Classic Sporting Cars In Demand At MotorEx

SYDNEY – July 27, 2010: Classic sporting cars were in high demand at Shannons Custom & Collectable Vehicle Auction at Meguiar’s MotorEx on July 25, with top prices paid for quality V8-engined vehicles with the right nameplates.

A brace of virtually brand new V8-engined MS8 Elfin sports cars with only nominal kilometres covered offered on behalf of an investment company made keen buying, with the silver 2007 model Clubman selling for $65,000 and the orange 2008-model MS8 Streamliner making an even-healthier $69,000.

A two-owner, low mileage 1978 Morgan Plus 8 Roadster in good condition brought applause from the 500-strong crowd when it sold on estimate for $71,000, while a 1998-model TVR Griffith 500S Convertible regarded as a rare example in Australia, made $50,000.

Amongst the other V8-engined sporting cars, a one-owner 1976 Holden HX LE Monaro that had covered 291,000km since new brought an impressive $37,400 – exactly the same as a beautiful Signal Red 1986 Mercedes-Benz 560SL that had covered just 143,800km.

Not a V8, but even faster was the very original, black Australian-delivered Nissan R32 GT-R first owned by Orbital Engine Corporation founder Ralph Sarich that sold for $45,000.

The 1991-model GT-R was one of just 100 R32 ‘Godzilla’ four wheel drive twin turbo coupes imported and sold by Nissan Australia in the early 1990s and was untouched and unmodified with less than 100,000km showing.

Jaguar enthusiasts were onto the restored British Racing Green 1972 Jaguar E Type V12 Coupe with three-speed automatic transmission, which sold for $53,000.

Budget classic sports car buyers were also catered for, with an Australian-delivered 1970 MG Midget MkIII Roadster presented in good condition with 43,200 miles, believed genuine, on its odometer, selling with no reserve for $6,800.

Shannons National Auction Manager Christophe Boribon said the MotorEx auction, which generated almost $700,000 in sales, showed that there is strong market demand for correct, high-quality cars with reasonable asking prices.

“The buyers are out there, but they are cautious and are spending wisely on dependable nameplates worn by vehicles in top condition with excellent provenance,” he said. “And, as always, good V8-engined cars are always popular!”