RM Auctions: RM Tops 2011 Pebble Beach Auction Results with Record $80* Million in Sales
– RM’s 2011 Monterey auction posts $80* million in sales with a strong 88% sell-through
– 14 cars achieve individual million-dollar-plus sale results
– Two-day sale establishes numerous new auction records including highest grossing single-day collector car auction with over $60.5 million generated during Saturday’s sale session
– Top-sellers: 1937 Mercedes-Benz 540 K Spezial Roadster achieves $9,680,000; and 1960 Ferrari 250 GT SWB Berlinetta Competizione brings $5,280,000
– Iconic 1970 Porsche 911s formerly owned by the ‘King of Cool’ Steve McQueen and featured in the epic film ‘Le Mans’ realizes $1,375,000
BLENHEIM, Ontario – RM Auctions confirmed its standing as the world’s leading collector car auction house for investment-quality automobiles on the weekend, posting the highest auction results of this year’s famed Pebble Beach motoring week with a record $80,142,000* in total sales, including a select series of private after sales, and 88% of all lots sold.
The impressive results tally – up from $67 million in 2010 – represents the highest auction results ever achieved during the Monterey classic car week and includes 14 individual million-dollar-plus sale results. In addition, the sale established a number of new auction records, including that for the highest dollar single-day collector car auction in history** with over $60.5 million in sales generated during RM’s Saturday sale session on August 20.
Additional records included the sale of an exceptional 1937 Mercedes-Benz 540 K Spezial Roadster, chassis number 154140 (pictured top), which achieved a final sales price of $9,680,000 to establish a new world record for a Mercedes-Benz sold at auction; along with the 1970 Porsche 911s formerly owned by the ‘King of Cool’ Steve McQueen and featured in his epic Hollywood film Le Mans, which set a new auction record for a 911, realizing $1,375,000. The sale of the 911s on Friday represented RM’s 200th million-dollar-plus automobile sold at auction.
Also entering the history books was the 1958 BMW 507 Roadster, formerly owned by first ‘Bond’ girl, Ursula Andress with its record-setting sales price of $1,072,500; and the c.1899 Columbia Electric Landaulet, which more than doubled its pre-sale estimate, selling for $550,000 – a record price for an electric car sold at auction.
“We are thrilled with the results from our Monterey sale on the weekend, which not only reflect our biggest Monterey sale to date, but also a vibrant market and continued interest and enthusiasm in the hobby from around the world,” says Rob Myers, Chairman & Founder, RM Auctions.
“Illustrating RM’s global clientele, bidders represented 20 countries, including as far away as Argentina, the United Arab Emirates and Japan, with those in the room joined by bidders on the phone and over the Internet. We look forward to continuing the momentum at our annual Hershey, Pennsylvania and London, England events in October,” adds Myers.
In celebration of Mercedes-Benz’s 125th anniversary, the sale featured the most important collection of historic Mercedes-Benz vehicles ever presented at public auction – an offering that generated strong interest among discerning collectors and spirited bidding. In addition to the sale-topping 1937 Mercedes-Benz 540 K Spezial Roadster, also on offer were four other supercharged eight-cylinder Mercedes from the 1930s, each inspected by veteran experts from Mercedes-Benz Classic in Germany prior to the sale, and each fetching multi-million-dollar results.
“RM Auctions was honored to join forces with Mercedes-Benz in Monterey this year for what was an unprecedented sale of Mercedes-Benz automobiles and a great celebration of the marque’s rich heritage. The results, including the record-setting Mercedes-Benz 540 K Spezial Roadster sale, speak for themselves and reflect the incredible quality of the motor cars presented. We are grateful in particular to Mercedes-Benz Classic in Germany for their assistance in inspecting the vehicles prior to the sale,” added Myers.
Continuing RM’s reputation as the specialists for private and estate collections, additional sale highlights included the presentation of a select group of motor cars from the distinguished Lyon Family Collection. Collectors recognized the incredible quality and condition of these select automobiles, as illustrated by the strong prices realized.
RM Auctions’ 2011 Monterey Million-Dollar-Plus Sales:
Lot 148 –1970 Porsche 911S Steve McQueen ‘Le Mans’ Movie Car -$1,375,000
Lot 152 – 1967 Ferrari 275 GTB/4 Berlinetta – $1,485,000
Lot 229 – 1955 Ferrari 750 Monza Spyder – $2,530,000
Lot 232 – 1939 Mercedes-Benz 540 K Spezial Roadster – $4,620,000 (Lyon Family Collection)
Lot 236 – 1936 Mercedes-Benz 540 K Spezial Coupe – $3,080,000 (Lyon Family Collection)
Lot 237 – 1952 Ferrari 340 Mexico Berlinetta – $3,685,000
Lot 238 – 1958 BMW 507 Roadster – $1,072,500 (Lyon Family Collection)
Lot 242 – 1937 Mercedes-Benz 540 K Spezial Roadster – $9,680,000
Lot 244 – 1960 Ferrari 250 GT SWB Berlinetta Competizione – $5,280,000
Lot 247 – 1935 Mercedes-Benz 500 K Roadster – $3,767,500 (Lyon Family Collection)
Lot 248 – 1953 Ferrari 375 America Coupe – $1,980,000
Lot 249 – 1936 Mercedes-Benz 540 K Sport Cabriolet A – $2,970,000
Lot 251 – 1924 Mercedes-Benz 28/95 Sport Phaeton – $1,017,500
Lot 252 – 1962 Ferrari 400 Superamerica Coupe – $2,090,000
In addition to RM’s strong auction performance, the company’s restoration division also enjoyed success on the show field at the Pebble Beach Concours d’Elegance on Sunday, with the 1938 Talbot-Lago T150-C Figoni et Falaschi Coupé owned by Richard Stephens of Auburn, California, judged ‘Best in Class’ and a ‘Best of Show Nominee’, and the 1960 Plymouth XNR Ghia Roadster, owned by Kareem Edde from Beirut, Lebanon, judged ‘Third in Class’ and recipient of the coveted ‘Gran Turismo’ award. Other award-winning entries included the 1931 Duesenberg J Packard Roadster, owned by Robert and Brigitte Thayer of Atlanta, Georgia, which was honored with a class award, along with the 1933 Cadillac 452 C Fleetwood Imperial Sedan, owned by Michael & Wendy Fairbairn of Ontario, Canada; and, the 1938 Mercedes-Benz 540 K Sports Tourer owned by William Parfet of Hickory Corners, Michigan. As a special feature, the concours also included the unveiling of Edsel Ford’s 1934 Model 40 Special Speedster, restored to its timeless elegance by RM’s award-winning restoration team for Edsel & Eleanor Ford House.
RM Auctions continues its 2011 calendar in Hershey, Pennsylvania on October 6-7, 2011, closely followed by its annual London, UK sale at Battersea Evolution, October 26, 2011. For further information on upcoming events along with complete official results from RM’s 2011 Monterey sale, please visit www.rmauctions.com.
* The $80 million sales total and 88% sell-through rate includes a number of private after sales completed following the sale
** RM Auctions set the record for the most successful motor car auction in May 2007 at the Ferrari factory in Maranello, achieving $46 million in total sales.
*** All figures are reported in U.S. dollars and include the 10 percent buyer’s premium
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Source: RM Auctions