Private Equity invests in the Classics

How hot are classic cars? Surely, you read about the $2.4 million Porsche 993 GT2 .   The classic car market shows no signs of slowing,  despite bubble busting predictions of doom it is now estimated to be a $5.3 billion business worldwide and growing.

This seemingly insatiable thirst for classics is best expressed every September over on Lord March's back yard,  where literally billions of dollars worth of technically obsolete but endlessly fascinating machines are flogged within an inch of their life... and sometimes beyond.

All these wonderful lunatics have to be catered to and classic car preparation has become a huge business.   The leading player in the field is J.D. Classics, based in Maldon ( Essex),  twenty five years in the business offering everything from full restoration to custom builds to race prep and support.  In 2015 it reported sales for over $130M with ebitda of $24.5M for a profit of $18M.

Numbers that attract the interest of Private Equity and this past week it was announced that controlling interest in J.D. Classics was acquired by Charme Capital Partners.  Charme is an Italian based fund led by Matteo di Montezemolo.

Sound familiar? Yes, he's Luca di Montezemolo's son.

Investing along with Charme is a NY based, art and collectibles fund deCar Partners and FiveW Capital.  J.D.'s founder Derek Hood will maintain a significant minority share and the company will have funds needed for expansion and to acquire the inventory of cars needed to keep the whole thing going.

Of course, there is a finite supply of special cars so perhaps that's where the Revival comes in:  if they bend them, or blow them up,  companies like J.D. Classics will be there with the knowledge and expertise to rebuild anything.

Don't lift!

Temple of Oversteer: 2016 Goodwood Revival Live Stream:

Simply the best historic racing and possibly some of the best racing you will see all year.

Schedule, all times GMT:

Friday 9th September 08.30 - 18.00
Saturday 10th September 08.30 – 18.00
Sunday 11th September 08.30 – 18.00.

Oh no, that's not the right way to pass!

Post by Goodwood Road & Racing.

Goodwood Revival in Pure Sound

Photo seberry67 / Flickr

Formula E got you down?  Hate Formula One's new polite volume?   Despise Diesel race cars ?

Here's a full retro, politically incorrect, loud, smokey antidote  courtesy of aspiring designer Nicholas Lette van Oostvoorne and, of course, Lord March organizer of the event and all those who maintain these mechanical artworks alive and roaring.

Turn it up!

2014 Goodwood Revival: Day 3 Live Stream

Final day at the greatest historic racing event on the planet the Goodwood Revival.   See it all live or wait for the the replay after the event has ended.

REVIVAL BROADCAST SCHEDULE

ALL TIMES ARE BST (GMT +1HR) AND SUBJECT TO CHANGE WITHOUT NOTICE.

• FRIDAY Sept 12th
• SATURDAY Sept 13th
• SUNDAY Sept 14th

0915 Maserati 250F demonstration

No fewer than 16 of the 29 Maserati 250Fs built are at Revival to celebrate the car’s 60th anniversary. The very first and very last built will part of this spectacular display, along with some other historically significant examples such as that raced by Juan Manuel Fangio at the Nurburgring. If you enjoy this, don’t miss them racing in the Richmond Trophy at 1050.

1000 Fordwater Trophy

The Fordwater Trophy is for production-based sports and GT cars from 1960 to 1966. Watch specialist British cars from the likes of Elva, Tornado and Rochdale take on the likes of Porsche, Ferrari and Sunbeam.

1050 Richmond Trophy

There are 11 Maserati 250Fs on the entry list for the Richmond Trophy, including a very rare V12, making this unmissable viewing. And that’s before you factor in the rest of the field packed with GP cars from 1954 to 1960. That includes three Scarab-Offenhausers which have never before been on a grid together.

1130 Settrington Cup – Race 2

A slower pace, but no less rivalry, in the Settrington Cup. The four to 10-year olds in Austin J40 pedal cars always generate a close finish – and the 2014 fixtures promise to be no different.

1150 Barry Sheene Memorial Cup – Race 2

Race two for the two-rider Barry Sheene Memorial will pick from where race one left off. See the likes of Troy Corser, Steve Plater, Michael Rutter and Steve Parrish wrestle Nortons, JABSs, BMWs and others around the historic circuit.

