26 March 2012

Auctions America's Ft. Lauderdale results

Auctions America, the RM Auctions subsidiary that was created in 2010, held its 10th annual Ft. Lauderdale auction on March 16, 2012, in Florida. Results were slightly lower than last year, but still reflective of a healthy market. In all, 68% of 553 automotive lots sold for a $16.6m total, including buyer’s premium. This number was slightly lower than last year’s $17m, but above 2010’s $16.3m.

The top sale was a 1933 Chrysler CL LeBaron Phaeton that earned $341,000, which landed it right in the middle of the pre-sale estimates. A 1970 Chevelle LS6 convertible changed hands for $198,000, serving as further proof that the high end of the muscle market continues to firm up. The auction also saw a bevy of microcars, most of which drew lots of interest and strong bidding.

The top five automotive lots for the sale were:

  1. 1933 Chrysler CL Phaeton sold for $341,000
  2. 1970 Chevrolet Chevelle LS6 convertible sold for $198,000
  3. 2011 Mercedes-Benz SLS AMG sold for $178,200
  4. 1953 Chevrolet Corvette sold for $176,000
  5. 2006 Ford GT sold for $171,600

The 25-Corvette Tony Parella Collection was a major consignment for the event, and the cars sold for just under $1.5m. The $198,000 1953 Corvette landed lower than recent sales (i.e., Arizona sales of $467,500 and $445,000 by Russo and Steele and RM Auctions, respectively), but still well ahead at the low end of the pre-sale estimate. A rare black 1954 Corvette also received good money at $80,300.

Auctions America’s next sale will be held in Carlisle, Penn., April 26-27, 2012.

Brian Rabold is editor of Hagerty Price Guide.

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