Media Release


$1.1 MILLION CHAPPARAL 1 RACE CAR TOPS RM AUCTIONS’ 2004 MONTEREY SPORTS AND CLASSIC CAR AUCTION

The Monterey Sports and Classic Car Auction

Record Turnout at Event Leads to Sales Totals of Over $17 Million, including more than $2.4 Million for 10 Significant Shelby Cobras and Mustangs

BLENHEIM, Ontario, Canada (August 14, 2004) – A rare 1961 Chapparal 1 Race Car sold for more than $1.1 million at RM Auctions’ annual Monterey Sports and Classic Car Auction, held August 13th & 14th at the Portola Plaza Hotel in Monterey, CA. The entire sales for the event topped over $17 million with close to a 90% sales rate.

“We were extremely pleased with the weekend’s sales and our overall sales rate,” says Rob Myers of RM Auctions. “This is a great indicator that the collector car market is still strong and points to the continuous growth of the entire hobby.

Created by Texas race car driver Jim Hall, the first edition Chaparral 1 is one of only five first edition Chaparrals ever constructed and is the cornerstone of the famous Chaparral Racing dynasty. The million-dollar plus sales figure for the Chaparral marked the third straight year RM’s Monterey Auction featured a seven-figure hammer price.

Collectors also bid vigorously on the most significant offering of Shelby cars sold at auction in history, with the mix of 10 Cobras and Shelby Mustangs selling for a combined total of more than $2.4 million. Legendary Builder Carroll Shelby was on hand to witness the sale of ten of his finest creations.

Following the Shelby sales at the event, a Shelby autographed auction poster was sold for $35,000. This figure was matched by RM Auctions with the total amount of $70,000 going to benefit the Carroll Shelby Children’s FoundationÔ -- an organization dedicated to providing financial assistance to children around the world in need of acute coronary and kidney care.

In addition to the Chaparral and Shelby cars, other notable sales included:

  • 1952 Ferrari 225 Sport Spyder – an important Scuderi Ferrari Factory Team Car built for racing the Targa Florio ($995,000)

  • 1953 Ferrari 166/250 MM Competition Spyder - an extremely rare Ferrari, with one-off coachwork by Carlo Abarth, had been impeccably restored to its authentic condition after nearly 50 years in hibernation. ($847,000)

  • 1955 Mercedes-Benz 300 SL Alloy Gullwing – a impeccably restored example of this most desirable of Mercedes models complete with a great history and provenance. One of 29 custom alloy-bodied cars built. ($770,000)

    The 10 unparalleled Shelby Mustangs and Cobras were led across the auction block by the first 2004 Shelby-AC Cars FIA Cobra produced since 1968. This continuation Cobra, an official replica of a ‘60s-era Shelby FIA racer, was driven to the stage by legendary builder Carroll Shelby, who watched as it sold for $148,500. Other notable Shelby sales were a 1966 Cobra Competition car ($627,000) and a 1966 Cobra Dragonsnake Race Car ($484,000).

    In addition to the spectacular cars, RM Auctions in conjunction with Julien Entertainment Company, hosted a two-day “Entertainment Legends” sale containing hundreds of personal artifacts and memorabilia from Hollywood stars, music industry legends, and international celebrities, including an autographed invitation to the 1964 Beatles' film, "A Hard Day's Night” ($24,000), the Grammy Award presented to the Eagles for their 1976 record, "Hotel California," ($18,800), and an invitation to the Playboy Mansion Halloween Party ($12,000) among other items from Hugh Hefner.

    Recently, RM Auctions’ annual Vintage Motor Cars at Meadow Brook Hall sale, hosted in conjunction with the world-renown Meadow Brook Concours in Rochester, Michigan, posted a total of more than $6.5 million in sales in just five hours, an astounding average of more than $1 million per hour. Topping the sales chart at Meadow Brook was a 1934 Packard Twelve Convertible Victoria for $1,045,000 and a 1929 Duesenberg Convertible Berline for $660,000.

    Beginning October 15th, RM Auctions will host a sale of the collection from the S. Ray Miller Museum in Elkhart, Indiana, which includes a 1930 Duesenberg originally owned by Al Capone’s lawyer. Everything in the museum will be sold, including 40 classic autos, an array of automobilia, petroliana collectibles, signs, historical auto artifacts, jukeboxes, clocks, artwork and period clothing from the golden age of the automobile.

    Bidder registration for the three-day sale held on the S. Ray Miller Museum grounds at 2130 Middlebury Street in Elkhart is $100 and includes a full-color auction catalog and admission for two. Catalogs are also available separately for $60, (including admission for two). Registration, catalogs and addition information are available at 800-211-4371 or on the company web site below.

