A Rare, Historic Porsche Racer Leads RM Sotheby’s New German Sale - Kanebridge News
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A Rare, Historic Porsche Racer Leads RM Sotheby’s New German Sale

By Jim Motavalli
Thu, Jul 11, 2024 7:00amGrey Clock 3 min

The 24-year-old actor James Dean died in a car accident, colliding with a college student at a California intersection on the evening of Sept. 30, 1955. The car he was driving was a Porsche, but not an ordinary 356. It was a very streamlined 550 Spyder, nicknamed “Little Bastard” by the race-crazy Dean.

The 550 Spyder was an out-and-out racer, but the kind that owners could register and drive to and from the track in those days. The open-topped Porsche was made for only three years, from 1953 to 1956, and although they were very successful in competition, only 90 were produced. The mid-mounted “Carrera” engine in the 550 had four overhead camshafts and dual ignition. With twin Solex carburetors, it produced 110 horsepower. That wasn’t a lot, but the 550 Spyder was a very light car, just 590 kilograms (1,300 pounds).

An example of the 550 Spyder, from 1955 with colourful racing history, is one of the cars that will be sold by RM Sotheby’s in an auction by Lake Tegernsee, about 40 minutes south of Munich, on July 27. Also on the block is a pair of modern Bugattis, a rare Mercedes-Benz SLR McLaren Stirling Moss, and a 2006 Porsche Carrera GT. The auction is taking place in partnership with the new Concours of Elegance Germany in Bavaria, held July 22-27.

The only one: This 2010 Bugatti Veyron 16-4 Grand Sport “Soleil de Nuit” to be auctioned by RM Sotheby’s was built for the royal family of Kuwait.
RM Sotheby’s

This Porsche 550 Spyder, with coachwork by Wendler (which also had its hand in the 718 sport racing cars), was delivered to Portugal and competed in European racing circuits. Originally white with burgundy accents, the car was first owned by Fernando Mascarenhas, who achieved class podium positions in races at Barajas and Monsanto in 1955. The 550 then went to Germany that summer for the Nürburgring 500 Kilometers, but the race was cut short because of an accident.

The second owner was Cypriano Flores in 1958. Flores’ son eventually returned the car to Porsche, which did the mechanical work while Wendler restored the body.

Despite the racing, which often results in swapped engines and other components, the 550 still boasts its original chassis, four-cam Carrera motor, and gearbox. The car was restored by Porsche and its original coachbuilder, Wendler, in the early 1990s—and not driven since then. During the restoration, the car’s colour was changed to silver, and the interior from beige vinyl to black leather. The pre-auction estimate is €3.5 million to €4.2 million (US$3.78 million to US$4.54 million).

Also to be auctioned at Tegernsee is the aforementioned 2010 Mercedes SLR McLaren Stirling Moss, a virtually unused example with just 45 kilometres on the odometer. First shown in 2009, it was a tribute to the late racing driver’s win in a 300 SLR Mercedes at the 1955 Mille Miglia.

The auction SLR features a lightweight carbon-fibre structure and a supercharged, 5.4-litre V8 with 641 horsepower. A mere 75 Stirling Moss cars were built, and only offered to customers who already owned an SLR McLaren. Without a roof or windshield, the Moss edition was 200 kilograms lighter than the standard car. It could reach 62 miles per hour in 3.5 seconds. The pre-sale estimate is €3.2 million to €3.8 million.

The modern Bugattis include a 2019 Chiron Sport “110 Ans Bugatti” edition, one of 20. The odometer reads only 1,461 kilometres. It’s estimated at €3.3 million to €3.8 million. The other one is the 2010 Veyron 16.4 Grand Sport “Soleil de Nuit,” a one-off Veyron in two-tone black/blue metallic sold new to the royal family of Kuwait. The estimate is €1.5 million to €2 million.

The 2006 Porsche Carrera GT, one of just 1,270 of these race-derived high-performance cars, is also a low-mileage example in silver metallic with 35,698 kilometres showing. It’s powered by a 5.7-litre V10 engine and could reach 62 miles per hour in 3.57 seconds and had a top speed of 205 mph. This one was supplied to Porsche in Leipzig, and a succession of owners barely used it. In 2001, the Porsche benefitted from a major €27,000 service that included a clutch replacement. It’s estimated at €975,000 to €1.275 million.