1240 St Mary’s Trophy – Race 2

The concluding St Mary’s Trophy race, the two-driver fixture for saloon cars between 1960 and 1969. Always a crowd favourite, expect plenty of close action.

1400 Royal Automobile Club TT Celebration

As with Saturday’s TT, today’s race for 1960 to 1964 GT cars will feature lots of well-known names. Alain de Cadenet will be in a Ferrari 250 GTO/64, with other Ferrari competition coming from Derek Bell and Anthony Reid, both in 250 GT SWB/Cs. Jaguar E-types are well represented, too, with Chris Harris, Rob Huff and Emanuele Pirro all in E-types.

1520 Jackie Stewart Tribute demonstration

Sir Jackie Stewart was first talent-spotted at Goodwood back in 1964 and, to celebrate the 50th anniversary of that career break, there will be a daily parade. Cars include the very 1964 Cooper-BMC that he was driving when Goodwood circuit manager Robin Mackay saw him driving will feature, as will the Marcos Xylon GT in which Jackie took his first race win. His three F1 championship wins will be represented by a 1969 Matra-Cosworth MS80 and a Tyrrell-Cosworth 006. In all, there are 27 cars on the entry list – each with a JYS story to tell.

Item 9 Title

1600 Glover Trophy
Lightweight high-revving 1.5-litre F1 and Tasman cars from 1961 to 1965 populate the Glover Trophy grid. Cars to look out for include the Brabham-Climax BT3 – Brabham’s first grand prix car – and the Lotus-Climax 25 in which Jim Clark won the world championship in 1963. That’s entered by Clive Chapman’s Classic Team Lotus operation.

1640 Jaguar D-type demonstration

Did you miss the Lavant Cup, the Jaguar D-type single-make race earlier? Now’s your chance to see 27 D-types, plus five XKSSs, parade around the circuit at a more gentle pace. The Lavant Cup runs again tomorrow at 1640 where you can see them compete in anger again.

1720 Freddie March Memorial Trophy

A second chance to see the Freddie March Memorial Trophy action, the first race having been on Friday. As well as the popular Jaguars, Aston Martins and Frazer Nashes, look out for the HWM-Jaguar, Lagonda V12 Le Mans, Gordini Type 23S and the Cunningham C4R

2014 Goodwood Revival: Day 2 Live Stream

Today it's real racing.  Get ready for some amazing racing action all day.  Below is the Schedule,  Keep in mind it's British time.    So program starts at 3:20 am ET Saturday

REVIVAL BROADCAST SCHEDULE

ALL TIMES ARE BST (GMT +1HR) AND SUBJECT TO CHANGE WITHOUT NOTICE.

• FRIDAY Sept 12th
• SATURDAY Sept 13th
• SUNDAY Sept 14th

0920 BRM V16 demonstration

If you missed it yesterday, you won’t to miss the sound of the BRM Type 15’s incredible 700bhp V16 engine today. It has Goodwood history, too, having taken its maiden victory in the Woodcote Cup in September 1950, and a second win later that day in the Goodwood Trophy. It will run again at 0920 tomorrow.

1000 Goodwood Trophy

The second outing for the 1930 to 1950 GP voiturette cars. The earliest car is a 1931 Bugatti Type 54, the latest a 1950 Ferrari 125/166. Well-known drivers to look out for include touring car driver Rob Huff in a Parnell-MG and GT car racer Calum Lockie is a Maserati 6CM.

1045 Chichester Cup – Race 2

Formula Junior is the arena in which many Grand Prix drivers of the late 1960s learnt their trade. These lightweight, high-revving machines always make a spectacle, the Chichester Cup being exclusively Ford powered and featuring cars built from 1960 to 1964.

1140 Settrington Cup – Race 1

A slower pace, but no less rivalry, in the Settrington Cup. The four to 10-year olds in Austin J40 pedal cars always generate a close finish – and the 2014 fixtures promise to be no different. Race two is at 1130 tomorrow.

