£253k Countach restoration project makes headlines at Historics’ latest auction

A part-finished restoration-project Countach, complete “to the best of our client’s knowledge” and in storage since 2008, found a new owner recently when Historics sold the RHD 1982 LP5000S for £253,000 incl. 10% premium.

Working on an on-the-day conversion, that’s around €295k, or $345k. To bring the believed originally black/black car with wing back to showroom condition in Italy might cost up to €400k, so €695k in total, say $815k. For comparison, Gooding sold a low-mileage 1984 car for $720,000 at Pebble Beach this August.

At a glance:
 
* Gross, motor cars: £3,343,579
* Percentage sold by number: 77%
* Top-selling car: 1982 Lamborghini Countach 5000S £253,000 gross, £230,000 net (est. £145k to £180k)
* Well sold? Good work on the Countach
* Well bought? Another all-black Italian, the No Reserve 2004 Maserati 4200 Coupé snapped up for pocket-money: £9,240. A typical fun and affordable car that populates these sales

Historics knows its market, focusing on well-priced ‘family classics’ with a sprinkling of more modern Aston DB7s, Ferrari 360s and Bentleys, as well as a handful of big-hitters. The latter usually includes a brace of ‘DB’ Astons. This time, the non-original, now silver '007-spec' DB5 failed to sell, despite a broad and unambitious £540k to £620k estimate.

It was a low-key day and the only other car to break the six-figure mark was the 1955 AC Ace, an AC-engined car (the least desirable, though modern Mille Miglia-eligible) that went for £210,100 all-in. Est. £185k to £225k.

Still, the healthy sell-through of 77% by number – with cars still gradually finding new owners post-sale – proves once again the health of the UK market at grass roots level. It’s not all online just yet.

Historics at Ascot Racecourse, 25 September 2021 – results

Total gross cars: £3,343,579
Number of cars not sold: 35
Number of cars withdrawn: 6
Total number of cars: 152
Number sold: 117
Percentage cars sold by number: 77%
Percentage of cars sold below low estimate: 22%
Percentage of cars sold not met avge of estimates: 46%
Percentage of cars sold met/exceeded top estimate: 22%
Average value of cars sold: £28,578
Average year of cars offered: 1980
Percentage of cars offered at No Reserve: 28%

Photos by Historics