Nothing gets an automobile connoisseur as excited as the history of a car since much of the price rests on its past. Who owned it? How many cars of the same model were made? How many races did it win and did it ever claim a notable Concours d’Elégance? Simply said, the reason for the record-breaking prices of our top 15 vintage cars is “historical significance.”
The vintage car market itself has been volatile for the last 20 years. In the late 1980s, a huge boom in demand, especially amongst new-wealth investors, saw record-breaking prices for even the most mundane of motors. However, the high prices drove enthusiasts from the market and, as a result, investors ended up selling on to other investors, making a collapse inevitable. The 1990s saw a return to more representative values but once again today, with a significant rise in personal wealth worldwide, prices are on the up.
Keep in mind, though, that the true value of a classic car is based on something that markets can’t dictate: happiness. When buying one of these old beauties just make sure it’s of great personal value to you. Classic may mean conventional in everyday speak, but when it comes to cars, you need to look for a set of wheels that appeal to you.
History has its greats like the pre-WWII grand cars such as the Bugattis, Bentleys and Duesenbergs, representing a now long-forgotten artisanship. Then again there are the European ‘golden era’ dual purpose sports cars that can just as easily be driven on the track as on roads. Ferraris, Maseratis and Aston Martins from the 1950s and 1960s fit the bill. For something a little more modern and with more muscle, American classics of the late 1960s and early 1970s are always a popular choice.
Whatever the case may be, a vintage automobile will never offer the dependability or even the speed of a modern car; and you better be prepared to spend on restoration and constant maintenance. But a truly classic car will be your very own remnant from history cherished by every onlooker you ever pass. That much can never be said of a modern car.
1st Place
Bugatti Royale Kellner Coupe – 1931
Auction price & date: 8.7 million USD in November 1987
Actual cost*: 16 million USD
Ettore Bugatti built just six of these enormously opulent Royales between 1929 and 1931. But for 40,000 USD – which by today’s standards is around 500,000 USD – even the wealthiest consumers of the period must have found the car very expensive. As a result, only three Royale’s were sold. All six are accounted for today and are still considered the out-and-out crème-de-la-crème by industry experts. It was sold in the UK by Christie’s.
2nd place
Bugatti Royale Berline de Voyager - 1931
Auction price & date: 6.5 million USD in June 1986
Actual cost*: 12.3 million USD
Once Ettore Bugatti's personal limousine, this vintage automobile was later among 1,400 cars owned by American car collector and Reno gaming magnate Bill Harrah. His extensive collection even included two Royales. After Harrah's death in 1984, the collection was largely dispersed in three auctions. This Royale was sold to Texan shopping centre tycoon Jerry Moore.
3rd place
Mercedes-Benz 38/250 SSK - 1929
Auction price & date: 7.4 million USD in September 2004
Actual cost*: 8.1 million USD
The purest sports car of its era, the SSK managed to sweep the podium at the 1927 German Grand Prix taking first, second and third places. Thirty-three cars were built but only a handful of the originals survived in mint condition. This coveted short-wheelbase model came fully documented, unrestored and still wearing its original coachwork. It was sold in the UK by Bonhams.
4th place
Ferrari 330 TRI/LM – 1962
Auction price & date: 6.5 million USD in August 2002
Actual cost*: 7.5 million USD
The 330 was the last Testa Rossa built and the last front-engine car to achieve outright victory at Le Mans. Phil Hill and Olivier Gendebien raced this vehicle to triumph in the 1962 endurance race. Experts believe that had the bodywork not been replaced then this car would have been crowned most expensive. The Testa Rossa was auctioned by RM Auctions in Monterey, California.
5th place
Ferrari 330 P3-1966
Auction Price & Date: 5.6 million USD in August 2000
Actual cost*: 6.8 million USD
Ferrari’s 330 P3 was built solely for racing and came with an all-new V-12 inside an aluminium semi-monocoque chassis body. Revered by many as the purest and most beautiful Ferrari, this vehicle finished third in a Ferrari 1-2-3 at the 1967 ‘24 Hours of Daytona’ behind two P4s. Following a long retirement, it was restored in 1999 and was sold a year later by Christie's in Pebble Beach, California.
6th place
Bentley Speed Six - 1930
Auction Price & Date: 5.1 million USD in July 2004
Actual cost*: 5.6 million USD
The sale of this car achieved two records: it was the most expensive British car ever sold and it earned the highest price ever for automobile in France. Bentley won Le Mans in 1924 and successively from 1927 to 1930. This Speed Six factory racer managed to finish second in the Le Mans Race in 1930. It is believed to be the most original and significant surviving Bentley of that era. Aptly, it was sold by Christie's at Le Mans, France.
