Pre-war Racecars – 2010 Market & Price Guide (Part 2)

From the very beginning of the automobile, man built cars to compete with a passion for speed and technology.  These 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 Le Mans 24 Hours.

The creation of an automobile that 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 2 of this pre-war market guide will feature more of these exciting marques, their founders and designers such as Raymond Mays of ERA and Sir William Morris of MG.

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 worldwide. 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, and this often brings the remaining total down to less than 10 good surviving examples of a particular model.

1934 ERA “A” Type

ERA, or English Racing Automobiles, was born out of the ambitions of Raymond Mays, Humphrey Cook and Peter Berthon, men who wished to create a successful English racing car and compete at an international level. ERA was founded in Bourne, Lincolnshire in late 1933. Raymond Mays, who’d had success racing Invictas and Rileys, was to be the driver, finance came from Humphrey Cook, who had a drapery factory, and car design from Peter Berthon. The company was to focus on the smaller Voiturette class with the aim of later entering Grand Prix competition. The first cars were 1.5-liter supercharged monopostos, or the Formula 2 cars of the day. Railton designed the new chassis (they had designed Malcolm Campbell’s land speed record holder). The engine was a modified version of the 6-cylinder Riley with a new aluminum cylinder head and forged crankshaft. Running on methanol, the 1.5-liter produced 200 bhp and the 2.0-liter 240 bhp. The gearbox was a pre-selector

4-speed, and with a weight of 2000 lbs the cars were very fast. The first car, built in 1934, was the R1A. Four works cars were built, R1A through R4A, or the “A” type. Then, in 1935, the production of 13 customer cars was to start. They were designated R1B through R4B, or the “B” type. The ERAs dominated the 1.5-liter class in the mid 1930s with driver Richard Seaman being so successful he earned a drive in the Mercedes Grand Prix team. Prince Bira of Thailand had a team of three cars, two of which were named “Romulus” and “Remus” and went on to win some 20 races. In 1938 a large “E” type chassis was built named GP1, but design and development was halted because of World War II. After the war Mays and Berthon went to BRM. ERA continued on postwar with the “G” type, and even had a young Stirling Moss drive, but without the prewar success. ERA became known as Engineering Research and Application Ltd. an R & D firm. The days of the ERA “A” type and “B” type will always be remembered. Today we have the pleasure of seeing these early ERAs out at historic races like the Goodwood Revival, and can enjoy the glory days of English motorsports.

1934 MG K3 Magnette

Morris Garages, or MG, was an automobile company owned by Sir William Morris. It was known for manufacturing small-displacement sporty little cars. In 1932 Lord Howe, known for racing Alfa Romeos and Bugattis (who wished to race a competitive English-built car) and Cecil Kimber, MG Chief Engineer, who believed racing cars improved the production car, convinced William Morris that if he were to build a racing version of the MG Magnette Lord Howe would sponsor the team and race at the Millie Miglia. Morris, who saw the benefit to the publicity, gave the go-ahead. Six months later the racing MG K3 Magnette finished the Millie Miglia 1-2 in the 1100-cc class and won the team prize, a first for a non-Italian marque. The MG K3 won the Ulster RAC Tourist Trophy with Tazio Nuvolari driving in 1933, and went on the finish 4th overall at the Le Mans 24 hours in 1934. About 33 of these magnificent sports racing cars were produced. The K3 was the racing version and used a shorter chassis than the production car. It was an open two-seater. The engine was a 1.1-liter inline 6-cylinder, a modified version of the Wolseley overhead-camshaft design. With a supercharger they could produce 120 bhp. The K3 had a non-synchromesh preselector 4 speed gearbox with rear-wheel drive. It was lightweight and nimble. It is considered the most important of all the MG racing cars, and is another example of what the desires of a few can achieve in motorsports.

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

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. 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.

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.