Report and photos by Rick Carey, Auction Editor
RM Auctions recently moved into Southern California with the all No Reserve ‘Classic Muscle & Modern Performance’ auction in San Diego, held June 19, 2010 at the Town and Country Resort in San Diego. Built around 78 cars from the collection of San Diego dealership owner Glen Konkle, the ‘Classic Muscle’ part was pretty straightforward. The ‘Modern Performance’ on the other hand was a little out of the collector car mainstream, consisting of four late model Mercedes and thirteen BMWs.
They turned out to be the stars of the sale. All five of the BMW X5s brought prices above their high estimates as did one of the Benzes. Of the ‘classic muscle’ only one car, a superb ’69 Bloomington Gold Survivor 427/435hp Corvette roadster, could manage the same. 56.9% of the lots hammered sold under their low estimate, and the hammer bids totaled $6,251,000, just 89% of the $7,025,000 catalog low estimates. The sale brought in a total of $6,876,100 including buyer’s premium.
The cars in the core collection were prime examples of restored or preserved original cars with big motors. Between here and Mecum’s Spring Classic Auction in Indianapolis three weeks earlier the market for Pontiac GTOs has been pretty well defined, and it’s pretty good. Two L88-powered Corvettes in one sale is also unprecedented, and both of them brought good money.
Then it was a slog north up I-5 to Costa Mesa for Barrett-Jackson’s inaugural Orange County auction the following weekend: a year’s worth of American Muscle and Southern California lifestyle in just ten days.
Click complete results: Classic Muscle & Modern Performance Results Summary
[Source: Rick Carey]