Industry News

Scottsdale Bonanza - Report: RM Auctions, Scottsdale

  • Ferrari 166MM Barchetta was the top seller for RM - 0
  • Mercedes-Benz 300SL Gullwing broke auction records. - 1
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RM Auctions makes more than $ 30m at its first sale in 2011.

RM Auctions enjoyed a strong start to its 2011 auction season, posting a record $ 30.8 million in sales at its annual Arizona event, with 96% of lots sold and four automobiles exceeding the magic million dollar mark. Reports of a strengthening top-end market and increased interest in the classic car investment scene have bolstered performance at premium sales, such as this.Held at the prestigious Arizona Biltmore Resort & Spa, the two-day sale was certainly a premium affair. Top seller was a 1949 Ferrari 166MM Barchetta, a matching-numbers Mille Miglia veteran and the 10th of just 25 examples built, which attracted strong interest, achieving $ 1,870,000. Amazingly, a furious bidding war erupted over a steel-bodied Mercedes-Benz 300SL, which sold for an impressive $ 1,375,000 – a new auction record for a Gullwing of this type. According to RM, bidders from 21 countries took part in the sale, highlighting the international attraction of these top-end sales.Rob Myers, Chairman and Founder, RM Auctions said: 'We are thrilled with the results from this week’s Arizona sale. The offering attracted strong interest from collectors around the globe, with numerous lots exceeding expectations. It is a great start to the New Year and paints a very positive forecast for the auction season ahead.'


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