Sunday 25th February 1979
Christie’s Ltd., the London-based auction firm, held its first collector car auction in Los Angeles. M.L. Bud Cohn purchased a 1936 Mercedes-Benz 500K roadster for $400,000. High-end automobile auctions are commonplace today, and Mr. Cohn’s purchase seems like a bargain, considering that in 1987 a 1963 Ferrari GTO hardtop sold for $1.6 million.