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RM classic-car auction in Detroit rakes in more than $2.5 million

Wed, 28 Apr 2010

Two of General Motors' finest convertibles from half a century ago were the top sellers at the RM auction last weekend in suburban Detroit.

A 1958 Pontiac Parisienne droptop sold for $104,500, and a 1960 Cadillac Eldorado Biarritz went for $82,500 at the annual classic-car event, April 24-25 in Novi, Mich. Prices include a buyers premium.

The total sales were more than $2.5 million, RM said.

A striking 1991 Ferrari Testarossa sold for $74,800, the third-highest total, and a 1904 Rambler Model L Tonneau went for $71,500. They were followed by a 1995 Dodge Viper ($42,900) and a 1940 Chevrolet Custom Coupe ($41,800).

The 106-year-old Rambler was the star of an offering of 25 cars from the Walter P. Chrysler Musuem, with several models reaching as far back as the brass era of automobiles. A 1904 Overland Runabout sold for $41,250, and a 1918 Nash Quad Truck went for $24,200.

Funds from the sale of the vehicles will support the museum.

Greg Migliore
This 1991 Ferrari Testarossa sold for $74,800.

We stopped by the event during one of its busiest times, midday Saturday, and got an up-close look at many of the cars hitting the block. A 1962 Cadillac Eldorado convertible that sold for $40,700 was one of our favorites, as was a 1970 Chevrolet Camaro SS in orange and white that fetched $26,400.

Still, many cars didn't sell on the block and went to a side area where they were available to anyone who wanted to bid. All told, more than 300 cars were offered at the event.

RM has another auction this weekend in Monaco.

By Greg Migliore