RM Auctions- Automobiles of Amelia Island preview March 2009

Held in conjunction with the Amelia Island Concours d’Elegance, RM’s 2009 ‘Automobiles of Amelia Island’ auction promises to continue its tradition of of selling high quality automobiles in very high quantities. The entry list boasts well over 100 entries at last glance (it is still increasing by the day) and all seem to be meticulously maintained or completely restored with not a barn find to be seen.

Picking prospective highlights out of such a big sale is always difficult, so let’s go straight to the top of the estimated value pile- and it’s no surprise to see a Ferrari there. In this case, it’s a thoroughly gorgeous 1959 250GT LWB California Spider in Navy Blue with Black leather in concours condition. This is estimated to go for a minimum of $USD 2.4 million (all estimates in USD).

Other significant Ferraris include 2 of the 275 series, a GTB/4 and a GTS. The estimated price differential reflects the market’s perception that the open air 275 isn’t as collectible, its range being $425-500,000 against the 4 cam’s $700-900,000.

Representing the host continent is a 1930 Duesenberg Model J Convertible. Widely used in long distance touring events and in excellent running condition this stunning straight-eight is estimated at $1.1-1.5 million.

Of more attainable American iron, it is interesting to note the pre sale estimates of two open top 1957 Fords- a Thunderbird and a Fairlane. They share a 312ci V8, but the T-bird has traditionally been the collectors choice. However this Fairlane, incidently offered without reserve, is 1 of only 284 ‘Retractable Hardtops’ to leave the factory and its rarity is reflected in its estimated value; $75-100,000 against the T-bird’s $50-70,000.

A pair of original AC Cobras have generated a lot of interest, particularly the 1963 289 that was one of 2 factory entered cars in that year’s Le Mans. It retired after 10 hours, but has been well cared for in ensuing years and now regularly takes up the fight to GTO’s at the Goodwood revival. This history sees its value estimated at $1-1.4 million. The second Cobra is a road-going 427, one of few not subsequently converted to S/C specification. As it stands, it has 550bhp and can be yours for around $700-900,000.

Two other cars are expected to tickle the $1 million barrier. A 1941 Chrysler Newport ‘Dual Cowl Phaeton’, the 1941 Indy 500 Pace Car no less, presented in wonderfully restored condition. RM is looking for $800,000-1.2 million. Winding the clock back another 30 years, the well known 1911 Oldsmobile Autocrat known as ‘Yellow Peril’ (a term coined by its original owner/racer John Albert when it was repainted Yellow in the 1920’s) is estimated at $700,000- 1 million.

For those with ‘only’ half a million USD burning a hole, there is quite a variety on offer. 2 Bugatti Type 57’s- a Stelvio and a Faux Cabriolet- are rated at $350-450,000 and $550-700,000 respectively. An American 30’s equivalent to the Bugattis is also available in the form of a beautifully presented Auburn 851 Boat Tail Speedster. This 280ci straight eight masterpiece was on display for 8 years at Auburn’s headquarters and is estimated to sell for $450-550,000.

Early Corvettes are continuing to appreciate in value, with a first year, 1953 Roadster being valued at $225-250,000, despite having only six cylinders. By contrast, a 1954 Roadster with the sweet revving 265ci V8 is estimated for $80-100,000. Even a rare, racy and restored 1963 Z06 Coupe needs to be on its toes against the ‘53- RM’s example is set for $225-300,000.

Looking at vehicles from back across the pond, there are several E-Type Jaguars on offer. The best of these appears to be an early ‘62 Roadster that is estimated at $120-140,000, similar money to a lovely red XK150S 3.4 Roadster. It will be interesting to see which brings more interest come auction end.

There are also 2 Mercedes that appear worlds apart, but both were built in the 50’s. A 1952 300S Cabriolet, last of the pre-war style Mercs, rotisserie restored and concours ready, should bring $200-275,000 yet its slightly younger sibling, a ‘55 Gullwing that won best of show in Olympia way back in 1982 is expected to achieve $475-550,000.

In the past RM have always delivered on their extravagent stage. The results from Amelia Island will tell us just how much the global economic crisis has slowed the upper echelons of the classic car market.

Look for our full auction review in March
All pictures courtesy of RM auctions

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