Duesenberg Tops the Charts at RM Amelia

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AMELIA ISLAND, FLORIDA (March 15, 2009) – Vintage car collectors from around the globe descended on Florida for Saturday’s RM Auctions Automobiles of Amelia Island event which achieved over $10 million in sales with a sell through rate of 78%.

The single-day auction, which presented 107 significant motor cars and a selection of vintage memorabilia, launched an exciting motoring weekend in Northern Florida, which is capped off by today’s world famous Amelia Island Concours d’Elegance.

Illustrating the continuing enthusiasm and interest in the collector car hobby, the overflowing auction room was standing room only for the duration of the event. In addition to onsite bidders, the event also attracted a large volume of Internet and telephone bids.

“The Amelia Island vintage car weekend is a permanent and popular fixture on the automotive calendar, and enjoyed national and international attendance,” said Ian Kelleher, President and Chief Operating Officer of RM Auctions.

“Today’s results indicate the market remains stable for quality collector cars with continued passion for the hobby from around the world,” he added.

Headlining the sale was a historic 1930 Duesenberg Model J Murphy Convertible Coupe achieving an impressive $1,072,500, and a multiple award-winning 1935 Auburn 851SC Boattail Speedster selling for $566,500.

A series of nine classic Fords from the private collection of Mr. Grant Oakes changed hands for a total of $700,000. Highlighting the collection, an award-winning 1932 Ford Model 18 Deluxe Three-Window Coupe doubled its original estimate selling for a record price of $165,000.

“RM continues to be a trusted custodian of private collections and we are excited to have been selected to represent yet another exceptional single owner collection in the fall of 2009,” added Kelleher

Other highlights included a rare 1941 Chrysler Newport Dual Cowl Phaeton for $687,500, an award-winning and beautifully restored 1966 AC 427 Cobra for $675,000, the legendary 1911 Oldsmobile Autocrat ‘Yellow Peril’ Race Car for $660,000, a factory certified 1966 Ferrari 275 GTS for $445,500, and a stylish 1937 BMW 328 Cabriolet for $302,500.

RM Auctions returns to Canada next month for the popular Classic Car Auction of Toronto, April 3 to 5, closely followed by the Classic Car Auction of Michigan, in Novi, just outside Detroit, April 25 to 26. In May, RM Auctions, in association with Sotheby’s, returns to Maranello, Italy for the third annual Ferrari Leggenda e Passione event.

SCM will have results posted in the next day.