Business

The allure of classic cars

Updated 11:36 AM ET, Thu December 5, 2013
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The 1952 Jaguar "C-Type" was last night's biggest draw at Bonham's historic car auction, fetching $4.8 million when the hammer went down. Courtesy Bonham's
This Aston Martin "Ulster" built in 1934 went for a princely $2.13 million. A replica of the company's 1934 racing team car, it was made available to amateur racers for just over $1,000 at the time. Courtesy Bonham's
Pop history mingled with classic car glamor when Ringo Starr's Facel went for a cool $554,000. The Beatles drummer bought the Facel Vegal "Facel II" - once dubbed "the world's fastest four-seater" in 1964. Courtesy of Bonhams
Other famous owners of the car include Joan Collins, Pablo Picasso and Frank Sinatra. "The fact that a car was previously owned by a celebrity will more often than not push the value up, but of course it depends on who the celebrity is," says Bonham's spokesperson Chloe Ashby. Courtesy of Bonhams
The 101 year-old Rolls Royce Silver Ghost sold on Sunday for $1.36 million. When the car was first built in 1912, the company publicized its ability to travel the 800 mile round journey from London to Edinburgh and back. Courtesy Bonham's
In July, Bonhams sold a 1954 Mercedes-Benz W196 for $32 million, a new record price for any car sold at auction. The race car was driven by five-time F1 world champion Juan Manuel Fangio. Courtey of Bonhams
Last month, Sotheby's "Art of the Automobile" racked up more than $60 million in total sales. This 1964 Ferrari 250 LM was the top selling car, costing the winning bidder a hefty $14.3 million. Courtesy of RM Auctions
This is a Jaguar 1966 E-Type. Enzo Ferrari himself described the E-Type as the most beautiful car ever made and owners have included the likes of Tony Curits, Steve McQueen, Brigitte Bardot and Patrick Dempsey. A relatively bargain at the Sotheby's auction, selling for $467,500. Courtesy of RM Auctions
This 1938 Talbot-Lago T150-C SS, with its body by the firm of Figoni et Falaschi, is considered a masterpiece of French Art Deco design. It sold for nearly $7.2 million at the aptly-named "Art of the Automobile" auction. Courtesy of RM Auctions
Elvis Presley bought a white BMW 507 Series II Roadster while he was stationed in Germany with the US Army. This 1958 model was sold for almost $1.7 million at the "Art of the Automobile" auction. Courtesy of RM Auctions
In 2011, a 1957 Ferrari 250 Testa Rossa (pictured) was sold at the Gooding & Company auction during the Pebble Beach collector car extravaganza for an eye-popping $16,390,000. Courtesy of Gooding & Company
This 1931 Duesenberg Model J Long-Wheelbase Coupe reached significantly more than estimated when it sold for $10.34 million at an auction in 2011. Courtesy of Gooding & Company