[Vtow] March 3, 2012: Classic car auctions breaking records

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Sat Mar 3 07:07:12 MST 2012


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Classic car auctions breaking records
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With investors uncertain about where the real estate market is heading, and whether the tumultuous stock market has settled down, more and more people seem to be parking their money in classic cars. McCormick's Collector Car Auction in Palm Springs, Calif., saw record crowds and record revenues.This is a continuation of upward trends seen at the McCormick's auction, now in its 26th year of operation.In 2011, the company's sales were up 30 percent, to $11,645,439.The company's previous auction, last November, sold 550 cars for a total of $5.89 million.
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At Autorama, teen to show 1971 Plymouth she restored
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Fourteen-year-old Alexandrea Stark isn't old enough to drive, but that hasn't prevented her from becoming a hot-rodder. The L'Anse Creuse High School ninth-grader has restored a 1971 Plymouth Duster, a project she began four years ago with her father after she found the car on eBay. Stark will exhibit the blue semi-fastback with double white stripes at the 60th annual Autorama for the first time.
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Rare barn find Porsche 911S to be restored by Autofarm
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An unrestored right hand drive matching numbers Porsche 911S recently unearthed in Ireland is set to be sympathetically restored by Autofarm. Crucially, the low mileage 1972 specification Signal Yellow car, an early example registered in November 1971, retains many original features together with unique characteristics particular to just the early examples of the 911S for that model year. These include the 'H1' headlamp units, aluminum rear centre panel and aluminum engine lid.
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Auction preview: RM Auctions Amelia Island, Fla., 2012
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The RM Auctions Amelia Island 2012 auction will be held March 10 on the grounds of the Ritz-Carlton in Amelia Island, Fla. RM Auctions assembled more than 100 automobiles for the single-day auction, which will again act as a prelude to this year's Amelia Island Concours d'Elegance.
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Brothers' antique car fetches over $3 million
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Two brothers who spent a lifetime traveling the world and buying one-of-a-kind items have auctioned off their collection, with one of their antique cars fetching more than $3 million. Two days of bidding on 550 lots neared their conclusion with the biggest sale of them all, $3.3 million for the only known surviving 1912 Oldsmobile Limited, more than double its pre-auction estimate. All told, the winning bids were expected to total around $40 million, though organizers were still tallying the sales after the auction ended.
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Audi unveils R18 e-tron Quattro and upgraded R18 Ultra Le Mans prototypes
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After trying out its TFSI and TDI engines at Le Mans — and scoring 10 victories in 13 years of competition — Audi is now launching a diesel-hybrid, all-wheel-drive LMP1 sports car. The R18 e-tron Quattro is powered by the same 510hp, 3.7-liter V-6 TDI powerplant used in last year's victorious car; it adds two electric motors on the front axle, each of which makes around 100hp. Energy recuperated during deceleration is stored in an electric flywheel accumulator and released through the front-axle motors at velocities above 75 mph. Driver Tom Kristensen says the system is "genial," and that the extra acceleration is clearly noticeable. The new car debuts at the six-hour race in
 Spa, Belgium, on May 5.
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Auction report:Leake Oklahoma City 2012
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Oklahoma City kicked off the Leake Auction Company's 40th Anniversary season. They appropriately announce, though, that patriarch Jimmy Leake held his first auction in conjunction with Sotheby's in Muskogee, Okla., in 1962. Further sales followed intermittently until the present string started in 1972.
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Classic, with a twist
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This 1957 Chevrolet Bel Air is not your average restoration project. Tom King is vice president of enrollment management and technical training at Ohio Technical College in Cleveland, where a group of students restored the car and modeled it after a Hot Wheels version of the vehicle. They gave it as a gift to the legendary Vic Edelbrock Jr., whose performance parts company, Edelbrock Corp., provided funding to the technical college to create the only racing program of its kind in the country. The program begins in the first quarter of 2012, and will train students to work for race teams and performance shops.
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Mountbatten's car to rev again
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The Silver Wraith Rolls Royce given by Queen Elizabeth to the last Viceory of India, Lord Mountbatten, and later used by several prime ministers, presidents of India and foreign heads, will run at the upcoming vintage car rally in Mumbai, India. Besides this, the Hudson Phaeton 1933, a seven-seater and eight-cylinder vehicle, the only such surviving car in the world, will also be a part of the annual rally organized by the Vintage and Classic Car Club of India.
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Barrett-Jackson sponsors Nascar's David Ragan
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The Scottsdale-based Barrett-Jackson Auction Co. will be front and center at the Subway Fresh Fit 500 at Phoenix International Raceway. The classic car auction company will sponsor and wrap David Ragan's No. 34 Ford Mustang for Nascar's weekend of races. Phoenix is the second stop for Nascar's 2012 season the recent big race in Daytona Beach, Fla.
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