Auction Action 2024: Junkyard Alloy Gullwing Sells for $9.3m

Auction Action 2024: Junkyard Alloy Gullwing Sells for $9.3m

1935 mercedes 500K caracciola special
Auction Action
Something for Everybody

2024 was a year that saw the continuing evolution of the classic car auction process despite a generally weakening market. In addition to the traditional in person actions held by the big 3 auction houses: Gooding & Company ($205m), RM/Sotheby’s ($887m), and the charging Broad Arrow Auctions ($316m including financing income), 2024 buyers could choose from “sealed” auctions, open online bidding platforms, and private sales.

The 24/7 non-stop auction behemoth, Bring a Trailer, eclipsed all of the above with $1.4 Billion in sales from approximately 30,000 sales. This equates to an average sale price of $54k, down from $59.5k in 2023. I’ve put together a selection of sales from this group of auctions below.

Mercedes at a Glance

1967 mercedes 250SE convertible

Gooding Pebble Beach Lot 127: 1967 250SE Cabriolet.  As I wandered Gooding’s tent Saturday morning I spied this Cabriolet which looked very familiar. It was in fact a car I purchased on December 15, 2011 out of San Bernadino, CA with 29,997 miles on the odometer. I felt then, and still do now, that it was one of the finest original classic Mercedes’ that I’d ever seen. A low optioned 250SE with a 4 speed manual gearbox, no AC or power windows, it was unrestored perfection and remains an originality benchmark for any cabriolet of that era. After fully detailing and mechanically preparing the car, I sold it for $95k early in 2012 to perhaps the most discerning Mercedes collector in the US, Dr. Phil Lutfy in AZ. It appeared on the Grundfor website a year or so ago for $250k, its estimate in Monterey, and sold last August for $179,200. Fabulous car.

RM/Sotheby’s Lot 258: 1967 250SE Cabriolet. At the opposite side of the 1967 250SE Cabriolet spectrum was this example from RM/Sotheby’s October ‘THE JUNKYARD: The Rudi Klein Collection sale’. It took $20,160 to own this partially destroyed 1967 250SE Cabriolet. The description noted that it was finished in a ‘charming light blue metallic’. Charming indeed. Collectors had been trying to get to the  Klein cars for decades. The 207 lots were great examples of the notion ‘one mans junk is another man’s gold’. I present some of the gold below.

RM/Sotheby’s Lot  299: 1935 500K. Prewar Supercharged Mercedes-Benz collectors have been after this car for decades. Unlike most of the other Klein offerings, this 1935 500K ‘Caracciola’ Special Coupe by Sindelfingen was a complete, although not running, car having been put away by Klein 44 years ago. The car’s history is fascinating and the car itself is absolutely intoxicating. Specifically constructed for one of the Titans of pre-war Grand Prix racing, Rudi Caracciola, the close coupled coupe was his high speed Continental transportation to the Grand Prix he was contesting aboard Mercedes’ Silver Arrows during the ’30s.  Interestingly, the car was restored in the mid-’60s by Dale Hanson,  father of Tom Hanson whose parts expertise we all relied on for decades as the Classic Center’s senior parts expert. Bidders recognized this car’s stature with a winning bid of $4.130m.

mercedes 280SL lowest mileage

Broad Arrow Lot 280: 1969 280SL. How often does a fully documented sub-10k mile 280SL come to market? Essentially never. Broad Arrow managed to secure a car that some San Francisco enthusiasts have known about for decades. This car and the 1989 560SL below were the last few cars to be released from San Francisco Mercedes-Benz dealer, Jules Barsotti’s, collection. Hidden in the basement of his Van Ness avenue dealership since 1973, this factory two-tone – 576 red/040 black – 1969 280SL has but 7,625 on the odometer. I had a chance to carefully inspect the car while it was being prepared for the sale by Pagoda experts, Burlingame Motors, next to my gallery. The DMV receipt for the change of ownership in 1973 was still in the glovebox. The car serves as a benchmark example of what a correct 280SL should look like. The undercarriage and engine bay finishes are instructional to anyone trying to restore a 280SL. The sale price of $235k struck me as comparatively inexpensive for a non-repeatable SL. I have a feeling there are a few individuals who are regretting paying similar money for shiny but incorrectly ‘restored’ 280SLs. Very well bought.

