Image: Profiles In History

If you’re a fan of the Back to the Future movies and have a sizable bank account, here’s an opportunity you won’t want to pass up. Profiles In History has one of three surviving DeLoreans built for the Back to the Future movies, and it will hit the block at one of the company’s auctions later this year.

Up for grabs is a car actually used in the filming of the third BTTF movie, complete with white wall tires, chrome hubcaps and assorted, tacked on bits from the 1950s (it IS a time machine, after all). Sadly, it’s not a functional time machine, so you can’t go back to 1984 and buy up all the available shares in Microsoft and Apple.

While seven DeLoreans were built for the three BTTF movies, only three are known to survive today. That’s the nice way of saying that this guaranteed-authentic example won’t be inexpensive to buy, but you probably won’t lose money on it either.

Whoever buys the car, which was previously on display at the San Diego Air & Space Museum, will also help support the Michael J. Fox Foundation, which is the world’s largest private funding source for research into Parkinson’s disease.

The final Mitsubishi Eclipse. Image: Mecum Auctions

The Mitsubishi Eclipse has been around for 22 years and four generations, and in the early part of its life, the car defined “affordable performance.” The first and second generation cars could be had with either front-wheel-drive or all-wheel-drive, and the AWD cars (and their badge engineered cousins, the Eagle Talons) dominated both club and pro racing for years.

Sadly, when the third generation and fourth generation cars came out (in 2000 and 2006, respectively), it was clear that Elvis had left the building. In fact, the 2000 and later cars are probably best equated to the fat Elvis, who spent his final years in a pill and food induced haze, before dying ingloriously on the toilet. Like Elvis, the Eclipse once had so much promise, but also like Elvis the end came too soon.

We won’t mourn the passing of the Eclipse, since it died for us long ago. Still, we remember the car for what it once was (and in the hands of the die-hard faithful, what it still is). If the Mitsubishi Eclipse is your thing, you’ll want to pay close attention: Mecum is auctioning off the last Eclipse ever built to raise money for the Japanese Red Cross and help the victims of the recent earthquake and tsunami. The no-reserve auction will take place on Saturday, September 17th, during Mecum’s St. Charles, IL event.

The car is one-of-a-kind, featuring both the 265-horsepower V-6 and the commemorative SE package. It’s finished in Kalapana Black, with 18-inch Dark Argent wheels, a sunroof, leather seats, a 9-speaker Rockford Fosgate audio system, Bluetooth phone integration, a rearview camera and HID lighting. It’s also the last Eclipse to ever roll off the assembly line, so the value will only go up (in theory at least).

Interested? Hit the Mecum Auction site for details on how to become a registered bidder.

Source: Mecum Auctions

Jenson Button's '78 Ferrari 512BB. Image: Bonhams

Jenson Button was the 2009 F1 World Driving Champion. Outside of the United States, where F1 has very little appeal or presence, Button is a bona fide celebrity on par with Miami Heat star LaBron James or Jets quarterback Mark Sanchez. It stands to reason, then, that a car from Button’s garage will be worth more than a car from my own garage (although I’d like to point out that I’m something of a C list celebrity in Montgomery, AL). Not that Jenson and I have the same rides parked in our garage, especially since his collection previously included a Bugatti Veyron. It also includes a 1978 Ferrari 512BB, at least until the car gets auctioned by Bonhams on April 11. Jenson only bought the car last April, for the equivalent of about $133,000, but he’s selling the Ferrari because he’s simply too busy to drive it.

Since Button’s purchase of the 512, the odometer has spun up just 55 miles, increasing from 49,100 to 49,155. That’s not exactly low mileage for a Ferrari, but the good news is that this car comes with extensive service documentation. It was a driver, but it was a very carefully maintained driver, as the $154,000 worth of service receipts would indicate. Bonhams expects Button’s celebrity to add value to the car, and their pre-auction sales estimate ranges from $145,000 to $177,000. Put another way, the fact that the car is owned by a former world champion will add between $12,000 and $44,000 to the projected value if the car sells withing the range of the pre-auction estimate. In terms of value per mile, it means that Button’s hand sweat and ass-cheek imprints are worth a minimum of $218.18 per mile. Damn.

Source: NY Times Wheels

Ths 1951 Ferrari 212 fetched $1.87 million. Image: © 2011 Courtesy of Gooding &
Company

I hadn’t originally planned on covering this year’s Gooding & Company auction at Amelia Island, but I found myself with some down time and headed over to the show to preview the cars. Unlike last year’s event, which was dominated by a few best-in-class cars expected to fetch jaw-dropping prices (which they did), this year’s Gooding & Company event was more subdued. There were more cars, but most weren’t the show-stoppers I tend to associate with Gooding. In fact, only the Lamborghini Muira SV prototype, a 1990 Ferrari F40 and a 1961 Alfa Romeo Giulietta Sprint Speciale caused me to fall to my knees exclaiming, “I’m not worthy”. Below are my thoughts on a few cars and the prices they commanded.

