Solid 50-percent appreciation for a Bavarian roadster and a Bolognese sport-ute sold at auction in Detroit this past weekend show that multi-million-dollar classics aren't the only cars that can prove a wise financial investment.
This is the car that started a string of victories for Ferrari at the Tour de France in the hands of the Marquis de Portago, securing its handle and place in history. Now it's going up for auction in Monterey.
Lamborghini showcased a one-off Gallardo speedster in 2005 called the Concept S. It was sold to a private collector, but now it's going up for auction in Manhattan, where you can bet it'll fetch millions.
RM Sotheby's sold more than $53 million in classic cars and automobilia for Paul and Chris Andrews last weekend in Fort Worth, TX, headlined by this 1962 Ferrari 400 Superamerica that went for a record $7.6 million.
The newly united RM Sotheby's was the official auctioneer at the 2015 Amelia Island Concours d'Elegance, selling more than all the other auction houses present combined. And the top lot was this 1960 Ferrari 400 Superamerica SWB Cabriolet in gorgeous green with red leather, fetching a record $6 million for charity.
The beautifully curvaceous Buick Blackhawk concept was made in the early 2000s, and the one-off was largely constructed from vintage components from the brand. Once part of the General Motors Heritage Fleet, the Blackhawk was sold off in 2009. Now, the car is crossing the auction block again with no reserve as part of RM Auctions sale of the Andrews Collection on May 2, 2015.
Between Barrett-Jackson, RM Auctions, Gooding & Company and Bonhams, this weekend saw over $292 million in classic cars and trucks change hands in Scottsdale, Arizona. These are the top ten most valuable lots, a list dominated by Ferraris – starting with the $9.6-million 250 LM.
This rare Miura SV, one of only five converted at the factory to Jota specification, promises to be the most expensive Lamborghini ever sold at auction... if it meets its pre-sale estimate of $2-2.6 million.
Barn finds are the absinthe of the collector car world right now. They're highly intoxicating and a bit of the 'flavor of the month.' An actual barn isn't necessary, just some form of out-of-the-way long-term storage that involves a car being out of circulation for a long period of time, remaining complete with the time-capsule-like detritus of their slumber-yellowed newspapers, vintage eight-tracks or real pay dirt like a telex printout from Howard Hughes or a receipt from the Playboy Club. RM
It seems like the retro design aesthetic in autos might be petering out, with even a former poster child like the Ford Mustang taking a step in a more modern direction. Sometimes those updates of old-school models really worked well, though. Just take a look above at the Lincoln Continental concept from 2002 that took the extruded shape of the 1960s version and updated it for the new millennium.
Of the 21 multi-million-dollar lots sold over RM Auctions' two-day Monterey event, the top six were Ferraris while the top four were members of the vaunted 275 family. In total, 13 of the 21 seven- and eight-figure entries bore the yellow shield and prancing horse of the Scuderia.
Some of the biggest auto auctions of the year are held during the weekend of the Pebble Beach Concours d'Elegance. Millionaires gather in hopes of outbidding their contemporaries for incredibly rare cars. As Bonhams' record sale on Thursday of a 1962 Ferrari 250 GTO for $38 million showed, these days the world's most expensive vehicles are found at auctions, often with a prancing horse on the nose.
Think of mid-engined supercars and your mind is bound to gravitate towards Europe, but the United States has been known to make a handful from time to time – exceptional vehicles from the likes of Vector, SSC, Mosler, Hennessey, and Saleen. But long before any of those came around, Ford famously became obsessed with beating Ferrari at its own game, leading to the development of the iconic GT40.
The history books are filled with defunct American automakers, from Duesenberg and Studebaker to Plymouth and Pontiac. But few of them are as missed by vintage automobile enthusiasts as Mercer. The company only operated between 1909 and 1925, but in that short span of time it produced one of the earliest, most successful racing machines: the legendary Type 35R Raceabout.
We know from many, many years of watching classic car auctions, that there are certain qualities that ensure big money. For example, putting tiny silver horses and/or yellow badges on a red car will probably bring in a lot of cash. This is doubly true if said car hails from the 1950s or 1960s, and it's triply true if some dude drove it around in circles or if a celebrity owned it. That, friends, is how you make the serious dosh at auction.
RM Auctions has some very special and expensive Italian sportscars of the 50s and 60s consigned for its auction in Monaco on May 10, but the one that currently carries the highest estimated value at between 4 and 5.5 million euros ($5.5 - $7.5 million) is a 1956 Maserati 450S with some very interesting provenance.