Whom You Know: RM AUCTIONS AND SOTHEBY’S STUN THE MARKET WITH INCREDIBLE $63 MILLION ‘ART OF THE AUTOMOBILE’ SALE IN NEW YORK

Friday, November 22, 2013

RM AUCTIONS AND SOTHEBY’S STUN THE MARKET WITH INCREDIBLE $63 MILLION ‘ART OF THE AUTOMOBILE’ SALE IN NEW YORK

In what is being regarded as one of the most incredible collector car auctions of all time, RM Auctions and Sotheby’s Art of the Automobile sale today achieved $62,797,500 of sales in just over two hours of bidding. The packed sale room saw records tumble across numerous lots, with top sale honors going to a 1964 Ferrari 250 LM, a wonderfully historic and original example of this very rare sports racing Ferrari, which sold for $14,300,000, establishing a new world record for the model at auction. Taking the number two spot was the simply gorgeous 1938 Talbot-Lago T150-C SS Teardrop Cabriolet by Figoni et Falaschi, commonly regarded as one of the most beautiful coach built cars of all time, which sold for $7,150,000, also establishing a new world record for the model at auction.

The 31 hand-picked automobiles, two motorcycles and seven pieces of artwork, offered at the Art of the Automobile sale, the first major collector car auction to take place in Manhattan for over a decade, presented over a century of stunningautomotive history and design in a unique gallery setting at Sotheby’s New York headquarters. The auction, with its unique blend of quality and presentation, has set a new standard within the collector car auction market and attracted a vast and diverse audience of international bidders, keen to secure the finest examples of automotive artistry available to the market. Demonstrating both RM and Sotheby’s international footprint, bidders hailed from 17 countries, 15 percent of whom represented clients who had never participated in an RM sale.

Rob Myers, CEO and founder of RM Auctions, says: “Working with Sotheby’s, we set out to create the finest automobile auction that there has ever been. Our aim has been to raise the bar and set a completely new standard for quality and presentation, and I am delighted to say that these amazing results have proven it a great success. What we have established here in New York is a complete demonstration of how to bring some of the world’s rarest and most exceptional automobiles to market, in both an exciting and visually arresting way. Furthermore, the sale has successfully brought many new collectors into the market for the first time, which is fantastic news for our hobby.”

Aside from the Ferrari 250LM and Talbot-Lago, numerous additional lots sold spectacularly well during the sale, with several world record prices established. The third highest seller of the night was the unique 1959 Ferrari 250 GT SWB “Competition” Berlinetta Speciale, one of the greatest dual-purpose sports racing cars of all time, with bespoke coachwork by Bertone. Huge interest in this car culminated in a top bid of $7,040,000. Other notable European highlights include the 1954 Maserati A6G/2000 Spyder by Carrozzeria Zagato, the only example with coachwork by Zagato, which sold for $4,455,000 while the 1936 Delahaye Type 135 Competition Court Teardrop Coupé by Carrosserie Figoni et Falaschi, the 1933 Rolls-Royce Phantom II Continental Sports Coupé by Freestone & Webb, and the 2011 Bugatti Veyron 16.4 Grand Sport Bleu Nuit, each achieved $2,420,000.

• RM Auctions and Sotheby’s momentous Art of the Automobile auction generates $62,797,500 of sales in two hours

of furious bidding

• Records tumble with the historic 1964 Ferrari 250 LM by Carrozzeria Scaglietti achieving $14,3000,000 while the stunning 1938 Talbot-Lago T150-C SS Teardrop Cabriolet by Figoni et Falaschi sells for $7,150,000

• 93 percent of all lots sold to an international audience of bidders representing 17 countries

• Full results are available online at www.rmauctions.com andwww.sothebys.com

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