RM Auctions: Pair of Majestic Duesenbergs Top RM’s $10.7 Million Hershey Sale
· RM Auctions generates $10.7 million in sales with 95 percent of all lots sold at its Hershey, Pennsylvania auction
· Top sales honors go to a pair of historic Duesenbergs from the distinguished Ray Bowersox Collection
· Pair of Packards – one magnificently restored and one in unmolested, original condition – also attract significant interest, well-exceeding pre-sale estimates
· Auction draws international audience, with bidders representing 17 countries around the world
· RM continues its busy fall calendar of events October 20 with the Charlie Thomas Collection in Dallas, Texas, closely followed by the company’s central London sale, October 31
BLENHEIM, Ontario – RM Auctions, the world’s largest collector car auction house for investment-quality automobiles, continued its strong track record in Hershey, Pennsylvania last week (October 11–12), generating more than $10.7 million in total sales with a remarkable 95 percent of all lots sold at its annual sale held during the AACA Eastern Regional Fall Meet.
Highlighted by a magnificent series of Brass and Classic Era automobiles, the two-day sale saw approximately 120 automobiles, joined by a selection of vintage motorcycles and memorabilia, cross the auction podium before a packed house. The standing-room only audience was joined by bidders on the phone and via the Internet, resulting in numerous, spirited bidding wars. Reflecting RM’s international clientele, bidders hailed from 17 countries around the world, including as far away as Germany, Israel, and New Zealand.
“We are very pleased with the results and strong global interest received in this year’s Hershey sale,” says Rob Myers, Chairman & Founder, RM Auctions. “With many lots offered fresh to the market, collectors recognized the wide range of exclusive ownership opportunities the sale presented, as illustrated by strong bidder registrations and numerous, lively bidding contests. Almost 25 percent of bidders represented first time clientele, with bidder registrations well-surpassing levels enjoyed at our 2011 sale. We look forward to continuing the momentum at our upcoming Charlie Thomas and London auctions later this month.”
American classics were the toast of RM’s 2012 Hershey auction, with a pair of majestic Duesenbergs, each offered fresh to the market from the distinguished Ray Bowersox Collection, claiming top sales honors. Rolling onto the stage to great applause from the crowd, the star lot of the weekend, an exceptional 1931 Duesenberg Model J Dual Windshield ‘Barrelside’ Phaeton by LeBaron, J299, attracted spirited bidding in the room and on the phones, eventually selling for an impressive $1,292,500. One of just seven examples built and of six known survivors, the famous J299—an esteemed part of the Bowersox Collection since 1985—was the winner of the epic 1932 “celebrity” race at Lake Muroc against the Marx brothers’ Mercedes-Benz, a spectacular provenance pronounced as being almost as “valuable as the car itself” by auctioneer Max Girardo. Also from the Bowersox Collection, and garnering strong interest from collectors, was a supremely elegant 1929 Duesenberg Model J Sport Sedan, J139, with coachwork by the Walter M. Murphy Company. Offered for the first time since 1979, the handsome Model J, one of only two sporting examples, realized $792,000.
Additional sale highlights included a pair of Packards, which drew enthusiastic bidding to achieve strong auction prices and illustrated continued demand for both restored and unrestored automobiles. Magnificently presented, a luxurious, concours-quality 1933 Packard Twelve Convertible Coupe, the recipient of a recent 100-point restoration, exceeded its pre-sale estimate to bring $451,000. In contrast to the magnificently restored vehicle, another Packard from the same model year—an outstanding, original 1933 Packard Twelve Convertible Coupe—sparked one of the sale’s most intense and exciting bidding wars, selling for an extraordinary $357,500, more than double its pre-sale estimate. Also well-exceeding its pre-sale estimate was a magnificently ornate 1894 Silsby Fourth Size Horse-Drawn Steam Pumper, which sold for $396,000
RM Hershey Top Five Sales:
1. 1931 Duesenberg Model J Dual Windshield ‘Barrelside’ Phaeton – $1,292,500
2. 1929 Duesenberg Model J Sport Sedan – $792,000
3. 1933 Packard Twelve Convertible Coupe – $451,000
4. 1894 Silsby Fourth Size Horse-Drawn Steam Pumper – $396,000
5. 1933 Packard Twelve Convertible Victoria – $357,500
RM continues its busy fall calendar of events with the presentation of the respected Charlie Thomas Collection near Dallas, Texas, October 20. Continuing RM’s reputation as the specialist for private and estate collection sales, the single-day, single-vendor auction later this week will present 175 quality collector cars without reserve, selling to the highest bidder. RM will then conclude the month with its highly anticipated central London sale, October 31, with a spectacular roster of 90 automobiles and two motorcycles poised to go under the gavel at Battersea Evolution.
Further information on the Charlie Thomas Collection and London sales, including complete digital catalogues, along with full results from last week’s Hershey sale, are available online at rmauctions.com.
Top: 1931 Duesenberg Model J Dual Windshield ‘Barrelside’ Phaeton and 1929 Duesenberg Model J Sport Sedan, photo credit 2012 (c) Eugene Robertson courtesy of RM Auctions
Second: 1933 Packard Twelve Convertible Coupe and 1933 Packard Twelve Convertible Victoria, photo credit 2012 (c) Eugene Robertson courtesy of RM Auctions
About RM Auctions
RM Auctions is the world’s largest auction house for quality automobiles. With over three decades of experience in the collector car industry, RM’s vertically integrated range of services, from restoration to private treaty sales, auctions, estate planning, and financial services, coupled with an expert team of car specialists and an international footprint, provides an unsurpassed level of service to the global collector car market. RM proudly holds five of the top 10 all-time records for the most expensive motor cars sold at auction. RM’s restoration division has achieved unprecedented accolades earning Best of Show honors at the world’s top concours events, including four Best of Show awards at the prestigious Pebble Beach Concours d’Elegance. For further information, visit www.rmauctions.com, find us on Facebook, or follow us on Twitter @rmauctions.
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Source: RM Auctions