Auctioning Off The Pinnacle Collection: Record After Record
A few weeks ago, I showed you a ludicrously rare Mercedes-Benz 300SL Alloy Gullwing Coupe, which was set to be sold with the rest of the Pinnacle Collection. Said collection was one of the most extensive to ever be put on sale by a single owner. Experts believed that the whole lineup was worth around US $65,000,000.
In the end, even their best expectations were exceeded. With total sales of $67,006,500 USD, the Pinnacle Portfolio Collection becomes the most expensive ever sold, beating the previous record holder (the Andrews collection) by more than $13 million USD.
But that’s not all.
A few of the vehicles that changed ownership also set individual sales record. For example:
- A 1993 Jaguar XJ220 was sold for $462,000 USD (the previous record was $309,610 USD)
- A Ferrari Enzo that belonged to the Pope more than tripled the car’s previous best ($1,925,000 USD) with a final bid of $6,050,000 USD
- Its ancestor, the 1995 Ferrari F50, just about reached the 2 million dollar mark, selling for $1,980,000 USD
- The very first Bugatti Veyron to leave the factory, a 2006 model, sold for $1,815,000 USD.
- A beautiful 194 Ferrari LM –one of only 32– was auctioned for $17,600,000 USD, more than $3 million over the last record ($14,300,000 USD)
The list goes on (Maserati MC12, Ferrari F40 LM, Mercedes-Benz SLR McLaren).
More than a few experts suggest that the value of exotic cars will keep climbing, as the international market is stronger than ever.
What if…
Ironically, three of the most sought-after cars failed to sell, their reserve price failing to be met.
The 1960 Ferrari 250 GT SWB Berlinetta Competizione, the 1959 Ferrari 250 GT LWB California Spyder and the aforementioned 1955 Mercedes-Benz 300SL Alloy Gullwing Coupe. In their cases, the auctions stopped at $13.2 million USD, $8 million USD and $4.5 million USD, respectively.
Better luck next time.