The pre-war Phantom trilogy — overhead-valve six, sporting Continental chassis and finally the legendary V12.
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The Phantom I (1925–1931) replaced the Silver Ghost with a new overhead-valve 7,668cc six-cylinder engine. The Phantom II (1929–1936) introduced a fully revised chassis with hypoid rear axle and underslung frame, with the sporting Continental short-chassis variant becoming a coachbuilders' favourite. The Phantom III (1936–1939) brought a 7,338cc V12 — Rolls-Royce's first — with independent front suspension. Coachwork by Park Ward, H.J. Mulliner, Hooper, Barker, Brewster and others gave each Phantom a unique character.
Three generations of the pre-war Rolls-Royce flagship, culminating in the technically ambitious V12 Phantom III.
| Variant | Years | Production | Notes |
|---|---|---|---|
| Phantom I | 1925–1931 | — | First overhead-valve Phantom; Derby and Springfield production. |
| Phantom II (standard / Continental) | 1929–1936 | — | New underslung chassis; Continental short-chassis is the sporting variant. |
| Phantom III (V12) | 1936–1939 | — | Last pre-war Phantom; 7.3-litre V12 and IFS. |
For pre-war and vintage cars such as the Rolls-Royce Phantom I / II / III, provenance is paramount. Chassis and engine number matching, period coachbuilder records, factory build sheets where available, continuous ownership documentation, original handbooks and any competition or concours history are the foundation of value. Continental short-chassis specification, top-rank coachwork, original engine and chassis pairing, and recent V12 rebuild for Phantom III.
Phantom I/II sixes are robust if serviced; the Phantom III V12 is complex and sensitive to coolant condition, ignition timing and lubrication — verify a recent specialist rebuild on any car bought to drive. A pre-purchase inspection by a recognised marque specialist should include compression and leak-down testing, magneto and ignition checks, chassis straightness and frame survey, axle and steering wear assessment, brake system review (mechanical or hydraulic per period), and an extended road test on varied terrain to expose carburation, cooling and gearbox issues that only emerge under sustained running.
Pre-war coachwork is rarely truly original after a century of use. Establish whether the body is original to the chassis (period photographs, build records, coachbuilder plates), whether it has been re-bodied at any point, and the standard of any restoration. Quality of timber framing, ash health, panel beating and paint depth are all critical. Concealed structural rot, re-bodies presented as original, and 'tribute' cars built on later or unrelated chassis must be priced accordingly.
Phantom II Continental chassis with sporting open or drophead coachwork by Mulliner, Gurney Nutting or Brewster lead values; Phantom III demand depends heavily on V12 mechanical condition. For vintage cars, event eligibility — Mille Miglia, Goodwood Revival, Pebble Beach, VSCC events, Le Mans Classic — can underwrite a substantial proportion of market value. Verify FIA/FIVA papers, period race history where claimed, and the car's standing with the relevant marque registry before purchase.
Regional ranges authored independently — each reflects its local market, not an FX conversion
Vintage cars require disciplined preventive maintenance: lubrication regimes, magneto service, carburettor synchronisation, brake adjustment, and timber and trim conservation. A car used regularly and serviced annually by a specialist will outlast a stored example neglected for decades.
Excellent RREC support; Phantom III V12 specialists are a small and specialised group. Confirm the availability of marque specialists, period-correct fasteners, coachwork trim, instruments and tyres before committing. A car requiring fabricated one-off parts will absorb time and cost that a similar example with active specialist support will not.
Each region quoted in its local currency — independent market readings, not FX conversions
Sporting open coachwork from top builders remains strong; formal closed coachwork continues to soften. Phantom III values are sensitive to V12 condition — a sound engine adds materially to value.
| Date | Auction | Car | Mileage | Result |
|---|---|---|---|---|
| 2025-01-25 | RM Sotheby's Arizona | 1933 Phantom II Continental DHC (Gurney Nutting) | — | $632,000 Sold |
Sporting Continentals and well-bodied dropheads are firm; formal cars are usability buys with limited upside.
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Register interestThe valuation figures in this guide are for research purposes only and do not constitute financial or investment advice. See our full disclaimer.
