RM Auctions, Portola Hotel, Monterey, California, August 17-18, 2012
Report and photos by Rick Carey, Auction Editor
RM scored two of the epic transactions in Monterey this year. The first was the Mirage/Ford GT40 for a cool $10 million hammer, $11 million with commission, a Friday evening result that reset expectations across the Monterey auction blocks by vastly exceeding it $7.4 million reserve in a bidding contest between two bidders in the Convention Center. Many necks were stiff and sore on Saturday morning after twisting and craning trying to make out who the bidders were, a question that is still unresolved for most.
The other was less momentous in dollars but if anything even more exceptional, the ‘Chairs and Flares’ 246 GTS Dino that brought $425,000 hammer, $467,500 with commission, also Friday evening. While Mirage/Ford GT40 values are subject to a large discretionary range based on many subtle, subjective factors, 246 GTS Dinos are (and were in the Monterey auctions) everywhere, with plenty built and most surviving. For one to sell for 41.7% over its low estimate – probably 50% over its reserve – was unprecedented.
Those weren’t the only exceptional results at RM, but they contribute to imparting the flavor of the two day sale.
There were a lot, I mean a lot, of cars at Monterey and it takes a while to compile them all for presentation on Sports Car Digest. We’ve taken the expedient course of presenting then in two tranches as batches of cars in various auctions are completed. This is the first group of RM cars and the rest will be added soon.
The numbers for the RM Auctions Monterey 2012 sale are presented below; the overall stats for the other Monterey auctions can be found here.