1155 Royal Automobile Club TT Celebration – Qualifying

The TT is a two-driver race for closed cockpit GT cars from 1960 to 1964. Expect to see fierce competition from pros in AC Cobras – their number includes Giedo van der Garde, Nic Minassian, Darren Turner, Jochen Mass and Andrew Jordan. Jordan won’t be the only BTCC driver – expect rivalry from Jason Plato (Chevrolet Corvette Sting Ray), Matt Neal (Sunbeam Lister Tiger), Anthony Reid (Ferrari 250 GT SWB/C) and Rob Huff (Jaguar E-type FHC).

1255 St Mary’s Trophy – Race 1

By the time the two-driver teams get to the first St Mary’s Trophy race, rivalries will be well-established. With more BTCC drivers than ever, it’s bound to be highly competitive. Race two is at 1240 tomorrow.

1350 Jackie Stewart Tribute demonstration

Sir Jackie Stewart was first talent-spotted at Goodwood back in 1964 and, to celebrate the 50th anniversary of that career break, there will be a daily parade. Cars include the very 1964 Cooper-BMC that he was driving when Goodwood circuit manager Robin Mackay saw him driving will feature, as will the Marcos Xylon GT in which Jackie took his first race win. His three F1 championship wins will be represented by a 1969 Matra-Cosworth MS80 and a Tyrrell-Cosworth 006. In all, there are 27 cars on the entry list – each with a JYS story to tell.

1415 Barry Sheene Memorial Trophy – Race 1

Race onefor the two-rider Barry Sheene Memorial will pick from where qualifying left off. See the likes of Troy Corser, Steve Plater, Michael Rutter and Steve Parrish wrestle Nortons, JABSs, BMWs and others around the historic circuit. Race two is at 1150 tomorrow.

1500 Shelby Cup

A two-driver race for small-block V8 powered saloon cars promises plenty of action – and noise! As you’d expect, there are plenty of Ford Mustangs on the grid. Well-known drivers include current and former F1 drivers Max Chilton and Rupert Keegan, BTCC’s Gordon Shedden, Le Mans racer Jochen Mass. Henry Mann, son of Alan Mann, is also in a Mustang. Keeping them honest will be a variety of other small-block engined machinery: Ford Falcons driven by Henri Pescarolo and Rowan Atkinson respectively, a Studebaker Lark Daytona driven by Matt Neal and a Mercury Comet Cyclone driven by Emanuele Pirro.

1600 Maserati 250F demonstration

No fewer than 16 of the 29 Maserati 250Fs built are at Revival to celebrate the car’s 60th anniversary. The very first and very last built will part of this spectacular display, along with some other historically significant examples such as that raced by Juan Manuel Fangio at the Nurburgring. If you enjoy this, don’t miss them racing in the Richmond Trophy tomorrow at 1050.

1640 Lavant Cup

A rare chance to see the stunning spectacle of a Jaguar D-type single make race. With 32 cars on the entry list – including five XKSSs – it’s a spectacle not to miss. Cars to look out for include the very first prototype (OVC 501) and the 1955 Le Mans winning car (XKD 505).

1730 Whitsun Trophy

‘Unlimited sports prototypes’ is a phrase to get the pulse racing – and this is the race in which to see Ford GT40s, McLaren M1Bs and Lola T70s going wheel to wheel. McLaren’s Chris Goodwin will be at the wheel of an M1B, and there will also be a rare chance to see the McKee-Chevrolet Mahrya in action.

Goodwood Revival Live Stream Day 1

Goodwood, the temple of oversteer, where gentlemen fearlessly field their sometimes priceless cars in all out battles for the sport of it... because they can.

It's glorious. it's live!

Friday will be mostly qualifying with some notable demonstration runs : a 700 hp BRM H16 will attempt to complete more than a lap without technical issues,  something rarely accomplished in period and there will be tributes to Jackie Stewart, John Surtees and to the Jaguar D-Type.

Below is the schedule for your reference.  Keep in mind all times listed are BST.

REVIVAL BROADCAST SCHEDULE

ALL TIMES ARE BST (GMT +1HR) AND SUBJECT TO CHANGE WITHOUT NOTICE.

