1987 Sierra Cosworth RS500 with 5,000 miles on the clock..

[mab01uk]

"The 1987 example of the limited-edition Sierra Cosworth RS500 is in immaculate condition, having covered only 5,192 miles in its 36-year life. Silverstone Auctions predicts the eighties icon will sell for £150,000 to £180,000 at the end of February when the hammer drops, which will be a world record sum for the in-demand machines."
https://www.thisismoney.co.uk/money/car ... cords.html

[AndyPen]

I am clearing a lot of my RS500 parts I have decided, and only keep sensible parts for my own car. My focus is back on my minis now. Just sold two body shells for very fair prices, and when someone dropped out I had a bigger offer within 3 hours - absolutely nuts!!!

[mab01uk]

£596,250 at auction: Winning bid for the Ford Sierra Cosworth RS500 with just 5,000 miles on the clock is 30 TIMES its original price in 1987..
https://www.thisismoney.co.uk/money/car ... 6-250.html

[AndyPen]

£596,250 at auction: Winning bid for the Ford Sierra Cosworth RS500 with just 5,000 miles on the clock is 30 TIMES its original price in 1987..
https://www.thisismoney.co.uk/money/car ... 6-250.html

I don't think any of us RS500 owners expected it to go for anything like that. It's craziness in the extreme.

[mk1coopers]

Trouble is when prices get this high (for whatever reason it did) at what point does the car become impossible, or rather very expensive, to insure and no fun to drive as you start to worry about what could happen to it. I know someone who has a nice moonstone 3 door tucked away, not something that I'll ever have a chance to own now as I couldn't offer a fair price for it.

[AndyB72]

Crazy price. There was a well placed GT40 parked next to it at the show for half the price.

https://www.silverstoneauctions.com/200 ... n=1&pp=100

[Pandora]

Someone wants their bumps feeling!

Old Fords have long had a strong following, but that is just daft. You would have to look for a very long time to NOT find any number of cars that you wouldn't rather have. And you could build a very interesting and extensive collection for that money, and have plenty left over to build a garage to keep them in.

And it's the age old thing - is the value in it's low mileage? if so, what do you do with it? How do you enjoy it? I rather suspect that this is a sale to bolster the value of a collection of more recent classics, or someone (OK, 2 people) got carried away and will find a very hard reminder if they need to sell it on. Yes, it's an iconic car of it's era, but in the broader scheme of things, it''s niche, and whilst prices have crept up, such massive jumps are very very unusual, and not necessarily reflective of the market as a whole

I think we could look long and hard to try to understand where the thinking behind that bid came from, but I doubt we'd work it out.

Al

[111Robin]

It has to have been someone who isn't buying it as an investment but can easily afford to throw away lots of money, it certainly doesn't reflect the worldwide desirability of these cars. Imagine if it had been owned by someone famous!!. In the same auction the ex Avengers (Emma Peel) Elan went for £146k, well above estimate, whereas the Peter Sellers,, Jochen Rindt, Rob Walker Elans went for less than estimate in most cases so I expect to see these up for sale at dealers soon with huge margins applied. There was a 69 Elan S4 FHC at Morris Leslie auction last week, went for £20K and on Monday it was on at a Glasgow dealers for £29980. I seriously doubt that any of these Elans were bought by enthusiasts, however people seem prepared to pay a huge premium to buy from a dealer who has done nothing other than trailer it back to their showroom. I know they have overheads but that's taking the proverbial.

[rolesyboy]

Ludicrous. You could buy 10 Teslas for that and spend the rest on electric

[mab01uk]

What happens when classic cars sell for too much? After a collector paid a record-busting £600k for a Ford Sierra at auction last week, JOHN MAYHEAD explains why it's an 'outlier''
John Mayhead, editor of the Hagerty Price Guide. It's his job to know the value of classic and collectible vehicles. And he says the Sierra sold last week - like so many before it - is what the industry dubs an 'outlier'....
https://www.thisismoney.co.uk/money/car ... lains.html