When you hear the word “Classic” that usually means there’s a rich story to tell, that means you’ve got a historical even, something the public considers to be the best of its time, hence the name. But in the 21st century “Classic” also means expensive. Call it retro, call it vintage – doesn’t change the fact that if it’s got about 50 years on it, give or take, the price will be ridiculously high. Vintage coins, vine, pieces of art, and, of course, cars – they all come with ground-breaking tags, all because we love a touch of class in our lives, even though human beings are always craving for something new. That’s a compromise, I guess, one that the auction folks know very well about and make big-time money on. Today we’ll talk about 5 million-dollar deals on classic cars that took place at the Scottsdale Auctions. Note: retro Ferrari models still rule the line-up, and nobody can compete with the Italians.
250 Million Dollars On Vintage Cars, 100K On Average
So, if you, buy any chance, have an old, rusty and crappy vehicle with that horse on the badge that’s been in your garage since before the Beatles became legendary, you better hurry it up and make it to the next auction, because cars like that today are worth millions. However, there are some new tendencies going around, so, again, you need to be swift about it. Now, despite the fact that the auctions in 2016 had more cars to offer, cumulative sales were down about 40millon dollars, while the average sale price dropped by 15K. Furthermore, this year they sold 25 cars for over a million, while last year the number was 34. Bidding was cautious, and nobody was willing to act tough. Still, if you were hoping for a total market crash to grab, say, a 911 RS for 1K or something like that, think again. Dig this: between the major 6 auctions almost 2.5K vehicles were sold. 100K was the average price and the rich folks spent 250 million dollars on vintage steel! So, yeah, the market is still pretty much alive and kicking. Alright, so, let’s discuss the 5 million-dollar deals on classic cars – the best of the best.
#1 – A 2003 Ferrari Enzo
So, as I just said, there’s no shortage of Ferraris at any big-time auction, and 2016 was no exception. Still, the Enzo is not just your “regular” Ferrari (I can’t believe I just said that): it’s a special one, because the North American branch picked it as the representative at the 60th anniversary Concours almost a decade ago, back in 2007. It’s got only 2.7K miles behind its back and that automatically makes it one of the most wanted V12-powered red beauties on planet Earth. That engine is good for 651 Horses (including the one that’s printed on the steering wheel) and, with just the right help from the Formula One-designed aerodynamics, the car can reach a max speed of 220MPH, some say even more. So, yeah, the new owner is a lucky man, no doubt about it, but he had to pay 2.8 million dollars for the Red Streak, and that’s no joke, ladies and gentlemen: for example, you can buy more than 100 Ford Mustang or Chevy Camaros with that kind of money (I would split the sum 50/50 between the two). Can you imagine that – 100 legendary muscle cars in your garage versus one Ferrari?
5 Million-Dollar Deals On Classic Cars – #2, A 1929 Duesenberg Model J
True, Ferraris, Lambos, Bentleys and Maseratis do cost a fortune, but, except for the first brand, none of the remaining three know even half of what the Duesenberg has gone through. When you hear the word classic you better think of this old-timer, because it doesn’t get any more retro, vintage and premium than this one. And of all the models from the brand the Model J is probably the most wanted among car enthusiasts. There were only 25 units made, and only FOUR of those retained their original coachwork. Hey, I bet you can imagine now why folks are lining up for it. Back in the ’30s and ’40 Model Js were the vehicles of choice for the Hollywood stars and the industry leaders. And today this particular car was sold at RM Sotheby’s for 3 million American dollars. Of the 5 million-dollar deals on classic cars the deal on the Duese was probably the most intriguing one. So, if you notice somebody cruising down your block behind the wheel of a Duesenberg you better take a pick and share it on Reddit or something, because these babies are as rare as they come.
#3 – A 1967 Ferrari 330 GTC Speciale
Yep, we’ve got another Ferrari in our list (and there’s gonna be a third), and this one is a special car (hence the name). For a period of time the Italian brand’s GT models from the ’60s were not exactly popular with collectors and auction folks and the price on one was really-really low. People loved the race track-ready 250 series, without any attention to the 330s. Well, today we’ve got a completely different picture. At the 2016 Gooding & Company auction a ’67 330 GTC Speciale was sold for 3.4 million. This baby comes packed with a mighty V12 engine, which is largely shared by all the Ferraris of that era; however, it’s not just a factory-built 330s. No, this particular model is one of the lucky four that were hand-designed by none other than Pininfarina, Ferrari’s major talent when it comes to custom cars. The GTC Speciale boasts a unique design, and that’s why it costs more than a regular family could ever hope to save in a lifetime. Don’t be sad, though, a ’67 car is just a piece of junk anyway :).
5 Million-Dollar Deals On Classic Cars – #4, A 1950 Ferrari 166 MM/195 S
As promised, ladies, and gentlemen – welcome the 3rd Ferrari in today’s list. The 166MM models were one of the first coupes ever created by the mighty F, so, they’ve got a pretty significant place in the company’s history. This retro stud packed an impressive Columbo 2.0-lit V12 and featured a Touring-built body design that was the template for all the Ferrari cars to follow in the next 2 decades or so. And even though the 166MM Ferraris are quite special, this one is even more so: back in the day it was a race track-champ, driven by a legend, Mr. Briggs Cunningham; he upgraded the car to keep up with then-contemporary 195 S characteristics, and it was quite popular in America, thanks to a strong marketing campaign. So, the full name for this incredible vehicle is 1950 Ferrari 166 MM/195 S Berlinetta Le Mans, and it was sold for staggering 6.5 million dollars at Gooding & Company.
#5 – A 1937 Mercedes-Benz 540K (Special Roadster)
Alright, guys, we finally arrived at our destination – the most expensive of the 5 million-dollar deals on classic cars in 2016, the ’37 Mercedes 540K. This is a 100% drop-dead gorgeous piece of art, and if you are a true fan of vintage icons this car will hit that awesome meter like crazy. By the way, the 540K was sold during the company’s 130th birthday week, so that’s double congrats to the Germans! Back in the times of the Great Depression these premium Mercedes models were sold for 14K, right up to WW2. There were 419 units built; however, the experts claim that only 6 540Ks survived. Aha, the Special Roadster is sa rare as the Model J, and it’s super-dope as well, and that’s why it set a world record of the most expensive car ever sold at the Scottsdale Auctions. The new owner had to pay – drum roll, please – 9.9 million dollars! So, yeah, Ferraris can occupy the auctions as much as they want, but they’re still not a match for a vintage Mercedes. And that’s it for today, guys, drive safe and appreciate retro cars!
Check out this video – Million Dollar Classic Cars! Bugatti, Rolls Royce, Jaguar, Ferrari 250 GTO, Ford Model T.