Paris classic car auction makes history

History was made last Friday week as the biggest-ever sale of collectors’ cars in France took place.

In a five-hour auction that saw €14.5 million of classic cars change hands, the star attraction was the Ferrari 250 GT California bought new by Roger Vadim. The famous French filmmaker’s old car sold for its top estimate of €4 million before fees and taxes were added, making a final sale price of just over €4.5 million.

Also under the hammer at the Artcurial auction was a 1913 Delauney Belleville Type 06 8-litre, dismantled and hidden during World War II and only rediscovered decades later. It sold for €471,800.

Ninety per cent of more than 100 cars offered were sold in front of a crowd of over 1,000 people. Among the stranger of the lots was a Citroen 2CV from 1965, with just 116 miles from new. Its new owner paid a mildly shocking €59,600 for it.

The auction is further proof that classic cars are a very sound investment in economically challenging times. While banks can print more money, cars like these can never be made again and the double-whammy of scarcity and heritage makes these cars very tempting to investors.