RM AUCTIONS AND SOTHEBY'S STUN THE MARKET WITH INCREDIBLE $63 MILLION 'ART OF THE AUTOMOBILE' SALE IN NEW YORK

- RM Auctions and Sotheby's momentous Art of the Automobile auction generates $62,797,500 of sales in two hours of furious bidding
- Records tumble with the historic 1964 Ferrari 250 LM by Carrozzeria Scaglietti achieving $14,300,000 while the stunning 1938 Talbot-Lago T150-C SS Teardrop Cabriolet by Figoni et Falaschi sells for $7,150,000
- 93 percent of all lots sold to an international audience of bidders representing 17 countries

NEW YORK, New York (November 21, 2013) – In what is being regarded as one of the most incredible collector car auctions of all time, RM Auctions and Sotheby's Art of the Automobile sale today achieved $62,797,500 of sales in just over two hours of bidding. The packed sale room saw records tumble across numerous lots, with top sale honors going to a 1964 Ferrari 250 LM, a wonderfully historic and original example of this very rare sports racing Ferrari, which sold for $14,300,000, establishing a new world record for the model at auction. Taking the number two spot was the simply gorgeous 1938 Talbot-Lago T150-C SS Teardrop Cabriolet by Figoni et Falaschi, commonly regarded as one of the most beautiful coach built cars of all time, which sold for $7,150,000, also establishing a new world record for the model at auction.

The 31 hand-picked automobiles, two motorcycles and seven pieces of artwork, offered at the Art of the Automobile sale, the first major collector car auction to take place in Manhattan for over a decade, presented over a century of stunning automotive history and design in a unique gallery setting at Sotheby's New York headquarters. The auction, with its unique blend of quality and presentation, has set a new standard within the collector car auction market and attracted a vast and diverse audience of international bidders, keen to secure the finest examples of automotive artistry available to the market. Demonstrating both RM and Sotheby's international footprint, bidders hailed from 17 countries, 15 percent of whom represented clients who had never participated in an RM sale.

Rob Myers, CEO and Founder of RM Auctions, says: "Working with Sotheby's, we set out to create the finest automobile auction that there has ever been. Our aim has been to raise the bar and set a completely new standard for quality and presentation, and I am delighted to say that these amazing results have proven it a great success. What we have established here in New York is a complete demonstration of how to bring some of the world's rarest and most exceptional automobiles to market, in both an exciting and visually arresting way. Furthermore, the sale has successfully brought many new collectors into the market for the first time, which is fantastic news for our hobby."

Aside from the Ferrari 250 LM and Talbot-Lago, numerous additional lots sold spectacularly well during the sale, with several world record prices established. The third highest seller of the night was the unique 1959 Ferrari 250 GT SWB "Competition" Berlinetta Speciale, one of the greatest dual-purpose sports racing cars of all time, with bespoke coachwork by Bertone. Huge interest in this car culminated in a top bid of $7,040,000.

Other notable European highlights include the 1954 Maserati A6G/2000 Spyder by Carrozzeria Zagato, the only example with coachwork by Zagato, which sold for $4,455,000 while the 1936 Delahaye Type 135 Competition Court Teardrop Coupé by Carrosserie Figoni et Falaschi, the 1933 Rolls-Royce Phantom II Continental Sports Coupé by Freestone & Webb, and the 2011 Bugatti Veyron 16.4 Grand Sport Bleu Nuit, each achieved $2,420,000.

