Scottsdale, Arizona, January 23, 2012
A few weeks ago, we sent out a note addressing the issue of classic automobiles, Mercedes Benz in particular, from the perspective as an investment. Writing this from the annual Scottsdale, Arizona auto auctions, it is evident the market is clearly strong despite the general economic environment. And, for Mercedes Benz in particular, some new records have been set that illustrate the desirability of the 300SL.
Of particular note was the record-shattering sale of an alloy body 300SL Gullwing that brought $4.2 million, exceeding by more than a million the pre-auction upper estimate. Perhaps of even more significance was the $2.2 million sale of a standard steel body 300SL. While only 29 of the alloy body cars were produced, nearly 1,400 of the steel bodied cars were produced. The steel bodied car sale exceeded last years record-setting $1.4 million sale of a 300SL that had been restored by Passarelli Restorations, giving weight to the argument that rather than an aberration, seven figure sales of the 300SL will become more the norm. This year’s sale was an unrestored car with less than 5,000 original miles, certainly a contributing factor to the value, but also underscoring the desirability and rarity of these amazing automobiles.
If you are a collector or investor looking to acquire one of these cars, including the other SL marques and some of the rarer sedans and coupes, Passarelli Restorations has the ability to locate and acquire these very rare automobiles at attractive prices and provide the kind of world-class restoration that brings both tremendous value and an incredible driving experience.
Contact Passarelli Restorations at 480.488.1804 or 808.443.9100
Passarelli Restorations business office can be reached at 702.808.1609
Email: [email protected]
A few weeks ago, we sent out a note addressing the issue of classic automobiles, Mercedes Benz in particular, from the perspective as an investment. Writing this from the annual Scottsdale, Arizona auto auctions, it is evident the market is clearly strong despite the general economic environment. And, for Mercedes Benz in particular, some new records have been set that illustrate the desirability of the 300SL.
Of particular note was the record-shattering sale of an alloy body 300SL Gullwing that brought $4.2 million, exceeding by more than a million the pre-auction upper estimate. Perhaps of even more significance was the $2.2 million sale of a standard steel body 300SL. While only 29 of the alloy body cars were produced, nearly 1,400 of the steel bodied cars were produced. The steel bodied car sale exceeded last years record-setting $1.4 million sale of a 300SL that had been restored by Passarelli Restorations, giving weight to the argument that rather than an aberration, seven figure sales of the 300SL will become more the norm. This year’s sale was an unrestored car with less than 5,000 original miles, certainly a contributing factor to the value, but also underscoring the desirability and rarity of these amazing automobiles.
If you are a collector or investor looking to acquire one of these cars, including the other SL marques and some of the rarer sedans and coupes, Passarelli Restorations has the ability to locate and acquire these very rare automobiles at attractive prices and provide the kind of world-class restoration that brings both tremendous value and an incredible driving experience.
Contact Passarelli Restorations at 480.488.1804 or 808.443.9100
Passarelli Restorations business office can be reached at 702.808.1609
Email: [email protected]
