A new report has suggested classic cars are attracting a number of buyers at auctions, car insurance customers may be interested to learn.

The latest event hosted by British Car Auctions (BCA) saw hundreds of classic car enthusiasts attend.

Classics from BCA manager Robin Lawton said overall 37 cars had been sold over the course of the day.

"A number of cars sold for well above their estimate, which suggests there is a ready market for interesting and unusual vehicles, despite the current economic conditions," he commented.

The highest price paid was for a 1979 Ferrari 308 GTS, while a 1986 Sierra RS Cosworth, 1990 BMW 316i and a 1967 Volvo P1800S also went under the hammer.

However, the used car market has seen values fall significantly in recent months, the BCA reported in July.

During the second quarter of the year, average values fell by £390 to £5,332, compared with £5,722 during the previous quarter.

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