The RM group of companies, incorporating RM Auctions and Auctions America, continued its successful sales run in 2012, generating more than $360-million (all prices quoted in U.S. dollars and inclusive of buyers’ premium) in total sales to cement its position as the world’s largest collector car auction company. Eclipsing its record-setting performance of 2011, the 2012 results represent an all-time high for the hobby and include the sale of more than 3,000 vehicles at 20 separate events in four countries.
This majestic 1935 Duesenberg Model J Sedan sold for $456,500 at Auctions America’s flagship 2012 Auburn Fall Collector Car Weekend. The 2012 event attracted more than 52,500 enthusiasts to the historic Auburn Auction Park (Photo: Andrew N. Smith © courtesy Auctions America)
Highlights & Records
“Historic races, historic results” best describes RM’s greatest auction moments of 2012, with the company enjoying its top performances of the season in the motorsport meccas of Monaco and Monterey.
Headlining this year’s European sales, RM made a triumphant return to Monaco in May for its biennial sale during the Grand Prix de Monaco Historique weekend.
Besting its record-setting debut performance of 2010, the two-day auction realized a spectacular $43-million to claim the title as one of Europe’s highest grossing collector car sales of all time, and most certainly the highest grossing collector car auction in Europe this year.
Back in North America, the company’s flagship sale in Monterey, California, held during the famous Pebble Beach Concours d’Elegance week, also posted exceptional results, with a spectacular $96-million in total sales and 90 per cent of all lots sold. The impressive results represent the highest individual auction tally in RM history, and significantly, an almost 20 per cent increase on its 2011 Monterey sale, generated no less by a smaller, more elite offering, as RM continued to focus on the top-tier of the market.
It was at the Monterey sale when RM achieved its top sale of the 2012 season: a 1968 Ford GT40 Gulf / Mirage Lightweight Racing Car, used extensively as the camera car in Le Mans, which sold for $11-million to set a new world record as the most expensive American automobile ever sold at auction.
In addition, RM achieved many other new auction records in 2012. Notable highlights include:
– a 1955 Ferrari 410 S Berlinetta for $8,250,000 – world record for a closed Ferrari sold at auction;
– a 1957 Ferrari 625 TRC Scaglietti Spider for $6,526,800 – world record for a 625 TRC at auction;
– a 1939 Horch Erdmann & Rossi Special Roadster for $5,170,000 – world record for a Horch sold at auction;
– a 1912 Oldsmobile Limited Five-Passenger Touringfor $3,300,000 – world record for an Oldsmobile sold at auction;
– a 1952 Ferrari 225 Sport Spyder ‘Tuboscocca’ for $3,263,400 – world record for a 225 S at auction;
– a 1953 Bentley Continental R-Type Fastback Sports Saloon for $1,622,500 – world record for a Bentley Continental R-Type at auction; and
– a 1969 Alfa Romeo Tipo 33/3 Sports Racer for $1,595,440 – world record for an Alfa Tipo 33 at auction.
Single-Owner Collections
Highlighting the 2012 private collections calendar was the magical Milhous Collection, presented by RM in association with Sotheby’s. The result of more than 50 years of collecting by brothers Robert & Paul Milhous, the auction—which featured a wonderful series of automobiles, mechanical musical instruments, and collectibles—enjoyed extraordinary success, generating more than $38 million to set a new benchmark for this type of private collection sale.
RM Europe hosted its first standalone single-vendor sale in 2012, lifting the gavel on Denmark’s famed Aalholm Automobil Museum. Attracting unprecedented interest from around the world, thousands of enthusiasts descended on the southern Danish island of Lolland for the single-day auction, with a three kilometre traffic queue to simply gain access to the venue. Total sales exceeded $12.9-million with fierce national interest in the collection leading to numerous lots far exceeding expectations.
RM will further consolidate its reputation as the specialist for private and estate collection sales in 2013 with two single-vendor sales already confirmed: the Bruce Weiner Microcar Museum sale, February 15–16 in Madison, Georgia and the Don Davis Collection, April 27, in Fort Worth, Texas.
Global Reach & Expansion
RM continued to expand its international network of clients in 2012 with entries handpicked from 24 countries around the world and bidders hailing from 56 countries. Worthy of special mention were a strong showing of enthusiasts from booming markets in the United Arab Emirates, the Russian Federation, India, China, Brazil and Australia, highlighting the effectiveness and reach of RM’s global marketing campaigns.
