Auction Action: The inside story of RM’s London Sale

Mercedes at Auction in London
An Insider’s view of RM’s “Battersea Park” Sale

Photography from Angus Dunwoody Dun and Ernst-Jan van Kouwen

RM Auction London 28th October, 2009

Situated by the river Thames in London, the auction was held in an event arena in Battersea Park. Between the river and the arena is a fabulous Buddhist peace pagoda, which had the curious effect of conjuring the Mercedes 280 SL. I paused for a moment as I passed, meditating on the thought of nothingness and material world abandon, then headed for the best car show on the planet.

Street registered CLK GTRs on display in the entrance hall. The roadster sold for $995k and the coupe fetched $843k. Each is capable of providing a memorable LeMans level driving experience.

My car is being mended and so I very sheepishly parked my bicycle next to the Bentley in the carpark, leaving a note asking the Bentley owner to take care not to scratch my pride and joy.

Purple interior trim of CLK GTR Spider a bit rich but would be quickly forgotten once up to speed in this thinly disguised race car.

There were six Daimler Benz cars in the auction. All are very desirable in their own way. Two CLK GTRs took pride of place in the entrance hall alongside a lovely 1962 Ferrari 400 Superamerica cabriolet.  The CLK GTR cabriolet had a hideous purple interior which made it look for all the world like a toy car, one of those miniature replicas made in China with solid plastic interiors. The hard-top wasn’t much better, with an awful tartan interior. I have to say that I do like the token side windows on these cars, but I wouldn’t fancy parking one. The curvaceous bodies of the GTRs were though totally alluring, mouth-watering aperitifs for the main course inside.

Amazing AMG modified Gullwing rarely seen in public. AMG's personalization studio completely remanufactured an ORIGINAL Gullwing with modern drivetrain. Matching the nature of its owner, this hot rod Gullwing featured showy heavy metalflake silver paintwork.

RM Auctions, here with Christies are cornering the global market in fine automobiles. There was much to tempt the connoisseur. The four Mercedes up for auction were a red over white 190SL, a silver 300SL, a metallic 300SL AMG and a molested 600 Landaulet. The 300SL AMG was outstanding and made the “normal” 300SL look like a 190!

Lavishly appointed AMG Gullwing interior is certainly incongruous with the car it's installed within. This Gullwing was truly a mind bender. Workmanship seems to be without fault.

It may not be to the purists’ taste to modify such a classic with an upgraded later model engine and power-train but when it is done by AMG and they make such a fine job of it, I for one approve. I am a 280SE w111 devotee and I’ve seen Mechatronik of Germany do a similar thing with a 1971 3.5, swapping out the engine for a five litre V8 to great effect.

Normally aspirated E55 engine provides this most unusual Gullwing with 360hp. V shaped tie bar connected to original GW spaceframe at cowl area provides extra rigidity for a structure originally designed to cope with 215hp.

Even during the course of the auction I watched as people found themselves drawn to its side, like protective fathers giving away their daughters at a wedding, they were full of pride and not a little sorrow to see her go off with another man. The AMG sold for £410,000, that’s $679,000 and there was a bit of a fight for it. A late bidding strategy won the day, and even the auctioneer was impressed with the winning bidders’ tactics. The car has a smooth undercarriage and the cabin is dark but a lovely place to sit.

Glittery Gullwing made $679k, a sum that would have purchased a #1 condition correct Gullwing.

I thought that the paintwork was outstanding, with a pearlescent, glittery lustre. The wheels are not my favourite but they work pretty well on the car in the flesh. AMG only made eleven of these and five of them went to the Brunei Royal family. I don’t believe that this car was from the Royals, as it was just arrived from Singapore and subject to a 5% import tax. Add that to the auctioneer’s commission and it was an expensive buy. Given the way it surpassed the other 300SL on show; I can only suppose that it is worth it to the lucky owner.

Grossly neglected "barn find" 600 Landaulet flattered to deceive. Low estimate lulled potential buyers into false hopes of securing a bargain.

The car which drew me to the auction was the Landaulet – the ultimate bad boys’ car. Exclusively bought new by utter bastards and dictators the car on show was the only wreck amongst the hundred or so cars there. For me though, it was the star. RM rather cleverly set a low estimate of between £40,000 and £60,000.

Once the most sumptuous motorcar money could buy, RM's Landaulet had been the subject of abject neglect for decades. It could have been worse; rumors indicated there were plans for an earlier owner's political rivals to destroy the car.

It certainly drew me in at that price. However, I was wise enough to do my research and after visiting the car a couple of weeks prior to the auction I looked into restoration costs. The only other Landaulet currently on the market is for sale in Germany at £640,000. At first I was fooled into seeing a handsome profit, given the low estimate. But the 600 grosser is no ordinary car.

Grim looking 600 partially complete and needed every item reconditioned/restored. We would consider the Landaulet to be one of the most complicated post-war production automobiles to restore.

It is as some of you will be painfully aware a monstrously complicated motor car and restoration does not come cheap. I found President Tito’s car (former president of former Yugoslavia) sold from a private collection in France in 2003 for £330,000. Otherwise, it is difficult to value. I figured that a proper and full restoration of this car would cost the best part of half a million pounds given its poor state.

Rearmost power seats destroyed as is every square inch of wood, leather and carpet - a daunting project!

Some of the marques discussion boards have bemoaned the poor condition and wondered how it could have come to such a state. The story goes that this car came from a dictator who was overthrown and his garage fell into the overthrowing army’s hands, this 600 only just rescued from total destruction. So, I think perhaps we can forgive the sellers for its poor state and thank them for its survival.

More interior devastation - center, rearward facing seats fairly intact. The same cannot be said for the once lovely bar located between the seats.

The Landaulet was an exciting auction. It finally went for £270,000 ($444,000). I chatted briefly with the winning bidder who told me he bought it for an unnamed associate and that he would do the restoration himself. Inspired by the AMG Gullwing, I asked him if he’d keep the w111 engine or perhaps think about swapping the engine for something else. “Like what?” he asked.

“How about a 420V8 Diesel” I ventured, which surprised him a little but got him thinking.

“Good idea!” he said….” a taxi, “

Angus Dunwoody Dun