It's Monterey, Jack: RM Sotheby's Hopes to Make Bank in California

Those of you who prefer wine and cheese over beer and burgers would probably find yourself at the Monterey Car Week 2022 & Pebble Beach Concours d’Elegance rather than the Woodward Dream Cruise – both are held on the third weekend of August. While your author is firmly in the latter’s camp, he appreciates the bonkers amount of money being tossed around at the former.

As they often do, RM Sotheby’s will be using the occasion to hold a high-dollar auction. Lots include the likes of a 1955 Ferrari 410 Sport Spider by Scaglietti allegedly raced by Fangio himself.

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CEO Accused of Fraud Forced to Auction Exquisite Car Collection

Former millionaire and ex-owner/CEO of Interlogic Outsourcing Najeeb Khan has been forced to sell off his entire car collection after declaring bankruptcy last year. Accusations of fraud from former clients and businesses partners really put Mr. Khan through the financial wringer. Multiple lawsuits claim the company failed to hand clients’ tax money over to the Internal Revenue Service — encouraging Khan to sell his business to Pennsylvania-based payroll firm PrimePay. While that certainly sounds suspicious, any determinations on his guilt are best left to the professionals.

Since Khan’s company has little to do with the automotive sphere, we’re not overly concerned with the details of the alleged monetary malfeasance, anyway. The important issue, from our perspective, is he now has to sell off his remaining assets. That includes investments made into various businesses, multi-million-dollar homes, and 281 vehicles — many of which are highly valuable and incredibly rare.

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  • TCowner We've had a 64.5 Mustang in the family for the past 40 years. It is all original, Rangoon Red coupe with 289 (one of the first instead of the 260), Rally Pac, 4-speed, factory air, every option. Always gets smiles and thumbs ups.
  • ToolGuy This might be a good option for my spouse when it becomes available -- thought about reserving one but the $500 deposit is a little too serious. Oh sorry, that was the Volvo EX30, not the Mustang. Is Volvo part of Ford? Is the Mustang an EV? I'm so confused.
  • Mikey My late wife loved Mustangs ..We alway rented one while travelling . GM blood vetoed me purchasing one . 3 years after retirement bought an 08 rag top, followed by a 15 EB Hard top, In 18 i bought a low low mileage 05 GT rag with a stick.. The car had not been properly stored. That led to rodent issues !! Electrical nightmare. Lots of bucks !! The stick wasn't kind to my aging knees.. The 05 went to a long term dedicated Mustang guy. He loves it .. Today my garage tenant is a sweet 19 Camaro RS rag 6yl Auto. I just might take it out of hibernation this weekend. The Mustang will always hold a place in my heart.. Kudos to Ford for keeping it alive . I refuse to refer to the fake one by that storied name .
  • Ajla On the Mach-E, I still don't like it but my understanding is that it helps allow Ford to continue offering a V8 in the Mustang and F-150. Considering Dodge and Ram jumped off a cliff into 6-cylinder land there's probably some credibility to that story.
  • Ajla If I was Ford I would just troll Stellantis at all times.