RM Auctions and Sotheby's Stun the Market with Incredible $63 Million 'Art of the Automobile' Sale in New York

November 21, 2013 by RM Auction

• 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 $14,300,000 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 and www.sothebys.com

NEW YORK, New York (November 21, 2013) – 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 stunning automotive 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 250 LM 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.

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No less than 16 of the 31 automobile lots achieved in excess of $1,000,000, including:

Lot 141 - 1964 Ferrari 250 LM by Carrozzeria Scaglietti $14,300,000

Lot 122 - 1938 Talbot-Lago T150-C SS Teardrop Cabriolet by Figoni et Falaschi $7,150,000

Lot 136 -1959 Ferrari 250 GT SWB 'Competition' Berlinetta Speciale $7,040,000

Lot 134 - 1954 Maserati A6G/2000 Spyder by Carrozzeria Zagato $4,455,000

Lot 121 - 1955 Ferarri 250 Europa GT Coupe $2,420,000

Lot 117 - 1936 Delahaye Type 135 Competition Court Teardrop Coupé by Carrosserie Figoni et Falaschi $2,420,000

Lot 112 - 1933 Rolls-Royce Phantom II Continental Sports Coupé by Freestone & Webb $2,420,000

Lot 126 - 2011 Bugatti Veyron 16.4 Grand Sport Bleu Nuit $2,310,000

Lot 111 - 1956 Aston Martin DB2/4 MK ll 'Supersonic' by Carrozzeria Ghia $2,035,000

Lot 110 - 1961 Ferrari 250 GT Series II PF Cabriolet $2,035,000

Lot 124 - 1933 Duesenberg Model SJ Beverly $1,760,000

Lot 127 - 1958 BMW 507 Series ll Roadster $1,650,000

Lot 109 - 1960 Mercedes-Benz 300 SL Roadster $1,650,000

Lot 120 - 1955 Mercedes-Benz 300 SL Gullwing $1,265,000

Lot 144 - 1933 Auburn Twelve Custom Speedster $1,219,000

Lot 139 - 1964 Chevrolet CERV II $1,100,000

In total a staggering 11 cars achieved world record prices:

Lot 109 – 1960 Mercedes-Benz 300 SL Roadster $1,650,000 – Record for a 300 SL Roadster at auction

Lot 112 – 1933 Rolls-Royce Phantom II Continental Sports Coupe $2,420,000 – Record for a Rolls-Royce Phantom II at auction

Lot 114 – 1933 Auburn Twelve Custom Speedster - $1,210,000 – Record for an Auburn Twelve Speedster at auction

Lot 115 – 1932 Ford V-8 Cabriolet - $319,000 – Record for an unmodified 1932 Ford at auction

Lot 122 – 1938 Talbot-Lago T150-C SS Teardrop Cabriolet - $7,150,000 – Record for a Talbot-Lago T150-C SS at auction

Lot 127 – 1958 BMW 507 Series II Roadster - $1,650,000 - Record for a BMW 507 at auction

Lot 128 – 1958 Oldsmobile Ninety-Eight Convertible - $258,500 - Record for a 1958 Oldsmobile Convertible at auction

Lot 130 – 1954 Pegaso Z-102 Series II Berlinetta - $797,500 – Record for the model at auction

Lot 134 – 1955 Maserati A6G/2000 Spyder - $4,455,000 - Record for a Maserati A6G/2000 Spyder at auction

Lot 138 – 1966 Jaguar E-Type Series I 4.2-Litre Roadster - $467,500 - Record for Jaguar E-type (non-competition model) at auction

Lot 141 – 1964 Ferrari 250 LM - $14,300,000 – Record for a Ferrari 250 LM at auction

Art of the Automobile follows a stunning three day exhibition in Sotheby's 10th floor gallery, which also featured a fascinating symposium presented to in excess of 700 guests on Tuesday evening. The sale caps off a record-setting year for RM Auctions, which included a $125 million sale in Monterey, California in August - the highest grossing collector car auction in history. RM Auctions will kick off its 2014 auction calendar at the beautiful Arizona Biltmore Resort & Spa in Phoenix, January 16 - 17. RM's 15th annual Arizona sale is closely followed by the company's debut Paris sale, February 5, during the world-famous Retromobile week. Full details for upcoming events are available online at www.rmauctions.com.

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 six 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.

About Sotheby's

Sotheby's has been uniting collectors with world‐class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in eight different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow program allows visitors to view all auctions live online and place bids in real‐time from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full‐service art financing company, as well as private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Contemporary Art department, as well as Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 90 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).

Photo Caption: Top left - The top-selling 1964 Ferrari 250 LM, Bottom right – the packed auction room at RM Auctions and Sotheby's Art of the Automobile sale (Photo Credit Darin Schnabel © 2013 Courtesy of RM Auctions)