Antique Way

Collecting Classic Cars

A drizzly Thursday in early June. Out on the plaza at Rockefeller Center, just above the skating rink, throngs of tourists and midtown desk jockeys were oohing and ahhing over the 40-some classic cars put on display by Christie's auction house. Among the eye candy: a metallic-orange Lamborghini Miura once owned by Frank Sinatra, complete with its original shag carpeting and eight-track stereo. A swank two-tone 1939 Delage Cabriolet sporting swooping fenders and a candy-apple red leather interior. And a brawny little 1966 Shelby Mustang GT350H, its gold LeMans racing stripes a hint of its race-worthy horsepower.

Half a block away, inside Christie's, the salesroom was packed. For much of the auction, bidding action was light.

Except when the 1952 Bertone Abarth coupe came up.

If you didn't know about cars, you might think it was a rejected design for the Batmobile. Its aeronautically inspired triple-torpedo front end, machine-gun tail lights and subtly clipped rear fender fins still look disconcertingly futuristic 50 years after it was unveiled. (In fact, its body was conceived by Franco Scaglione for coachmaker Bertone, which showcased it at the 1952 Turin Auto Show as the future of Italian car design.)

Bids started zinging around the room like pinballs. Estimated to sell for $80,000 to $120,000, the Abarth ultimately hammered down at $293,500, including the buyer's premium. Why? Car folk knew this was something special: a so-called bard find of the first degree, with pedigree and mystique. What wasn't to like: the singular Carlo Abarth chassis? The only-one-of-these-in the-world body design? The fact it had "disappeared" for 50 years? Or (car gods be praised) that it had been preserved in its original state?

It was a case study in what the vintage car market values above all: bold design, utter uniqueness and "pure" original condition. (The only thing missing: a high-performance engine.) If you're interested in collecting cars, take a minute and commit those criteria to memory. Then read on for insights on the state of the market and tips on smart collecting. To read the rest of this article or other articles from The Forbes Collector.