Icons of Speed & Style Auction Results – RM Auctions
RM Auctions held the Icons of Speed and Style auction on September 26th, 2009 at the Peterson Automotive Museum in Los Angeles, California. Offered without reserve, this single-owner collection of more than 80 cars reached total sales of $6,905,952.
Top sale went to the 1965 Dodge A100 Pickup Truck “Little Red Wagon” Wheelstander that exceeded its high estimate of $300,000, bringing a very strong $550,000. The “Little Red Wagon” was famously campaigned by Bill “Maverick” Golden, running the quarter-mile with the wheels up in the mid 11-second range and becoming drag racing’s first full-time exhibition act, thrilling crowds for nearly 40 years.
“The auction marked a rare occasion where many of the highlight dragsters and customs were reunited with their original drivers and designers to the delight of the crowd,” said Ian Kelleher, President and Chief Operating Officer, RM Auctions.
“Many cars sold within their pre-auction estimates with some selling for more than anticipated. Given the advance promotion, advertising and marketing we were pleased with the attendance and the results appear to be largely inline and reflective of the current market sensitivity,” he added.
RM Auctions rounds out its 2009 auction calendar next month with the presentation of two important events: Vintage Motor Cars of Hershey, October 8 & 9 in Hershey, PA; and, Automobiles of London, October 28 in London, England.
1965 Dodge A100 Pickup Truck - Sold for $550,000 versus pre-sale estimate of $200,000 - $300,000. Ex-Bill 'Maverick' Golden, the 'Little Red Wagon' and the 'Original Wheelstander' was called America's Most Famous Race Vehicle by Hot Rod Magazine in 1979.1965 Dodge Deora Concept Car - Sold for $324,500 versus unavailable pre-sale estimate. Designed by Harry Bradley and built by Alexander Brothers; won Ridler Award at 1967 Detroit Autorama; adopted by Chrysler Corporation, becoming one of their most popular show cars. 1932 Ford Khougaz Lakes Roadster - Sold for $214,500 versus pre-sale estimate of $250,000 - $350,000. Multiple award-winning Early Lakes Roadster by Jim Khougaz.1970 Chevrolet Chevelle SS 454 LS6 Convertible - Sold for $264,000 versus pre-sale estimate of $500,000 - $700,000. Ray Allen drove to 1970 NHRA Super Stock World Championship; purchased for $1,242,000 at Barrett-Jackson Scottsdale in 2006 at height of muscle car market; sale price is 79% lower than purchase price.1940 Ford Convertible Coupe - Sold for $231,000 versus pre-sale estimate of $200,000 - $300,000. One of the first 'Valley Custom' creations; won at Pebble Beach Concours in 2005 and San Francisco Rod & Custom Show in 2006.1951 Tom Beatty Belly Tank Lakester - Sold for $209,000 versus pre-sale estimate of $200,000 - $300,000. Multiple Bonneville record holder; hit 243.438 in 1962, making it the fastest belly tank lakester ever. 1969 Dodge Charger Daytona - Sold for $214,500 versus pre-sale estimate of $400,000 - $600,000. Ex-Cotton Owens and Buddy Baker; first NASCAR Grand National to post lap over 200 mph; won 1970 Southern 500.1929 Ford Model A Roadster - Sold for $121,000 versus pre-sale estimate of $150,000 - $200,000. The 'Saad, Teague & Bentley' Roadster set B/Fuel Roadster record at Bonneville in 1973 with 266.043 runs. 1932 Ford Five-Window Coupe - Sold for $176,000 versus pre-sale estimate of $200,000 - $250,000. Built by Don Tognotti, 'The Avenger' won the 1961 Grand National Roadster Show Class at Oakland.1968 Lola-Colt T150 - Sold for $82,500 versus pre-sale estimate of $150,000 - $250,000. Ex-Al Unser, Vel's Parnelli Jones 'Johnny Lightning Special' won many times in USAC.1961 Chevrolet Corvette Drag Racing Car - Sold for $247,500 versus pre-sale estimate of $350,000 - $450,000. Ex-'Big John' Mazmanian; only 15,300 original miles; restored to racing condition.1965 Road Agent - Sold for $187,000 versus pre-sale estimate of $250,000 - $350,000. Ed 'Big Daddy' Roth creation.1966 Druid Princess - Sold for $203,500 versus pre-sale estimate of $150,000 - $250,000. Ed 'Big Daddy' Roth creation.1961 The Wagon-Master Riviera Exhibition Dragster - Sold for $209,000 versus pre-sale estimate of $125,000 - $175,000. Four engine dragster built by Tommy Ivo.1969 Ford Mustang 'Mr. Gasket Gasser' - Sold for $132,000 versus pre-sale estimate of $200,000 - $300,000. Class-dominating Gasser, built and campaigned by legendary 'Ohio George' Montgomery; purchased directly from the Montgomery himself; GMP recently produced a limited run of 1:18-scale models of the car.Spirit of '76 Bonneville Streamliner - Sold for $275,000 versus pre-sale estimate of $150,000 - $200,000. Al Teague created and driven to a two-way average of 409.978 mph at Bonneville, which is still current record in FIA Category A1, Group I, Class 11. 1960 Lincoln Continental Mark V Limousine - Sold for $121,000 versus pre-sale estimate of $100,000 - $150,000. Ex-Elvis Presley.1967 Ford C-Cab Fire Truck - Sold for $90,750 versus pre-sale estimate of $75,000 - $125,000. Built by Chuck Miller; won the 1968 Detroit Autorama Ridler Award.1969 Chevrolet Nova 'Jungle Jim' Funny Car - Sold for $46,750 versus pre-sale estimate of $125,000 - $175,000. Won 1969 NHRA Winternationals.1941 Ford Custom Coupe - Sold for $27,500 versus pre-sale estimate of $80,000 - $120,000. Built by Jack Stewart, the Ayala Brothers and George Barris. 1970 Honda 600 Coupe - Sold for $22,000 versus pre-sale estimate of $30,000 - $40,000. Personal car (and rolling advertisement) of Ed 'Big Daddy' Roth.1965 Ford E100 Econoline Van - Sold for $19,800 versus pre-sale estimate of $40,000 - $60,000. Former Movie World utility van, with graphics and modifications by Von Dutch.
RM Auctions held the Icons of Speed and Style auction on September 26th, 2009 at the Peterson Automotive Museum in Los Angeles, California. Offered without reserve, this single-owner collection of more than 80 cars reached total sales of $6,905,952. 
That Chevelle sale is tough to think about. Talk about buying high and selling low!
Those two prices have to represent the absolute extremes of the market.
Very ugly trade for sure, but this does show the how the collector car market differs from traditional markets. As you said, this is an extreme trade for cars, but in contrast to other markets, this 79% loss is not as extreme as their 100% losses. I don’t think that is possible in collector cars.