John Staluppi's 'Cars of Dreams' sell for $11.5m in US auction

paulfrasercollectibles

2015-06-26 13:04:39

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John Staluppi's 'Cars of Dreams' sell for $11.5m in US auction

Dedicated to collector John Staluppi's 'Cars of Dreams', the auction set new Cadillac records

A collection of the finest examples from John Staluppi's Cars of Dreams Museum has sold with excellent results in North Palm Beach, Florida.

The outstanding December 1sale put the auction house on a high note for the end of 2012, with all lotssold and a total realisation of $11.5m.

Cadillac Series 62 ConvertibleCadillac dominated the sale, with two model year records set

Auctioneer Donnie Gould commented: "We're thrilled with the results from the John Staluppi Cars of Dreams Museum sale. Well-respected in the hobby, John had a very precise collecting philosophy that focused on securing only the 'best of the very best'."

Selling at the top of the auction was a superbly restored 1956 Cadillac Series 62 Convertible, which is considered one of the most flamboyant productions of the company's post-war period. The Mandan red convertible brought a 48.8% increase on its $200,000 high estimate to achieve $499,750 - a new world record for a 1956 Cadillac convertible.

Cadillac dominated the top results, comprising three of the four highest selling lots of the auction. However, the second highest bids were seen by a spectacular 1968 Shelby Mustang GT500-KR Covertible in rare Acapulco blue. The 350 bhp machine sold for $264,000, up 32% on its $200,000 high estimate.

More record results were seen by the 1960 Cadillac Eldorado Biarritz Convertible, which set a new world record for the 1960 model at $206,250. The price represents a 37.5% increase on the $150,000 valuation.

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