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Classic car Caddy Eldo

RM Sells Over 35,000 Horsepower at San Diego Auction

102 cars were sold recently at the RM Auctions Classic Muscle and Modern Performance event, including a $231,000 1969 Chevrolet Corvette 427/435 Convertible and a $401,500 1969 Chevrolet Corvette L88. The full release from RM Auctions can be found below:

SAN DIEGO, CA (June 21, 2010) - A total of 102 automobiles, including many high-horsepower Detroit muscle cars combined with a selection of AMG Mercedes-Benz and M-Powered BMWs, crossed the auction podium today at RM Auctions' Classic Muscle & Modern Performance event, resulting in $6.9 million in sales and a 100 percent sell through rate.

"Overall, we saw some very strong prices for both select, rare and outstanding muscle cars as well as on the like-showroom-new, late model cars, and it was very encouraging," Ian Kelleher, President and COO, RM Auctions.

Detroit Muscle entries were led by the Corvette marque's overall solid showing at today's auction, including achieving the top-seller of the day with a super-rare, tire-shredding 1969 Chevrolet Corvette L88 selling for $401,500. Other Corvette highlights include a 1969 Chevrolet Corvette 427/435 Convertible out-performing its high pre-sale estimate by fetching $231,000, and a 1967 Chevrolet Corvette 427/435 Roadster realizing $214,500. The late-model BMWs and Mercedes-Benz also enjoyed a strong performance.

RM's San Diego event continues the company's strong presence in California which has included a string of highly successful private collection sales in recent years.

RM's busy summer season continues with two of its annual events: the Vintage Motor Cars of Meadow Brook held in conjunction with the Concours d'Elegance of America at Meadow Brook in Rochester, Michigan on July 24; and, the Sports & Classics of Monterey event in California, August 12 - 14, 2010.

Complete results of the Classic Muscle & Modern Performance event are posted online at www.rmauctions.com

About RM Auctions RM Auctions is the world's largest auction house for quality automobiles. With over three decades of experience in the collector car industry, RM's vertically integrated range of services, from restoration to private treaty sales, auctions, estate planning and financial services, coupled with an expert team of car specialists and international footprint, provide an unsurpassed level of service to the global collector car market. RM proudly holds five of the top 10 - and more significantly, four of the top five - all time records for the most expensive motor cars sold at auction. RM's restoration division has achieved unprecedented accolades earning "Best of Show" honors at the world's top concours events. For further information, visit www.rmauctions.com.

World's Largest Collector Car Auction House To Offer Iconic Ferrari 250 Testa Rossa In Monterey

One of the headliners of RM Auctions' 25th anniversay Sports & Classics of Monterey Event will be a rare 1958 Ferrari 250 Testa Rossa. For more on the car, check out the complete release from RM Auctions:

BLENHEIM, Ontario (June 10, 2010) - A rare 1958 Ferrari 250 'Pontoon Fender' Testa Rossa, serial number 0738 TR, will be presented at RM Auctions' 25th anniversary Sports & Classics of Monterey event in August, making it the most significant and valuable motor car ever offered during Monterey's famed collector car auction week.

Considered one of the most highly-sought-after and iconic of all Ferrari racing cars, the beautiful and unmistakable Scaglietti-designed 'Pontoon Fender' 250 Testa Rossa was produced from 1957 to 1958 during which only 21 were constructed, including 0738 TR. Delivered new to Brazilian Jean-Louis Lacerda Soares, 0738 TR was raced for several seasons in South America under the Esquardari Largatixa banner where it recorded a number of successful finishes. For the past 14 years its current owner, a gentleman racer, has extensively campaigned 0738 TR in its yellow and green Brazilian racing colors, recording numerous wins and podium finishes at the world's most prestigious historic racing events. (Estimate Available Upon Request).

"RM's recent record-breaking Monaco sale coupled with the steadily improving economic climate demonstrates the ideal time for the debut of this rare and coveted Ferrari 250 Testa Rossa at auction in Monterey this August," says Rob Myers, Chairman and CEO, RM Auctions. "In May 2009, during a period many considered the depths of the global recession, RM set the current world record price for a car sold at auction with another pontoon-fender TR selling for $12.4 million. That result was a true testament to the demand for these iconic Ferraris and is indicative of the strong potential for this example to set yet another auction record."

Continuing RM's global leadership in the presentation of historic Ferraris at auction - holding seven of the top 10 all-time auction records for the marque - 0738 TR is joined by no less than 22 other exceptional vintage Ferraris in Monterey. Notable entries include: a highly-desirable, covered headlamp 1959 Ferrari LWB California Spyder, s/n 1489 GT, (Est. $2,750,000 - $3,250,000) delivered new to Prince Vittorio Emanuele di Savoia; a rare 1959 Ferrari 410 Superamerica, s/n 1323 SA, (Est. $1,600,000 - $2,200,000) one of only 12 Series III Superamericas built; a fully-restored 1957 Ferrari 250 Pininfarina Spyder Series I, s/n 0979 GT, (Est. $1,600,000 - $1,900,000); and a stunning, multi-award-winning 1966 Ferrari 500 Superfast, s/n 8565 (Est. $800,000 - $1,000,000).

1936 4.3 Litre Alvis Headed to Goodwood Festival of Speed

 

Long before Sir Alec Issigonis served up the Austin Seven, later known as the Mini, he was a member of the Alvis Company, a British automaker whose history traces back to 1919. Alvis' tenure in the U.K. auto industry lasted through 1967 and, more than 40 years later, the company's remains will re-introduce its famous, pre-war 4.3 Litre model at the upcoming Goodwood Festival of Speed. The 4.3 Litre Alvis will draw upon the original blueprints from 1936 but utilize modern components including emissions-control equipment and fuel injection for the inline-six engine. The 2010 Goodwood Festival of Speed is open to the public starting July 2.

The press release may be found below:

 

21st Century future for legendary Alvis model

The Alvis Car Company will be using the Goodwood Festival of Speed next month to announce details of a unique project to re-introduce a renowned 1930's Alvis model using the original technical drawings, allied to the latest CAD/CAM technology.

Red Triangle, the well-established Alvis service company, which owns the Alvis cars brand and trademarks, has evidence from the original Alvis company board minutes that 77 of the chassis that were officially sanctioned for production were never fulfilled because car production had to be suspended in 1940. The newly formed Alvis Car Company will announce details of a continuation series of these cars at Goodwood and will be displaying on their stand a brand new 4.3 Litre chassis and engine. These are the first steps towards the reintroduction of the famous Alvis 4.3 Litre model, 71 years after the last 4.3 Litre Alvis was produced.

The 4.3 Litre Alvis was the fastest non-supercharged production car of its day, and the continuation series will live up to that heritage. Manufactured from the original drawings, the 4.3 Litre Alvis in-line six cylinder engine will be faithful to the 1936 design, in maintaining all its period character and quality, yet by utilising modern technology it will be emission compliant. Moreover, by using modern materials, fuel injection and engine management, this powerplant will deliver even more horsepower.

"This is part of our overall business plan," said Alan Stote, Red Triangle and Alvis Car Company proprietor: "to maintain service to existing Alvis owners but also to reintroduce selected authentic Alvis models in line with the vision of the Alvis Board all those years ago. Visitors to Goodwood will be able to see the first stages of that plan."