A new Oxford salesroom owned by Bonham’s managed to attract 500 people for their classical car auction. Of the 41 cars offered, 39 were sold generating £968,493. The market for classical cars does not seem to be declining with Bonham’s also selling two classic Bugattis in Paris for 6 million Euros last month.

Michael Wynell-Mayo, Bonham’s Oxford Director was pleased with the sale that took place. After moving to the new space opposite Oxford’s airport, Michael said: “This sale shows that we were right to move our operation out of central Oxford to give us more room. It was really satisfying to see the level of enthusiasm and the huge turnout.”

The salesroom had already hosted a successful fine art and furniture sale that provided more than £1.25m in one week. James Knight, International MD of Bonham’s Collectors Car Department said: “If you are fortunate enough to have cash liquidity and are keen to put some of it into a tangible asset, something you can enjoy, then classic cars are proving to be an interesting alternative investment.”

A UK buyer managed to secure the top lot, which was a 1972 Ferrari 365GTB/4 Daytona Berlinetta that made £144,500. The second highest priced lot fetched £131,300. The 1960 Aston Martin DB4 Series II, created a heated bidding war between a telephone bidder and members from the audience. Apparently the telephone bidder had test driven the car a week before the sale, so was confident in the power of the purchase.

James Knight said: “We received nothing but praise from clients, the car park was at capacity, regular clients had come from far and wide. But I was very pleasantly surprised at the number of new clients.”