What's the next $1,000,000 auction star?

"Sn210" (sn210)
08/28/2014 at 11:45 • Filed to: Future forecast

We all know today that we would have bought as many Toyota 2000GT's we could a decade ago, if we had the cash. What used to trade for $100,000 now sells at high end auctions for over a million dollars. I watched a white example sell at the Gooding & Co. Auction for $1.05 million a few weeks ago in Pebble Beach. RM sold a !!!error: Indecipherable SUB-paragraph formatting!!! one for $1.045m the same weekend.

What do you think the next car will be that follows in the Toyota's tire tracks? Which car out there today will be worth a million in ten or less years?

I nominate the BMW M1. With only 400 or so made and the deepest roots of the M heritage, the mid-engined Bimmer makes perfect sense.

Earlier this year, Opponaut Road Magazine posted about an M1 they had found for sale in the UK. The dealer was asking Ł300,000, roughly $513,000 for this white, 5000 mile example.

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More recently in July, Motor Authority shared this 8000 mile example for sale on eBay with a $499,900 Buy it Now price.

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Bids for a !!!error: Indecipherable SUB-paragraph formatting!!! offering in Monterey for a 24,000 mile car, however, only reached $375,000 and did not meet it's reserve. Still, the car's estimate was between $400-500,000. !!!error: Indecipherable SUB-paragraph formatting!!! offered a white AHG Studie M1 the same week that hit a high bid of $400k.

Regardless, it's clear the demand for these cars is on the rise. !!!error: Indecipherable SUB-paragraph formatting!!! : this 15,000 mile M1 sold at an Arizona RM auction for $137,500 back in 2008. Even at Mecum's lower price of $375k, that's about a 273% increase in only 6 years! What will these be worth in another 6 years and another 273% increase? $1,023,750.

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What other cars are out there waiting for million dollar reserves?