From the very beginning of the automobile, man built cars to compete with a passion for speed and technology. These early innovators are in an elite club with their place in automotive history guaranteed as the creators of a true classic sports car, a genuine thoroughbred.
The development of the racing sports car can be traced to specific manufacturers, who at one time in history dominated motor racing, in particular, the world’s most challenging road races, such as the Mille Miglia, Targa Florio and endurance contests such as the Le Mans 24 Hours.
The creation of an automobile which could win in international competition was usually the inspiration of one passionate man, an engineer, a genius, who put all of his design and engineering skills toward his goals.
Part one of this pre-war market guide will feature some of these exciting cars, their founders and designers:Bugatti — Ettore Bugatti, and Alfa Romeo — Nicolo Romeo.
Today, these pre-war masterpieces are highly sought after by the sophisticated collector.They and their current owners are often invited to partake in the most prestigious historic racing venues world wide — the Le Mans 24 Hour Classic, Mille Miglia Storica, Monaco Historique Grand Prix and the Targa Florio, to name but a few.
Due to the age of these cars and their racing heritage, their value is determined by their originality and provenance. Old cars built up from parts are not the same as true complete survivors. In many cases, this attrition can bring the remaining total down to less than ten good surviving examples of a particular model.
Make | Model | Level III | Level II | Level I |
| AC | 12/24 | $100,000 | $125,000 | $175,000 |
| 12/40 | $100,000 | $125,000 | $175,000 | |
| Ace 16/56 | $125,000 | $175,000 | $225,000 | |
| Ace 16/66 | $150,000 | $200,000 | $250,000 | |
| Ace 16/80 – 16/90 | $175,000 | $225,000 | $275,000 | |
| Alfa Romeo | RL Targa Florio | $1,000,000 | $1,200,000 | $1,500,000 |
| 6C 1500 SS/SC | $1,000,000 | $1,200,000 | $1,500,000 | |
| 6C 1750 GS/SC Zagato | $1,500,000 | $2,500,000 | $3,000,000 | |
| Tipo B Monoposto P3 | $8,000,000 | $9,000,000 | $11,000,000 | |
| Tipo C Monoposto 8C35 | $6,000,000 | $8,000,000 | $10,000,000 | |
| Tipo 8C 2300 | $6,000,000 | $8,000,000 | $10,000,000 | |
| Tipo 8C 2300 Lungo (Le Mans) | $8,000,000 | $10,000,000 | $12,000,000 | |
| Tipo 8C 2300 Corto (Mille Miglia) | $8,000,000 | $11,000,000 | $13,000,000 | |
| Tipo 8C 2300 Spider Corsa (Monza) | $9,000,000 | $11,000,000 | $14,000,000 | |
| Tipo 8C 2900B Lungo | $14,000,000 | $17,000,000 | $19,000,000 | |
| Tipo 8C 2900B Corto | $14,000,000 | $17,000,000 | $19,000,000 | |
| Alvis | 4-Cyl., FWD | $250,000 | $300,000 | $350,000 |
| Amilcar | 6C | $200,000 | $250,000 | $300,000 |
| Aston Martin | Ulster Mk II | $600,000 | $700,000 | $800,000 |
| Lemans | $700,000 | $800,000 | $900,000 | |
| 2-Liter Speed Model | $400,000 | $500,000 | $600,000 | |
| Bentley | 3-Liter Speed Model | $1,000,000 | $1,300,000 | $1,500,000 |
| Big Six | $2,000,000 | $2,300,000 | $2,500,000 | |
| 4.5-Liter | $2,000,000 | $2,300,000 | $2,500,000 | |
| Speed Six | $5,000,000 | $5,500,000 | $6,500,000 | |
| 4.5-Liter Blower | $6,000,000 | $7,000,000 | $8,000,000 | |
| BMW | 328 | $1,000,000 | $1,200,000 | $1,300,000 |
| Bugatti | Type 35 | $2,000,000 | $2,500,000 | $3,000,000 |
| Type 37A Supercharged | $2,500,000 | $3,000,000 | $3,500,000 | |
| Type 51 | $4,000,000 | $5,000,000 | $5,500,000 | |
| Type 57SC Atalante | $7,500,000 | $8,500,000 | $9,000,000 |
Alfa Romeo RLTF
After the end of World War I, where Alfa Romeo had manufactured for the war effort, owner Nicolo Romeo set about building a new touring car. Prior to the Vittorio Jano era, designer Giuseppe Merosi penned the RL. It was built on a ladder frame with a solid rear axle, drum brakes and front-mounted inline, 6-cylinder 3.0 liter engine. The coachwork was varied including Castagna and Zagato and it was available in touring and competition form. The RLTF, or Targa Florio, was a successful competition car having won the famed 1923 Targa Florio race outright. It was lighter than the other RL versions, had a seven main bearing engine and double carburetion. In its final form it had a 3.6-liter engine producing 125 bhp. Drivers were Ugo Sivocci, Antonio Ascari and a young Enzo Ferrari. It was Sivocci who won the 1923 Targa Florio in a red car with the green cloverleaf. That symbol would stay with Alfa Romeo to this day. The RLTF deserves credit for the start of a new era of racing success for Alfa Romeo. It was followed by the 6C and 8C series of Jano-designed cars. Today it is a rare sight to see an RLTF and one to enjoy. An example of the design and engineering excellence that Alfa Romeo was to become well known for and a solid automotive investment.
BMW 328
In the early ’30s, BMW began building, what is considered by many to be their raison d’etre, the inline 6-cylinder engine. By 1936, this 1,971-cc power unit—which featured a unique single-cam that drove the inlet valves directly and the exhaust valves indirectly through a cross-over pushrod—was producing more than 90-hp. This reliable engine package was placed into a twin-tubular chassis derived from the earlier 319 model, equipped with hydraulic drum brakes, independent front suspension and a compact two-seater body. The result was the 328, which began racing in 1936 and went on to score under 2-liter class wins in such important events as the Mille Miglia and the 24 Hours of Le Mans. All in all, 464 examples were built until the outbreak of World War II halted production. Ironically, the 328 would live on, post-war, as the design for the engine was given to the British Bristol car company as part of war reparations.
Criteria Used For Assessing Valuations for this Guide:
- Degree of Originality
- Overall Condition, Restoration
- Technology, Design, Coachbuilder
- Production Numbers/Rarity
- Competition History
- Ownership History, Documentation
- Modern Event Eligibility
Most of the time, we are able to document known sales or closed escrows, as they say in real estate. When this is not possible, a logical estimate of the car’s value is given, based on its sales history and relationship to cars of its type. Values for special examples or car’s with exceptional provenance can vary significantly. Values listed here are purely for general reference and do not represent absolutes.
Regional Variances
The prices stated in this guide are based on U.S. values. The values of historic racing cars can vary as much as 25%-35% in other countries, depending on local market appeal, currency rates, import duties, and VAT.
