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Posts Tagged ‘class car auctions’

Pebble Beach Auction Tally Tops All-Time Record

$11 mil for a Ford.

by on Aug.20, 2012

This GT40 Le Mans winner nabbed an $11 mil. all-time record bid for a Ford.

What economic downturn?

Auctioneers gaveled in a record $260.3 million in sales over the long Pebble Beach Concours d’Elegance weekend, shattering last year’s $197.5 million tally, according to preliminary numbers compiled by Hagerty Insurance, which specializes in classic and exotic automobiles.

The strong performance came despite a decline in the actual number of vehicles being auctioned off during the four-day gathering. And the figures actually could go higher as some cars that didn’t hit their minimums during the auction could still be sold before the five biggest auction firms break down their tents.

The top seller was a 1936 Mercedes-Benz 540K Special Roadster that garnered a winning bid of $11,770,000 at the Gooding auction house.  That was more than many had anticipated – but fell short of the $15 million figure some had expected.

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Perhaps the biggest surprise, however, was the $11,000,000 that RM Auctions nabbed for a 1968 Ford GT40 Gulf/Mirage Coupe. It has a strong pedigree among the very limited run of supercars that the late Henry Ford II ordered built after the Detroit maker failed in its bid to purchased Ferrari, back in the 1960s.  This particular GT40 won the grueling 24 Hours of Le Mans endurance race four years in a row, from 1966 to 1969.


World’s Oldest Auto Goes for $4.6 Mil at Auction

Bidding doubles initial estimates.

by on Oct.10, 2011

Bidding doubled initial estimates for the De Dion "La Marquise," the world's oldest car.

It’s slow, rough and belches smokes, but that wasn’t enough to keep an unidentified bidder from spending $4.6 million to acquire an 1884 De Dion Bouton et Trepardoux Dos-a-Dos Steam Runabout at the RM Auction in Hershey, Pennsylvania.

More commonly known as “La Marquise,” for Count De Dion’s mother, the coal-fired three-wheeler is the oldest surviving automobile in the world.  The $4.2 million winning bid was more than double the original, $2 million estimate.  The auction house added another $420,000 in commission.

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The buyer will be only the fifth since La Marquise was built – one of 20 to be assembled by the Count, among the earliest proponents of the automobile.  In fact, the De Dion Runabouts were produced two years before Carl Benz rolled out his first vehicle, which the German maker Daimler AG bills as the first true automobile.  That is a matter of semantics, as the De Dion design ran on steam power rather than using an internal combustion engine, as the Benz model did.