RM Sotheby's Sees Standout Prices and Strong Bidder Turnout at $37 Million Arizona Sale

January 20, 2019 by RM Sothebys

• RM Sotheby's Arizona sale totals $37 million with 85 percent of all lots sold at the Arizona Biltmore

• Top sales led by low-mileage, fresh-to-market Ferrari 288 GTO at $3,360,000

• Stand out prices achieved at various segments of the market, highlighted by three single-owner private collections

• Complete results from RM Sotheby's 2019 Arizona sale available at rmsothebys.com

• RM Sotheby's continues 2019 calendar with annual Paris sale, 6 February during Rétromobile week

PHOENIX, Arizona (20 January 2019) – RM Sotheby's kicked off its 2019 auction calendar this past week with the company's 20th annual Arizona sale, 17-18 January at the Arizona Biltmore in Phoenix. The two-evening auction totaled $37 million in sales, with 85 percent of all lots finding new homes. The top sale of the week was a fresh-to-market, 2,900-mile 1985 Ferrari 288 GTO, which drew enthusiastic bidding from several parties on Thursday night before selling for a final $3,360,000 (est. $3.2/3.6m).

Additional top sale highlights from RM Sotheby's Arizona auction cover the spectrum of the collector car market, from American Classics in high demand through high-performance modern collectibles, illustrating strong collector interest in several segments. Thursday evening also saw a Classiche-certified 1967 Ferrari 330 GTS by Pininfarina offered from nearly 20 years of single-ownership bring a strong $2,012,500 to become the second-highest sale of the auction. Adding to Ferrari highlights for Thursday night, a one-off 1971 Ferrari 365 GTB/4 Daytona NART Spider with intriguing design by Michelotti sold for an above-estimate $670,500 (est. $600/650k), while a highly optioned, 280-mile 2017 Ferrari F12tdf attractively finished in Grigio Titanio over a two-tone blue interior sold for $1,006,000 (est. $950k/1.1m). Modern collectibles also drew strong interest in the form of a one-of-50 2012 Lexus LFA Nürburgring Package, which sold for a final $885,000 (est. $850k/1.1m).

Perhaps the most exciting moment of the Thursday evening sale came when a pair of 1993 Vector Avtech WX-3 Prototypes, the first all-American supercar, incited extended bidding competitions. Following great interest during the preview, the original coupe brought $615,500, well-exceeding its pre-sale estimate of $450,000 - $550,000, while the WX-3R Roadster version sold for a final $500,000 (est. $450/550k).

Friday evening also resulted in stand-out individual prices, most notably for motor cars from three private collections offered without reserve on the night. First up was the Torque Collection, which included a selection of Porsche 911 models that drew strong bidding activity across the board. The final and most unique lot of the collection was a rare, fully restored 1951 Spartan Royal Mansion trailer, which started a bidding contest between bidders in the room and on the phones, eventually bringing a final $351,500, soaring past estimate (est. $200/250k).

Final offerings from the Calumet Collection were next on the block, a single-owner group of British luxury automobiles ranging from 1923 to 2012. With enthusiastic interest across the unique Rolls-Royce and Bentley models on offer, highlights included the final $252,000 for a truly one-of-a-kind, coachbuilt 1987 Rolls-Royce Carmargue Retractable Hardtop with only 987 actual miles after a back and forth bidding battle (est. $100/150k), as well as the $246,400 for what is believed to be the very first 2000 Bentley Continental SC (est. $150/200k).

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Finally, selections from the Richard L. Burdick Collection went under the hammer, demonstrating the high demand for exceptional American Classics in today's market. Highlights include a 1930 Cadillac V-16 Sport Phaeton by Fleetwood, one of just 18 surviving examples and wearing an award-winning restoration, which began a long bidding contest between bidders on the phone, with a bidder in the room jumping in at the end and bringing the car home at a final $940,000 (est. $750/900k). A 1932 Marmon Sixteen Two-Passenger Coupe also warranted enthusiastic bidding from multiple parties on the phone, selling for a final $665,000 (est. $400/600k).

Beyond the private collections, additional highlights from Friday included a 2010 Porsche 911 Sport Classic, which saw two bidders in the room bring the car to a final price of $654,000—setting a new benchmark for the model as the first example ever offered at auction (est. $400/500k). A freshly restored 1948 Tucker 48, a car the RM Sotheby's team has become renowned for presenting at auction, also sold well at a final $1,600,000 (est. $1.5/1.7m).

'We were thrilled to bring an exceptional, high quality offering of blue-chip collector cars to our 20th Arizona sale,' said Gord Duff, Global head of Auctions, RM Sotheby's following the auction. 'We received fantastic feedback on the catalogue of cars, and, while we certainly witnessed a continued shift in collecting interests, we saw strong prices achieved for fresh-to-market motor cars from several segments of the market, most notably for great American Classics and for late-model collectibles. There was an enthusiastic atmosphere throughout our preview hours, and high energy and a packed house inside the tented auction area on both sale evenings, with the strongest bidder turnout we've seen at Arizona in more than five years, signaling new interest in the hobby.'

RM Sotheby's Arizona 2019 – Top Ten Sales

1. Lot 149 1985 Ferrari 288 GTO (CHASSIS NO. ZFFPA16B000056761) $3,360,000

2. Lot 246 1958 BMW 507 Roadster Series II (CHASSIS NO. 70157) $2,175,000

3. Lot 142 1967 Ferrari 330 GTS (CHASSIS NO. 10773) $2,012,500

4. Lot 243 1948 Tucker 48 (CHASSIS NO. 1040) $1,600,000

5. Lot 238 1956 Bentley S1 Continental Drophead Coupe (CHASSIS NO. BC7LBG) $1,077,500

6. Lot 144 2017 Ferrari F12tdf (CHASSIS NO. ZFF81BFA3H0224226) $1,006,000

7. Lot 257 1930 Cadillac V-16 Sport Phaeton (ENGINE NO. 702401) $940,000

8. Lot 141 2012 Lexus LFA Nürburgring Package (CHASSIS NO. JTHHX8BH8C1000485) $885,000

9. Lot 163 1968 Ferrari 330 GTC (CHASSIS NO. 11517) $687,000

10. Lot 159 1971 Ferrari 365 GTB/4 Daytona NART Spider (CHASSIS NO. 14299) $670,500

RM Sotheby's continues its 2019 calendar with the company's first European auction of the year, set for 6 February in Paris during the world-famous Rétromobile show week. Held on the stunning grounds of Place Vauban in the city's center, the auction will present more than 80 of the finest sports, racing, and touring cars from both pre- and post-war periods. The Paris sale is led by a stunning 1987 Ferrari F40 LM, a two-time Le Mans entrant, alongside the first-ever Ferrari Special Projects car presented for public sale. The complete Paris catalogue is now available at rmsothebys.com.

Complete results from RM Sotheby's Arizona auction and additional information on all upcoming RM Sotheby's 2019 events are available at rmsothebys.com.

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About RM Sotheby's

RM Sotheby's is the world's largest auction house for investment-quality automobiles. With 40 years' experience in the collector car industry, RM's vertically integrated range of services, from private treaty sales and auctions (including both RM Sotheby's and RM Auctions events) to 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 Sotheby's is currently responsible for six of the top ten most valuable motor cars ever sold at auction. In February 2015, RM formed a strategic partnership with Sotheby's, uniting the two companies for the full calendar of future automobile auctions. For further information, visit rmsothebys.com.