1971 Lamborghini Muira SV Prototype

Photo by Scott Nidermaier © 2011 Courtesy of Gooding & Company

Sold, at $1,705,000, this car was well bought. The prototype used to design the SV (SuperVeloce) Muiras, the car was stunning, fast and historically significant. The price paid represents this, but I seriously doubt the new owner will lose money on the car in the long run.

1990 Ferrari F40

Image: © 2011 Courtesy of Gooding & Company

Sold, at $522,500. I’m a huge fan of the F40, so it’s hard for me to be objective about these cars. Pre-auction estimates had the car selling for as much as $50k above the actual hammer price, and given the cars documented service history and low mileage (under 6,000), I’d call well bought. I’ve seen F40s trade hands for a lot less money, but none were as well preserved and thoroughly documented as this car, and that’s worth money to a potential buyer.

1961 Alfa Romeo Giulietta Sprint Speciale

Image: © 2011 Courtesy of Gooding & Company

Sold, at $154,000. This car was as close to flawless as I’ve ever seen, and a selling price nearly $25,000 over the highest pre-auction estimate reflects this. The car is a multiple award winner, and came complete with extensive documentation. For any hard core Alfista with a big enough bank account, this was the car to buy.

1991 Lamborghini Diablo

Image: © 2011 Courtesy of Gooding & Company

Unsold, pre-auction estimates ranged from $125,000 to $175,000. Used Lamborghini Diablos typically don’t sell for much above $100,000, so the pre-auction estimate on this car was more than a little bit ambitious. Worse, the car was highly customized by the current owner, who claims to have sunk as much as $250,000 into the development of this race-car-themed Diablo. We’ve all learned that mods don’t increase the value of a car, but this owner’s lesson was more expensive than most.

1969 Buick Riviera

Image: © 2011 Courtesy of Gooding & Company

Sold at $25,300; pre-auction estimate was for $40,000 to $50,000. At first glance, this car looked great on paper. It wears period correct black California plates, and has only clocked around 13,000 miles since leaving the factory. Even the tires are original (although I’m not sure that 42 year old tires are a selling point), and the car has clearly spent its life inside of a garage. It looks like the proverbial “little old lady drove it to church on Sundays” special, which we all know is too good to be true. Up close, the driver’s side door has a bad case of orange peel, which doesn’t match the rest of the paint. I didn’t go over the rest of the car, but experience tells me that bad paint on one panel usually means bad paint (or worse, bad Bondo) on other panels. At $40k, this car as a “pass”; at $25k, it’s a fun weekend car that the new owner can even afford to have repaired correctly. I say well bought.

1991 Ferrari 348

Image: © 2011 Courtesy of Gooding & Company

Sold at $79,200; pre-auction estimates ranged from $90,000 to $120,000. In the Ferrari hierarchy, Mondials are typically the most “affordable”, followed by 308s, 328s and then 348s. Sure, I’m generalizing, but that makes this the fourth most affordable Ferrari to purchase, since there’s no such thing as an inexpensive Ferrari to maintain. Used 1991 Ferrari 348s typically sell for $50,000 to $70,000, so thinking that this cars exceptionally low mileage (just 300 on the clock) could double that price was absurd. At $79,200, the new owner paid a fair price for a low mileage car with a known service history.

1986 Ford RS200 Evolution. Image: RM Auctions

A few weeks back I told you about a 1986 Ford RS200 Evolution that was about to go up for sale at the RM Auctions event tied to the Amelia Island Concours d’Elegance. Pre-auction estimates for the unmolested (and remarkably low mileage) car were $80,000 to $120,000, and the car was being sold with no reserve (in other words, the seller hadn’t set a minimum price, and the car would go for whatever price the gavel fell on). Given the condition of the car, and the fact that it was an Evolution version, I doubted it would sell for a penny less than $150,000, and I was correct; when the auction ended, the car sold for $159,500, which actually translates to a hammer price of $143,550 plus a buyer’s premium of $15,950. I’m not sure the new buyer can flip the car for a profit in less than five years, but this much is certain: Ford isn’t building any more RS200 Evos, so I’d call that a good investment. More results below.

1952 Ferrari 340 Mexico Coupe. Image: RM Auctions

The star of the RM Auction was this 1952 Ferrari 340 Mexico Coupe, which sold for an impressive $4,290,000. That blew the pre-auction estimate of $2.75 million to $3.5 million out of the water, but the car came from the private collection of former GM designer and Ferrari Club of America co-founder Larry Nicklin. It was one of only three built, and it had an extensive racing history; that was enough to spark a bidding war between potential phone buyers and those in attendance.

