INVESTING IN CARS
Scrap cars sell for millions of dollars at Rudi Klein auction
California auction shows there is gold in rusting wrecks if they’re rare enough
There’s gold in scrap metal if it has the right shape and provenance. A collection of crashed classic cars and rusting motoring memorabilia was sold for millions of dollars at an RM Sotheby’s auction held in the US at the weekend.
Eager collectors snapped up over 200 lots of rare rusting hulks, body parts and mechanical components at The Junkyard: The Rudi Klein Collection auction in Los Angeles, California. Klein, who died in 2001, had since 1967 amassed an automotive trove of crash-damaged sports cars and components in his Los Angeles scrapyard. Known for a discerning eye and passion for rare and unique cars, Klein’s collection had long been a well-kept secret, with only rumours of its existence swirling around certain collectors’ circles. Some were significant models long thought lost or destroyed...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.