RM Auctions Raises The Bar With More Than $143 Million In Sales In Monterey - WFXG FOX54 Augusta - Your News One Hour Earlier

RM Auctions Raises The Bar With More Than $143 Million In Sales In Monterey

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SOURCE RM Auctions

BLENHEIM, Ontario, Aug. 19, 2014 /PRNewswire/ -- RM Auctions celebrated its 35th anniversary on the weekend with its best performance to date: $143.4 million, with a strong 91 percent sell-through at its flagship California sale. The event ranks as the highest grossing collector car auction of all time, and also established a new benchmark for a single-day collector car auction, realizing more than $88 million during just four hours on Saturday.

RM's results were generated by the sale of 118 'best of category' automobiles before a packed house. Highlighted by its exceptional quality, the offering commanded the attention of the world's most discerning collectors, with bidders representing 29 countries. Thirty-five automobiles achieved million-dollar-plus results, with three lots exceeding $10 million.

"From start to finish, this year's sale was defined by its incredible quality. The high-caliber of entries generated strong interest and made for an incredibly exciting auction," said Ian Kelleher, RM Auctions. "The atmosphere was electric with numerous spirited bidding contests, strong prices recorded across all categories, and a number of new benchmarks set."

Ferraris dominated the top sales headlined by a 1964 Ferrari 275 GTB/C Speciale; combining looks, rarity and performance, bidding opened at $15 million, climbing to an outstanding $26,400,000 to cement the car's place in the history books as one of the most valuable automobiles ever sold at public auction (http://bit.ly/montereyFerrari275GTBCSpeciale). Other sale-topping Ferraris included a 1964 Ferrari 250 LM for $11,550,000 (http://bit.ly/monterey250LMsale), and the ex-Steve McQueen 1967 Ferrari 275 GTB/4, which sparked a fierce bidding war, selling for $10,175,000, more than triple the previous record for the model (http://bit.ly/montereyMcQueenSale).

Additional highlights included the Austie Clark 1911 Mercer Type 35R Raceabout for $2,530,000, a record for a Mercer sold at auction, and a 1955 Mercedes-Benz 300 SL, which achieved the same price to set a new record for a non-alloy Gullwing. The sale also illustrated growing demand for Japanese collector cars with a 1972 Nissan Skyline H/T 2000GT-R 'Hakosuka' exceeding estimate at $242,000, and a 1967 Toyota 2000GT achieving $1,045,000.

About RM Auctions
RM Auctions is the world's largest auction house for investment-quality vehicles. RM's vertically integrated range of services, from restoration to private treaty, auctions and estate planning, coupled with an expert team of specialists and international footprint, provide an unsurpassed level of service to the global collector car market. www.rmauctions.com

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