Big Money...
Sunday, March 9, 2014 at 7:37PM Wow...Normally we don't report on auction prices, but we were shocked to see the results for the two Allards at RM's Amelia Island Auction this past Saturday. Both the K1 and K3 set what we believe are world record prices for each model. K1-249 sold for an impressive $176,000 and the K3 went for $220,000.
We must admit that we're a bit conflicted with the results. On one hand, we're excited to see Allard's finally getting their due, for a long time we've believed that Allard's have been undervalued due to their uniqe design, competition history, and rarity. On the other hand, it will likely mean fewer cars will be driven and enjoyed as Sydney intended. However, we firmly believe that for cars to gain in value, they need to be seen in public...at vintage races, ralleys, car shows, magazines, and the internet.
Reader Comments (1)
Why will rising prices mean that they will not be used and enjoyed as intended?
If a K1 was £40k last month, £65k last week and is now £100k what's the difference?
Because they will be bought by speculators and investors and parked to increase in value? ... Doubtful, there are far better investments.
Anyway, even if 100 Allards sell per year that's 5 percent of the total built and (probably a bit less than 10% of those remaining), leaving the other 95% with those who do or don't use them just as they did before.
Let's look at this in a positive manner
1. Bought by people with far more money, meaning that they can afford to get them to more events
2. Once a car reaches a certain value it can no longer be 'written off' as beyond economic repair.
3. Potentially persuades those who might not be using them to dig them out and sell, see comment 1.