RM Auctions held its inaugural Sporting Classics of Monaco event on 1st May, 2010 at the Grimaldi Forum in Monaco, achieving $45,101,139 in total sales and matching the highest dollar single-day collector car auction in history.
“RM’s inaugural Monaco sale has set a new standard for collector car auctions not only for the high quality of cars, but also for its impeccable presentation and client experience. Two world record prices, and seven lots achieving in excess of one million euro, aptly illustrate this achievement,” said Max Girardo, Managing Director, RM Europe. “Our Monaco sales results underscore RM’s undisputed leadership position in the investment-grade segment of the collector car market.”
Held during the same weekend as the 7th Grand Prix Historique de Monaco, RM Auctions assembled 44 lots of memorabilia and 105 cars for the new single-day auction, including 25 motor cars offered without reserve. A strong 88 of the 105 (86%) motor cars offered changed hands, with five automobiles attaining prices in excess of $2.8 million, along with two setting new world records.
Ferraris dominated the spots at the auction, with the top sale going to the 1962 Ferrari 400 Superamerica Cabriolet Pininfarina SWB at $3,799,600, followed by the 1962 Ferrari 250 GT SWB Berlinetta at $3,571,624, 1960 Maserati Tipo 61 ‘Birdcage’ for $3,343,648, 1957 Ferrari 250 GT LWB Tour de France at $3,191,664 and 1959 Ferrari 250 GT LWB California Spyder for $2,811,704.
The sale’s headline car, the 1937 BMW 328 MM ‘Buegelfalte’, s/n 85032 exchanged hands within less than 24 hours of the sale’s conclusion for a confidential sum and is not included in the final sale results. However, the Buegelfalte reached a high bid of $5,835,100 and its addition to the final auction results produce the most successful collector auction in history.
RM Auctions offered 105 automobiles for sale, with 88 finding a new owner, reflecting an 86% sales rate. Total sales volume was $45,101,139, inclusive of buyer’s premiums. The average price per car sold was $512,512.