Bonhams steps into gear with Middle East's inaugural classic car event |
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Bonhams International Head of Motoring Department presents 'Collectors Motor Cars - an Introduction' 15 November 2008, Dubai UAE: Bonhams, the international fine art auction house established in the UK since 1793, will host a Collectors' Motor Car Introduction at the One & Only Royal Mirage Hotel, Dubai on Thursday 20th November 2008 from 6pm to 7pm. A special presentation on the worldwide classic cars market will be given by James Knight, International Head of Bonhams' Motoring Department.
Four cars from a UAE-based private collection will be on display at the Royal Mirage on the evening - a 1931 Lincoln Model K Rumble-Seat Roadster, a 1955 Ford Thunderbird Convertible, a 1965 Bentley S3 Saloon and a 1972 Ferrari 246GT Dino Coupe.
"This Collectors Motors Cars presentation is aimed at providing new and potential collectors an overview of the classic car market, and provide a rundown on what sort of cars to buy, periods and styles, acquisition costs, running costs and market perceptions," explained Knight.
"The Middle East is tipped to become an emerging market for classic car sales, and it's a trend Bonhams aims to support and develop. The motor car is over 100 years old and we'd like to demonstrate that there's a wonderful world of motor cars out there in addition to modern era high-performance cars."
Knight has been active in the car market since 1984 and conducts major motoring auctions all over the globe. Notable motor cars to have come under James' hammer recently are the 1904 Rolls-Royce 10hp Two-Seater, which sold for AED 26,605.309 (US$7,242,916) and the 1955 Jaguar D-Type, which fetched AED 15,999,618.92 (US$4,355,712).
"For too long the world of classic motor cars has been the domain of Europe, America, Australasia and Japan, and it's refreshing to see collectors from the Middle East now becoming passionate about vintage cars and memorabilia.
"For the market to truly emerge in this region, there needs to be an infrastructure in place to cater for vintage and classic cars. Collectors should start by attending and participating in international historic race meetings, tours, rallies and concourse d'elegance events. The passion and desire will then follow to recreate similar events in the region, with the infrastructure network growing in tandem."
Prominent in the auction of classic Aston Martin, Rolls-Royce and Jaguar motor cars, Bonhams is the largest auction house to hold scheduled sales of classic & vintage motor cars plus car memorabilia, and holds around 25 auctions annually around the globe.
Key upcoming highlights for Bonhams' classic car auction in Olympia, London on 1st December 2008 include James Bond's Lotus from 'The Spy Who Loved Me'. Expected to fetch £100,000-120,000, the white 1976 Lotus Esprit was one of two Lotus cars driven in the film by Roger Moore as 007.
More information on Bonhams Motor Department and upcoming classic car auctions is available via www.bonhams.com/cars.
-Ends-
Notes to editor
Bonhams Collectors' Motor Car Symposium will be held at One & Only Royal Mirage Hotel, Dubai on Thursday 20th November from 6pm - 7pm
Bonhams second Middle East auction for modern and contemporary Arab, Iranian, Indian and Pakistani art will be held on Monday 24th November at 7pm
The Top 10 prices achieved for cars at Bonhams auctions
£4,181,500 ($7,481,540)
1929 Mercedes SSK Roadster, Goodwood Revival, Sussex - 3 Sept 2004
£3,521,500 ($7,242,916)
1904 Rolls-Royce 10hp Two Seater, Olympia, London - 3 December 2007
(World record auction price for a Rolls-Royce and a veteran car)
£2,651,738 ($4,957,000)
1960 Jaguar E2A Le Mans Sports-Racing Two-Seater ,Prototype Chassis E2A
Quail Lodge - 15 August 2008 (World record auction price for any Jaguar)
£2,592,894 ($4,847,000)
1939 Talbot-Lago T150 C SS, Quail Lodge - 15 August 2008
(World record auction price for a Talbot-Lago)
£2,201,500 ($4,355,712)
1955 -litre Jaguar D-Type Sports Racing Car Two-Seater
Goodwood Festival of Speed, Sussex - 11 July 2008
£2,077,913 ($3,095,072)
1938 Alfa Romeo 8C 2900B Berlinetta
Quail Lodge, California - 19 August 2000
£1,595,000 ($2,566,036)
1958 Vanwall 'VW10' Grand Prix F1 Single Seater
Motorfair, Earls Court - 26 October 1989
£1,562,000 ($2,527,316)
1903 9.2-litre Mercedes Simplex '60' Sporting Tourer
Lords Cricket Ground - 10 July 1991
£1,540,000 ($2,616,460)
1961 3.7-litre Aston Martin DB4GT Zagato Lightweight Berlinetta
Castle Donington - 8 February 1990
£1,409,500 ($2,807,978)
1932 Alfa Romeo 8C 2300 Spider
Goodwood Festival - 22 June 2007
About James Knight
James Knight is International Managing Director of Bonhams' Motoring department and has overall responsibility for specialist collectors' motor cars, motorcycles and automobilia auctions held throughout the world-wide Bonhams Group.
