As part of the activities surrounding the Prescott Hillclimb, Silverstone Auctions also organized an auction, which took place on 5 August 2022 at "The Lygon Arms" around 100 miles northwest of London, just under 12 miles northeast of the Prescott Hill Climb.
On offer were almost exclusively pre-war vehicles with an average age of over 91 years, namely 32 automobiles and two motorcycles. There were also 82 automobile lots. The open-air auction lasted around 2 hours 20 minutes.
Less than 40 percent sold
Only 13 of the 34 vehicles were sold. Instead of the expected £2.5 million, the sale only generated £1.045 million (including surcharge/commission).
The highest bids were below expectations in all cases except for the 1928 AKD Model 10 1 3/4 HP motorcycle. On average, 76 percent of the median estimate was bid.
An almost exclusively British affair
24 brands were represented at the auction on August 5, 2022, most of them from the USA. Lagonda and Alvis were represented with three cars, Bentley, Austin, MG, Morgan and Riley with two each.
Six cars came from the United States of America, they were produced by Hupmobile, Dort, De Soto Graham Page and Stutz. 50 percent of the Americans were sold.
One car was of Italian provenance, a 1925 Lancia Lambda, but it could not be sold.
Two valuable Bentley
The two most valuable cars in the auction bore Bentley trademarks. The Bentley 8-Litre Tourer from 1931 was previously estimated at £ 600,000 to £ 800,000. It originally had a "Folding concealed head Coupé" body by Thrupp & Maberley, but in the 1970s the car, which still has the original engine, was converted into a four-seater open tourer.
Now, for the first time in 35 years, it changed hands for £585,000 (including surcharge/commission), which was considerably less than expected.
The second Bentley, a 4 1/4-liter Parallel-Door Drophead Coupé from 1937 with bodywork by James Young, was not sold at all. The vendor had purchased the car at auction as a restoration object in 2013 and then had it resurrected regardless of the costs, a highly exciting project that would be worth an article of its own.
The B172 KT was estimated at a reasonable £250,000 to £300,000 in view of the investment, but no interested party was willing to bid more than £200,000, meaning the car remained unsold.
Cheap cars
The cars that could be sold went to new owners for comparatively little money.
The 1936 Triumph Gloria Twelve Four-seat Tourer in particular was certainly a good deal in view of its recently completed restoration, as £21,375 was enough to acquire the very rare convertible.
But the Lagonda V12 Sports Saloon from 1939 was certainly not overpriced at £ 78,750, nor was the Jaguar Mk IV 2.5-liter Saloon from 1946, which cost £ 32,625.
But other cars that were not sold were also offered with attractive estimates. The two attractive Riley 9 Monaco from 1929 and 1934, for example, were both in the catalog for well under £ 20,000, bidding £ 8,000 and £ 12,000.
Rarities such as the BSA TA11 from 1923 (highest bid £ 8,000) or the Essex Super Six from 1927 (highest bid £ 12,000) were also valued favorably, but still did not find a buyer.
What was the problem?
Silverstone Auctions was not really successful with the sale of "The Lygon Arms". Whether the looming recession, rising energy prices, the tangible consequences of Brexit and the war in Ukraine or simply the waning enthusiasm for pre-war cars played a major role here cannot be conclusively assessed. What is clearly visible, however, is the generational shift that is particularly noticeable at Silverstone Auctions, whose clientele is likely to be significantly younger than that of Bonhams, for example, which simply makes the sale of very old cars more difficult.
A little more promotion for the auction might have helped, however, as some cars might have found a buyer on the continent after all, especially as the highest bids were not that far off expectations. An additional bidder would have been enough for one or two lots.
Offered and Sold Vehicles
The following table lists all offered and sold vehicles with estimated prices, highest bids, and sale prices. The price conversion was made at the exchange rate valid on the auction day. All information is provided without guarantee.
| Lot | Car | Year | £ Est from | £ Est to | £ HP | £ SP | CHF SP | EUR SP | % Est | S |
|---|---|---|---|---|---|---|---|---|---|---|
| 901 | AKD Model 10 1¾hp | 1928 | 5000 | 7000 | 6500 | 7312 | 8481 | 8701 | +21.87%
|
V |
| 902 | Austin 12/4 Shooting Brake | 1935 | 6000 | 10'000 | 5800 | 6525 | 7568 | 7764 | -18.44%
|
V |
| 903 | Hupmobile Model A4 Coupe | 1927 | 8000 | 12'000 | 9800 | 11'025 | 12'789 | 13'119 | +10.25%
|
V |
| 904 | Dort Touring Model 5 | 1916 | 10'000 | 15'000 | 8500 | 9562 | 11'091 | 11'378 | -23.5%
|
V |
| 905 | Talbot-Darracq V20 16hp Tourer | 1921 | 18'000 | 22'000 | 15'000 | N | ||||
| 906 | Austin Sixteen, Light-Six Doctors Coupé | 1928 | 15'000 | 20'000 | 13'000 | N | ||||
| 907 | Bentley 4¼-Litre Parallel-Door Drophead Coupé by James Young | 1937 | 250'000 | 300'000 | 200'000 | N |
All information is provided without guarantee.
Legend: Column S = Status (V = Sold, N = Not sold, Z = Withdrawn, U = Under reserve)
Est = Estimate, HP = Hammer Price, SP = Sale Price
