RM Auctions held its 2010 Automobiles of Amelia Island auction on Saturday, March 13th in Amelia Island, Florida, posting in excess of $19 million in total sales with a strong 88% sell-through rate.
Returning to the prestigious Ritz-Carlton Hotel, the single-day sale saw 112 cars cross the block before a packed house, with four cars breaking the million dollar mark and 15 lots exceeding their pre-sale estimates. The sale once again acted as a prelude to the Amelia Island Concours d’Elegance.
“Simply put, RM Auctions enjoyed unqualified success at this year’s Amelia Island sale,” said Ian Kelleher, President and Chief Operating Officer, RM Auctions.
“World record prices, standing room only attendance and the most outstanding line-up of cars every offered at Amelia Island, solidified RM’s dominance and long-term standing as the official auction house of the concours weekend. Clients walked away from the auction with a great feeling of confidence as many cars met pre-sale estimates with a number exceeding expectations, illustrating RM’s expertise in the collector car market,” he added.
The top-seller was a 1930 Duesenberg Model J Sport Berline from the estate of noted American collector, the late Mr. John O’Quinn. One of 54 examples offered from the collection at this weekend’s sale, the ‘Whittell Mistress Car’ attracted strong interest on the block, exceeding its pre-sale estimate and selling for an impressive $1,705,000. A second Model J Duesenberg from the collection – a majestic and beautifully restored 1932 Convertible Coupe – realized a final sale price of $825,000.
Other highlights from the O’Quinn Collection included a 1955 Mercedes-Benz 300SL “Gullwing” Coupe, finished in graphite grey with red leather interior for $687,500, and a 1935 Auburn 851SC Speedster for $418,000. The unique 1964 Pontiac Bonneville “Hank Williams Jr.” Custom Convertible, built as a promotional vehicle for Hank Williams Jr. by Nudie Cohn, the famed ‘Rodeo Tailor to the Stars,’ attracted spirited bidding to sell for $225,500. An additional 130 examples from the O’Quinn Collection are slated to cross the block later this month at RM’s annual Collector Cars of Fort Lauderdale sale, March 26th – 28th.
Beyond the O’Quinn Collection, RM’s Amelia Island top-seller’s list was dominated by a range of historic Ferraris. A striking and multi-award winning Fly Yellow 1967 Ferrari 275 GTB/4 Berlinetta, currently featured in Forza Magazine, was another example to well-exceed its pre-sale estimate, selling for $1,650,000, while an alloy-bodied Four-Cam from the same year, finished in Nocciola and offered for the first time in 30 years, brought $1,265,000. Rounding out the million-dollar-plus sales, a 1971 Ferrari 365 GTB/4 Daytona Spyder, certified by Ferrari Classiche and formerly owned by Edsel B. Ford II, achieved $1,017,500.
RM Auctions offered 112 automobiles for sale, with 98 finding a new owner, reflecting an 88% sales rate. Total sales volume was $19,147,550, inclusive of buyer’s premiums. The average price per car sold was $198,383.
2010 Automobiles of Amelia Island Auction Results – RM Auctions
From the Estate of John O’ Quinn
A lifelong motoring enthusiast, John O’Quinn was regarded as one of the most prolific car collectors in the United States. From 2003 up until his tragic death in October 2009, he built one of the country’s most impressive collections featuring more than 1,000 automobiles. In addition to its incredible diversity, the O’Quinn Collection was noted for featuring one of the world’s largest collections of Duesenbergs with 23 examples in total. Fifty-five automobiles from the collection are slated for the Amelia Island sale.