• FRIDAY Sept 12th
• SATURDAY Sept 13th
• SUNDAY Sept 14th

0930 Sussex Trophy – Qualifying

1010 Goodwood Trophy – Qualifying

1040 Chichester Cup – Qualifying

1110 BRM V16 high-speed demonstration

1125 Maserati 250F demonstration

1150 St Mary’s Trophy ­– Qualifying

1220 Barry Sheene Memorial Trophy – Qualifying

1300 Shelby Cup – Qualifying

1340 Jackie Stewart Tribute demonstration

1400 Lavant Cup – Qualifying

1430 Whitsun Trophy – Qualifying

1500 Fordwater Trophy – Qualifying

1530 Jaguar D-type demonstration

1555 Richmond Trophy – Qualifying

1625 St Mary’s Trophy – Qualifying

1655 John Surtees demonstration

1705 Glover Trophy – Qualifying

1735 Freddie March Memorial Trophy – Qualifying

1815 Sussex Trophy

20 D-Type Jags duking it out....

That's just one thing on the menu this week end at the glorious  Goodwood Revival which you will be able to see live on Axis of Oversteer this week end.

Highly entertaining racing for the whole week end with all kinds of cars and yes, Spitfires, both of the flying and 4 wheeled varieties!

Tune in starting 9:30 am BST (3:30 am ET) for the first day of qualifying.

Members Only

Photos Jochen Van Cauwenberge/Frozenspeed

If the Goodwood Revival is not enough awesome for you, check out the revived Members Meeting held this past week end on Lord March's estate. Open only to members of the Goodwood Racing Club, the Meeting last took place in the 1950s and unlike the Revival, held every year in September, it allowed some more modern machinery on track, if only for a demo run.

Just like at the Revival, you have to love these guys mercilessly  beating on these priceless machines, because the worst thing you can do to a race car is to leave it parked.

Have a look at the first highlight clip, if you like it, plenty more after the break.

Monkey Revival!

Flickr/Seberry67

Check out Chris Harris getting really out of shape a Lister Jaguar at the Goodwood chicane...  will Monkey make it stick?....

check it out after the break!

A Ford GT40 in the wet is quite a handful.

Kenny Brack manhandling Adrian Newey's Ford GT40 on a wet Goodwood track during qualifying for this year's special GT40 only race celebrating 50 years of the iconic American racer.

You can watch the amazing Goodwood revival live on YouTube as it's happening streaming live on Youtube, after the break.

160 Million Dollars, Sideways!

Axis friend Alex King sent us the final edit of his video from this year's Goodwood Revival.
Alex,  working with Derek Hill,  shot the whole thing on a Super 8 film camera and cut it period newsreel style to a script by Abbey Smith.   My favorite line: "Here's Derek with his Cobra co-driver Kenny Brack, former Indy car driver and he's also Swedish!".

Watch Alex's clip for the flavor first then have a look at these clips from a few of the races held at Goodwood.    The first is the St.Mary's Trophy,  maybe the "crappiest "cars  but some of the most amazing racing and driving of the week end.   Brakes?  they are for woosses and only slow you down,  chuck it and deal with it!

Thanks Alex!



More races after the jump

Ride a Monster Tiger in the Temple of Oversteer

Tiny car + small block Ford V8 x Bias Ply tires = Awesome.  The famous 1965 Sunbeam "Monster" Tiger driven at the 2012 Goodwood Revival by Tom Dyer.

It will be worth your while to set the video to full screen HD and check out the footwork. One of the cool things about the Goodwood circuit is that with its long sweeping corners, it requires little brakes. Which is just as well because period cars had no brakes.

Anyway, brakes only slow you down!

Dan Gurney for President gets our vote!

A Goodwood Revival, possibly the best race on the planet, highlight reel from The Telegraph.

Count how many times you yelled out "NOOOOOOOO" in just this one clip! For the record something like a billion dollars worth on machinery in attendance this year.

The long history of an oddball Ferrari

Granted any race car from 1955 is bound to have had a colorful existence by now but the history of the Ferrari 857S chassis number 0588 is something else, I mean the car was owned by Andy Warhol for a time!

