Dans Papers - June 8, 2007 - 2007 Classic Car Auction & Concours D'Elegance

This upcoming weekend will surely thrill the souls and, perhaps, exercise the checkbooks of vintage automobile enthusiasts. The Hamptons Auto Classic Auction, an established, yearly Hampton event, will once again take place, this time on Saturday, June 9. The Kensington Motor Group is promoting the event. Peter Mole, a British subject by birth, is the president of Kensington Motor Group and has scheduled the renowned annual local automobile gala, the Hamptons Concours d'Elegance, a traditional prestigious show and contest of impeccable classic autos on the day following the auction, Sunday, June 10. The term 'concours d'elegance' is a French expression meaning, "contest for purity and elegance." Serious automobile aficionados regard these proceedings almost as if it were a sacred ceremony. In fact, the vehicle that the judges declare the best of the Concours, upon receiving the award, instantly gains prestige and market value.

These two consecutive events will be a real home run for the enthusiasts' weekend. The Bidder's Cocktail Reception will precede the auction on Friday evening, June 8, starting at 6:00 p.m. and ending at 8:00 p.m. Most perspective buyers restrict their serious examinations to the vehicles they've selected for bidding. The majority of the bidders are not devout collectors, but host an isolated desire to "someday own that 1969 Mercedes 280SL."

The market value of a classic car varies in different parts of the country or, for that matter, parts of the world. For example, certain vintage automobiles command a greater market value anywhere southwest of Chicago and even greater value in Western Europe. Interestingly, at present, the most vigorous market for certain rare classic autos exists in Japan. Cosmopolitan regions also significantly affect market values -- auction sales that occur in proximity to large cities average approximately 20 percent higher than those that take place in rural areas.

Mr. Mole has set the bidders' registration at $75.00. The sales commission to the auction organization derives from the buyer as well as the seller -- 5 percent is paid by the former and 10 percent by the latter. The sellers incur another fee to register their vehicles for auction: $250.00 if they avail the automobile without a reserve (a reserve is a minimum bid required to sell the vehicle), and $500.00 if the autos sell with a reserve.

Mr. Mole anticipates approximately 75 cars registered for auction, including a Mini-Cooper Traveler of the sixties vintage owned by Matt Lauer, the news anchor. The roster of vehicles will most probably include a blend of American and European classics, ranging in average value between $10,000 and $250,000.

The auction and the Concours d'Elegance will take place on the fields of the Hayground school, located on Mitchell Lane in Bridgehampton. Kensington Motor Group will donate a percentage of the show's proceeds to Habitat for Humanity, an organization that builds houses for underprivileged families.

The judging will take place at 1:00 p.m. Sunday. Princess Yasmin Khan, Rita Hayworth's daughter, will present the awards. The Princess will host a cocktail reception at the conclusion of the awards ceremony inside the tent. Everyone may attend. Admission to the cocktail party is $125.00. Proceeds from ticket sales will also be donated to charity. The admission cost for auction spectators is $15.00, and $25.00 for the Concours d'Elegance. For additional information, contact Kensington Motor Group at (631) 537-1868.