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Top 10: High-value auction buys of 2014

There have been some eye-watering prices paid for some of the world’s most desirable classics over the last few months, including almost £23 million for a 1962 Ferrari 250 GTO. The most iconic models from marques like Lamborghini, Aston Martin and Ferrari are fetching record sums when they go to auction, adding fuel to the fire of soaring classic car prices.

But will this ‘boom’ be followed by ‘bust’ at some point soon? Auctioneers tell us that high-end buyers are using their own (rather than borrowed) money nowadays, seeing classics as a sound investment, and demand is likely to remain high. Let’s take a look at ten of the highest achievers of 2014

By Paul Guinness, Contributor

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1967 Ferrari 275 GTB/4 – £6,000,000

Fetching roughly four times the price of a regular example in similar condition was this Ferrari 275 GTB/4, bought new by Steve McQueen and owned by him for its first four years. Recently fully restored by Ferrari to as-new condition, the car attracted frenzied bidding when it went under the hammer at the RM Auctions sale in California.

Max Girardo, managing director of RM Auctions in Europe, commented: “The Steve McQueen factor is simply immeasurable. There is nothing better to spend your money on than a Steve McQueen Ferrari.”  Assuming you have £6m to spend, of course…

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