Lagondaforum

Subject: 1953 Lagonda 3-Litre Drophead at Bonhams on 19th May

---

A very nicely restored 1953 Lagonda 3-litre drophead in stunning condition. Estimate suggests that Bonham's either have no idea what it is worth; or it is a here to sell price, which should encourage bidding.

http://www.bonhams.com/auctions/20142/lot/202/

The car is owned by an LC member, and the restoration was done to a very high standard, and no doubt cost him a small fortune.

Simon

---

Subject: Re: 1953 Lagonda 3-Litre Drophead at Bonhams on 19th May

---

The Bonhams NP auction estimates are renowned for their studied inaccuracy. They are no more than a 'tongue in cheek' tease and are almost always wide / very wide of the mark. As an attendee for some years now, I can tell you that this is something always 'tutted' about over the (rather excellent) bacon or sausage butties available to the punters for modest remuneration.

Of course, the whole world of 'NP auctions' is almost entirely unreal, in my experience. The sums achieved very often seem to be out of this world. The problem, among several, caused by all of this is that owners and trade sellers alike, for months after every such auction, try their damnedest to get comparable money for their car. They fail, almost always, to manage this - which only goes to 'feed in' to factors and feelings as each new NP auction approaches. Happy days.

Subject: Re: 1953 Lagonda 3-Litre Drophead at Bonhams on 19th May

---

Peter's car went for £68K plus premium yesterday, and in fine order it was too. Gentleman's carriage

Subject: Re: 1953 Lagonda 3-Litre Drophead at Bonhams on 19th May

---

David - that was within 2k of what I had expected for Peters car, and still cheap, and they will climb more yet...

It was a very nice looking car, but since it had been restored from a wreck with no engine and box, it was a mixture of Mk1 and Mk2 parts; but still of course looked the genuine gentlemans carriage, and was the result of a massive amount of love, work and money.

These are highly sought after cars, and imho, the best of the 1950's Lagonda's by some considerable distance. If the car had been all correct with right engine and all Mk1 parts, one could have anticipated perhaps ca. 90-95k +premium, and well worth it as well.

Personally I prefer the Mk 2 dhc's with floor mounted gear-lever, either the Mk 2 3.0 litre car in dhc and 4-door, theyr seem to have been the best of these elegant cars.

Simon

---

Subject: Re: 1953 Lagonda 3-Litre Drophead at Bonhams on 19th May

---

There were lots of little problems with the Bonhams car and one only has to look at the dreadful modern driving mirrors mounted on the doors and the 'cod' engine builders plaque to get a real insight into the mind of the restorer! However, and if my arithmetic is correct, it sold for £84,320 including Buyer's Premium and VAT. So, by some margin I think you underestimate the current market value at auction of a 'right' car.

However, I agree with your other observations. The Mark 2 3 litre cars, as one would expect, are the ultimate incarnation of the 2.6/3 litre models. In terms of all advances made during the period, viewed together... The floor change will be preferable to most drivers today (if not back then), I feel. The repositioned fuel pump is a boon. The final dashboard layout is more satisfactory, in my opinion, than the earlier versions. The internal and external trim is more 'refined' (awful word, but apt here). The 4 door saloon design is more 'resolved' (ditto, re awfulness and aptness). The hydraulic jacking system is a boon if it works.

None of this is to say that the 2.6 lire and the Mark 1 3 litre cars are not wonderful things in their own right, of course.

Subject: Re: 1953 Lagonda 3-Litre Drophead at Bonhams on 19th May

---

Tim fyi, normally Bonham's have a bp of 25%, but on cars it is 15% plus VAT

So the total price paid with bp was £77,660

So my estimate of hammer price, which I guessed for this car would be 70k, was spot on.

You shouldn't confuse the two, as a seasoned auction buyer, I always look at the hammer price, for the simple reason, so many auctions have different buyers premium today. But you are correct, that is nearly 80k total for this car.

For a right car I had suggested 90-95K+ premium, this would bring the car up total price to well over 105-110k, anything above this a is boon for those of use who own Mk2 dhc's...

I think we agree with all aspects of the Mk 2 3.0 litre...

---

Subject: Re: 1953 Lagonda 3-Litre Drophead at Bonhams on 19th May

---

Yes, of course you are correct Simon - my mistake. So, we are in violent agreement on what appears to be a 'ball park' current market value at auction for, say, a 'near concours winning' 3 litre Mark 2 DHC at auction. But, I do think that all of these cars will continue to 'shadow' the 'rise and rise' of Aston Martin values, at least until the latest bubble bursts. Oddly (and counterintuitively), the Feltham Astons did not do at all well in this auction. But, I opine in more general terms, of course, re the Lagondas.

Subject: Re: 1953 Lagonda 3-Litre Drophead at Bonhams on 19th May

---

Would not like to get violent, but I think we have 100% agreement here, well that is good!

I think then given the price of good DB2 and DB mk3 dhcs, there is plenty more scope for them to rise, since the Mk 2 cars are pretty rare.

I have noted the same problem with the Feltham cars in 2011. But this years bunch were less than impressive, noted one had a Vauxhall engine and gear-box

---

Subject: Re: 1953 Lagonda 3-Litre Drophead at Bonhams on 19th May

---

Have a look at 'Bruno's' comments on the AMOC forum. The short point is that DB2 prices generally are strong (and much stronger than comparable Lagondas) but that this phenomenon is not replicated (year on year) at the NP Bonhams auction. Bruno (aka Chris Adams at Four Ashes) has a few interesting theories as to why this may be the case (and I have no idea as to whether he is right).

Subject: Re: 1953 Lagonda 3-Litre Drophead at Bonhams on 19th May

---

I have looked at these comments, interesting.

Lots of theories going the rounds at the moment, with classis car prices.

Away from the heady glory of the Bonham's once a year sales, there is often a high unsold rate at many of the better auctions.

Hard to make a really useful comparasion with Feltham cars vs Feltham Lagonda's over the last 10 years say. I would hazard a guess that there simply is not enough data out there to do this for Lagonda's, perhaps I am wrong and someone has done this exercise already ?

I note that this has been done for many of the AM NP cars, makes for interesing reading on the AMOC site.

---