The announcement had already triggered a lot of euphoria. On October 26, 2024, RM/Sotheby's finally brought 67 cars, three motorcycles and many rare engines/spare parts under the hammer in a live auction in the Los Angeles area.
The more than 130 spare parts lots with many Porsche engines as well as parts for Lamborghini, Ferrari and Mercedes-Benz fetched a total of almost USD 770,000, while USD 216,000 was paid for an almost complete engine for a Lamborghini Miura P400 S in parts, which would have been costly to rebuild.
But things only really got going when the cars were called after about 90 minutes. Internet bidders, telephone callers and the people in the room all bid up to amounts that were usually well above expectations. On average, 260% of the median estimate was bid for the 70 vehicles, which together had been estimated at around USD 20.1 million in advance.
In the end, not USD 299,328 was paid per vehicle as expected, but 430,564! In total, all vehicles were sold for USD 28,847,800. As all lots were offered without a reserve price, the sales rate was of course 100%.
It should also be mentioned that more than half of the vehicles were sold with the note "Offered as parts only", which also said something about the condition of the cars and the (barely) available documentation.
Especially Porsche and Mercedes-Benz
German-born Rudi Klein had collected a large number of cars (and spare parts) in California from the 1960s onwards, some of which were in a desolate condition. While many of the vehicles were actual scrap cars, over time genuine collector's vehicles in drivable condition were also added. Almost everything remained untouched for decades until after his death in 2001 and therefore presents itself today in often poor but original condition.
Klein was particularly fond of German car brands, so 24 of the cars up for auction were from Porsche, 14 from Mercedes-Benz, four from BMW and three each from Horch and Maybach. There was also an NSU, two Audi and one or two Volkswagens, depending on how you count.
But he also kept foreign exotics. Two Aston Martin, a Facel Vega and a whole series of Italian classics from Ferrari, Lamborghini, Maserati and Iso at the auction proved that Klein also liked non-German sports cars.
As many of these 67 cars have never appeared on the market for many decades and in some cases people hardly knew they still existed, interest was naturally particularly high, despite the rather deplorable condition of some of them.
The Alu-300-SL-Gullwing as a high-flyer
The most expensive car in the auction was a 1956 Mercedes-Benz 300 SL gullwing with an aluminum body. Originally ordered by Luigi Chinetti, Klein was able to buy the coupé directly from Chinetti in 1976. However, apparently not much more was known about the car.
The car had not been driven or shown in public for almost 50 years, but it had also never been restored, which perhaps explains the high estimated value of USD 4.5 to 6 million.
But this did not impress anyone. Bidding started at two million and rose to USD 8.5 million when the hammer fell.
The new owner thus paid USD 9.355 million (EUR 8.7 million, CHF 8.14 million) for a car that certainly wouldn't be able to drive without major work.
The Iso Grifo A3/L Spider
In 1964, Bertone presented a spider version of the Iso Grifo A3/L Coupé, which had been unveiled in Turin a year earlier, in Geneva. The front design had already changed compared to the first prototype, but series production was still a long way off at the time.
The open prototype was shown at other motor shows, but in the end only the coupé went into series production; the cabriolet remained a one-off.
For decades, this rarity was hardly ever seen again; Klein actually bought the Spider in 1980 from Greg Garrison, who had been driving it since 1973.
At that time, the Spider had already been through a lot, the front had been modified after a crash. Rudi Klein drove the one-off for a while and then put it away, like many of his other collector's items.
At the auction, the car presented itself largely complete, but in a condition beyond 3. USD 700,000 to one million was expected. The car was called as a "perfect concours candidate" and the bidding started at USD 400,000. The auctioneer began to count the car down several times, but the bids finally went up in 50,000 increments to USD 1.7 million.
The restoration object was finally sold for USD 1.875 million (EUR 1.744 million, CHF 1.631 million), more than double the estimate.
Expensive Ro80 from Pininfarina
While the Gullwing and the Grifo Spider had already performed significantly better than expected, the NSU Ro80, which Pininfarina produced in 1971 as a four-door saloon with a very special sliding roof design and exhibited in Turin and in Brussels in 1972, was even more brilliant.
The car had not been seen since 1995 and was now expected to fetch between USD 60,000 and 80,000. The bid was then USD 415,000, bringing the sale price to USD 461,500 (EUR 429,195, CHF 401,505). Had RM/Sotheby's really underestimated this car to such an extent?
Up to 25 times
When comparing the highest bids with the average estimate, however, there were even greater swings than previously mentioned. These were typically observed with cheaper vehicles or partial carriers.
For a Porsche 356 B 1600 S with Drauz roadster bodywork from 1960, 70,000 was paid instead of the expected USD 2000 to 3000!
