The most expensive classic car sold at last week’s mega auction

Out of the 115 collector cars that rolled over the auction blocks during this past weekend’s Creative Rides auction at Montecasino in Johannesburg, a rare 1968 Ferrari 365 GT 2+2 was crowned the most expensive vehicle sold with the hammer falling on R2.79 million.

This is nearly double the R1.6 million that the 1998 Ferrari 550 Maranello in second place fetched.

However, while Ferraris took home the first and second trophies, according to Creative Rides CEO Kevin Derrick, “the marathon auction’s most popular cars by far, as measured by registration numbers per lot and the ferocity of bidding, were South African-built classics such as a 1984 Alfa Romeo GTV6 3L and American muscle cars.”

The Alfa in question achieved the highest ever South African auction price for a vehicle of its kind, at R1.18 million.

Results

The top hammer prices for Saturday’s auction are as follows:

1. 1968 Ferrari 365 GT 2+2 – R2,790,000
2. 1998 Ferrari 550 Maranello – R1,600,000
3. 1960 Chevrolet Corvette – R1,440,000
4. 2013 Ford Mustang 302 – R1,350,000
5. 1989 Ferrari GTS – R1,250,000
6. 1972 Jaguar E-Type V12 – R1,240,000
7. 1984 Alfa Romeo GTV6 3L – R1,180,000
8. 2016 Ford Mustang GT Supercharged – R1,100,000
9. 1948 Chevrolet V8 Pickup and 1968 Chevrolet Camaro SS – R930,000
10. 1967 Ford Mustang Fastback – R910,000

These sale prices beat Creative Rides’ previous auction record by a whopping R1.69 million.

All the vehicles that went on sale came from South African collections, with 90% staying in the country while the remaining 10% are now awaiting shipment to their new overseas owners.

American muscle were undoubtedly the favourites among local buyers with these vehicles claiming six out of the top 11 highest-grossing spots.

There’s a massive appetite for iconic muscle cars in South Africa that is growing every year, said Derrick, with investment collectors keeping the trade alive in this crowd.

“We’re delighted with Saturday’s event, which was an unmitigated success on all fronts,” he said.

“Hundreds of bidders from five continents participated in the sale that drew a live audience of approximately 1,000 people through the course of the day.”

The event also reached an online live-stream audience of more than 8,000 viewers across 16 countries, and the company said it’s already received interest in its next auction.