Broad Arrow sells the Jim Taylor Collection cars for $20.4m
Over a two-day blockbuster, insurance giant Hagerty’s classic car auction business Broad Arrow sold the cars and automobilia of marine industry tycoon Jim Taylor. Everything was offered at No Reserve – bar one, the ca. $8m Jaguar D-type, which failed to find a buyer on the night.
K500 understands negotiations are ongoing to cut a deal on the ‘D’, a good privateer car with an ‘On Request’ pre-sale estimate. As the 2022 Monterey sales showed, outside easily recognisable ‘statement cars’ such as Ferrari 250 Testa Rossas and California Spiders, the market for 1950s racers has softened, and is often best served by specialist dealers.
Taylor’s collection was geared around performance cars in general. Much of the catalogue reflected that, and his interest in the Jaguar marque in particular, though there were some modern supercars in the mix that performed better than more traditional classics.
At a glance:
* Gross, motor cars: $20,441,212
* Percentage sold by number: 99%
* Top-selling car: 1961 Mercedes-Benz 300 SL Roadster $1,820,000 gross, $1,650,000 net (est. $1.2m to $1.4m)
* Well sold? The 300 SL Roadster: massive price for least-favoured colour (Fire Engine Red) and most basic spec of US-delivered car with iron block and drum brakes. It did have a factory hardtop and numbers-matching engine
* Well bought? Hard to call – three-quarters of the catalogue sold below low estimate; many entries were good-value classics at the unfashionable end of today’s market
Broad Arrow reprised the successful Monterey sale set-up of Alain Squindo announcing the motor car lots and experienced professional auctioneer Lydia Fenet wielding the gavel.
Most cars sold on or around low estimate with few disasters, and the results reinforce the strength-in-depth condition of the North American market in late 2022. Niche models such as the rare 1954 Cunningham C3 Vignale Coupé a past Pebble Beach, Quail and Amelia Island concours car sold for $945,500 all-in (est. $900k to $1.1m). A 1952 Allard J2X achieved $362,500 gross against its $375k to $425k pre-sale guide – these have always been early post-War staples of the US scene.
Other results of note (all prices gross):
* 2009 Mercedes-Benz SL 65 AMG Black Series, $379,000. Another big price following Bonhams’ ‘no documents’ delivery mileage car selling for €333,500 ($325K) at Zoute.
* 1938 Jaguar SS100 3.5-Litre Roadster, $434,000. Strong money for the model (3.5-litre) that everyone wants.
* 1967 Shelby 427 Cobra, $1,380,000. This sold well as it’s actually a re-engined, less valuable 428.
* 1950 Jaguar XK 120 Alloy Roadster, $252,000. Probably the market price for an alloy XK120 in 2022, but still a bargain.
* 1964 Shelby 289 Cobra, $995,000. Highly original car sold on the money.
* 2020 Ford GT '69 Heritage Edition, $1,297,500. Finally a good result for a modern Ford GT at auction.
Broad Arrow Auctions ‘Jim Taylor Collection’, 14-15 October 2022 - results
Total gross cars: $20,441,212
Number of cars not sold: 1
Number of cars withdrawn: 0
Total number of cars: 131
Number sold: 130
Percentage cars sold by number: 99%
Percentage by value average low/high estimate: 81%
Percentage of cars sold below low estimate: 74%
Percentage of cars sold not met avge of estimates: 83%
Percentage of cars sold met/exceeded top estimate: 8%
Average value of cars sold: $157,240
Average year of cars offered: 1964
Percentage of cars offered at No Reserve: 99%
Photo by Broad Arrow