He is an acknowledged motor auctioneering expert having specialised in the subject since 1984. James has worked on, and co-ordinated, record-breaking sales from the late 1980s to the present day, and has personally handled such prestigious collections as the Holthusen Collection of Lagondas, the Leyba Collection of Aston Martins, the Autocar Collection of Gordon Crosby Artwork, the Gerald Wingrove Collection of scale models, the British Motor Industry Heritage Trust Sale, and the Rosso Bianco Collection. Notable motor cars to have come under his hammer recently are the 1904 Rolls-Royce 10hp Two-Seater, which sold for £3,521,500 (US$7,242,916) and the 1955 Jaguar D-Type, which fetched £2,201,500 (US$4,355,712).
James also acts as an adviser to a number of institutions, which include manufacturers, trusts and museums. James is accomplished auctioneer and was nominated 'Auctioneer of the Year' for the British Antiques and Collectors Association.
A confirmed enthusiast, James holds membership to a multitude of motoring Clubs. He owns a 1954 Austin-Healey 100 Roadster and competes in historic motor sport with 1955 Jaguar D-Type and 1958 Lotus 15 sports racing cars.
About Bonhams
Bonhams, founded in 1793, is one of the world's oldest and largest auctioneers of fine art and antiques. The present company was formed by the merger in November 2001 of Bonhams & Brooks and Phillips Son and Neale UK. In August 2002, the company acquired Butterfields, the principal firm of auctioneers on the West Coast of America and in August 2003, Goodmans, a leading Australian fine art and antiques auctioneer with salerooms in Sydney, Melbourne and Adelaide, joined the Bonhams Group of Companies.
Today, Bonhams offers more sales than any of its rivals, through two major salerooms in London: New Bond Street, and Knightsbridge, and a further seven throughout the UK. Sales are also held in San Francisco, Los Angeles, New York and Boston in the USA; and Australia, Canada, Dubai, France, Hong Kong, Monaco and Switzerland. Bonhams has a worldwide network of offices and regional representatives in 25 countries offering sales advice and valuation services in 57 specialist areas. For a full listing of upcoming sales, plus details of Bonhams specialist departments, go to www.bonhams.com
About Dresdner Bank (DIFC) Limited
Dresdner Bank (DIFC) Limited (DBDL) is a subsidiary of Dresdner Bank AG and is part of the bank's private wealth management division. DBDL was incorporated May 2008, and is registered in the Dubai International Financial Centre (DIFC) and regulated by Dubai Financial Services Authority (DFSA). The Company specialises in advising and arranging the distribution of products and services of its sister companies within the Dresdner and Allianz Group to high net worth clients throughout the GCC and MENA region and is the first private wealth management practice to be an independently capitalized subsidiary.
Dresdner Bank AG is one of Europe's largest banking corporations; Germany's third largest, and has been a wholly-owned subsidiary of Allianz Group since 2001. It has over 1000 branches and is present in over 60 major cities including Frankfurt, London, New York, Tokyo and Singapore. The Company's operating divisions are Private & Corporate Clients (personal, private, business, and corporate banking; private wealth management) and Investment Banking (capital markets and global banking), which includes subsidiary Dresdner Kleinwort.
For more information please contact:
Lauren Cooper
Action UAE
Mobile: +971 55 6372313
Email: lauren.c@actionprgroup.com
Kelly Smith
Action UAE
Tel: +971 50 498 3085
Email: kelly.s@actionprgroup.com
Julian Roup
Bonhams Press Office in London
Tel: +44 20 7468 8259
Email: julian.roup@bonhams.com and press@bonhams.com
© Press Release 2008
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