1967 Ferrari 275 GTB N.A.R.T. Spider
Ferrari 275 GTB NART Spider sold for $27,500,000

The RM Auctions Monterey 2013 auction was held August 16-17 at the Portola Hotel and Monterey Convention Center in Monterey, California, resulting in $125 million in total sales and an 88% sell-through rate.

A total of 27 cars sold for more than $1 million and numerous new world records were established at RM’s flagship sale. The auction total, which exceeded RM’s 2012 Monterey results by $30 million, represents a world record sales total for an automotive auction. The results were generated by registered bidders from 30 different countries on the telephone, over the Internet, and assembled in the standing-room-only venue.

The big news from the auction — and the buzz of Monterey Classic Car Week — was the staggering result achieved on the 1967 Ferrari 275 GTB/4*S N.A.R.T Spider. One of 10 built, the Spider sold for $27,500,000, the second highest result ever at public auction, behind the 1954 Mercedes-Benz W196R that recently sold for $29.65 million. The NART Spider becomes the most expensive Ferrari and the most valuable road-going car ever sold at public auction. The particular car sold in Monterey, chassis 10709, had been in the same family’s ownership since new. All proceeds from the sale will be donated to charitable causes close to the heart of the late owner, Mr. Eddie Smith Sr.

“From day one, our singular aim was to tell our extraordinary father’s story and honor him in a way that would have made him smile, by donating the proceeds to charities that dad and our entire family are fond of. We feel very blessed to be able to touch thousands of lives in such a positive way. RM Auctions did a tremendous job from start to finish, forever linking dad’s legacy with the car he loved so much. Attending the festivities on the Monterey Peninsula with our friends and family was precisely what Dad would have wanted us to do!” said Eddie Smith Jr, son of the original owner.

Another notable Ferrari sale went to the 1953 Ferrari 375 MM Spider that sold for $9,075,000. Bought new by Jim Kimberly of the Kimberly-Clark business empire, the car was campaigned extensively in period and won the SCCA National. The sale demonstrates the continued strength of the Ferrari marque and the demand for blue-chip examples with provenance and documented history.

Other strong results included the 2012 Pebble Beach Best of Show-winning 1928 Mercedes-Benz 680S Torpedo Saoutchik Roadster, which sold for $8,250,000, the 1939 Mercedes-Benz 540K Special Roadster, with one-off coachwork by Sindelfingen, that garnered $7,480,000, the 1955 Ferrari 750 Monza Spider that made $4,070,000 and the 1955 Jaguar D-Type that brought $3,905,000.

Further highlights from the 2013 RM Auctions Monterey sale included:

  • 1973 Ferrari 365 GTB Daytona, described as one of the best in the world, exceeded its pre-sale estimate, selling for $770,000 and establishes a record auction price for a production spec, non-competition Daytona
  • 1963 Shelby 289 Cobra sold for $924,000
  • 1985 Porsche 959 ‘Vorserie’ sold for $670,000
  • 1932 Chrysler CH Imperial Cabriolet, which established a new record for the model, sold for $660,000
  • 1961 Mercedes-Benz 190SL Roadster sold for $269,500, establishing a new record for the model

RM Auctions offered 120 automobiles for sale, with 105 finding a new owner, reflecting an 88% sell-through rate. Total sales volume was $125,086,750, inclusive of buyer’s premiums. The average price per car sold was $1,191,302. In 2012, RM Auctions offered 119 automobiles for sale, with 105 finding a new owner, reflecting an 88% sell-through rate. Total sales volume was $95,274,150, inclusive of buyer’s premiums, and the average price per car sold was $907,373.

RM Auctions Monterey 2013 – Top 20 Auction Results

1. 1967 Ferrari 275 GTB/4*S NART Spider – $27,500,000
2. 1953 Ferrari 375 MM Spider – $9,075,000
3. 1928 Mercedes-Benz 680S Torpedo Saoutchik Roadster – $8,250,000
4. 1939 Mercedes-Benz 540K Special Roadster – $7,480,000
5. 1955 Ferrari 750 Monza Spider – $4,070,000
6. 1955 Jaguar D-Type – $3,905,000
7. 1954 Ferrari 500 Mondial Series I Spider – $3,520,000
8. 1974 McLaren M16C Indianapolis Race Car – $3,520,000
9. 1950 Ferrari 166 MM Barchetta – $3,080,000
10. 1961 Ferrari 400 Superamerica SWB Aerodinamico Coupe – $2,750,000
11. 1953 Maserati A6G/2000 Spider by Frua – $2,530,000
12. 1935 Hispano-Suiza K6 Cabriolet – $2,255,000
13. 1960 Aston Martin DB4 GT – $2,200,000
14. 1960 Maserati Tipo 61 Birdcage – $2,090,000
15. 1958 Lister-Jaguar ‘Knobbly’ Prototype – $1,800,000
16. 1995 Ferrari F50 – $1,677,500
17. 1971 Ferrari 365 GTB/4 Daytona Spider – $1,650,000
18. 1955 Mercedes-Benz 300SL Gullwing – $1,485,000
19. 1957 Mercedes-Benz 300SL Roadster – $1,430,000
20. 1964 Ferrari 250 GT/L ‘Lusso’ Belinetta – $1,386,000

(RM Auctions Monterey 2013 – Complete Auction Results)

RM’s weekend on the Monterey Peninsula was topped-off when the 1934 Packard 1108 Twelve Dietrich Convertible Victoria, which was freshly restored by RM Auto Restoration, won Best of Show at the 2013 Pebble Beach Concours d’Elegance. This marks the fifth time the company has won Best of Show honors in the new millennium. The Packard also received the Gwenn Graham Most Elegant Convertible award, along with First in Class in the C-2: American Classic Open Packard category. Additional honors achieved by RM Auto Restoration include the Elegance in Motion Trophy for the 1938 Talbot-Lago 150C SS Figoni & Falaschi Cabriolet and First in Class for the 1931 Cadillac 452A Fleetwood Coupe in the C-3: American Classic Closed category.

RM continues its 2013 calendar with its London auction on its new dates, September 8-9. Held in association with the St. James’s Concours of Elegance, the auction will be a two-day sale for the first time in the event’s seven year history. The European sale will be followed by RM’s annual Hershey, Pennsylvania sale, October 10-11, and RM’s Art of the Automobile sale, presented in association with Sotheby’s, November 21, in New York City.

For more information, visit www.rmauctions.com.

[Source: RM Auctions; photo: Eugene Robertson]