A 1987 Ford Sierra Cosworth RS500 in Black showing 5,200 miles has sold for almost £600,000 at auction, setting a new world record price for the model. The RS500, with just 5,192 miles on the clock, went for £596,250 at the Silverstone Auctions Race Retro sale.

Described as ‘perhaps the finest example of Ford’s most desired Cosworth ever’, buyers clearly agreed with the marketing and frantic bidding ensued, with the car eventually selling for almost four times its pre-sale guide of £150-£180k.

The previous record price for a Sierra Cosworth was £132,750, which was paid last year at Silverstone for a car with 9k miles. Recent Cosworth valuations for cars with up to 30k miles have all been circa this figure, but it is clear that the market for low-mileage examples has significant potential.

While the 5k-mile car was said to be offered by a ‘knowledgeable and particularly fastidious enthusiast’, this describes most of the RS500 owners I deal with. The car had been regularly serviced and maintained by Southampton-based classic Ford specialist Tremona Garage, including a complete recommissioning service during 2022.

The selling price of this car may lead to a rise in supply of higher-mileage examples at auction through to Q3 2023. Anyone with an RS500 Cosworth insurance valuation should be very aware of this new benchmark and update their valuation accordingly!

Photo by Silverstone Auctions