Hot wheels - Lifestyles of the Rich: Business Briefs from Across South Florida

South Florida CEO, March, 2004 by Barbara Perkins

The economy may still be sputtering these days, but that hasn't put a dent in the classic-car market. Sales were roaring at the 2nd annual Collector Car Auction, held at the Royal Palm Polo Grounds in Boca Raton.

Estimates are that, over a three-day period in February, 35,000 car enthusiasts attended the event. All told, 400 cars were sold this year for a total of $8.4 million. The big ticket item? A 1942 Packard 180 Darrin Victoria (below)--one of only 14 ever built--which went for $240,000. Other big draws were a 1955 Mercedes-Benz 300SL Gullwing, which crossed the block at $211,000, and a 1928 Bugatti Type 44, going for a bid of $145,000. RM Auctions Inc., the Ontario-based outfit that puts on the event, runs about 15 auctions a year across North America. But company spokesman Terry Lobzun says, "Boca is where we want to focus and grow. We seem to get the right people there." Auction officials are tight-lipped on the identity of the new owners, but say the bulk of buyers came from the South Florida area--though the new owner of the Packard is from millionaire-laden Naples.

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