RM Sotheby’s Reports $423 Million in Sales ... Led by Most Valuable Car Ever Sold at Auction $48.4 Million 1962 Ferrari 250 GTO


Lot 247 - 1962 Ferrari 250 GTO s_n 3413GT Est. $45,000,000 - $60,000,000 - Sold $48,405,000RM Sotheby's Monterey Auction

Lot 247 - 1962 Ferrari 250 GTO s_n 3413GT Est. $45,000,000 - $60,000,000 - Sold $48,405,000RM Sotheby's Monterey Auction

 

BLENHEIM, Ontario, 13 December 2018

RM Sotheby’s, the world’s largest auction house for investment quality automobiles, has released global auction sales totals and highlights for 2018 following the company’s final event at the Petersen Automotive Museum in Los Angeles this past weekend.

2018 proved to be an outstanding year for RM Sotheby’s despite the subdued conditions in the collector car market,” says Kenneth Ahn, President, RM Sotheby’s. “RM Sotheby’s maintained market leadership as the largest collector car auction house by total sales and saw strong activity in the high end of the market, as we sold 68 collector cars for over $1 million each, for a combined value of more than $222 million (approx. 52 percent of our total sales); we also maintained our position as number one auction house in $1 million+ cars by both total sales and the number of cars sold. As illustrated by our top ten results, prices for rare, high-quality cars have been exceptionally strong across several segments of the market, from blue-chip racing and touring cars of the 1950s and 60s, to great American Classics and modern supercars.”


Looking ahead to 2019 and the state of the collector car market globally, Ahn continues, “After two consecutive years of declining average prices for collector cars sold across global auction houses, we have witnessed a stabilization in the pricing environment and solid market fundamentals, including strong industry-wide total sales and sell-through rates, in 2018.  Further, the higher end of the market has been exceptionally strong for us, and our new Private Sales Division achieved total sales of more than $150 million –a result well beyond our expectations. We at RM Sotheby’s are optimistic about the collector car market heading into 2019, as we look forward to expanding into new regions as well as expanding our offerings across a growing global client base. We are grateful for our clients around the globe who have entrusted us in buying and selling some of the best motor cars in the world.” 

RM Sotheby’s will open its 2019 calendar with the company’s 20th annual Arizona auction, 17-18 January at the Biltmore Resort & Spa in Phoenix. The complete digital catalogue for the Arizona sale will be available ahead of the holiday season, with additional feature car announcements yet to come. The company’s sixth annual Paris auction, set for 6 February, will be coupled with a Private Sales display on RM Sotheby’s stand at the renowned Rétromobile show as the division grows its presence in Europe. The auction house will further extend its European footprint into Germany with its inaugural sale at Techno Classica Essen, which has now been expanded to a two-day auction, 11-12 April, thanks to the addition of The Youngtimer Collection, which is already drawing significant interest. RM Sotheby’s will also become the official auction partner of Aston Martin in 2019, adding a third, single-marque evening to its 2019 Monterey sale.

Private Sales Division Transactions Exceed More Than $150 Million

Private Sales division handles the discreet sale of more than $150 million of some of the world’s most significant collector cars in 2018
Successful transactions led by 1963 Ferrari 275 P s/n 0816, the only Ferrari to have won the legendary 24 Hours of Le Mans twice, 1958 Ferrari 250 Testa Rossa, and highly sought-after 1998 McLaren F1 LM-Specification


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