Towards the end of 1955 Ferrari was getting its butt kicked by Mercedes and their super advanced 300SL driven by Stirling Moss. Maranello's band aid solution was to bore out the 750 Monza's four cylinder from 3 to 3.4 liters upping horsepower to 280. Same chassis, same brakes, what could possibly go wrong?

The car was slated to enter the RAC Trophy in Ireland but Olivier Gendebien rolled it in practice, 0588 never raced and was shipped back to Italy while Ferrari's engineers went back to the drawing board.

What happens next is so typical of the period:

"Commendatore, what do we do with 0588, she's a big ball of tubes..."

"Send it to Scaglietti, have them put it back together and then we'll sell it"

"Commendatore, who's going to buy an obsolete race car that was crashed?"

"Sell it to the Americans"

And that's how 0588 was sold to a Mr. John Edgar as a brand new car in 1956. In the USA, 0588 had a successful career and was raced by the likes of Caroll Shelby.

From there it ended up stored for years, it had an American V8 put it and raced some more, it was painted yellow, it was repainted red, it had a Ferrari V12 installed, it was used as a street car, it was sold to Andy Warhol in the late 60s...colorful history, probably got parking tickets in New York City.

Eventually the car made it's way to Minnesota, then back to New York then to the UK then back to Italy until it was purchased by Ferrari experts DK Engineering and restored to original spec.

The car was back at the Goodwood Revival this past year shredding tires in classic four wheel drift form. Kudos to those who invest in preserving these automotive treasures and have the courage to keep them alive by thrashing them on the track once in while!



(DK Engineering)

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2011 Goodwood Revival: Temple of Oversteer, Part 3.

(photo: Stephen Maddalena)
How do you top the previous two races? Simple, add water!

That and increase value to stratospheric levels. Ok so, the recession took a bit of a bite, last year the combined value of the cars on track for the Goodwood TT was estimated to be a quarter of a billion pounds, this year the estimate is closer a a measly 100 million pounds.... but as I said, you add water.

We gave Martin Brundle some stick for being a bit slow with Nick Mason's 30 million pound GTO (gee, I can't imagine why he's be careful with it!...) Obviously Martin reads Axis and was embarrassed because this year he holds little back, and it was the first time he drove the car in the rain! Nice ripping Martin!

Check it out, it's a lot of fun, oh did I mention the bread van? Check out some pictures after the jump.





Photos: 8W

2011 Goodwood Revival: Temple of Oversteer, Part 2.

(photo: 8W)

Whitsun Trophy, 1963-66 prototypes, add horsepower and Adrian Newey almost getting wiped out in his GT40.

See Part 1: Early 1960's Touring Cars here.
Part 3: Mid 1960's Sports Cars : HERE


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2011 Goodwood Revival: Temple of Oversteer, Part 1.

(photo: Jez B)

On the eternal bucket list, the Goodwood Revival has a simple, timeless formula: pro drivers in old cars with skinny tires with no brakes on a fast flowing circuit. What could possibly not be awesome about it?

The event is broken up in various "trophies" for various classes and time periods, we'll start with the St. Mary's Trophy for 1960's touring cars. The field could not be more eclectic: Ford Galaxie, Jaguar Mk II, Lotus Cortina, Mini Cooper, Alfa GT and BMW 1600.

The drivers, Darren Turner, Emanuele Pirro, Tom Kristensen, Andy Priaulx, Tiff Needell, Eddie Cheever, Jackie Oliver, are having a blast, you'll enjoy the show!



Here is part 2: Prototypes 1963-1966

And part 3: 1960's Sports cars, GTO vs Cobra vs Bradvan!

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Snake on the track

Shelby Cobra Daytona Coupe driven by Tom Kristensen at the 2011 Goodwood Revival, the best historic racing event on the planet.
Photograph by Julien Mahiels.

$35 million is not enough...

(Telegraph.co.uk)

I wonder is Stephen Mitchell ever has second thoughts about selling his... In any case, Steven's memories are priceless.