Setting the scene, imagine this: Sitting patiently in the auction room, you eagerly await your turn to bid on the car that has captured your interest. As other lots are auctioned off, you carefully calculate your maximum bid in your mind.
The auctioneer begins the bidding, and hands immediately shoot up in excitement as the price increases incrementally. You raise your bid paddle every so often to stay in the race, engaging in a strategic mental battle with other bidders who share the same desire for the car.
As the bidding price rises, the pace slows down, but the auctioneer remains enthusiastic, coaxing bids from those still in the running. The room falls silent as the gavel is raised and swiftly strikes the wooden block. SOLD! This is the process that will repeat throughout the day.
At the recent Silverstone Festival, our attention was focused on two specific cars: a Ford Escort RS Cosworth Group N rally car with minimal mileage, and Colin Mc Rae Subaru WRX STi 22B
The Cars:
Let’s begin with the Escort. With only 703 miles on the odometer, the Escort looked pristine and untouched. As one of the first 2,500 homologation cars, the original buyer had the option to select a motorsport variant, which meant a stripped-down shell with reinforced structure, devoid of any luxury features. It was then fitted with a range of Ford Motorsport 909 parts, creating a formidable rally car.
In 1993, the car was exported to Jakarta, Indonesia, where it remained dormant. Early 2000s it was again sold and shipped to Australia.
The car changed hands once more in 2021 and was finally recommissioned to its current condition.
Despite having a guide price of £160,000-£200,000, the Escort failed to meet its reserve price during the auction. However, it was later sold privately for an undisclosed amount.
Moving on to the road cars auction, one car in particular attracted significant interest and high bids.
Colin McRae, a legendary figure in motorsport, needs no introduction. The sale of his Subaru Impreza WRX STi 22B garnered immense speculation and discussion regarding its potential selling price.
Only 399 production cars of the 22B were sold in Japan, with an additional 25 export cars, including 16 modified for the United Kingdom. McRae’s car was one of three prototypes with the unique designation of 000/400.
The other two went to Nicky Grist (McRae’s co-driver) and David Lapworth (former team boss of the Subaru World Rally Team).
These three prototypes were JDM-spec models, featuring km/h speedometers, a 4.44 final drive, and other subtle differences. Despite McRae’s reputation as an intense driver, the 22B had covered fewer than 11,000km and was in exceptional condition.
Record Breaker:
Bidding for the 22B started at £280,000 and gradually increased, with intense back-and-forth exchanges between two phone bidders in the final rounds.
As the price reached £400,000, the pace slowed down significantly, amplifying the mental chess game between the bidders.
After a few more bids, the price settled at £430,000 plus fees, sparking a wave of cheers throughout the room. This sale set a new record for a 22B, surpassing the previous record of US$317,555 (including fees) achieved last year. In comparison, the ex-McRae 22B sold for US$593,187 (including fees). Clearly, the provenance of the car played a significant role in its value. A car like this is truly a once-in-a-lifetime opportunity. There is no doubt that the new owner is overjoyed, while someone else may forever wonder if placing that one extra bid could have secured this extraordinary 22B for their own garage.
In conclusion
The auction experience is a thrilling game of strategy and anticipation, where enthusiasts gather to compete for their dream cars.
The recent Silverstone Festival showcased two remarkable vehicles.
The low-mileage Ford Escort RS Cosworth Group N rally car.
Colin McRae’s iconic Subaru Impreza WRX STi 22B.
While the Escort may not have met its reserve price, it eventually found a new owner through private negotiations.
On the other hand, the 22B achieved a record-breaking sale price, highlighting the significance of its famous former owner and exceptional condition.
These events are not only opportunities to acquire highly sought-after vehicles, but also moments that ignite passion and excitement among car enthusiasts worldwide.