Classic Ford Escort from 1980 on sale for £37,500
A car which cost less than £3000 in 1980 has gone on sale for an eye-watering £37,500
The motor is being sold for more than vintage Jaguars, Bentleys and Rolls-Royces by Haymarket-based Derek Mowat, who specialises in sought-after vehicles.
The 1980 RS 2000 custom model, which has less then 12,000 miles on the clock and represents a “piece of rare motoring history” according to Mr Mowat, comes complete with its original paintwork and Pirelli tyres.
While it might not seem like the most glamorous motor, the RS 2000 model was famously used in the classic TV series The Professionals.
It is not unusual for vintage cars to sell for hefty price tags, but few would expect a vehicle that was a common sight on roads just a few decades ago to sell for more than ten times its original price.
But Mr Mowat insisted the car, which he claims is “possibly the best in existence”, would see its value soar further in the coming years by cementing its place as a modern classic.
He said: “A blue chip investment, like fine vintage wine – only ever likely to increase in value.”
Although not everyone’s idea of luxury, there are dozens of branches of the Ford RS Owners Club in Britain, with three in Scotland. The appeal of the cars stretches across the world, with two branches in Australia and one in Barcelona, and 4500 members in total.
Ron Walker, of the Central Scotland and East branch which sees up to 40 people attend monthly meetings, said that according to the club’s price guide, a top condition RS 2000, which can reach 60mph in 8.5 seconds and has a top speed of 108mph, had increased in value from £11,000 to as much as £30,000 since 2007.
“It was the in car at one particular time and was big in the rally scene,” he said. “People associate it with their youth, motorsport and maybe dad or grandad used to have one, but you don’t see them nowadays unless you go to an event for classic cars.
“The values are incredible. It boils down to how much you want the car. If it’s that good, people will pay what they need to.”
Ray Briggs, of H and H Classic Car Auctions and a former Escort owner, said: “You’d need to win the EuroMillions lottery, but it is a beautiful car. It’s a standard road car, but it appears to have been kept in immaculately good condition.
“I won’t be running out and buying it – perhaps at £20,000 I would – but they will be asking where could you find another one in that condition. Not many stood the test of time because most of them were wrapped around trees. They were very good cars and in their day were very quick.”
Mr Briggs, who works for one of Europe’s largest specialist auctioneers which has sold everything from 1890s London to Brighton runners through to 1990s Formula 1 cars, said the financial climate had led to a boom in the vintage car trade.
“There are lots of people putting money in as a safety belt,” he added.
“If you put money in the bank you’re only covered for the first £80,000, so if it goes to the wall that can be a lot of money to lose.”
Search for a job
Search for a car
Search for a house
Weather for Edinburgh
Wednesday 22 May 2013
Temperature: 3 C to 13 C
Wind Speed: 23 mph
Wind direction: West
Temperature: 5 C to 11 C
Wind Speed: 23 mph
Wind direction: North west