RM Sotheby's

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Only Corvette ZL-1 convertible could fetch $3M

The 1969 Corvette ZL-1 Convertible is one of Chevrolet’s rarest vehicles and it’s heading to RM Sotheby’s auction in Phoenix, Arizona, auction in January. Only two Corvettes Stingrays were equipped with the 7.0L ZL-1 V8 from factory and only one is a convertible. The auction marks the first time a Corvette with a ZL-1 engine has been offered to the public in 30 years, and the only time a convertible with this engine has been available for purchase. This ultra-rare Corvette was never intended for public sale. It’s anticipated to fetch between $2.6- $3 million,  which would make it one of the most expensive Corvettes ever sold. The current record is an L88-powered 1967 example that sold for $3.85M in

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Auction backfire halts rare Porsche sale after $53 million mistake

What’s a $53 million error among friends, collectors and vintage Porsche fanciers? It likely what was the biggest blunder in car auction history, an auctioneer with a hard-to-decipher Dutch accent at RM Sotheby’s on Aug. 17 during Monterey Auto Week began bidding on a 1939 Porsche Type 64 at was heard at $30 million. The starting bid for the one-of-kind vehicle was actually $13 million. It’s what was expected for the spacecraft lookalike. Only three of the cars were built and the prototypeup for auction is the only survivor. But monitors in the room showed the bid at $30 million. It quickly escalated to $40 million, $50 million, $60 million and then $70 million. While a stunned and quickly confused

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Ferrari, Duesenberg combine for $70 million auction records

Rare cars selling for high prices is nothing new at Classic Car Week on the Monterey Peninsula. But several records were set this year, including a 1962 Ferrari becoming the most expensive car ever sold at auction and a 1935 Duesenberg becoming the most expensive American car ever sold at auction. The Ferrari 250 GTO, sold at RM Sotheby’s on August 25 as part of the Pebble Beach Concours d’Elegance, fetched $48.4 million. The 1935 Duesenberg SSJ formerly owned by Gary Cooper sold for $22 million at the Gooding & Co. Pebble Beach auction. It was also the most valuable pre-war car ever sold at auction. The two records helped catapult total sales for the collectible car auctions to about $368 million, a 12 percent

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