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For those into muscle cars, June 19th at the Town and Country Resort in San Diego proved to be a high point of the year, as 102 cars; many of them prime Detroit performance machines from the late-1960s and early-1970s went under the gavel. The auction included a number of high profile Corvettes and Pontiacs, including cars from Jim Wanger’s own private collection.
By the time the auction had concluded a total of $6.9 million in sales had been generated, with an astounding 100 percent sell through rate. The top profile car of the weekend was an ultra rare 1969 Corvette Stingray equipped with aluminum head L88 engine. Approximately 115 L88s are believed to have been built for 1969 and the survivors are highly desirable. This one outperformed it’s pre-sale estimate, going for a healthy $401,500. The next strongest seller was a 1970 Chevrolet Chevelle SS454 LS-6 convertible – another highly coveted machine, that went for $231,000. Another 1969 Corvette, this time a 427/435 horsepower convertible, also sold for $231,000. It was interesting to note that out of the top 10 highest selling cars, no fewer than five were Corvettes and two were Mustangs, both Boss 429s, today considered the most desirable of breed, thanks in part to their special NASCAR homologated engines.
The sale also included some European exotica, namely in the shape of high performance BMWs and Mercedes-Benz AMG models, but only one made the top ten – a 2003 BMW Z8 roadster, that went for $143,000. Although the auction was a far cry from the days of $3 million dollar muscle cars that we were witnessing just a few years ago, the high sell through rate in San Diego indicates that the hobby is still as buoyant as ever.
[Source: RM Auctions]