2 November 2012

Auction Results: RM’s London sale

RM’s annual London auction is the company’s flagship European event, and typically the auction house’s biggest annual one-day draw. This year was no exception, as the RM team assembled a remarkable collection of vehicles for its Oct. 31, 2012, sale, held at Battersea Evolution. In all, 79 of 94 cars and motorcycles were sold (84%) for $23.0M — an 8% increase over last year.

For the second year in a row, the top seller was a Ferrari 250 GT TdF, this time a 1959 single-vent LWB model with open headlights rather than the 1958LWB single-vent example with covered headlights that topped the sale in 2011. The restored example sold for a $3.165M, including commission, which was more than $750,000 above the high estimate. The sale’s star car was a 1955 Mercedes-Benz 300SL alloy Gullwing, one of only 29 built, that just missed selling at a high bid of $3.876M. With commission added, the final price would have totaled $4.341M, or a little less than the $300,000 below the world record set last January, but that ultimately wasn’t enough to set the car free.

Other interesting sales included a 1990 Aston Martin V8 Vantage Volante, equipped with the rare high-performance X Pack. The car garnered much interest on the block and sold for $253,232. A less-than-perfect 1961 Ferrari 250 GTE 2+2 changed hands at $226,100, well above current market price. A gorgeous 1975 Jensen Interceptor convertible traded at a very strong $99,484, again illustrating how much more British buyers value the Interceptor when compared to American bidders. Lastly, 11 1950s and early 1960s American cars from the Dutch Zegwaard collection all sold, mostly for surprisingly strong prices, given the venue.

Top 10:

  1. 1959 Ferrari 250 GT LWB TdF Berlinetta sold for $3,165,400
  2. 1930 Alfa Romeo 6C 1750 GS Testa Fissa sold for $1,266,160
  3. 1964 Aston Martin DB5 convertible (ex-Paul McCartney) sold for $1,021,972
  4. 1937 Bugatti Type 57C Stelvio Cabriolet sold for $994,840
  5. 2008 Bugatti Veyron 16.4 coupe sold for $936,054
  6. 1952 Bentley Continental R-Type fastback sports saloon sold for $859,180
  7. 1957 Mercedes-Benz 300SL roadster sold for $723,520
  8. 1998 Ferrari F300 Formula One racing car sold for $646,000
  9. 1970 Lamborghini Miura P400S coupe sold for $642,124
  10. 1964 Aston Martin DB5 saloon sold for $556,206

RM’s next sale is a one-off auction of the John Staluppi Collection held in North Palm Beach, Fla., Dec. 1, 2012. More than 120 American cars will be offered without reserve.

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