HERNDON, VA - Charity auctions typically offer high-value items to spur bidding that benefits a worthy cause. However, what unfolded at the 3rd annual Boca Raton Concours d' Elegance auction really stood out.
The Florida charity gala for the Boys & Girls Clubs of Broward County, Fla., featured the opportunity to own the first 2010 Audi R8 5.2 FSI quattro delivered to the U.S. The newest addition to the highly acclaimed Audi R8 lineup is equipped with a ten-cylinder engine that generates 525 hp and achieves 0-62.14 mph in 3.9 seconds. The new R8 V-10 also offers advanced technologies, such as a lightweight aluminum Audi Space Frame and quattro all-wheel drive, found in the eight-cylinder Audi R8 sports car that claimed several worldwide awards in 2008, including World Performance Car and World Design Car of the Year.
The 2010 Audi R8 5.2 FSI quattro isn't expected to arrive in the U.S. until fourth-quarter 2009. The Gala auction, held Feb 21 at the Boca Raton Resort & Club, also featured the chance to buy one of the first 2010 Ferrari California sports cars available in the U.S. But none of that dampened interest in the new Audi R8 V-10.
After bids for the Ferrari topped out at $350,000, interest in the Audi R8 V-10 drove its final price to $500,000 - a record for any new-production Audi model. In 2007, an Audi R8 sold in a sealed-bid Bergdorf Goodman auction for $425,000.
To raise more money for the Boys & Girls Clubs, the winning bidder at the Boca Raton auction offered to give his rights to the first R8 V-10 if Audi would give him the second model available in the U.S. Audi agreed and the two R8 V-10 models sold for $850,000 combined.
Off-lease fleet vehicles sold in the wholesale market at auction fell 1% in value in June from the prior month but increased 7% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.