Type-964, saying "for me the original GT3 RS is a must have for any serious collection."
He also thought a right-drive Ferrari Testarossa should command a real premium - especially the early single mirror examples - while the 550 Maranello, a right-drive Challenge Stradale and 430 Scuderia are also all looking strong as a future classics.
Hot hatches and Homologation specials.
Another Silverstone Auctions' consignor, Richard Greenhalgh, suggested that hot hatches were on the rise, saying that "early and exceptional" examples of the legendary Renault Clio Williams have "really moved on this year, together with lots of other hot hatches such as the XR2s, Citroen Saxo VTs to name a few."
Greenhalgh said that examples with low milage had made very good prices at auctions in 2022, and that he expected to see that trend continuing in 2023, along with an appetite for Ford Sierra RS Cosworths and Audi Quattros.
"The JDM, 80s/90s homologations specials have performed strongly this year (2022) and we believe still have legs to go further, along with special competition cars with period history, especially Impreza rally cars," he said.
Pre-war classics and more M3s and Porsches.
Rob Hubbard, Sales Director at Silverstone Auctions has a love of pre-war cars and says 2023 may also see a resurgence of interest in the pre-war market, as collectors can see the amazing early engineering and have access to many events to enjoy.
"The BMW E46 M3 is still undervalued, as too are the Porsche 997s," said Hubbard. "These are also ones to watch in 2023."
"Hubbard noted that with the drop in the UK pound and the strength of the Euro and US Dollar, the demand for left-hand drive vehicles is also increasing and that there appears to be a healthy buyer group eager to enjoy classic car ownership.
The old rule still applies: provenance, provenance, provenance!
Lionel Abbott, another Silverstone consigner, pointed out that the old rule still applies: "the best of breed cars made in limited numbers, in high quality condition and with genuine provenance will always achieve great results."
Abbott said that there is still a robust demand for the right cars and the Princes Diana Escort, that Silverstone Auctions sold at the Silverstone Classic Sale back in the summer is the perfect example of that.
"It was a ‘one of one’ car with special provenance, marketed globally, presented to view at a well-attended and high-profile event which helped create the special atmosphere in the room and the result of all this was a price achieved that will go down in the record books," he said.
Princess Diana’s black Ford Escort RS Turbo sold for a world record price of £730,000 (NZ$1.4 million).
Likely to be another example of that is a vehicle that Silverstone Auctions will be putting under the hammer next month: a 1953 Land Rover delivered to Queen Elizabeth II shortly after her coronation.
Silverstone Auctions says the Land Rover was built in late 1953 and registered on the Royal number sequence NXN 1 in early 1954, the 11th example from that year. While it has a production chassis number it is actually considered a pre-production build and boasts a number of unique features, including the doors, body, roof, bumpers and twin rear doors.
Delivered to Stratstone, London, on the 3rd July 1953, the newly proclaimed Queen had the Land Rover shipped to her Balmoral Estate where it was exclusively used by the Queen, the Queen Mother, Prince Phillip and Prince Charles until 1966 when it was purchased and re-registered LXC 894D by its current owner who stored it in their family garage for a number of years.
According to rumour King Charles III (then the Prince of Wales) is said to have recognised the Land Rover and, as a gift, funded and encouraged it’s exacting restoration to the immaculate state it is in today.
Silverstone Auctions say that the Land Rover was featured on BBC’s Antiques Roadshow and also led the Land Rover parade at the Queen's Jubilee Pageant last year.
“It’s not often that a vehicle with such impressive Royal provenance like this is offered publicly for sale," said Rob Hubbard.
"It’s special features and Royal connections make it exceptionally interesting. This Land Rover would doubtless have been used extensively on the Balmoral estate where we know the Royals loved to picnic. It would have been a familiar and much-loved part of Her Majesty and Prince Philip’s private lives.”
The Land Rover will go up for auction on the 25th of February 2023 at Stoneleigh Park in the UK.
