Think “project car” and you might imagine a rusted-out classic or a sportscar in need of a new engine, cars that need work but are available for a knock-down price. But there are project cars and project cars, and Bonhams has just sold two rather special ones.
Both these “projects” have been off the road for decades and are in need of varying degrees of work – one of them doesn’t even have doors and windows fitted. It didn’t put off buyers: one of the cars sold for £4m and the other for £2m.
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Showing that given the right badge, the right model and the right provenance the very best cars will always sell, these ultimate project cars were the highlight of the Bonhams Legends of the Road sale in London on 19th February. The duo were “right” in every regard – apart from requiring their new owners to finish them off, that is.
Most astonishing was the 1960 Aston Martin DB4 GT “part restoration” that eight buyers fought over in the online sale. Off the road being restored since 1983, it was being offered without doors and windows, and a lot else besides, in place. Bonhams had put a guide price of £1.8m on it and, with the premium, it eventually sold for £1,975,000.
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Only 75 of Aston’s 1960s Ferrari 250 rival were ever made. With its shortened wheelbase, lightened body and 300PS (221kW) straight-six it was among the fastest production road cars of its day and a success in competition. This one used to belong to Syd Greene, of Gilby Engineering, who entered his own grand prix team in the 1950s.
The good news is that when the car is finished (all the bits are said to be included), so revered is the DB4 GT that it might be worth another million…
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The Bugatti Type 57S is another racing car for the road but even rarer (only 42 produced) and even more revered. The example in the sale, a 1937 open grand tourer with four-seater body by London coachbuilders Corsica, has been off the road in a Staffordshire workshop since 1969. But it is a lot closer to completion than the Aston.
The car’s nut and bolt restoration became the life’s work of its owner, the engineer and Bugatti aficionado Bill Turnbull. At the time of his death the work was almost complete, Bonhams offering the car in the online sale as an “advanced project needing only some final re-assembly”.
With a provenance that includes a lightweight chassis from one of the Bugatti “Tank” GP racecars and former owners who include Rodney Clarke, founder of the Connaught grand prix team, Bonhams had thought it might reach £5m or more but on the day it went to its new owner for a total of £4,047,000.
It was another Bugatti auction highlight in what has been an exceptional 12 months for the marque, the French classics taking all top five spots for most valuable cars – together about £30m worth – to sell at auction in 2020.
All the cars on offer in Bonhams’ Live and Online Legends of the Road sale sold. Next most valuable lot was a 1934 Frazer Nash TT Replica, one of only 85 examples, which sold for £253,000.
Images courtesy of Bonhams.
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