2002 Cadillac Northstar LMP. Image: RM Auctions

Another auction highlight (for me, at least) was the 2002 Cadillac Northstar LeMans Prototype that sold for $209,000. Pre-auction estimates had the car at $200,000 to $300,000, which makes this sale a relative bargain for the new owner. This car is the only Northstar LMP in private hands, it has a genuine racing pedigree and was the second to last LMP built; in other words, it’s money in the bank for the new owner (as long as they don’t stack it in a vintage race).

The going rate for RS200s appears to be mid-$90s, according to Chubb.

I have absolutely no budget to buy a classic car right now, but that doesn’t stop me from regularly watching Mecum and Barrett Jackson auctions on TV. I like to be prepared, just in case I hit the mega-million lottery drawing, so I really do keep tabs on the hammer prices for Mach 1 Mustangs and first generation Z/28 Camaros. Chubb Insurance has just launched a new app for the iPhone and iPad (and soon for Android) that makes my life a lot easier. Called Classic Car Guide, the app gives you information and auction history prices on a staggering variety of classic and collector cars. The best part? It’s absolutely free.

Here’s how it works: from the home screen, you can search by either a car’s VIN or by a year range, make and model. That calls up an information screen, which displays the years the vehicle was manufactured as well as pricing estimates for Excellent, Good or Fair Condition vehicles. If you want additional detail, you can select “Recent Sales” to see auction prices dating back for years. If you’re in the market, you can select “For Sale” and enter a range you’d be willing to drive to find one; the app then returns a list of vehicles for sale.

Let’s say I were in the market for a 1970 Mach 1 Mustang. The app doesn’t go down as far as trim level, so I’d actually get results for all variants of 1970 Mustangs. Per the app, the price range I can expect to pay is from $30,000 for a “Fair” condition car, up to $43,000 for one in “Excellent” condition. Here’s where the “Recent Sales” data comes in handy: I can look at images to find a Mach 1, like the Grabber Blue example with just 58,781 miles that sold for $70,490 in December of 2009. I can use the “For Sale” feature to find a car to buy, like the Grabber Blue four-speed conversion for sale at a dealer for $16,000. Since the app is from Chubb Insurance, you can also use it to get an instant quote on insuring your new pride & joy.

Since this is a brand new app, you can expect the occasional bug or crash. Relaunching the app seems to solve any problems, and it’s a great time suck for sitting at the airport. If it had just a little more polish on it, I’d even pay a few bucks for it, so that makes it a great deal at “free”. I’d suggest you grab it today before they decide to charge you for it.

Image: RM Auctions

Sometimes I really, really hate the internet. It takes a lot of surfing to find stories that are worth posting, since nobody wants to read a site that just re-hashes manufacturer’s press releases. Sometimes you stumble across something that you shouldn’t, simply because it will create an unrelenting desire to sell everything you own and buy it. Take, for example, this 1986 Ford RS200 Evo, found on Bring A Trailer, that will be sold at the RM Auctions Amelia Island event. To say I want this car is perhaps the biggest understatement in written history; I, in fact yearn for this car in a most illogical and unhealthy manner.

Image: RM Auctions

First, there’s the issue of price. RM estimates that it will sell between $80,000 and $120,000, which almost puts it within my reach if I sold everything I owned, cashed out all my retirement accounts and spent the next three weeks robbing liquor stores and cooking meth. I seriously doubt the car will go for that little, but if it does I will forever kick myself in the ass for not bidding on it. At the peak of the market, RS200 Evos were selling in roughly the $250,000 range, which made them utterly unattainable. This low mileage, unmolested example seems to be just marginally unattainable, and if it sells for less than $150,000 I can’t imagine the buyer losing money on the car.

Image: RM Auctions

Next, there’s the issue of performance. RS200 Evos were about the last of the Group B rally cars, and made about 600 horsepower in race trim. They were, of course, all wheel drive, but that didn’t matter much since they had a wheelbase similar to a go-kart. Make a tiny mistake behind the wheel, and the RS200 Evo will hurt you, badly. Make a big mistake behind the wheel, and it will kill you, in a most spectacular and violent fashion. Since this car is in street trim, it “only” makes about 420 horsepower from it’s turbocharged 2.1 liter four; given that the car only weighs 2,315 pounds, that’s plenty good enough. Zero to sixty should come up in under 3.5 seconds, and you’ll hit the relatively low top speed of 118 miles per hour in just over 9 seconds.

Image: RM Auctions

Why do I have such an affinity for the car? It’s hard to say, but I did get to see one set the lap record at the track where I used to teach. With a competent driver behind the wheel, the RS200 Evo will embarrass a surprising number of cars, including more than a few open wheel race cars. If you said, “this is the only fast car you’ll ever own”, I’d be OK with that, since I can’t imagine ever getting tired of driving it. I may go to the RM Auction, strictly in a journalistic capacity, but I’ll be watching the bidding on this car like a hawk. My guess is that it’ll bring in more than $150,000, and that’s simply too far north of my budget to even contemplate.

