RM Sotheby's Monterey sale is biggest car auction in history

Smitzy

Smitzy

2015-08-20 08:48:14

RM Sotheby's has conducted the biggest-selling car auction in history in Monterey.

As the dust settled on a spectacular weekend of action in Monterey, RM Sotheby's were celebrating a result of $172.9 million: the biggest-ever total generated by a collector car auction.

The two-day sale saw 129 cars sold, with 36 vehicles achieving seven-figure sums and four topping the $10 million mark. RM Sotheby's was responsible for six of the ten highest prices achieved throughout Monterey Car Week, including its top-selling lot - a historic 1964 Ferrari 250 LM.

The car sold for $17.6 million, as part of a private collection known as the Pinnacle Portfolio which realized a combined total of $75.4 million – the highest price ever achieved by a private collection in a single-day sale.

The second car to achieve an eight-figure price was a 1998 McLaren F1 ‘LM Specification’, described as "the greatest automobile ever built", which sold for $13.75 million; followed by a 1953 Jaguar C-Type Works Lightweight which brought $13,200,000, making it the world's most expensive Jaguar ever sold.

Away from the auction block, RM also celebrated victory at the prestigious Pebble Beach Concours d’Elegance, as a 1924 Isotta Fraschini Tipo 8A F. Ramseier & Cie Worblaufen Cabriolet claimed the coveted 'Best of Show' title. The car was freshly restored by RM Auto Restoration, marking the sixth time an RM restoration project had won in the past 15 years.

“We’ve certainly reached new heights with this year’s Monterey sale, setting multiple new benchmarks,” said Ian Kelleher, Managing Director, RM Sotheby’s West Coast Division.

“The results truly speak for themselves and reflect our commitment to bringing not only the best to the market, but backing our product by extensive research and documentation. It was definitely a weekend for the history books, and to cap it off with a Best of Show win at the Pebble Beach Concours d’Elegance made it all the more thrilling and memorable.”

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