A while ago we told about a very special item, one of the oldest surviving Mercedes-Benz, going under the hammer at Coys’ True Greats sale in London. It has done that now, and sold for £720,000. That sounds like daylight robbery to us, considering the car’s history, and what it will be worth few years by now.

The 1905 Mercedes Simplex 28/32 HPs Phaeton is one of the oldest surviving examples of the marque in the world and is still complete and roadworthy. Classic cars have proved to be one of the best investment solutions, retuning sometimes up to ten times their value at the other end. And those are usually cars of which there tens of examples still in existence. This Mercedes is one unique machine that is guaranteed to go up in value over time.

This is the first time in the history of finance and investment that buying a car makes more sense than buying land or business. This Mercedes was bought by an overseas collector in Eastern Europe, who is a very good Coys’ private client. He said to be in possession of a well-established collection.

Chris Routledge, Managing Partner of Coys, says “Classic cars have been a phenomenal investment and this appears to be continuing. This Mercedes, which is nearly 110 years old, could be the ultimate Christmas present that will go up in value.”