RM Auctions held its annual Vintage Motor Cars of Hershey auction on October 8-9, 2009 in Pennsylvania, posting in excess of $9.1 million in sales with a strong 94% of motor cars sold.
Held in conjunction with the AACA Eastern Division Fall Meet, the two-day auction kicked off Thursday, October 8th, with the successful sale of a private East Coast collection of automobilia, which achieved over $400,000 in total sales, followed the next day by 50 more pieces of automobilia and 136 cars.
Top sale was a highly desirable 1931 Marmon Sixteen Convertible Coupe which realized $517,000, while a largely unrestored 1933 Cadillac V16 Convertible Victoria brought $412,500. The handsome Cadillac V16 was one of just two examples built and was originally owned by Hollywood actor Robert Montgomery.
Another highlight was the Miller 91 Front Drive Engine, considered one of the most important Miller artifacts to come to the market in decades. Attracting spirited bidding, the Miller engine nearly tripled its original estimate, selling for $297,000.
“Despite the continuing economic concerns, RM Auctions’ impressive sales results in both Los Angeles, California and Hershey, Pennsylvania, continue to solidify and encourage confidence in the collector car market”, said Ian Kelleher, President & Chief Operating Officer of RM Auctions.
“Our Hershey auction was incredibly well-attended by bidders and buyers from around the world in a standing-room only atmosphere. We look forward to building on the strong results and welcoming collectors to our London auction later this month,” he added.
RM Auctions offered 136 cars for sale, with 128 finding new owners, reflecting an 94% sale rate. The total sales volume was $8,664,700 and the average price per car sold was $67,692.
In 2008, RM sold 73 of 84 cars offered (87% sales rate) for total sales of $6,872,350. The average price per car sold was $94,141.
Click for complete results: 2009 Vintage Motor Cars of Hershey – Official Results
Notable 2009 Vintage Motor Cars of Hershey Auction Results
RM Auctions will conclude its 2009 auction calendar later this month with the return of the distinguished Automobiles of London event, October 28. Presented in association with Sotheby’s, this year’s event will offer over 80 collector cars to go under the hammer.
For more information, visit www.rmauctions.com.
[Source: RM Auctions]
