The RM Auctions Monterey 2012 auction was held August 17–18 at the Portola Hotel in Monterey, California, resulting in $95.2 million in total sales and an 88% sell-through rate. The results represent the highest individual auction tally in RM’s history and an almost 20% increase on last year’s record sale.
The 27th annual RM Monterey auction featured 119 cars, with 20 automobiles achieving prices over $1 million and five lots breaking the $5 million barrier. Top sale went to the 1968 Ford GT40 Gulf/Mirage that sold for $11,000,000, a new world record for an American automobile sold at auction. Chassis P/1074, the first, by serial number, of several lightweight GT40s built for the J.W.A./Gulf team, was 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.
Other headline sales included the 1962 Ferrari 250 GT SWB California Spyder, chassis 3319 GT, that fetched $8,580,000, the 1955 Ferrari 410 S, chassis 0594 CM, which set a new world record for a closed Ferrari at $8,250,000, the 1956 Ferrari 250 GT LWB Berlinetta Tour de France, chassis 0585 GT, that brought $6,710,000 and the Pebble Beach Best of Show-winning 1938 Horch 853A Special Roadster that achieved $5,170,000.
“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.”
Further sales of note at the 2012 RM Monterey auction included the 1974 Ferrari Dino 246 GTS ‘Chairs and Flares’ that achieved a world record price of $467,500; the time capsule 1989 Ferrari Testarossa that also entered the history books, doubling its pre-sale estimate to sell for a world record $264,000; the 1960 Aston Martin DB4GT, the fourth DB4GT produced, which 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 $1,622,500; and the original 1965 Shelby 289 Cobra Mk II, just one lady owner from new, surpassed its pre-sale estimate, selling for $792,000.
“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,” added 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,” continued Myers.
RM Auctions offered 119 automobiles for sale, with 105 finding a new owner, reflecting a 88% sell-through rate. Total sales volume was $95,274,150, inclusive of buyer’s premiums. The average price per car sold was $907,373. In 2011, RM Auctions offered 144 automobiles for sale, with 123 finding a new owner, reflecting a 85% sell-through rate. Total sales volume was $78,192,700, inclusive of buyer’s premiums. The average price per car sold was $635,713.
RM Auctions Monterey 2012 – Top 20 Auction Results
1. 1968 Ford GT40 Gulf/Mirage Lightweight Racing Car – $11,000,000
2. 1962 Ferrari 250 GT SWB California Spyder – $8,580,000
3. 1955 Ferrari 410 S Berlinetta – $8,250,000
4. 1956 Ferrari 250 GT LWB Berlinetta Tour de France – $6,710,000
5. 1938 Horch 853A Special Roadster – $5,170,000
6. 1955 Aston Martin DB3S Sports Racing Car – $3,685,000
7. 1967 Ford GT40 Mark I – $2,860,000
8. 1938 Talbot-Lago T23 Teardrop Coupe – $2,640,000
9. 2001 Bentley Speed 8 Le Mans Prototype Racing Car – $2,530,000
10. 1960 Aston Martin DB4GT – $2,035,000.00
11. 1929 Duesenberg Model J Disappearing Top Convertible Coupe – $1,897,500
12. 1953 Bentley Continental R-Type Fastback Sports Saloon – $1,622,500
13. 1967 Ferrari 275 GTB/4 Berlinetta – $1,485,000
14. 1967 Ferrari 275 GTB/4 Competizione Speciale – $1,485,000
15. 1965 Shelby 427 Competition Cobra – $1,485,000
16. 1964 Shelby 289 Competition Cobra – $1,320,000
17. 1965 Ferrari 275 GTB – $1,182,500
18. 1955 Mercedes-Benz 300SL Gullwing – $1,171,500
19. 1998 Mercedes-Benz CLK GTR – $1,100,000
20. 2001 Audi R8 Le Mans Prototype Racing Car – $1,034,000
RM Auctions Monterey 2012 – Video Recap
The company’s restoration division, RM Auto Restoration, continued its track record on the show field at the Pebble Beach Concours d’Elegance, 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 more information, visit www.rmauctions.com.
[Source: RM Auctions]