The growth of the private and estate collection division also supported client growth, specifically the Aalholm Automobil Museum in Denmark, and more recently, the John Staluppi Cars of Dreams Museum in Florida, where 85 per cent and 52 per cent of bidders, respectively, represented first time clientele. Repeat clientele were also joined by high levels of new interest, with 35 per cent of bidders at the company’s Monaco auction representing new clientele, while almost 25 per cent of bidders at RM’s annual London sale were first-time participants.
In addition, RM also enjoyed an expanded international footprint in 2012, establishing a new office in the Los Angeles area to increase the company’s presence in important markets and enable it to continue to deliver the unparalleled client service for which it is known.
Auctions America
Headlining Auctions America’s 2012 season was the highly successful Auburn Fall Collector Car Weekend, held during the famed Auburn Cord Duesenberg Festival. This year’s Labor Day Weekend sale marked Auctions America’s largest event to date, with total sales surpassing $18.6-million and 76 per cent of all lots sold. Reflecting the event’s steady and consistent growth over the past three years, more than 52,500 enthusiasts turned out to the historic Auburn Auction Park across the Labor Day Weekend, helping put Auburn “back on the map” as the Classic Car Capital of America. More than one-third of registered bidders represented new clientele.
In addition to its flagship Auburn Fall and spring sales, the 2012 Auctions America calendar also included successful sales in Fort Lauderdale, Florida, and Carlisle, Pennsylvania, where the team continued its partnership with Carlisle Events to deliver an ultimate automotive weekend experience.
Like RM Auctions, Auctions America also continued to demonstrate its expertise in the handling of private and estate collections in 2012, hosting two standalone single-vendor sales in addition to presenting a number of collections as featured attractions at its mainstream events. The Terry Bennett Collection and the National Military History Museum sales both enjoyed 100 percent sell-through rates, with more than 50 per cent of bidders at each event representing first-time participants.
Continuing its mission to host events in the country’s leading automotive destinations, Auctions America will expand its national event calendar in 2013 with the addition of a new sale in Burbank, California, August 2–4. In addition, the Company’s Auburn Spring event will expand to incorporate the Antique Automobile Club of America’s inaugural Central Division National Spring Meet. Further information on both of these exciting events will be unveiled in early 2013.
2013 Auction Schedules
Following their most successful auction seasons to date, both RM Auctions and Auctions America look forward to continuing the momentum in 2013 with another exciting calendar of events. In addition, the companies’ expert team of specialists will continue to participate in a wide range of hobby events, including Cavallino, Retromobile, the 25th anniversary of the Colorado Grand, and Schloss-Dyck Classic Days, among others.
RM Auctions
January 18 Phoenix, Arizona
February 15–16 The Bruce Weiner Microcar Museum – Madison, Georgia
March 9 Amelia Island, Florida – The official auction of the Amelia Island Concours d’Elegance
April 27 The Don Davis Collection – Fort Worth, Texas
May 25 RM at the Concorso d’Eleganza Villa d’Este – Cernobbio, Italy – The official auction of the Concorso d’Eleganza Villa d’Este
July 27 Plymouth, Michigan – The official auction of the Concours d’Elegance of America at St. John’s
August 16–17 Monterey, California
September London, England
October 10–11 Hershey, Pennsylvania
Auctions America
March 22–24 Fort Lauderdale, Florida
April 25–26 Spring Carlisle – Carlisle, Pennsylvania
May 9–11 Auburn Spring Collector Car Weekend – Auburn, Indiana
August 2–4 Burbank, California
August 29–Sept. 1 Auburn Fall Collector Car Weekend – Auburn, Indiana
October 3–4 Fall Carlisle – Carlisle, Pennsylvania
November – December To Be Announced
For further information and 2013 auction dates, visit rmauctions.com, find on Facebook, or follow on Twitter @rmauctions.
Bidding in progress on the 1957 Ferrari 625 TRC Scaglietti Spider at RM’s 2012 Monaco sale. The car sold for an impressive $6,526,800 – world record for a 625 TRC at auction (credit: Simon Clay © 2012 courtesy RM Auctions)