Classic cars worth £8 million attract city investors

More than £8 million worth of classic cars will be auctioned in London before Christmas and the sale is attracting investors from all over the world.

The cars are to be auctioned by classic car auction house COYS, at their True Greats sale to be held at the Royal Horticultural Halls in Westminster on December 7th.

“This will be the biggest classic car auction in London this Christmas,” said the Managing Director of COYS, Chris Routledge: “we are seeing a lot of interest from investors in the City and elsewhere.”

A huge variety of cars will be on offer, including a 1958 250 GT LWB Ferrari which is expected to fetch between £800,000 and £1 million. A 1930 Rolls-Royce Phantom II Tourer by Barker is expected to fetch £180,000 to £200,000. It was once owned by Mrs Katharine McCormick, the women who financed the development of the birth control pill, and who purchased it from Barker’s in South Audley Street.

“These are the ultimate Christmas presents,” said Chris Routledge, “But they are Christmas presents that will go up in value and are excellent investments for the future which is why they are attracting interest from people in the City.”