The pre-war Phantom trilogy — overhead-valve six, sporting Continental chassis and finally the legendary V12.
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 | Not separately recorded | First overhead-valve Phantom; Derby and Springfield production. |
| Phantom II (standard / Continental) | 1929–1936 | Not separately recorded | New underslung chassis; Continental short-chassis is the sporting variant. |
| Phantom III (V12) | 1936–1939 | Not separately recorded | 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.
| Date | Auction | Car | Mileage | Result |
|---|---|---|---|---|
| 2026-03-06 | Broad Arrow The Amelia Auction 2026, Lot 288 | 1927 Phantom I Brewster 'Playboy' Roadster | — | $335,000 Sold |
| 2026-03-06 | Broad Arrow The Amelia Auction 2026, Lot 236 | 1926 Phantom I Brewster Newmarket Convertible Sedan | — | $106,400 Sold |
| 2026-01-23 | RM Sotheby's Arizona 2026, Lot 188 | 1929 Phantom II All-Weather Tourer (Thrupp & Maberly) | — | $173,600 Sold |
Sporting Continentals and well-bodied dropheads are firm; formal cars are usability buys with limited upside.
Our view, not advice. This section is Car Collector International's editorial judgement on where this model sits in the collector market, based on the production, specification and market data set out in this guide. It is not a recommendation to buy or sell and it is not investment advice. Values can fall as well as rise.
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The valuation figures in this guide are for research purposes only and do not constitute financial or investment advice. See our full disclaimer.
