I’ve been meaning to put together an article on the state of the market for Rad-era British classics since I wrote my previous article on values for older British vehicles. Fortuitously, a large auction held in the UK over the weekend gives us some recent context for this analysis. In today’s Market Monday, I’ll be reviewing the results for 5 modern British classics from the Iconic Auctioneers Iconic Sale at the NEC Classic. I’ll assess the state of the market as of this writing, plus cover some bonus content from this year’s event.

For the 14th year, Iconic Auctioneers has curated a few hundred cars and a similar number of motorcycles for its Iconic Sale at the NEC Classic Motor Show. The show itself takes place in Birmingham in the United Kingdom and offers car displays, celebrity meet and greets, hands-on activities and more to celebrate classic motoring.

This year’s sale included the typical collection of historic race cars, classics and supercars. Highlighted sales are Rowan Atkinson’s screen-used 1963 Jaguar E-Type Series 1 Coupe from Man vs Bee and a small collection of cars and motorcycles sold by Harry Metcalfe of the Harry’s Garage YouTube series. For Porsche fans who drive on the wrong side of the road, an exceedingly rare right-hand drive Porsche 993 Turbo Cabriolet was one of the highest-dollar lots on offer. New this year was The Classic Sale, which brought together almost 200 attainable vehicles ranging from pre-war to modern classics and everything in between.

In total, Iconic Auctioneers consigned 147 special cars for their Iconic Sale, 111 of which managed to sell at the drop of the auctioneer’s hammer. Total sell-through rate was 76% and overall volume was around $9 million. First-year results for The Classic Sale were respectable, with 153 car lots out of a total of 189 finding new homes for a sell-through rate of 81% and a total haul for the auction house of $2.9 million.

As in my previous article, I’ve selected 5 vehicles to represent a cross-section of the modern British classics market. For this study, I’m looking at cars that are at least 25 years old, which covers cars from 2000 and before with a cutoff at 1980. Luckily, Iconic Auctioneer’s Iconic Sale featured one of pretty much every car I’d choose as a benchmark, except for a McLaren F1. The F1 rarely comes to market, so in this case I selected a British car that is well known among enthusiasts and frequently appears at auction.

A genuine rally car finished in eye-catching and desirable Rothman’s livery, this 1985 MG Metro 6R4 was raced by Finnish driver Mika Arpiainen in the 1986 Rally of 1000 Lakes. With a well-known racing history and fully restored, it’s one of the best ones I’ve seen hit the market in recent years. The car sold for £219,375 against an estimate of £240-280,000.

Finished in a stunning combination of Titanium Silver metallic over red leather, this gorgeous Series 4 1998 Lotus Esprit 3.5 V8 SE was treated to £40,000 of refurbishment and mechanical improvements. The Esprit received a V8 engine in 1996, with the SE and GT debuting in 1998. The SE was the more luxurious of the two specs, and could sprint from 0-60mph in 4.1 seconds, making it a potent sports car for the time. The car failed to sell and is now offered as a post-auction private sale for £46,000.

A big engine crammed in a small package is usually a reliable recipe for a valuable classic, and that’s been true for the Aston Martin V12 Vantage for some time now. This particular 2011 V12 Vantage features a manual transmission and a Stage III engine upgrade from Aston experts Bamford Rose. It’s now pumping out a massive 590 horsepower. The car sold for £61,875 against an estimate of £60-70,000.

Launched in 1996, the second-generation Range Rover was designed to improve on the first-gen Classic and move the vehicle more upmarket. This is the last Range Rover to feature the Rover V8 engine and the final Range Rover to use Connolly leather in its interior. Reviews at the time were mixed, but many believe the P38 to be an underrated gem. This 1999 Range Rover P38 is finished in gorgeous Rioja red and is basically new with just 8,139 miles on the odometer. It hammered for £32,625 against an estimate of £25-30,000.

The Continental R was built from 1991 to 2003 putting it well in modern classic territory. It has the distinction of being not only the fastest and most powerful Bentley to that point, it was also the first Bentley to not share a platform with Rolls-Royce. This example, a 2001 Bentley Continental R, is a Mulliner edition with the spaciousness of the R but the more powerful engine of the Continental T. This example appears to be in good condition, especially the interior, and sold for £49,500 against an estimate of £50-60,000.

Looking at our cross-section of modern British classics, the news is pretty positive, actually. Values for the past 5 years have been pretty flat, with the exception of the MG Metro 6R4. For that car, I believe the variation in value is mostly due to the limited number of cars that come to market, paired with a large variance in provenance and condition.

NOTE: I felt compelled to add a Jaguar to the index — despite my predilection for odd numbered lists — so I added the Jaguar XK8. While no modern Jags were sold at Iconic Auctioneers Iconic Sale, they were represented at The Classic Sale.

Looking at percentage change YOY, the picture changes a bit. Values for Jaguar XK8s has declined 11% in the last year. That steep negative trend makes the 2% loss for the Aston Martin V12 Vantage look pretty tame by comparison. The other cars all saw gains over the same period, suggesting strength in modern British cars overall. I’m sure that’s not much comfort to XK owners, but it’s great news for buyers.

Former EVO Magazine editor and founder Harry Metcalfe is perhaps best known for his YouTube channel Harry’s Garage, where he reviews new and classic cars and shares his own personal collecting journey. At this year’s Iconic Auctioneers Iconic Sale, Harry consigned 3 of his own cars for sale, each of which has been covered on either Harry’s Garage or Harry’s Farm. Here’s how they did.

The story of this car’s transformation is perhaps one of the most loved and documented on YouTube. Originally a somewhat rusty blue XJC V12 with an automatic transmission, the car is now a Minotaur Green 5-speed rocket. The car sold for an astonishing £157,500 against an estimate of £60-80,000. Already a rare car, this XJC V12 is probably the best in the world and worthy of this price.

One of the first cars Harry featured on his channel is his family’s long-term owned Series 1 Land Rover. Harry lives on a farm, and this Series 1 has been his “motorized wheelbarrow” for countless jobs around the estate. Far from a garage queen, this car shows loads of evidence of its use and patina. You’re likely buying a literal piece of Harry’s Farm with this acquisition. The rustic off-roader sold for £17,438 against an estimate of £10-12,000.

On Harry’s Garage, a popular staple are his long tours across Europe. One of Harry’s favorite cars to take on such a Gentleman’s Journey is his 1971 Lamborghini Espada. Lavished in recent years with loving restoration and a performance-oriented complete rebuild of the GT’s 3.9-liter V12. The car is also uniquely equipped with a prototype-inspired large panoramic roof. A concours winner, the car sold for£132,750 against an estimate of £90-110,000.

Hagerty’s recent quarterly market index update confirms what I’ve seen for the last 6 months or so: the market is generally flat with mixed results across various indexes. It’s one of the reasons I’m doing deep-dives on specific slices of the market, such as British classics. As collectors, we don’t buy markets, we buy cars, so it’s more useful for buyers and sellers to look at the trends on a car by car basis.

Results for Rad-Era British classics seem to follow the general upward trend for many cars from this period. The most frequently cited reason for this behavior is shifting demographics, and that’s the most likely culprit. One other potential factor could be the rising costs of restoring a classic, coupled with their already high prices. For the middle class of enthusiasts who are squeezed more than ever, modern classics might make it easier to find a car you’ve always wanted at a reasonable price.

Does this analysis track with your observations of the market? Let me know in the comments!

Wolf and Mare provides car finding, appraisals, and auction services for buyers and sellers of collector European cars. If you’re interested in acquiring an overseas car, give us a call or drop a line!