Historic 1964 Ferrari 250 LM Races to an Impressive $9.6 Million as Records Tumble at RM's Arizona Sale
January 18, 2015 by RM Auctions
• RM Auctions achieves its strongest performance to date in Arizona: $63.7 million in total sales with 90 percent of all lots sold
• 1964 Ferrari 250 LM achieves $9.6 million to secure the title as the most valuable automobile sold in Arizona auction history
• 17 motor cars achieve million-dollar-plus results with numerous new auction records established
• RM's 2015 calendar continues in Paris, February 4, and Amelia Island, Florida, March 14
PHOENIX, Arizona (January 18, 2015) – RM Auctions, the world's largest collector car auction house for investment-quality automobiles, kick-started the 2015 collector car season on a strong note last week (January 15-16), generating $63,700,375* in total sales, with 90 percent of all lots sold at its 16th annual Arizona Biltmore sale. RM's strongest Arizona performance to date, the impressive results – which reflect an average of $10 million generated per hour - are an almost 40 percent increase on the company's 2014 Arizona tally.
Reinforcing the company's position as the market leader, the sale, which attracted bidders from 20 countries, set numerous new benchmarks, including that for the most valuable automobile sold in Arizona auction history. Proudly taking this title was a Classiche-certified 1964 Ferrari 250 LM, chassis 5899 GT, with an impressive competition record. Roaring onto RM's Arizona Biltmore stage before a packed house on Friday evening, the thoroughbred Ferrari was hotly contested by bidders in the room and on the phones, eventually selling for an outstanding $9,625,000 (video: http://youtu.be/K2cgxrywgh0).
Ferraris reigned supreme at the two-day RM sale, constituting eight of the event's overall top 10 sales. Among other highlights, a freshly restored 1966 Ferrari 275 GTS and a low-mileage 1984 288 GTO, each established new auction records for their models, selling for $2,365,000 and $2,750,000 respectively. It wasn't just top-tier examples that achieved top dollar: prices for Ferraris of all eras were strong, as demonstrated by a 1974 Ferrari 365 GT4 BB, which sold for a record $511,500, and a 2005 Ferrari 575 Superamerica, which soared past high estimate, realizing $517,000.
'We're thrilled with the results from our Arizona sale. Carefully curated by our specialists, our offering was defined by its quality and uniqueness, with fantastic prices recorded across the board,' says Ian Kelleher, Managing Director, RM Auctions' West Coast Division. 'The results not only prove that quality sells, but reflect our commitment as a company to deliver the best of the very best. Arizona provided a terrific start to our new collector car auction calendar and we look forward to continuing to raise the bar throughout the 2015 season.'
Reflecting RM's strength across all segments of the market, additional lots exceeding expectations in Arizona included:
• a matching-numbers 1971 Mercedes-Benz 280 SE 3.5 Cabriolet sold for $473,000, to establish a new record for the model at auction;
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• a rare 1969 Porsche 911 S 'Soft Window' Targa realized a terrific $286,000 against a pre-sale estimate of $175,000 - $225,000;
• a 1984 Audi Sport Quattro illustrated the growing appeal of poster cars of the 1980s, garnering a superb $401,500; • a stunning 1956 Continental Mark II well surpassed its pre-sale estimate at $247,500;
• a 1975 Lamborghini Urraco P111 established a new auction record at $126,500; and,
• a well-documented 1930 Rolls-Royce Phantom II Shooting Brake more than doubled its pre-sale estimate at $181,500.
Lot 250: 1964 Ferrari 250 LM (Chassis 5899 GT) $9,625,000
Lot 241: 1967 Ferrari 275 GTB/4 (Chassis 10451) $3,657,500
Lot 235: 1973 Ferrari 365 GTB/4 Daytona Spider (Chassis 16793) $3,300,000
Lot 115: 1966 Ferrari 275 GTB (Chassis 08603) $2,750,000
Lot 158: 1984 Ferrari 288 GTO (Chassis ZFFPA16B000055237) $2,750,000
Lot 151: 1966 Ferrari 275 GTS (Chassis 08313) $2,365,000
Lot 119: 1971 Lamborghini Miura SVJ (Chassis 4892) $1,897,500
Lot 136: 1962 Ferrari 250 GT Cabriolet Series II (Chassis 3633 GT) $1,705,000
Lot 143: 1965 Porsche 904 Carrera GTS (Chassis 904-107) $1,650,000
Lot 253: 2005 Ferrari FXX Evoluzione (Chassis ZFFHX62X000145369) $1,622,500
RM Auctions continues its 2015 calendar on February 4 with its highly anticipated return to Paris during the world-famous Retromobile week. The company then returns to Amelia Island, Florida, March 14 for its well-established sale during the Amelia Island Concours d'Elegance.
For full results from RM's Arizona sale and further information on upcoming events, please visit www.rmauctions.com or call +1 519 352 4575.
RM Arizona Top 10 Sales:
RM Auctions is the world's largest auction house for investment-quality automobiles. With 35 years' 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 car specialists and an international footprint, 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. For further information please visit www.rmauctions.com, find us on Facebook, follow us on Twitter @rmauctions, or view our YouTube Channel, www.youtube.com/RMAuctionsInc.
*Results are listed in USD and are inclusive of 10% buyer's premium for all automotive lots and 15% for non-automotive lots.
About RM Auctions
Top: Top-seller: 1964 Ferrari 250 LM realizes $9.6 million to become the most valuable automobile sold in Arizona auction history (credit: Ben Majors © 2015 courtesy RM Auctions)
Second: Automobiles were displayed as works of art inside the beautiful Frank Lloyd Wright Ballroom at the Arizona Biltmore (credit: Ben Majors © 2015 courtesy RM Auctions)
Third: Illustrating the growing popularity of poster cars from the 1980s, this 1984 Audi Quattro Sport soared to a final $401,500 to set a new record for the model at auction (credit: Ben Majors © 2015 courtesy RM Auctions)