Rare, desirable classic cars on auction in Cape Town

A 1969 Jaguar E-Type and a 1967 Ford Mustang are among an array of desirable classic cars being put under the hammer by The High Street Auction Co in Cape Town on May 30.

The Luxury Wheels live and online auction is a joint sale of precious items such as artworks, time pieces, wines, spirits, heritage diamonds and classic cars by The High Street Auction Co, until now a specialist in the property space.

Director Lance Chalwin-Milton says extending its auction offering to cars and collectibles follows an international trend that has seen investors navigate turbulent economic times by not only reverting to traditionally safe investment havens such as gold, but also embracing collectibles which provide precious stores of value.

According to the Deloitte/Credit Suisse Research Institute Collectible Report 2022, collectibles are now an integral part of wealth accumulation following the macro-economic shifts that have reshaped markets and monetary systems post the pandemic, he says.

The report says collectibles are usually counter-cyclical, strong when conventional markets are weak, offering good returns that do not rely on political sentiment. Prices are based on scarcity and societal value.

Chalwin-Milton says the high-net-worth investors that are on the property investment trail have developed a fresh appetite to consider everything from fine art and collectible time pieces to wines, spirits or even classic automobiles.

“Hence, the future vision is for The High Street Auction Co to include everything from vehicle fleets to luxury investments such as heritage diamonds, metals and more.”

The auction house was acquired in October by mobility, energy, leisure and gaming group Afrirent Holdings.

The live and online auction is being held on May 30 in the DHL Stadium in Green Point, Cape Town, at 10am. The online link and catalogue are here.

The 13 cars being auctioned include a yellow 1969 Jaguar E-Type Series II coupé with a 4.2l engine and 8,400 miles (13,500km) on the odometer.  A symbol of British motoring excellence, the E-Type is one of the most coveted classics of its era. 

Also for sale is a maroon 1965 E-Type Series 1 roadster with 85,000 miles, and a white 1959 Jaguar XK150 with a 3.4l engine and 23,280 miles on the odo.

There are several Ford Mustangs in the auction, including a 1968 convertible, 1966 fastback and a 1970 Mustang Boss 302 muscle car.

The line-up also includes a pair of classic Porsche 911s and a 2006 Maserati GranSport Spyder.

Business Day