Rare C-Type Jaguar Sells for £5.7m

Over the past year, the classic car market in Europe has experienced a decline in average prices and sales volume. Despite a record number of 11,375 collector vehicles being auctioned, the average price per car fell by £4,727, representing a 9% decrease in value. In the UK alone, out of the 8,929 cars offered at auctions, 5,885 were sold for a total of £166.5 million. However, the average amount paid per classic car at auction was £28,292 with the premium, which is nearly 15% less than the previous year.

Similarly, on the Eurozone mainland, the average price of the 1,652 classics sold for £189.31 million saw a decrease of £48,286 per car compared to the previous year. It's worth noting that average prices paid in 2015 were also £27,130 lower than those in 2014. This trend highlights the fact that, contrary to some optimistic predictions, the prices of most mainstream classic cars have significantly softened in the past two years.

The sale rates achieved at the 107 classic auctions varied, with the lowest being 17% at Newmarket in July and the highest being 100% at New Bond Street in September. The most successful auction of the year was the £40 million total sell-out of 423 'No Reservists' at Milan in November. Overall, the average sale rate in the UK was 66%, 4% lower than the previous year, while on the Continent, the average sale rate was 68%, also 4% lower than the previous year.

In terms of auction houses, RM Sotheby's emerged as the top performer on the Continent, selling 546 out of 589 consigned cars and achieving a 93% sale rate. They grossed £76.22 million by the end of the year, accounting for 40% of the industry's total in Euro Europe. Artcurial secured a 31% euro-market share by selling 366 out of 464 cars for £57.85 million, while Bonhams Europe achieved a 20% market share by selling 173 out of 286 cars for £38.01 million, with an average of £219,711 per car sold.

In the UK, Bonhams led the market by selling 374 collector cars for £45.57 million, with an average of £121,845 per car sold and a market share of 27.37% by value. Silverstone Auctions and their subsidiary, CCA, took second place by selling 436 mainstream cars for £25.44 million and 403 more accessible classics for £5.44 million. RM Sotheby's secured a 13% UK market share by value, selling 65 top cars for £21.65 million. H&H followed with 563 cars sold for £14.73 million, representing an 8.85% market share.

In terms of volume, ACA stood out by consigning the most cars (1,268) and achieving a 15.9% market share in the UK. Silverstone and CCA closely followed with 1,241 cars sold out of 1,312 consigned. Brightwells, with 846 cars sold out of 1,193 consigned, secured a 4.3% UK market share by volume.

These statistics indicate a cooling down of the classic car market, with prices and sales volume experiencing a decline. It will be interesting to observe how the market evolves in the coming years and whether this trend continues or reverses.

The C-Type Jaguar, also known as the Jaguar XK120-C, was a sports racing car produced by Jaguar in the early 1950s. It was built specifically for endurance racing, following the success of Jaguar's XK120 roadster. The C-Type made its debut at the 24 Hours of Le Mans in 1951 and quickly established itself as a formidable competitor.

The design of the C-Type was heavily influenced by aerodynamics, featuring a lightweight aluminum body with a streamlined shape and a distinctive long nose. Under the hood, it was powered by a 3.4-liter inline-six engine derived from the XK120, producing around 200 horsepower. The car also boasted advanced features for its time, such as disc brakes, which helped improve stopping power and reduce brake fade during races.

In its first year at Le Mans, the C-Type secured a remarkable victory, with drivers Peter Walker and Peter Whitehead taking first place. This victory marked the beginning of Jaguar's dominance at Le Mans, as the C-Type went on to win the prestigious endurance race again in 1953, with drivers Duncan Hamilton and Tony Rolt at the wheel.

Beyond Le Mans, the C-Type achieved success in various other races and championships, including the Goodwood 9 Hours and the Tourist Trophy. Its combination of power, handling, and aerodynamics made it a force to be reckoned with on the track.

Today, the C-Type Jaguar is highly sought after by collectors and automotive enthusiasts. Its racing pedigree, stunning design, and limited production numbers contribute to its desirability and value. Restored and well-maintained examples can command significant prices at auction, reflecting its historical significance and enduring appeal as an iconic sports racing car.