Age and beauty came before all else in a record-breaking auction recently. A Rolls-Royce of impeccable vintage was sold for a world record price.
The Belle Époque was recently brought to life with an auction full of period drama which saw a Rolls-Royce sold for almost £5m. Potential buyers from around the world gathered at the Bonham’s sale at the Goodwood Festival of Speed to bid for a Rolls-Royce described as “one of the finest ever built” and still in immaculate and original condition.
The remarkable 1912 Silver Ghost enjoys a number of attributes which make it outstanding, not least is the fact that it is one hundred years old and is in perfect working order. It is still fitted with its original headlights, carriage lights, rear lights and inflatable tyres, and runs almost silently. Its 7.3 litre six-cylinder engine still allows the car to reach speeds of about 60 mph, achieving 15 miles to the gallon. The car is, understandably, heavy, with leaf spring suspension, as was used at the same time by horse-drawn carriages.
In 1912, it was sold for about £1000. At that time, wealthy owners would buy the chassis and engine and employ coach builders to construct the bodywork. Ownership of cars like these certainly signified membership of the upper strata of Edwardian society. It was indeed the name of the Silver Ghost which established Rolls-Royce as the legendary motor marque. The elegance and comfort, not speed, of these cars was what carried the aristocracy in the manner to which they had become accustomed. The cars also become targets of aspiration for members of the growing upper middle class who had proved themselves successful in business, rather than inheriting their money. As befitting such owners, the car has only one seat at the front, for the chauffeur.
The original owner of this car was Mr John M Stephens of South Croydon, who chose the best for his Silver Ghost, in the form of the coachworks of Barker and Company to fit out the body. The quality and precision of their workmanship shines through today, as the car celebrates her centenary.
What is even more noteworthy is the survival of this bodywork. Many of this car’s contemporaries were stripped down to serve as ambulances and other emergency and field vehicles during the First World War.
The car eventually attracted the name of ‘The Corgi’ after the toy car maker copied it for a range in the 1960’s.
Expected to sell for about £2m, the car fetched more than double this in an auction full of excitement. With more anticipation than a closing episode of Downton Abbey, the car eventually sold for £4,705,500, establishing a new record for the most expensive Rolls-Royce ever sold on auction.
When the bidding reached the estimated £2m mark and continued to rise, the atmosphere at the auction became quite tense. By that time, just two bidders were competing to add the car to their clients’ collections. One of them then dropped out and James Knight of Bonham’s thought that the current standing of £2.3m would be the sales price after all. “But then another bidder entered and both were in the room on the phone to their principals. It went up in increments of £50,000, and then £100,000, and then back down to £50,000. It went on and on and on and was the longest car sale I have ever witnessed. It was pure theatre. Everyone there was very respectful and kept quiet and when the price reached a milestone, like three million, there was an intake of breath, then some murmuring, then silence. The bidders were duelling and when the hammer came down there was spontaneous applause.”
The lucky new owner will be packing the car once again and shipping it abroad, to its new, mystery, home. Its return to Britain thus being brief, as it only appeared in England for the auction following the death of its American owner, the famous collector John O’ Quinn.
A tribute was paid to the car in the form of the value finally attached to it. Said Bonham’s, “it was fitting because the car is celebrating her centenary. The car has graced some of the great collections and has a superb provenance. It has been restored and can be used – but probably sparingly.”
Rolls-Royce has a history of hand crafting luxurious cars in the UK since the early 1900’s. This richly steeped heritage is still found in their cars today, which you can enjoy by hiring a Rolls Royce from Signature Car Hire. For a special occasion we recommend experiencing this heritage with our chauffeur service in one of our exquisite models which include the Rolls-Royce Ghost, Rolls-Royce Phantom or even the Rolls-Royce Phantom Drophead.