1 February 2012

RM Auctions' Phoenix results

RM Auctions again conducted a very strong sale at the Arizona Biltmore in Phoenix. The January 19-20, auction fell short of 2011’s $31 million total by a little more than $5 million, but the 2012 tally was healthy nonetheless.

Don’t be misled by the gross difference between this year’s sale and last year’s. Even though the $25.7 million result is 20% lower, there were significantly fewer cars on offer (140 vs. 182). In fact, both RM’s average sale price ($203,654) and median sale price ($110,000) were well above 2011’s stats ($178,133 and $88,000, respectively), even if the sales percentage dipped a bit (90% vs. 95%).

Top sale was a 1958 Ferrari 410 Superamerica coupe with coachwork by Scaglietti that sold for $1.815 million. This unusual finned car was last seen at Gooding & Company’s Pebble Beach sale in 2007, where it sold for $1.32m. This increase in value is actually a little behind the SA market in general, which is somewhat surprising given how well one-off models have performed during the past few years.

Other top sales include a restored 1959 BMW 507 equipped with Rudge knock-offs and a non-original motor that hit a now market correct $990,000, and a 1973 Ferrari Daytona Spyder that also earned an as-expected $990,000.

RM looks ahead to a special sale of the Milhous Collection of mechanical musical instruments and collectible automobiles in Boca Raton in February before it turns its attention to the annual Amelia Island sale in March.

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