27 August 2012

RM Auctions Monterey Posts Personal Best

RM Auctions returned to Monterey Aug. 17-18, 2012 and scored the company’s best total ever. In all, 109 cars sold for $95.8 million, topping last year’s $78.2 million and 2010’s $68 million. Twenty cars topped one million dollars, with three more falling short by only $10,000 each. One car even eclipsed the $10 million mark.

The auction’s top sale was a 1968 Ford GT40 Gulf/Mirage coupe that was extensively and successfully campaigned in period. The GT40 also served as the camera car for Steve McQueen’s hit movie Le Mans, and it sold for $11 million, including buyer’s premium. A beautiful 1938 Horch 853A roadster looked well bought at $5.17 million, as did a 1955 Aston Martin DB3S customer car at $3.685 million. Other notable sales included a pair of ultra-low-mile 1989 Ferraris. The first was a Testarossa (129 miles from new) that sold for $264,000; the second was a 328 GTS (105 miles from new) that traded for $159,500—both well above current market price, even for flawless examples.

Ferrari Dinos continue to impress in the market, and RM’s example serves as further evidence of growing interest in these models. A 1974 246 GTS with chairs and flares sold for $467,500, outpacing the Ferrari Daytonas offered during the sale (both were coupes that sold for $396,000 and $363,000). Despite the high prices for so many vehicles, there were several buying opportunities. A 1953 Hudson Hornet sedan with a McQueen connection sold for $61,600, which looks particularly attractive in light of Gooding’s sale of a similar H-Power model for $178,750. A 1961 Lotus Elite sold for $96,250, which was slightly below estimate and also on the safe side of recent movement on this model.

RM’s top 10 sales at Monterey:

  1. 1968 Ford GT40 Gulf/Mirage Coupe sold for $11,000,000
  2. 1962 Ferrari 250 California GT SWB Spyder sold for $8,580,000
  3. 1955 Ferrari 410 S Berlinetta sold for $8,250,000
  4. 1956 Ferrari 250 GT TdF Coupe sold for $6,710,000
  5. 1938 Horch 853A Roadster sold for $5,170,000
  6. 1955 Aston Martin DB3S Roadster sold for $3,685,000
  7. 1967 Ford GT40 Mk I Coupe sold for $2,860,000
  8. 1938 Talbot-Lago T23 Teardrop Coupe sold for $2,640,000
  9. 2001 Bentley Speed 8 Le Mans sold for $2,530,000
  10. 1960 Aston Martin DB4 GT Coupe sold for $2,035,000

Up next for RM is its annual Hershey sale, held in conjunction with the AACA Eastern Division Fall Meet, Oct. 11-12, 2012. Consignments currently include a 1933 Packard Twelve Convertible Victoria in original condition, as well as a 1931 Duesenberg J Dual Windshield “Barrelside” Phaeton.

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