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New York is one of the world's centers for collector auctions of every category, but not automobiles.
He accused the company of "shady practices," alleging that it overcharges for collector coins and provides misleading financial advice to consumers.
As they did during the bull market of the late '80s, vintage Ferraris have helped lead the recent run-up in prices for collector cars.
The auction houses organized the sale as an experiment, aimed at a wider market for collector automobiles presented with an emphasis on art and design.
Arizona in winter is where the rich and weather-weary come to play and pay, a draw for conventions, golf and tennis tournaments and, of course, the auction season for collector cars.
"There's this myth that a car like this can't be driven every day, that they're not really practical or reliable," said Mr. Klinger, the public relations manager for Hagerty Insurance, a Traverse City, Mich., company specializing in coverage for collector cars and classic boats.
Similar(33)
"This is typical for collectors," said Hurum.
The timing is good for collectors.
"It's not for collectors, that's for sure".
For collectors, it's more for the fun of it.
But it's very hard for collectors to sell.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com