Source: RM Auctions, via Bring A Trailer

Cadillac LMP-02-002. Image: RM Auctions

If you’re a fan of both endurance racing and of GM, and if you’ve got a sizable balance in your bank account just waiting to be spent, you may want to head on down to Amelia Island, FL, for the upcoming RM Auctions event. Held in conjunction with the Amelia Island Concours d’Elegance, the annual RM Auction specializes in selling the best of the best. Take last year, for example, when a 1961 Porsche RS61 Spyder was snapped up by none other than Sir Stirling Moss for a cool $1.705 million.

This year, one of the featured cars is a 2002 Cadillac LMP-02-002, as campaigned by J.J. Lehto and Max Angelelli during the 2002 American Le Mans Series. The car took 9th place in the 24 Hours of Le Mans race, and scored as high as second place in the ALMS race in Miami. In 2009, the car was sold by the GM Museum to a private customer, who now has it up for grabs at Amelia Island. RM doesn’t speculate on price, but says the car will sell for “fraction of the cost of an Audi R8 from the same era.” This makes sense, since the Cadillac wasn’t always competitive against its rival from Ingolstadt.

Cadillac LMP-02-002 comes ready to run, including a 600 horsepower, twin-turbo V8 engine and six speed sequential gearbox. It’s eligible for vintage competition, but it would also make a great addition to anyone’s race car collection. As far as I know, this is the only Cadillac LMP in private hands, and you can’t get more exclusivity than that.

Source: Autoevolution

This DragonSnake Cobra brought $875k. Image: Mecum

Despite a struggling U.S. economy and near record unemployment levels, Mecum’s recent collector car auction in Kissimmee, FL proved two things: there’s still a strong market for collector cars, and those with money don’t mind spending it. Consider the top five automobile purchases: a 1963 Shelby DragonSnake Cobra sold for $875k, a 1966 big block Cobra drew $550k, a 1957 Ford DF Phase 1 got $250k, a 1969 Pontiac GTO Judge sold at $225k and a 1940 Packard Darrin Convertible drew a hammer price of $205k. Even more pedestrian cars drew good prices, like the 1990 Chevy K5 Blazer that sold at $12,750, the 1989 Ford Mustang GT that sold at $11,500 or the 1975 Cosworth Vega that sold at $13,000. If you were looking for a weekend toy, there were bargains to be had as well, like the Chevelle SS replica (complete with 454 motor) that hammered at $11,500.

This 1966 427 Cobra brought $550k. Image: Mecum

There were a surprising number of vehicles that didn’t meet their reserve prices, which I believe we’ll continue to see at auctions for some time to come. The collector car (and boat) market has always been cyclical, and those who bought at the peak of the market (remember 2006?) have yet to accept that those prices won’t come back for a long, long time. As with every other auction I’ve ever seen, quality cars sell, regardless of the price. Interesting cars sell, but only if they’re priced with a realistic reserve.

I’m not sure I’m ready to predict a healthy economy in the next six to twelve months, but this much is clear: car enthusiasts are once again opening their wallets, and that’s exactly what it’s going to take to speed up the recovery. Call me hopeful that the worst is behind us.

Source: Mecum Auctions

Chassis 93, the winningest Cobra in history. Image: Mecum Auctions

If you spent much time watching the Mecum Auction from Kissimmee, FL, this weekend, one thing was readily apparent: historically significant cars still sell, even in a down economy. Case in point was Shelby Cobra number CSX2093, which was the 93rd Cobra built and one of just eight with the DragonSnake competition package. While most Cobras were built for road racing, DragonSnake Cobras were built for drag racing, as the name implies. None was more successful than chassis number 93, which was originally owned by Jim Costilow and raced by Bruce Larson. During its competition years, this particular DragonSnake racked up seven NHRA National event wins, and took the 1966 NHRA World Championship. The new owner recognized the significance of the car, and coughed up $875,000 to change the title to his name.

The last of the handbuilt Riva Aquaramas. Image: Mecum Auctions

That’s a significant amount of money, but it’s not the high seller at this year’s Mecum Auction. That award goes to a 1996 Riva Aquarama boat, the last Riva hand-built wooden boat ever sold to the public. Originally purchased in 1996 by the family that founded Sony Corporation, the Riva has led a pampered life since delivery. It’s racked up less than 20 operating hours and was used just once, for a lunchtime run across Italy’s Lake Garda. One of six “End of the Era” commemorative editions, hull number 774 was considered to be the most desirable example on the planet, and the hammer price indicated this. How much does does it cost to make a serious impression at your local yacht club? In this case, it cost the buyer $975,000, which will be close to $1.1 million with the buyer’s premium added in.

Source: Mecum Auctions