    RM Auctions, Inc. is the leader in the North American investment-grade collector car auction market. Worldwide RM Auctions was recognized by Catalogo Bolaffi, an Italian-based catalog that tracks classic auto auction sales worldwide, for selling the top five autos based on final hammer prices in 2002/2003 and six of the top ten. For additional information on RM Auctions Inc., please call (800) 211-4371 or visit the company web site at: www.rmauctions.com

  • Alexander Weaver

    aweaver@rmsothebys.com

    +1 864 313 6844
    California, United States

    Alexander Weaver joined RM Sotheby’s in 2011 as a Car Specialist after graduating from Furman University in South Carolina. Born... read more

    Augustin Sabatié-Garat

    asabatie-garat@rmsothebys.com

    +44 (0) 74 1511 4179
    United Kingdom

    Augustin Sabatié-Garat joined RM Europe in 2012 as a Car Specialist after more than a decade in the collector car hobby. Gradua... read more

    Barney Ruprecht

    bruprecht@rmsothebys.com

    +1 203 912 7168
    Ontario, Canada

    Barney’s interest in classic cars began at an early age after being introduced to his father’s all-original 1965 Porsche 911. Barney l... read more

    David Swig

    dswig@rmsothebys.com

    +1 415 302 2247
    California, United States

    David Swig joined RM Sotheby’s West Coast division as a Car Specialist in May 2015. David is a life-long automobile enthusi... read more

    Don Rose

    drose@rmsothebys.com

    +1 617 513 0388
    United States

    Don joined RM in 2006 after several years of professionally trading sports and classic cars, and after earning a reputation as a noted... read more

    Donnie Gould

    dgould@rmsothebys.com

    +1 954 566 2209
    Florida, United States

    Donnie Gould joined the RM team in 2002 as a partner and Car Specialist after more than two decades in the vintage automobile auction ... read more

    Gord Duff

    gduff@rmsothebys.com

    +1 519 352 4575
    Ontario, Canada

    Gord Duff began his journey with RM Sotheby’s in 1998. Since then, he has gained an intimate knowledge of a variety of marques a... read more

    Jake Auerbach

    jauerbach@rmsothebys.com

    +1 310 559 4575
    California, United States

    Jake Auerbach got his start in the automotive industry at an early age, spending his summers during high school working at a classic c... read more

    Kurt Forry

    kforry@rmsothebys.com

    +1 717 623 1638
    California, United States

    Having worked for Bonhams’ Automobilia department for over 10 years, Kurt Forry joined RM Sotheby’s with more than a decad... read more

    Matt Malamut

    mmalamut@rmsothebys.com

    +1 805 231 6410
    California, United States

    A long-time car enthusiast and Southern California native, Matt studied Automotive Technology at San Diego Miramar College and complet... read more

    Michael Squire

    msquire@rmsothebys.com

    +44 (0) 20 7851 7070
    United Kingdom

    Michael Squire joined RM Sotheby’s European Division in the summer of 2016. He comes to RM with a prestigious racing background ... read more

    Mike Fairbairn

    mfairbairn@rmsothebys.com

    +1 519 352 4575
    Ontario, Canada

    As one of the three founding partners of RM Sotheby’s, Mike has a long-standing interest in the classic car industry. Graduating... read more

    Oliver Camelin

    ocamelin@rmsothebys.com

    +44 (0) 75 0110 7447
    United Kingdom

    With an extensive background in exotic sports car history and sales, a particular passion for American curves, and fluency in three la... read more

    Paul Darvill

    pdarvill@rmsothebys.com

    +44 (0) 20 7851 7070
    United Kingdom

    Paul Darvill joined the RM Sotheby’s European team at the beginning of 2015. Paul holds a degree in French and Politics from the... read more

    Pete Fisher

    pfisher@rmsothebys.com

    +1 519 784 9300
    Ontario, Canada

    Pete Fisher was first introduced to antique cars in high school, working for Classic Coachworks in his hometown of Blenheim, Ontario. ... read more

    Shelby Myers

    smyers@rmsothebys.com

    +1 310 559 4575
    California, United States

    Shelby Myers grew up with the classic car industry infused into every aspect of his life. He had the unique opportunity to watch the R... read more

    Tonnie Van der Velden

    tvandervelden@rmsothebys.com

    +31 653 84 19 60
    United Kingdom

    Tonnie Van der Velden joined RM Sotheby’s European division in September 2015 as a Car Specialist. A lifelong enthusiast, Tonnie... read more