Media Release


RM AUCTIONS POSTS A SPECTACULAR $95 MILLION IN MONTEREY

Monterey

• RM Auctions generates more than $95.7* million in sales, with a strong 89 percent of all lots sold, at its celebrated Monterey, California sale
• 20 cars achieve over $1 million, five of which exceed the $5 million mark
• Two-day sale establishes numerous new auction records, including a new world record for the most expensive American automobile ever sold at auction
• Top-sellers: 1968 Ford GT40 Gulf/Mirage Lightweight Racing Car achieves $11,000,000; 1962 Ferrari 250 GT SWB California Spyder brings $8,580,000
• Full results and exclusive highlights video now available online at rmauctions.com


BLENHEIM, Ontario (August 22, 2012) – RM Auctions, the world’s largest collector car auction house for investment-quality automobiles, continued its strong track record in Monterey, California, on the weekend, realizing a spectacular $95.7 million in total sales*, with a strong 89 percent of all lots sold.

The impressive results represent the highest individual auction tally in RM’s history and, significantly, an almost 20 percent increase on last year’s record $80 million Monterey sale, albeit generated by a smaller offering; this year’s sale featured an elite, handpicked selection of 120 of the world’s finest automobiles compared to 144 motor cars offered at the 2011 sale. Illustrating RM’s expertise in the presentation and marketing of blue-chip automobiles at auction, as many as 20 vehicles realized million-dollar-plus results, with five lots achieving individual prices exceeding $5 million, and numerous new auction records set. Exclusive video highlights from the weekend are available online here: http://bit.ly/Nl5YCH.

We are absolutely delighted with the results from our Monterey sale, which not only reflect our best performance to date but demonstrate the continued strength of the collector car market and high global demand for investment-quality automobiles,” says Rob Myers, Chairman and Founder, RM Auctions. “The sale truly captured the attention of the world’s elite collectors, and the results once again prove that RM continues to set the standard for collector car auctions with its high-caliber consignments, impeccable presentation, unparalleled client service, and accurate estimates provided by our expert team of car specialists. We look forward to continuing the momentum with our upcoming fall auctions in Hershey, Dallas, and London.

The event’s top seller was a 1968 Ford GT40 Gulf/Mirage Lightweight Racing Car, P/1074, achieving a new world record for an American automobile sold at auction with a remarkable sales price of $11,000,000. The first, by serial number, of several lightweight GT40s built for the J.W.A./Gulf team, this exceptional racing car was completed in 1968 and carries an incredible history from new. Finished in the Gulf team colors of Powder Blue with a Marigold stripe, it raced extensively throughout 1968 from Daytona to Le Mans, as well as the Le Mans trials at the hands of Jacky Ickx, before it was sold to Solar Productions in 1970 and used as a camera car in Steve McQueen’s Le Mans. Providing one of many thrilling auction moments across the two-day sale, the GT40 spurred a lively bidding war in the room; its world record price earning a standing ovation from the crowd.

Additional lots surpassing the $5 million mark included a magnificent trio of Ferraris, including a hugely desirable 1962 Ferrari 250 GT SWB California Spyder, chassis 3319 GT, for $8,580,000; an exceptional 1955 Ferrari 410 S Berlinetta, chassis 0594 CM, which set a new world record for a closed Ferrari at $8,250,000; and a coveted 1956 Ferrari 250 GT LWB Berlinetta ‘Tour de France’, chassis 0585 GT, which fetched $6,710,000. Rounding out the group of $5 million-plus sales, the supremely elegant, Pebble Beach ‘Best of Show’ winning 1938 Horch 853A Erdmann & Rossi Special Roadster achieved a strong $5,017,000, to set a new world record for an Horch sold at auction.

The results indicate a particularly strong market for 1950s and 1960s sports and racing cars, with many new records achieved within this category across the Monterey weekend,” adds Shelby Myers, Managing Director, RM California. “Whether this reflects a change in existing collector tastes is unknown, however it certainly shows that interest in makes such as Ferrari, Aston Martin and other post-World War II sports cars is at an all-time high. It is important to note the trend was not only evident in the multi-million-dollar bracket, but ‘best of category’ examples across all levels,” Myers adds.

