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

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

Cadillac Series 62 Convertible
Cadillac 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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