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Vintage cars make £3.8m at auction

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A auction in London of vintage cars and aircraft raised over £3 million and saw a virtual sell-out.

New owners of classic cars like the 1938 Jaguar SS 100 Roadster, which went for £199,500, will need to make sure they have a good car insurance policy.

Bonhams said the top lot amongst the 76 cars, with a 98% sell rate by value, was a 1905 Gardner-Serpollet 18hp Type L Steamer with Tulip Phaeton Coachwork.

According to the auctioneers, a major European collector bought the vintage motor for £238,000, a huge rise on its pre-sale estimate of £100,000 to £150,000.

International MD of Collectors Cars at Bonhams, James Knight, said sales hit an impressive £3.83m in total: "It just goes to show that if you offer the best and most exciting cars or indeed, aircraft, the interest created brings in buyers prepared to bid with real commitment for them."

"In the years ahead we will doubtless have the pleasure of seeing the Spitfire in the skies above England and the Gardner-Serpollet on the roads."

The big aircraft purchase at the sale in the RAF Museum, Hendon, was an airworthy two-seater Vickers-Supermarine MkIX Spitfire, which sold for £1,739,500.

© Press Association 2009