IML: Interesting "Intel" from CAR COLLECTOR Mag re: Auction Valuations

[RCAJazz1@xxxxxxx]

In the April issue, Rick Carey, longtime editor of Auction Forum, notes among other significant cars, a restored 1960 Pontiac Bonneville Convertible in Condition 2, hammer sold for $87,000 (after commission) at a recent RM Auction. RM is a leading auctioneer for classic, milestone and muscle cars. The Pontiac exceeded RM's own High Estimate of $85,000. 

Carey cites the car's previous sale at auction in 2005 for $52,000, and again in 2006 for $57,200 - quite a remarkable jump in itself. He further states: "The jump this year is indicative of the move that's taking place in fullsize GM, Ford and MoPar convertibles. This transition is the crest of a wave that's building. Next year look for high performance fullsize convertibles like this to be in the heart of the auctions' sale order and getting four-page descriptions."

In the July issue Auction column titled "Only Good News" Carey describes overall car auctions sales heading into summer as "being on a roll. Sales percentages are healthy. In fact, the prices in some of the transactions from RM's Ponder collection are breathtaking....In the aggregate, the market is   getting bigger and bigger."

While citing some weakness in the muscle car segment, especially Mopars and Hemis, the case can be made, it seems, for a long-overdue RUN of the large luxury 50s/60s Imperials, Cads and Lincolns, while these cars are still very affordable. While they'll likely never approach the screaming ascents (and descents) of the Ferraris, Mustangs, muscle cars and more recently vintage Corvettes, one can find few other segments poised to make their "run."

While acknowledging that auctions differ from consignment and individual fixed-price sales, if Pontiac and similar examples are representative of a trend, this may be The Moment. For those selling our Imperials, let's hope it is.

Rex Allen
Novato, CA



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