Porsche collectors might also want to visit the Bonhams|Cars Quail auction during Monterey Car Week starting Aug. 16. The lots include a one-of-62 1971 Porsche 911 S/T (estimated between US$900,000 and US$1.2 million); and a 1993 959 “Komfort” model, one of six, estimated at US$1.5 million to US$2 million.



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Apple’s growth engine is showing signs of slowing, as rising costs, weaker services growth and AI competition challenge its profitability. With John Ternus taking the helm, the pressure is on to reignite innovation and sustain investor confidence.

By Rolfe Winkler
Tue, Nov 3, 2026 3 min

The Apple growth and profit machine is wavering, and the boost from price increases might not be enough to keep it going at historic rates. That dials up the pressure on Apple’s new chief executive, John Ternus.

The company saved the bad news for its earnings call, an hour after it posted its results for the September quarter, projecting that for the current quarter its high-margin services business will continue to slow and that its widely watched gross profit margin will continue to fall.

Apple AAPL -1.83%decrease; down pointing triangle shares had been flat in post-close trading but declined as much as 4% after the company made the projections, which fell short of Wall Street estimates.

The impact of high memory costs are weighing even more heavily on the company, Ternus and Apple Chief Financial Officer Kevan Parekh said on the company’s earnings call. Apple has stockpiled cheaper components purchased earlier, but those inventories are dwindling.

When Ternus took over as Apple’s third chief executive of the past 29 years on Sept. 1, he inherited sky-high expectations. The men he followed were among the most successful company leaders in American business history. Steve Jobs revolutionized consumer devices multiple times. Tim Cook expanded Jobs’s creation to spectacular heights.

The expectations are reflected in Apple’s huge valuation. Oppenheimer analyst Martin Yang noted that Apple stock trades at 36 times next year’s expected earnings, a premium to the overall market, even though its earnings are only expected to grow 1%, which is slower than its tech peers.

“We see insufficient upside to justify the premium,” Yang wrote in an investor note, adding that Apple needs to boost iPhone sales growth and turn around its slowing services business to make him more bullish.

Investors have bid up Apple shares because it has been a port in the AI storm—a reliable and capital-efficient business that stands apart from rivals which are spending hundreds of billions of dollars racing to the AI frontier.

While others invest in data centers, Apple has been pouring its own cash into buybacks and dividends. But that safety may be challenged if Ternus can’t speed up Apple’s innovation engine.

Apple’s lagging performance in AI was evident when its new “Siri AI” chatbot arrived this past quarter. Its long-maligned assistant was already stale the day it arrived, surpassed by agents such as Instinct and Muse that can complete multistep tasks for consumers, while Siri still sets kitchen timers.

Apple needs to give people reasons to buy its devices as they get more expensive. The company raised prices across the board last quarter to help offset higher costs. Without compelling new features, a big question is whether consumers will slow the frequency of iPhone upgrades.

The new iPhone Duo appears to be a bright spot. Consumers are scooping up the $1,999 foldable smartphone despite mixed reviews—so many that Apple can’t keep up with demand. Shipping dates jumped out to January soon after the device went on sale, a disappointment for the normally reliable Apple supply chain.

Apple said its revenue grew 12% in the September quarter, slightly ahead of Wall Street’s expectations. Its widely tracked gross profit margin, at 47.9%, also came in just ahead of analyst estimates.

Apple will need to find new growth avenues because a reliable engine during the Cook era—the services business—is slowing. Courts and regulators worldwide have limited Apple’s ability to charge developers big fees to distribute apps through its App Store, the biggest component of the company’s services segment.

One of its most lucrative App Store fee generators has been the ChatGPT app from OpenAI. Around the time Apple accused OpenAI of trade-secret theft this past summer, OpenAI began redirecting potential subscribers to pay via its website instead of the App Store, skirting Apple’s tollbooth.

Apple’s valuation has bumped up against a ceiling in recent weeks. Six times it traded above a $5 trillion market capitalization intraday before finally closing above the threshold, which it has already fallen back below.

News Corp, owner of The Wall Street Journal, has a commercial agreement to supply news through Apple services.