In a month when we’ve seen more than twice as many classic models growing in price as those falling, we’re also seeing much return to growth in ‘blue-chip’ cars. It’s a term borrowed from the stock market world to sum up shares with strong reputations that are well known, dependably good financial performers and have popular appeal as investments. In the old car world, it’s often applied to the £0.6-1.6m sector typified by Ferrari F40s, Aston Martin DB4-6 convertibles, Mercedes 300SL ‘Gullwings’ and Roadsters– the darlings of the high-end auction scene.
For those reasons though, such cars tend to be at the forefront of investor-collector confidence, being the first to climb or fall. Since the peak six or seven years ago, this sector has been sliding backwards, but the latest round of sales shows more signs of the trend reversing. This issue’s Price Guide Movers On The Up table shows strong growth for Mercedes ‘Gullwings’, up 14% to give a price spread of £700k to £1.2m, depending on condition, though that range doesn’t cover timewarp originals or those with super-low mileages or significant celebrity ownership. Those sorts of examples usually give outlying results that fool the unwary into thinking that the whole market for the model has moved. One swallow doesn’t make a spring, and all that.
Other strong climbers in the company include Ferrari 250GT SWBs, Mercedes 300SL Roadsters, Aston Martin DB5 Convertibles and Bugattis Veyron and EB110, up between 7.7% and 11%.
To meet the blue chip dependable investments criterion, the term is perhaps better applied to the next level of collectability and rarity typified by that Ferrari 250GT Short Wheelbase and old sparring partners like the Aston Martin DB4GT Zagato. Such cars tend to better weather the storm of fashion.