A badly battered Porsche 356 C Carrera 2 2000 GS Coupé from 1963 was worth USD 64,400 to the buyer, the estimate was USD 2500 to 5000.
50 vehicles reached their estimated value or were knocked down for more, even cars that had already been estimated to be expensive, such as a Porsche 356 B 1600 Roadster by D'Ieteren from 1962.
USD 350,000 to 550,000 had been expected, but USD 1.05 million was offered for the Porsche, which has seen little use and is in original condition, resulting in a sale price of USD 1.16 million (EUR 1.079 million, CHF 1.01 million) after an almost ten-minute bidding war.
Tight prices for the three and a half Miuras
Rudi Klein had obviously taken a liking to the Miura. Two P400s from 1967 and 1968, a P400 S from 1969 and a P400 S from 1968, of which only the front end remains, but which was sold together with the VW Type 2 Transporter from 1968 on which it rested, went under the hammer.
While the bus and its snout sold for USD 56,000, a buyer paid USD 1.325 million (EUR 1.232 million, CHF 1.153 million) for the badly damaged but largely complete 1968 P400.
And you couldn't get a Miura restoration for less than USD 610,000.
Caracciola's 500K disappointed (a little)
Rudi Caracciola also drove fast cars in his private life, one of which was the Mercedes-Benz 500 K Special Coupé from 1935 with chassis number 113718. The car came to the USA after the war, was restored in the 1960s and was shown at several concours, including Pebble Beach, where it came second in its class.
Rudi Klein was able to take over the car in 1979, but kept it hidden for most of the decades.
Surprisingly, this 500 K was one of the few expensive cars that did not reach its estimated value. Instead of the expected USD 4 to 6 million, USD 4.13 million (EUR 3.84 million, CHF 3.59 million) sufficed for the acquisition.
A Horch 855 Special Roadster by Gläser from 1939, which was recently restored in Germany, fared similarly, selling for USD 3.305 million (EUR 3.074 million, CHF 2.875 million).
Ferrari with varying degrees of demand
A total of five Ferraris from the second half of the 1960s and the early 1970s came under the hammer at the RM auction. In some cases, only fragments of the cars were still available and some even lacked chassis numbers. Whether these cars in particular could ever be restored to their former glory seemed questionable to say the least.
While three of the cars fetched less than expected, the 365 GTC/4 from 1972 managed to sell for USD 106,400 (EUR 98,952, CHF 92,568), well above the estimate.
The 1968 Maserati Mistral 4.0 Coupé was similarly successful, selling for USD 64,400 despite significant accident damage.
As an observer, you certainly have to wonder how the buyers will justify the sometimes enormous prices they paid. Certainly, the victory of the patinated Bugatti 59 at Pebble Beach triggered a certain patina euphoria, but some of the cars sold at RM were really more like scrap than an original vehicle with patina. Exceptions proved the rule, of course, and it will be interesting to see how many of the 67 cars make it back onto the road despite the adverse circumstances.
Offered and Sold Vehicles
The following table lists all offered and sold vehicles with estimated prices, highest bids, and sale prices. The price conversion was made at the exchange rate valid on the auction day. All information is provided without guarantee.
| Lot | Car | Year | USD Est from | USD Est to | USD HP | USD SP | CHF SP | EUR SP | % Est | S |
|---|---|---|---|---|---|---|---|---|---|---|
| 239 | Porsche 911 Targa (Jg. Ca.) | 1976 | 3000 | 6000 | 15'000 | 16'800 | 14'616 | 15'624 | +273.33%
|
V |
| 240 | Porsche 356 B Coupé (Jg. Ca.) | 1961 | 3000 | 6000 | 1500 | 1680 | 1461 | 1562 | -62.67%
|
V |
| 241 | Porsche 356 B Coupé (Jg. Ca.) | 1960 | 3000 | 6000 | 2250 | 2520 | 2192 | 2343 | -44%
|
V |
| 242 | Mercedes-Benz 280 SE Coupé (Jg. Ca.) | 1966 | 3000 | 5000 | 8000 | 8960 | 7795 | 8332 | +124%
|
V |
| 243 | Ferrari 330 GTC by Pininfarina | 1967 | 50'000 | 75'000 | 45'000 | 50'400 | 43'848 | 46'872 | -19.36%
|
V |
| 244 | Ferrari 330 GTC by Pininfarina | 1966 | 30'000 | 40'000 | 35'000 | 39'200 | 34'104 | 36'456 | +12%
|
V |
| 245 | Porsche 911 S 'Soft-Window' Targa | 1967 | 3000 | 6000 | 13'000 | 14'560 | 12'667 | 13'540 | +223.56%
|
V |
All information is provided without guarantee.
Legend: Column S = Status (V = Sold, N = Not sold, Z = Withdrawn, U = Under reserve)
Est = Estimate, HP = Hammer Price, SP = Sale Price
