VIDEO & GALLERY: RM Sotheby’s Sets Collector Car Auction Benchmark at $172.9 Million

Aug 20, 2015

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RM Sotheby’s generated $172.9 million in auction and post-auction private sales during its three-day Monterey, California event last week. The tally ranks the event as the highest grossing collector car auction of all time, besting the company’s 2014 Monterey performance by more than 20 percent, according to RM Sotheby’s.

In addition to posting the top auction sales of the week, the RM team clinched its sixth ‘Best of Show’ win at the Pebble Beach Concours d’Elegance, with the spectacular 1924 Isotta Fraschini Tipo 8A F. Ramseier & Cie Worblaufen Cabriolet, owned by The Patterson Collection and freshly restored by RM Auto Restoration, according to the company.

Bidders from 31 countries were drawn to the RM offering, with multiple bidding contests between those in the room and on the telephone, including collectors bidding with Sotheby’s representatives. No less than 36 lots achieved million-dollar-plus results, with four lots exceeding $10 million. In total, RM Sotheby’s was responsible for six of the top 10 sales of the Monterey Car Week, including the top sale: a historic 1964 Ferrari 250 LM, which garnered $17.6 million, a new auction record for the model, according to RM Sotheby’s

The Pinnacle Portfolio

The Pinnacle Portfolio—a private collection of 25 post-war sports cars—was offered Aug. 13 and realized $75.4 million in auction and post-auction private sales to set a new record for a single-day, single-vendor automobile auction, according to RM Sotheby’s.

In addition to the sale-topping Ferrari 250 LM, the group was highlighted by strong results for contemporary supercars, led by the iconic 1998 McLaren F1 ‘LM-Specification’ at $13.75 million, setting a record as the most valuable British car sold at auction, according to RM Sotheby’s One of the sale’s most exciting moments came when the 2005 Ferrari Enzo, originally gifted by the factory to Pope John Paul II, more than tripled the previous record for the model at $6.05 million.

Additional Highlights

Multiple new auction benchmarks were set during the course of RM’s three-day Monterey event. Among highlights, the 1953 Jaguar C-Type Works Lightweight realized $13.2 million to become the most valuable Jaguar sold at auction, while the 1956 Ferrari 250 GT Berlinetta Competizione ‘Tour de France’ also achieved a world record $13.2 million, according to RM Sotheby’s

RM Sotheby’s Top 10 Sales: 

1964 Ferrari 250 LM – $17,600,000

1998 McLaren F1 ‘LM-Specification’ – $13,750,000

1953 Jaguar C-Type Works Lightweight – $13,200,000

1956 Ferrari 250 GT Berlinetta Competizione ‘Tour de France’ – $13,200,000

1959 Ferrari 250 GT LWB California Spider – $8,500,000

1950 Ferrari 275S/340 America Barchetta- $7,975,000

2005 Ferrari Enzo – $6,050,000

1931 Bentley 4½-Litre Supercharged Two-Seater Sports – $4,015,000

1966 Ferrari 275 GTB/6C Alloy – $3,960,000

1994 Ferrari F40 LM – $3,300,000 (Tie)

1967 Ferrari 275 GTB/4 – $3,300,000 (Tie)