Auctions America Touts Record YearPosted: Updated:
Auburn-based Auctions America is celebrating a record year in 2013, posting more than $73 million in auction sales. The company says its flagship Auburn Fall sale brought in more than $28 million, making it the most successful event in its history. The company says the event's attendance of more than 70,000 is also a record.
December 17, 2013
BLENHEIM, Ontario - The RM group of companies cemented its position as the global leader in the collector car auction and restoration business in 2013, by realizing an exceptional $442 million in auction sales as well as clinching an unprecedented fifth 'Best of Show' win at the prestigious Pebble Beach Concours d’Elegance. Representing an all-time high for the hobby at large, the impressive sales figures bested the companies’ 2012 performance by more than 20 percent, and included the presentation of 3,932 vehicles at 16 separate events on two continents.
"The RM group of companies enjoyed an earth-shattering year, setting records in every category of the collector car hobby," says Rob Myers, Chairman & Founder. "Our global teams and specialists have shown that from award-winning restoration and record-setting auctions, to specialized private collection events, memorabilia sales, and motor car exhibitions at Sotheby’s, we are the market leader. We’re thrilled with this success and extend our gratitude to our many clients and friends who have entrusted us with their extraordinary cars and collections over the past year."
RM’s focus on the top tier of the market, coupled with its innovative presentations, and unparalleled client service yielded spectacular results in 2013. Of the combined results tally, RM was singularly responsible for more than $368 million with an annual sell-through of 94 percent. This was generated by the sale of 885 vehicles at 10 separate auction events on two continents. As many as 78 vehicles achieved individual million-dollar-plus sales, of which nine lots garnered prices of more than $5 million and three lots exceeded $10 million with numerous new records established. Illustrating the company’s global reach and international clientele, entries were handpicked from 17 countries around the world, with bidders hailing from 52 countries.
RM’s 2013 season was highlighted by a blockbuster sale in Monterey, California during the world-famous Pebble Beach Concours d’Elegance week in August, which realized a spectacular $125 million in total sales to enter the history books as the highest grossing collector car auction of all time. Top sale honors went to a 1967 Ferrari 275 GTB/4*S N.A.R.T. Spider which achieved an astounding $27,500,000 to earn the title as most valuable road-going car ever sold at auction.
RM continued the momentum in New York City in November with its pioneering Art of the Automobile exhibition and sale held in conjunction with Sotheby’s. Dedicated to presenting the automobile as an art form all its own, the auction was the first international event of its kind to have such a strong focus on design. Total sales surpassed $62.79 million in just two hours of furious bidding, while the event set a new standard for collector car auctions with its unique blend of exceptional quality and breathtaking presentation. A short video recap is available for viewing here.
Beyond its established events, which also saw RM continue to firmly put its stamp on the European market, the company added two successful single-owner sales to its portfolio in 2013: The Bruce Weiner Microcar Museum and The Don Davis Collection. Each witness to numerous new auction records and international attention, they generated $9.1 million and $21.1 million in sales respectively to reinforce RM’s dominance in the private collection event segment.
RM Auctions Top Five Sales of 2013:
1. 1967 Ferrari 275 GTB/4*S N.A.R.T. Spider $27,500,000 Monterey
2. 1964 Ferrari 250 LM $14,300,000 Art of the Automobile
3. 1953 Ferrari 340/375 MM Berlinetta 'Competizione' $12,812,800 Villa Erba
4. 1953 Ferrari 375 MM Spider $9,075,000 Monterey
5. 1928 Mercedes-Benz 680S Torpedo Roadster $8,250,000 Monterey
Auctions America also enjoyed a vibrant 2013, posting record numbers with more than $73.7 million in auction sales and an annual sell-through of 77 percent. Unit volume was in excess of 2973 vehicles along with assorted memorabilia, sold at six separate auction events across the United States. With bidders from 26 countries around the world, as well as from all 50 states across the U.S., the company continued to welcome significant levels of new interest to its sales, most notably at Fort Lauderdale, where a staggering 42 percent of bidders represented first time clientele.
Auctions America's 2013 season was headlined by stunning results and record attendance at its flagship Auburn Fall sale, where the company enjoyed its most successful event to date posting more than $28 million in sales. More than 70,000 enthusiasts flocked to the historic Auburn Auction Park in Indiana for the multi-day event, surpassing 2012 attendance by nearly 40 percent. The Auctions America team also expanded its national footprint in 2013, hosting a highly successful debut in California to set a new standard for Los Angeles collector car auctions. The company further extended its reach in the marketplace via exclusive live television coverage of its California and Auburn Fall events on the Sports Emmy Award-winning NBC Sports Network, delivering the Auctions America experience to more than 80 million homes across the U.S. Details on television coverage for 2014 will be announced shortly.
Auctions America Top Five sales in 2013:
1. 1930 Duesenberg Model J Convertible $1,540,000 Auburn Fall
2. 1929 Duesenberg Model J Sports Sedan $962,500 Auburn Fall
3. 1955 Mercedes-Benz 500 SL Gullwing $880,000 Fort Lauderdale
4. 1935 Duesenberg Model SJ Dual-Cowl Phaeton $858,000 Auburn Fall
5. 1964 Shelby 289 Cobra $825,000 California
RM Auto Restoration
2013 was also a momentous year for RM Auto Restoration with the masterful team receiving numerous new accolades to acknowledge the supreme quality of their work and craftsmanship. The team’s pinnacle achievement came in August when the spectacular 1934 Packard 1108 Twelve Dietrich Convertible Victoria, owned by Joseph and Margie Cassini III, and freshly restored by the RM team, was judged Best of Show at the prestigious Pebble Beach Concours d’Elegance. The award represents an unprecedented fifth Pebble Beach Best of Show for RM Auto Restoration in the new millennium, firmly establishing the team as the leading restoration facility in the world.
2014 Auction Schedules
RM Auctions and Auctions America look forward to continuing their mission to unite collectors with the world’s finest automobiles in 2014. In addition to an exciting roster of annual events, the RM Auctions team will expand its European presence with a new annual sale in Paris, France, February 5, during the world-famous Retromobile week. Auctions America will also introduce a new event – an online memorabilia auction – January 24 - 25, 2014 as part of its plans to grow its memorabilia division in response to client demand. Complete event schedules are available online at www.rmauctions.com or auctionsamerica.com.
Source: RM Auctions