No less than 16 of the 31 automobile lots achieved in excess of $1,000,000, including:

Lot 141 - 1964 Ferrari 250 LM by Carrozzeria Scaglietti - $14,300,000
Lot 122 - 1938 Talbot-Lago T150-C SS Teardrop Cabriolet by Figoni et Falaschi - $7,150,000
Lot 136 -1959 Ferrari 250 GT SWB "Competition" Berlinetta Speciale - $7,040,000
Lot 134 - 1954 Maserati A6G/2000 Spyder by Carrozzeria Zagato - $4,455,000
Lot 121 - 1955 Ferarri 250 Europa GT Coupe - $2,420,000
Lot 117 - 1936 Delahaye Type 135 Competition Court Teardrop Coupé by Carrosserie Figoni et Falaschi - $2,420,000
Lot 112 - 1933 Rolls-Royce Phantom II Continental Sports Coupé by Freestone & Webb - $2,420,000
Lot 126 - 2011 Bugatti Veyron 16.4 Grand Sport Bleu Nuit - $2,310,000
Lot 111 - 1956 Aston Martin DB2/4 MK ll 'Supersonic' by Carrozzeria Ghia - $2,035,000
Lot 110 - 1961 Ferrari 250 GT Series II PF Cabriolet - $2,035,000
Lot 124 - 1933 Duesenberg Model SJ Beverly - $1,760,000
Lot 127 - 1958 BMW 507 Series ll Roadster - $1,650,000
Lot 109 - 1960 Mercedes-Benz 300 SL Roadster - $1,650,000
Lot 120 - 1955 Mercedes-Benz 300 SL Gullwing - $1,265,000
Lot 144 - 1933 Auburn Twelve Custom Speedster - $1,219,000
Lot 139 - 1964 Chevrolet CERV II - $1,100,000

In total a staggering 11 cars achieved world record prices:

Lot 109 – 1960 Mercedes-Benz 300 SL Roadster - $1,650,000 – Record for a 300 SL Roadster at auction
Lot 112 – 1933 Rolls-Royce Phantom II Continental Sports Coupe - $2,420,000 – Record for a Rolls-Royce Phantom II at auction
Lot 114 – 1933 Auburn Twelve Custom Speedster - $1,210,000 – Record for an Auburn Twelve Speedster at auction
Lot 115 – 1932 Ford V-8 Cabriolet - $319,000 – Record for an unmodified 1932 Ford at auction
Lot 122 – 1938 Talbot-Lago T150-C SS Teardrop Cabriolet - $7,150,000 – Record for a Talbot-Lago T150-C SS at auction
Lot 127 – 1958 BMW 507 Series II Roadster - $1,650,000 - Record for a BMW 507 at auction
Lot 128 – 1958 Oldsmobile Ninety-Eight Convertible - $258,500 - Record for a 1958 Oldsmobile Convertible at auction
Lot 130 – 1954 Pegaso Z-102 Series II Berlinetta - $797,500 – Record for the model at auction
Lot 134 – 1955 Maserati A6G/2000 Spyder - $4,455,000 - Record for a Maserati A6G/2000 Spyder at auction
Lot 138 – 1966 Jaguar E-Type Series I 4.2-Litre Roadster - $467,500 - Record for Jaguar E-type (non-competition model) at auction
Lot 141 – 1964 Ferrari 250 LM - $14,300,000 – Record for a Ferrari 250 LM at auction

Art of the Automobile follows a stunning three day exhibition in Sotheby's 10th floor gallery, which also featured a fascinating symposium presented to in excess of 700 guests on Tuesday evening. The sale caps off a record-setting year for RM Auctions, which included a $125 million sale in Monterey, California in August - the highest grossing collector car auction in history. RM Auctions will kick off its 2014 auction calendar at the beautiful Arizona Biltmore Resort & Spa in Phoenix, January 16 - 17. RM's 15th annual Arizona sale is closely followed by the company's debut Paris sale, February 5, during the world-famous Retromobile week. Full details for upcoming events are available online at Classic Car Auctions | RM AUCTIONS | Offering the World's Finest.

Source RM Auctions via Autoblog.com

 

These record setting numbers are always incredible to see. The one that really caught my eye was the 300SL gullwing and roadster going for well over $1 million. I thought clean ones would cap at about $800k. Interesting to follow the market on these beautiful pieces of art.

 

A Ferrari 250 LM always will be expensive.