RM’s Rudi Klein ‘Junkyard’ cars top $28m
One of the most eagerly anticipated sales of the year finished a few hours ago. Interesting engines, spare parts and (mostly) complete cars amassed since 1967 by secretive hoarder Rudi Klein were offered by RM Sotheby’s at a No Reserve event in Los Angeles. The live auction comprised 208 lots.
With premium, the Rudi Klein live sale grossed $29.6m, with motor car entries accounting for $28.8m.
To no one’s surprise, top selling car was the 1956 Mercedes-Benz 300 SL Alloy ‘Gullwing’ (est. $4.5m to $6m, above) which was bought for $9,355,000 all-in after spirited bidding, mostly in $500k increments. Factor in an expensive restoration and this brings the real price to well in excess of $10m.
The stand-out result of the event was $1,160,000 paid for a 1962 Porsche 356 B 1600 'Twin-Grille' Roadster by D'Ieteren. And the same bidder bought the $885,000 1959 Porsche 356 A Carrera 1500 GS/GT Coupé. The unusual, very of-the-time one-off 1971 NSU ro80 2 Porte + 2 by Pininfarina with only 1km recorded (est. $60k to $80k) achieved $461,500.
Most disappointing outcome was probably the 1935 Mercedes-Benz 500 K Coupé that was expected to fly but failed to meet its lower estimate of $4m – possibly a sign of the times and interest moving away from pre-War cars at really big numbers. It was probably well bought for $4,130,000 gross.
The event can be compared to the Canadians’ own three-day blockbuster in Milan back in November 2016 when they cleared cars, motorcycles, bicycles and spares seized by the Italian authorities from businessman Luigi Compiano, and French firm Artcurial’s auction of cars belonging to the late trucking magnate Roger Baillon in Paris the year before.
The Rudi Klein cars had more in common with the Baillon Collection: in various degrees of decay but numbering some highly desirable rarities. ‘Rust is the new gold’, we said after the French event, as buyers fought over spidery wrecks barely recognisable as motor cars. The Klein cars varied from largely intact, such as some of the pre-War German entries, to just the front chassis and bonnet from a 1968 Lamborghini Miura P400. The latter came with a 1969 Volkswagen Type 2 Single-Cab Pickup thrown in. Most cars were introduced with an announcement from the rostrum: “Please note that this vehicle is offered as parts only.”
Entry to the event was for registered bidders only. The pre-sale favourites were the ‘lost’ 1956 Mercedes-Benz 300 SL alloy, the only black alloy ‘Gullwing’ built, the three-and-half Miuras and the one-off 1935 Mercedes-Benz 500 K Coupé commissioned for Silver Arrows Grand Prix driver and national hero Rudi Caracciola. Those in the know were aware of the Klein cars but had no easy access to them, and the chassis, body and engine numbers of the Miuras remained a mystery until RM opened the doors to the collection only a month ago.
Regular RM auctioneer Mike Shackleton was the man with the gavel at the corrugated iron rostrum and set off at a rattling pace to clear the large (138) lots of engines and spares before starting on the motor cars. An online sale of 360 further less valuable entries runs from 26 to 28 October to shift the balance of the Rudi Klein collection. RM applied its familiar top-tier-sale North American buyer’s premium of 12% on a hammer price up to $250,000 and 10% on any balance over $250,000.
Although nearly 60 percent of the catalogue beat top estimate, and some individual results were noteworthy, unlike the Compiano sale in Milan there were few signs of buyers getting carried away – and the occasional bargain. The early green Iso Grifo S1 was bought for a tenth of the price ($162,400) of the unique Grifo Spider prototype.
Nearly all the cars in the auction required restoration, the cost of which will make or break their future value. We’ll be taking some examples from the catalogue to give K500 readers an inside line on modern restoration costs by best-in-the-business shops in Europe and the US in days to come.
Results of note (all prices gross)
* 1969 Volkswagen Type 2 Single-Cab Pickup with 1968 Lamborghini Miura P400 (front chassis section and clip only), $56,000.
* 1964 Iso Grifo A3/L Spider Prototype by Bertone, $1,875,000.
* 1957 Mercedes-Benz 300 SL Roadster (Rudge wheels, originally red, matching numbers), $1,187,500.
* 1956 Mercedes-Benz 300 SL Alloy 'Gullwing' (originally black, Rudge wheels, all matching numbers), $9,355,000
* 1968 Mercedes-Benz 600 Pullman, $67,200.
* 1959 Porsche 356 A Carrera 1500 GS/GT Coupé by Reutter (complete car, matching numbers engine, from 48 years in storage), $885,000.
* 1935 Mercedes-Benz 500 K 'Caracciola' Special Coupé by Sindelfingen (complete car in good condition), $4,130,000.
* 1969 Lamborghini Miura P400 S (with catalogued matching engine but missing bonnet), $967,500.
* 1968 Lamborghini Miura P400 (with catalogued matching engine and body numbers), $1,325,000.
* 1967 Lamborghini Miura P400 (no engine or gearbox), $610,000.
* 1968 Mercedes-Benz 600 Saloon (right-hand drive, unusual Tunis Beige), $19,040.
* 1962 Porsche 356 B 1600 'Twin-Grille' Roadster by D'Ieteren (complete car, bucket seats, penultimate example built, fewer than 600 miles), $1,160,000.
* 1939 Horch 855 Special Roadster by Gläser (complete car in good condition), $3,305,000.
RM Sotheby’s Rudi Klein ‘The Junkyard’ Collection in Los Angeles, 26 October 2024 – motor cars results
Total gross cars: $28,847,800
Number of cars not sold: 0
Number of cars withdrawn: 0
Total number of cars: 70
Number sold: 70
Percentage cars sold by number: 100%
Percentage by value average low/high estimate: 130%
Number of cars sold below low estimate: 13
Percentage of cars sold below low estimate: 19%
Percentage of cars sold not met avge of estimates: 29%
Percentage of cars sold met/exceeded top estimate: 59%
Average value of cars sold: $412,111
Average year of cars offered: 1962
Percentage of cars offered at No Reserve: 100%
All photos by Evan Klein for K500