Other notable auction results include:
• a race bred 1960 Aston Martin DB4GT, the fourth DB4GT produced, exceeded its pre-sale estimate, selling for a strong $2,035,000;
• a 1953 Bentley Continental R-Type Fastback Sports Saloon set a new world record for its model, achieving a superb $1,622,500;
• a highly original 1965 Shelby 289 Cobra Mk II, just one lady owner from new, well-surpassed its pre-sale estimate, selling for $792,000;
• a 1974 Ferrari Dino 246 GTS ‘Chairs and Flares’ attracted fierce bidding, realizing a world record price of $467,500; and
• a perfectly preserved, delivery-mileage 1989 Ferrari Testarossa doubled its pre-sale estimate to enter the history books with a world record price of $264,000.

Reflecting RM’s global clientele, the strong results were generated by registered bidders from 25 different countries on the telephone, over the Internet, and assembled in the standing-room-only venue.

RM Auctions’ 2012 Monterey Million-Dollar-Plus Sales:

Lot 139 1968 Ford GT40 Gulf/Mirage Lightweight Racing Car $11,000,000
Lot 240A 1962 Ferrari 250 GT SWB California Spyder $8,580,000
Lot 117 1955 Ferrari 410 S Berlinetta $8,250,000
Lot 231 1956 Ferrari 250 GT LWB Berlinetta 'Tour de France' $6,710,000
Lot 133 1938 Horch 853A Special Roadster $5,170,000
Lot 214 1955 Aston Martin DB3S Sports Racing Car $3,685,000
Lot 226 1967 Ford GT40 Mark I $2,860,000
Lot 121 1938 Talbot-Lago T23 Teardrop Coupe $2,640,000
Lot 233 2001 Bentley Speed 8 Le Mans Prototype Racing Car $2,530,000
Lot 228 1960 Aston Martin DB4GT $2,035,000
Lot 229 1929 Duesenberg Model J Disappearing Top Convertible Coupe $1,897,500
Lot 212 1953 Bentley Continental R-Type Fastback Sports Saloon $1,622,500
Lot 239 1967 Ferrari 275 GTB/4 Berlinetta $1,485,000
Lot 249 1967 Ferrari 275 GTB/4 'Competizione Speciale' $1,485,000
Lot 114 1965 Shelby 427 Competition Cobra $1,485,000
Lot 240 1964 Shelby 289 Competition Cobra $1,320,000
Lot 221 1965 Ferrari 275 GTB $1,182,500
Lot 250 1955 Mercedes-Benz 300SL 'Gullwing' Coupe $1,171,500
Lot 140 1998 Mercedes-Benz CLK GTR $1,100,000
Lot 137 2001 Audi R8 Le Mans Prototype Racing Car $1,034,000

In addition to RM’s strong auction performance, the company’s restoration division, RM Auto Restoration, continued its track record for excellence on the show field at the Pebble Beach Concours on Sunday, with the 1931 Duesenberg J Derham Tourster owned by Joseph and Margie Cassini, of West Orange, New Jersey, judged ‘Best in Class’ and a ‘Best of Show Nominee’, and the 1937 Talbot-Lago T150C Figoni & Falaschi Cabriolet, owned by The Patterson Collection in Louisville, Kentucky, also receiving ‘Best in Class‘ honors. In addition, a 1930 Cadillac 452 Fleetwood Roadster, owned by Bob and Brigette Thayer of Atlanta, Georgia, and also restored by RM Auto Restoration, was judged second in its class.

RM Auctions continues its 2012 calendar in Hershey, Pennsylvania, October 11–12, 2012, closely followed by the presentation of The Charlie Thomas Collection, October 20, near Dallas, Texas, and its annual London sale at Battersea Evolution, October 31. For further information on upcoming events, along with complete official results from RM’s 2012 Monterey sale, please visit www.rmauctions.com.

*All figures are reported in U.S. dollars and include the 10 percent buyer’s premium

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