RM Auctions Continues Strong 2013 Auction Season with $9.6 Million Hershey Sale

October 15, 2013 by RM Auction

• RM Auctions generates more than $9.6 million in total sales, with 90 percent of all lots sold, at its annual Hershey, Pennsylvania, sale

• Top-sellers: superlative 1933 Chrysler CL Imperial Convertible Roadster achieves $704,000; 1910 Pierce-Arrow 48-SS Seven Passenger Touring, offered for first time in six decades, brings $687,500

• Estate collection of Jim Miller realizes $1,265,000, with numerous lots exceeding estimate

• Full results available online at www.rmauctions.com

BLENHEIM, Ontario (October 15, 2013) – RM Auctions continued its highly successful 2013 auction season last week (October 10–11), posting a strong $9,697,600, with 90 percent of all lots sold, at its annual Hershey, Pennsylvania, sale. Held during the renowned AACA Eastern Regional Fall Meet, the well-established auction drew a standing-room-only crowd, with numerous spirited bidding contests erupting over the course of the two days. Illustrating RM's international clientele and the continued global popularity of the Hershey auction, bidders represented 17 countries from around the world.

'We're thrilled with the results from this year's Hershey sale,' says Gord Duff, Car Specialist, RM Auctions. 'Since its launch in 2007, our Hershey sale has enjoyed strong support from the collector community. This year's event was no exception, with high levels of client interest resulting in numerous lots exceeding expectations. The results not only reflect the quality of the product on offer, but also the global reach of RM's marketing campaigns and the company's ability to match product to venue.'

Top sale honors went to the catalogue's cover car, a beautifully restored 1933 Chrysler CL Imperial Convertible Roadster, which was one of only nine built and one of just six known survivors. A multiple-award-winning example from the most sought after and renowned year of production, the rare '33 Chrysler attracted tremendous pre-sale interest, resulting in a fierce bidding war in the room, before selling for an outstanding $704,000. Continuing the Hershey sale's strong track record for Brass Era motor cars, an exceptional 1910 Pierce-Arrow 48-SS Seven Passenger Touring, offered from single-family ownership since 1950, realized $687,500.

Another highlight of the sale was the presentation of 14 select automobiles from the estate of Jim Miller. Headlined by a 1947 Ford Super DeLuxe Sportsman, the collection achieved a total $1,265,000, with numerous lots exceeding expectations. Among those surpassing pre-sale estimates were a 1934 Packard Eight Phaeton, for $132,000; a 1950 Cadillac Series 62 Convertible, for $126,500; and a 1955 Ford Fairlane Crown Victoria and 1970 Oldsmobile 442, which sold for $88,000 each.

Duff adds, 'Jim Miller was a close friend of the RM team, and he was well-respected in the collector car community. We were honored to present some of his favorite cars on behalf of his family. The results reflect Jim's great eye for quality.'

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Beyond the automobiles, a beautifully restored, multiple-award-winning 1932 Gar Wood 28′ Triple Cockpit Runabout 'Hornet' also sold exceptionally well. As one of only seven produced in 1932, the 'Hornet' was hotly contested by bidders in the room and on the phones, eventually selling for a strong $396,000, against a pre-sale estimate of $280,000–$340,000.

RM Hershey Top Five Sales:

1. Lot 238 – 1933 Chrysler CL Imperial Convertible Roadster - $704,000

2. Lot 136 – 1910 Pierce-Arrow 48-SS Seven-Passenger Touring - $687,500

3. Lot 153 – 1932 Gar Wood 28′ Triple Cockpit Runabout 'Hornet' - $396,000

4. Lot 135 – 1914 Locomobile Model 48 Speedster - $291,500

5. Lot 131 – 1936 Lincoln Model K Convertible Victoria - $242,000

RM Auctions rounds out its 2013 auction calendar with its exclusive Art of the Automobile event, taking place November 21 in New York City. Proudly presented by RM and Sotheby's, the event, which is a sale and exhibition celebrating the motor car and its place in the history of design, represents the first major collector car auction to be held in Manhattan in over a decade.

Further information on the New York auction, along with full results from Hershey, are available online at www.rmauctions.com.

*Results are listed in USD and are inclusive of a 10 percent buyer's premium for vehicles and 15 percent for memorabilia.

Photo Caption: 1933 Chrysler CL Imperial Convertible Roadster, Photo Credit David Ohl © 2013 Courtesy of RM Auctions

About RM Auctions

RM Auctions is the world's largest auction house for investment-quality automobiles. With over three decades of experience in the collector car industry, RM's vertically integrated range of services, from restoration to private treaty sales, auctions, estate planning, and financial services, coupled with an expert team of international car specialists at seven offices around the world, provide an unsurpassed level of service to the global collector car market. RM proudly holds five of the top ten all-time records for the most expensive motor cars sold at auction. RM's restoration division has achieved unprecedented accolades, earning Best of Show honors at the world's top concours events, including the prestigious Amelia Island and Pebble Beach Concours d'Elegance. For further information, visit rmauctions.com, find us on Facebook, or follow us on Twitter @rmauctions.