1989 560SL 122 miles

Broad Arrow Lot 161: 1989 560SL. Also a car liberated from the Barsotti collection, this 568 signal red/creme beige 560SL had but 122 miles on the clock. I was also able to inspect this car in San Francisco prior to the auction and it was extraordinary in every respect. The monroney label attached to the passenger’s window by the MB preparation center in South San Francisco had never been removed. While it really makes no difference in such a sale, I’ve always felt creme beige leather to be more attractive than the much more common palomino. However, at this mileage, any color/trim combination is acceptable. The winning bid of $260,400 far exceeded Broad Arrow’s expectations. The mileage begs the question of what the new owner, who also bought the 7,625 mile 280SL above, will do with this as-new time capsule. Very well sold!

1972 mercedes 280SE 4.5

Bring a Trailer 2024: I’ve picked a gem from the 30,000+ cars BaT sold in 2024. While it’s nothing particularly exotic, it is quite likely the best example in existence. This end-of-series 1973 280SE 4.5 presents itself in museum quality and shows just 14k miles. I have a 32k mile 1972 4.5 in 542 dark red that I’m proud of but this 4.5, presented to perfection by the well known Dean Laumbach, is a cut above. I can’t think of a more appealing color/trim combination than 860 green complemented by 144 parchment MB tex. Add in the ivory steering wheel, the rare limited slip differential, whitewalls, the unheard of 14k original miles, and you have a recipe for an enormous price. How about $100,108! Well sold and well bought.

Broad Arrow Lot #107: 1970 6.3. After chasing 6.3s over the years, I stopped paying attention to them a decade ago due to declining demand and the lack of proper cars. I should add that even if you could source a proper example there was usually some mechanical pain ahead. They simply are never truly finished, somewhat like a vintage boat experience. I have to say that if more cars of this caliber existed, I’d be back in the buying mode. While I was not able to inspect this 1970, what I see points to a lovely car. All looks quite crisp with decent bumper alignment, correct ride height, excellent paint depth and gloss, and attractive bright work. Factor in the highly desirable 291 dark olive/bamboo leather color/trim combination and the fact it’s a sunroof car and you have the right scenario for a good sale. The $78,400 price makes sense and the new buyer can still rationalize spending the final $10k to really dial it in. Well bought and Sold.

RM/Sotheby’s Lot #290: 1956 300SL Alloy Gullwing. This is the holy grail within the 300SL Gullwing world. It’s #26 of the 29 all aluminum Gullwings constructed and the only alloy car originally finished in 040 black, although repainted silver prior to Klein’s ownership. As per its factory data card, the car still carries its original NSL engine, correct Rudge wheels, and sports suspension. The car is deliciously original down to the esoterica of gearbox, rear axle, steering box, and front spindles. And it gets even better. It’s noted that the car was ordered new by Luigi Chinetti, the 1949 Le Mans winner, Ferrari’s longtime US distributor, and creator of NART – North America Racing Team. It’s said that Chinetti wished to understand how the Gullwing performed relative to Ferrari’s Grand Touring offerings in the mid-’50s. Interestingly, Chinetti was a household name for me as a very young man. My father was often on the phone with him in the early ’60s sorting out the delivery of ex-factory competition cars or ordering new inventory for the Spencer Buick-Ferrari franchise. Ever the junk salesman, Klein sold off the Gullwing’s bumpers, shift knob, tools, and spare wheel/tire. Unfathomable for such a significant car today, but all replaceable. There was no doubt that there was going to be a fight for this alloy Gullwing. That fight was over at $9.355m, substantially above RM/Sotheby’s’  2022 Arizona sale of  alloy Gullwing #13 for $6.825. We can consider it well bought simply due to the fact it was finally ABLE to be bought after 49 years. I look forward to seeing it at Pebble Beach Concours in 2026 or 2026 after Paul Russell & Company is finished with it…

There you have it, a taste of some 2024 auction action. 2025 is shaping to be exciting as well.
roy spencer/editor mercedesheritage.com

>Was this article interesting? Subscribe to our e-newsletter.

Leave a Reply