7th place
Shelby Cobra Daytona Coupe - 1964
Auction Price & Date: 4.4 million USD in August 2000
Actual cost*: 5.3 million USD
Upon retiring from racing in 1959, Carroll Shelby went on to help design a string of successful and beautiful cars such as the Cobra, the GT40, the Mustang-based Shelby GT350 and the Dodge Viper. Only six streamlined Daytona Coupes were built to beat Ferrari in endurance races. This one (Shelby’s own car) cemented a World Championship in 1965 – a feat never again achieved by an American car. It was sold by RM Auctions in Monterey, California.
8th place
Duesenberg SJ Speedster - 1935
Auction price & date: 4.5 million USD in August 2004
Actual cost*: 4.9 million USD
Duesenbergs are regarded as the greatest pre-WWII American cars. The legendary company was only active from 1913 to 1937, but is still celebrated for its extremely high-quality, luxurious and fast roadsters. This particular one was built to set land-speed records and achieved exactly that. Nicknamed the ‘Mormon Meteor’, it averaged 218km/h (including pitstops) over 24 hours at the Bonneville Salt Flats. It was sold by Gooding & Company at Pebble Beach, California.
9th place
GM Futurliner - 1953
Auction price & date of sale: 4.3 million USD in January 2006
Actual cost*: 4.4 million USD
The GM Futurliners were a group of stylised buses which appeared in the ‘Parade of Progress’, showcasing new cars and technology. A total of 12 were built, and nine are still known to exist. This fully functioning Futurliner #11 cost a hefty 300,000 USD to restore, but no one expected it to reach its final selling price. It was sold to a collector of American concept vehicles of that era by auction house Barrett-Jackson in Scottsdale, Arizona.
10th place
Alfa Romeo 8C 2900 - 1937
Price & date of sale: 4.1 million USD in August 1999
Actual cost*: 5.1 million USD
Featuring the most successful engine of the 1930s, this Alfa 8-cylinder was made up of two 4-cylinder engines with twin overhead camshafts. The 8C garnered numerous Grand Prix wins, scored well at Le Mans and prestigiously won a 1-2-3 at the 1936 Mille Miglia. Only 33 models were manufactured. This racer was later re-bodied as an elegant cabriolet by Pininfarina. It was sold by Christie's at Pebble Beach, California.
11th place
Ferrari 275 GTS/4 NART Spyder - 1967
Price & date of sale: 4 million USD in August 2005
Actual cost*: 4.3 million USD
This niche car was aimed at the American market. The first of ten produced, and one of only two built with a lightweight aluminium body, it took second place in its category at the ‘12 Hours of Sebring’ in 1967 boasting an all female driving team. This Spyder was also featured in the 1968 movie The Thomas Crown Affair. Motor Trend Classic named the 275 GTS as number three in their list of the ten "Greatest Ferraris of all time". It was sold by Gooding & Company at Pebble Beach, California.
12th place
Talbot-Lago T150C SS – 1938
Price & date of sale: 3.9 million USD in January 2006
Actual cost*: 4.0 million USD
14th place
Talbot-Lago T150C ‘Jeancart’ – 1938
Price & date of sale: 3.7 million USD in August 2005
Actual cost*: 3.9 million USD
Designed by Figoni et Falaschi, the Talbot-Lago Teardrop redefined automotive style while winning top-level races. Combining racing functionality and elegant form, the Teardrop motivated many manufacturers to consider a more streamline design. One of the most expensive cars in its day, only sixteen were completed. Three examples were sold in 2005 and 2006, each for more than 3.5 million USD. The 14th position vehicle, sold by RM auctions in Monterey California, is recognisably unique for its notched back with cat-eye rear windows and its longer chassis allowing for more luggage space and two rear jump seats. The 12th position vehicle, sold by Gooding & Company in Palm Beach Florida, is the only Teardrop ever built specifically for competition. It took part in the 1939 Le Mans Race and is a lavishly trimmed and detailed Concours winner.
13th place
Ferrari 410 Sport Spider - 1956
Price: 3.8 million USD in August 2001
Actual cost*: 4.46 million USD
Specifically designed to win the famed Mexican Carrera Panamericana road race in 1956, only two of these cars were made. Safety concerns forced the Mexican President to cancel the race that same year foiling Ferrari’s hopes of an all-out win. The Scaglietti 410 Sport Spider’s low and wide coachwork set precedents which would pave the way for the 290 MM, 860 Monza and Testa Rossa. It was sold by RM Auctions in Monterey, California.
15 th place
Mercedes-Benz 540K Special Roadster - 1937
Price & date of sale: 3.6 million USD in January 2002
Actual cost*: 4.16 million USD
The 540K is exceptional for its perfect blend of size, performance and style. Only 26 were made with six created in the long-tail style with a cover over the single spare tire recessed into the rear deck. This car was bought at the 1937 Berlin Motor Show by Warner Brothers Studios for its president Jack Warner. The car changed hands twice before undergoing extensive restoration and winning the prestigious Pebble Beach Concours d'Elégance under its present ownership. It was sold by RM Auctions in Phoenix, Arizona.
* All actual costs are the 2007 equivalent of the price paid taking into account inflation.
