The RM Auctions Monterey 2014 auction was held August 15-16 at the Portola Hotel and Monterey Convention Center in Monterey, California, resulting in $143.4 million in total sales and a 91% sell-through rate.
RM’s flagship auction, held annually during the Monterey Classic Car Week, ranks as the highest grossing collector car auction of all time, breaking the previous record set by RM in 2013. In addition, the sale also established a new benchmark for a single-day collector car auction, realizing more than $88 million during just four hours of bidding at its Saturday session.
RM Auctions offered nearly 130 automobiles at its 2014 Monterey sale, with 35 achieving million-dollar-plus results and three lots exceeding $10 million. Bidders represented 29 countries, including Russia, Hong Kong, Japan and Brazil. The top result went to the 1964 Ferrari 275 GTB/C Speciale that roared onto the auction stage on Saturday evening to applause from the crowd. Bidding opened at $15 million, quickly climbing to a final price of $26,400,000. Footage of the Speciale crossing the podium is .
“The sale reflected our commitment to bringing the very best to market. From the first lot on Friday night through to the final lot on Saturday evening, this year’s offering was defined by its incredible quality. The high-caliber of entries, combined with accurate auction estimates provided by our expert specialists, generated strong interest and made for an incredibly exciting auction,” said Ian Kelleher, Managing Director of RM Auctions’ West Coast Division. “The atmosphere in the auction room was electric with numerous spirited bidding contests, strong prices recorded across all categories, and a number of new benchmarks set. We’re thrilled with the results – a very fitting way to mark our 35th anniversary in the collector car hobby.”
Other sale-topping Ferraris included a 1964 Ferrari 250 LM, which led RM’s Friday sale session at $11,550,000, along with the ex-Steve McQueen 1967 Ferrari 275 GTB/4 that sold for $10,175,000, more than triple the previous record for the model.
Additional highlights included the Austie Clark 1911 Mercer Type 35R Raceabout, offered from single-family ownership since 1949, for $2,530,000, a record for a Mercer sold at auction, and a 1955 Mercedes-Benz 300 SL, which achieved the same price to set a new auction record for a non-alloy Gullwing. The sale also illustrated the growing demand for Japanese collector cars with a 1972 Nissan Skyline H/T 2000GT-R ‘Hakosuka’ exceeding estimate at $242,000, and a 1967 Toyota 2000GT which broke seven figures at $1,045,000.
RM Auctions Monterey 2014 – Top 20 Auction Results
1. 1964 Ferrari 275 GTB/C Speciale – $26,400,000
2. 1964 Ferrari 250 LM – $11,550,000
3. 1967 Ferrari 275 GTB/4 – $10,175,000
4. 1965 Ford GT40 Prototype Roadster – $6,930,000
5. 1967 Ferrari 275 GTB/4 – $3,750,000
6. 1965 Ferrari 275 GTB Alloy – $3,382,500
7. 1963 Ferrari 400 Superamerica LWB Coupe Aerodinamico Series II – $2,915,000
8. 1953 Ferrari 250 GT Europa Coupe – $2,750,000
9. 1911 Mercer Type 35R Raceabout – $2,530,000
9. 1955 Mercedes-Benz 300 SL Gullwing – $2,530,000
11. 2013 Bugatti Veyron 16.4 Grand Sport Vitesse ‘Le Ciel Californien’ – $2,420,000
12. 1963 Ferrari 250 GT/L ‘Lusso’ Berlinetta – $2,117,000
13. 1971 Lamborghini Miura SV – $2,090,000
13. 1960 Aston Martin DB4GT – $2,090,000
15. 1964 Ferrari 250 GT/L ‘Lusso’ Berlinetta – $1,980,000
16. 2003 Ferrari Enzo – $1,925,000
17. 2000 Ferrari F1-2000 – $1,804,000
18. 1966 Ferrari 275 GTS – $1,760,000
19. 1966 Shelby 427 Cobra – $1,705,000
20. 1965 Aston Martin DB5 – $1,650,000
For complete auction results, visit rmauctions.com.
RM Auctions offered 129 vehicles for sale, with 118 finding a new owner, reflecting a 91.47% sell-through rate. Total sales volume was $143,420,850, inclusive of buyer’s premiums. The average price per car sold was $1,215,430. In 2013, RM offered 119 automobiles for sale, with 104 finding a new owner, reflecting a 87.4% sell-through rate. Total sales volume was $124,993,250, inclusive of buyer’s premiums. The average price per car sold was $1,201,858.
RM continues its 2014 summer calendar of events, September 8 in London, England for its annual sale at Battersea Evolution held in partnership with the Concours of Elegance at Hampton Court Palace. For additional information, visit rmauctions.com or contact RM’s London office at +44 (0) 20 7851 7070.
[Source: RM Auctions; photo: Darin Schnabel]
