RM established itself, by a large margin and with authority, as the top Monterey auction this year, selling a nearly inconceivable 93% of the 129 lots crossing the block, bringing in a total sale of $144,309,350, an average transaction of $1,202,578 and a median of $451,000.
The average transaction at RM was $1.2 million, equivalent to an average hammer bid of nearly $1.1 million. The total dollars changing hands at RM alone was more than all the Monterey auctions combined managed in any year prior to 2010, even before the financial system buckled in 2008.
RM’s other accomplishment was putting the Ford GT40 Roadster Prototype, s/n GT/108, in the Monterey auctions’ Top Ten, a list that was otherwise all-Ferrari. Thirty cars sold at RM on hammer bids of $1 million or more; six of their nine misses were also bid to a million or more.
It kept things interesting throughout the two sessions Friday and Saturday at Portola Plaza, especially as expensive cars vastly outnumbered bargains (that comparison may be too easy: there were no bargains, just a few good values.)
Curve-setting transactions were the order of the day(s), as the overall results indicate.
Here’s the history over the past seven years:
Andrew Newton ably assisted in gathering many of the on-site observations and photography. As always, the Editor is responsible for comments.
RM Auctions Monterey 2014 – Auction Report