A collection of classic cars valued at £100 million is going under the hammer at auction, including a vehicle owned by Winston Churchill.
An Austin once owned by the former Prime Minister is just one of the vehicles within the huge collection up for sale. Other cars in the collection, which featured in the Queen’s 80th birthday parade, include a Mini Traveller that belonged to Lord Mountbatten, a 1961 Jaguar E-Type, two 1954 Bentley Continentals and a Sinclair C5.
The vehicles will be of interest to wealthy individuals and motor traders; as classic cars have been shown to be steadily rising in value even during times when many things are depreciating, they are proving popular investments within the motoring community. If a business is looking to repair, restore and trade in vintage or classic cars – something which will require them to drive these vehicles – they can acquire special cover as part of a road risks insurance policy.
The seller of the haul of classic cars is James Hull who, having founded a chain of dentistry practices, started collecting the cars 35 years ago. Now that Mr Hull has fallen on bad health, he has put them up for sale with a reserve price of £100 million.
Speaking to the Financial Times, Mr Hull said: “There is a huge amount of interest from individual bidders and consortiums. Whether [the collection is sold] to a national exhibition venue in the UK, or to a foreign bidder, I will insist upon it being kept together. Hopefully, it will end up staying here.”