The following list shows the top 10 most expensive cars in the world based on their value at auction.
Explaining Prices For The Most Expensive Cars
The market for the world’s most expensive cars remains relatively steady despite tremors in the rest of the economy. Rare and collectible car auctions yield high prices for a variety of reasons. The rarity of a particular car is the primary concern for prospective buyers interested in submitting multi-million dollar bids. The condition of a rare Ferrari©, Bugatti©, or Mercedes-Benz© is also critical with the difference between a mint and a very good car measured in thousands of dollars. The presence of avid collectors and wealthy patrons at an auto auction drives up the price on prized cars. The value of the world’s most expensive cars depends as much on the motivations of buyers as vehicle histories and legends.
Top Ferraris©
The most expensive Ferrari© based on auction value is the 1961 Ferrari 250 GT SWB LA Spyder®. The Spyder® is a rarity in the global auto market with only 36 units created in 1961. Actor James Coburn sold this rare car to BBC Radio 2 presenter Chris Evans in 2008. The $10.9 million auction price for this 1961 Ferrari© was based not only on the rarity of the car, but the meticulous restoration paid for by Coburn. While a few cars on this list may challenge the $10.9 million mark in the future, the 1961 Ferrari 250 GT SWB LA Spyder® remains the leader in terms of the most expensive cars on the market.
Ferrari© figures prominently in the list of the top 10 most expensive cars in the world. A 1962 Ferrari 330 TRI/LM Testarossa® was sold for $9.2 million in 2007. This Testarossa® model was notable for winning the 1962 24 Hours of Le Mans for Ferrari©. A 1962 Ferrari 250 GTO® was sold for $6.2 million as part of a 1991 auction in Las Vegas. This sale was the last known unit of the 250 GTO® to be purchased out of an overall production run of 36 units. A 1953 Ferrari 340/375 M Berlinetta Competizione® was sold at auction in 2007 for $5.8 million. The Berlinetta Competizione® shows Ferrari’s© rich racing past with a successful run at the 1953 24 Hours of Le Mans.
Top Bugattis©
French automaker Bugatti© created some of the finest automobiles in the world from 1909 to 1963. The demise of the Bugatti© name in the mid-1960s has only strengthened the value of the brand name in the past four decades. Two Bugatti© models sit on the list of top 10 most expensive cars in the world starting with the 1931 Bugatti Royale Kellner Coupe®. The Royale Kellner Coupe® was produced for the upper class in France with only six units sold in 1931. A 1931 Bugatti Royale Kellner Coupe® was sold at an auto auction in London’s Royal Albert Hall in 1987 to millionaire Hans Thulin for $9.7 million.
The 1931 Bugatti Royale Berline de Voyager® is an even rarer car prized by serious and financially endowed collectors. Six units of the Berline de Voyager® still exist though none of these vehicles sold in 1931 because of the original retail price of $45,000. While the Berline de Voyager® was not a commercial success during the Great Depression, two units of this Bugatti© rarity have sold in the past 25 years. The estate of deceased casino impresario Bill Harrah sold its Berline de Voyager® for $6.5 million at a 1986 auction in Reno. The last sale of the 1931 Bugatti Royale Berline de Voyager® took place at a Florida auction in 1991 where the winning bidder paid $8 million.
Top Mercedes-Benz Cars©
The most expensive Mercedes-Benz© car sold at auction was the Mercedes-Benz 540K Special Roadster®. This distinctive sedan sold for $8.2 million by Bernie Ecclestine at an auction in 2007. The 540K Special Roadster® features a V-shaped windscreen, powerful engine, and graceful body. Another Mercedes-Benz© car popular among the auto collector set is the 1929 38/250 SSK®. This model was a limited edition with only 33 made during the 1929 model year. A 38/250 SSK® was sold at an auction in Suffolk in 2004 for $7.4 million.
Other Expensive Vehicles On The Auction Circuit
The only entrant in the top 10 most expensive cars in the world by Rolls Royce© is the pre-1905 10-horsepower two seater. This model is perhaps the oldest vehicle sold at auction in recent memory as well as the highest auction price for a Rolls Royce© vehicle. The Rolls Royce 10-horsepower two seater sold for $7.25 million at a Bonhams© auction in London in 2007. The last entrant on the top 10 most expensive cars in the world was the $5.1 million auction of a 1930 Bentley Speed Six®. This vehicle sold at a 2004 auction held by Christie’s© in honor of the 24 Hours of Le Mans. The 1930 Bentley Speed Six® is similar to other entrants on this list for its victory in the 1930 24 Hours of Le Mans.
Online Resources For Finding Expensive Cars
The best starting point for finding information on the world’s most expensive cars is the select group of auction houses dealing in rare cars. Christie’s© (http://www.christies.com/) may be known for its art auctions, but this venerable auction house runs some of the best auctions for rare car lovers. Car lovers get excited when they find out about Christie’s© car auctions because of its reputation for well-run auctions. Barret-Jackson Auction Company© (http://www.barrett-jackson.com/) runs an annual auto auction in Las Vegas each October along with occasional auctions in Palm Beach and Scottsdale, Arizona.
One of the best sources for technical information and history on the world’s most expensive cars is Jay Leno’s Garage© (http://www.jaylenosgarage.com). This website is ostensibly an online chronicling of entertainer Jay Leno’s extensive car collection based out of a 17,000 square foot facility in California. Jay Leno’s Garage© offers descriptions of this collection of rarities along with expensive cars not yet in Leno’s possession. The detailed descriptions of cars like the Bugatti Royale Berline de Voyager and the Mercedes-Benz 38/250 SSK put into perspective their high auction prices.
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