Gene Ponder classic car collection sells for $24m at auction

Sale of automobiles saw cars as diverse as a Pegasus Neon and a Bugatti Children’s Car go for big numbers

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It was a case of vroom vroom in the auction room for Sotheby's after it travelled to Texas in the US and sold 100 per cent of Gene Ponder’s collection of classic cars for a grand total of $24,315,416 across three days.

The lots under the hammer included a Pegasus Neon and Bugatti Children’s Car — both smashed their pre-sale estimates, bringing $19,550 each.

Bugatti Children’s Car. Photo: RM Sotheby's

Friday’s auction saw 455 lots bring nearly $1.3m, with the Arnolt-Bristol Engine on Running Engine Stand being the top lot of the day at $57,500.

Saturday’s auction saw 217 lots sell, 126 cars and 91 lots of memorabilia. The day brought more than $22m, with the 1960 Mercedes-Benz 300 SL Roadster being the top lot at $1,595,000.

Scroll the gallery above to see the top 10 lots sold over the three days.

The full house of sales unsurprisingly went down very will the collector himself.

“I am so impressed with RM Sotheby’s," said Gene Ponder. "They have so much pride in what they do, and they will put in as much effort into a $500 lot as a $5m lot.

"The RM Sotheby’s team has spent thousands of hours onsite ensuring the sale would be a success, and the results of the auction reflect the effort and passion of everyone at RM Sotheby’s.”

Thatcher Keast, RM Sotheby’s auction co-ordinator said the sale had been an "incredible opportunity for a buyer to come experience the passion of Mr. Ponder first-hand at his estate."

"We are thrilled that [he] chose RM Sotheby’s to execute a sale of this magnitude and, as a team, RM Sotheby’s knew we would deliver the best possible results for him. The sale was extraordinary, and we are extremely happy with the results we achieved."

Updated: October 13, 2022, 11:48 AM
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