The Academy of Art University in San Francisco is auctioning off a fleet of classic cars, including a handful worth the GDP of a small island nation. This extensive collection, which has wheels turning from the roaring '20s to the quaint 2000s, is offered entirely without reserve by Broad Arrow Auctions on February 15th. Most eyes, however, are set on a strawberry-red 1955 Mercedes-Benz 300 SL Gullwing coupe that could fetch up to $1.5 million, Broad Arrow Auctions reports.
The late Richard A. Stephens, who once helmed the institution, built the collection. After his passing in 2017 at age 92, his daughter, Elisa Stephens, took up the mantle and continued to expand the convocation of classics. However, even as the university boasts over 100 meticulously curated cars, times and tastes shift. The academy's President since 1992, Elisa Stephens, has decided to "revamp the collection" in favor of newer models, according to the San Francisco Chronicle.
Students at the academy and car collectors seem to have shifted gears, showing a growing interest in vehicles from the '70s and '80s over the antiquated charm of prewar models. This pivot aligns with broader market trends, too, where prewar cars aren't quite revving up the same excitement or hefty price tags they once did, despite their rarity, the Robb Report explains. Indeed, the pandemic boom that saw collector car prices surge seems to be returning to a more grounded reality. An assessment by Hagerty's Senior Auction Editor, Andrew Newton, and noted by the Chronicle, points to a "cooling off" in the market for these vintage vrooms.
This isn't just an auction. It's a passing of the baton from one set of enthusiasts to another, with Broad Arrow playing matchmaker. Whether it’s the chance to own an iconic piece of motoring history or just the thrill of the bid, anyone with enough green to burn is welcome to try their luck. For those looking to gawk more than bid, a $10 preview is available on February 13 and 14. The auction will open at 1849 Washington St. in San Francisco.
