£100m haul of classic cars goes under the hammer

May 15, 2014

Your chance to buy Winston Churchill’s Austin or Lord Mountbatten’s Mini Traveller

A HUGE collection of historic classic cars, including an Austin once owned by Sir Winston Churchill, is up for sale with a reserve price of £100m.

Other cars in the collection, which featured in the Queen’s 80th birthday parade, include a Mini Traveller that belonged to Lord Mountbatten, a 1961 Jaguar E-Type, two 1954 Bentley Continentals and a Sinclair C5.

The seller, James Hull, who founded a chain of dentistry practices, started collecting the cars 35 years ago. He has put them up for sale for health reasons.

“There is a huge amount of interest from individual bidders and consortiums,” Hull told the Financial Times. “Whether [the collection is sold] to a national exhibition venue in the UK, or to a foreign bidder, I will insist upon it being kept together. Hopefully, it will end up staying here.”

The FT reports that the classic car market is booming in the UK, with particular interest in historic British marques such as Jaguar, Aston Martin, Bentley and Austin.

Earlier this year, research found that “passion assets” such as cars and fine watches has outperformed the stock market as an investment in recent years.

“Classic cars were the best-performing alternative investment, returning 257 per cent in the seven-and-a-half-year period [to mid-2013], while the value of classic watches surged 176 per cent and jewellery jumped 146 per cent,” the Daily Telegraph reported.

Click here for more about investing in classic cars and other 'passion assets'

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