RM Achieves Impressive 100% Sell-Through at Hershey Auction

Hershey, PA – October 10, 2010 -– RM Auctions, the world’s largest collector car auction house, achieved a successful 100% sell-through rate at its Hershey, Pennsylvania sale last week, with all 297 lots presented exchanging hands for a total of $8.8 million in sales.

Highlighted by a wonderful series of Brass Era automobiles, the two-day sale saw over 140 vehicles, joined by a selection of vintage motorcycles and automotive-themed memorabilia, cross the auction podium before a packed house, with all lots finding new homes. Bidders in the room were joined by those on the phone and via the Internet, with interest received from 18 countries around the world, including as far away as Argentina, Turkey and Australia.

Top sale honors went to a majestic and well-documented 1929 Duesenberg Model J Convertible Coupe, J194, from the estate of Mr. John O’Quinn, which went to a telephone bidder for $748,000. A London-to-Brighton eligible 1903 Packard Model F Rear-Entry Tonneau, offered from the same collection, exceeded its pre-sale estimate selling for $374,000 to lead the strong results achieved for the selection of Brass Era vehicles.

“We are thrilled with the results from our Hershey sale, particularly the 100% sell-through which reflects not only the quality of the consignments, but our team’s commitment to providing accurate estimates and effective marketing campaigns. The sale enjoyed strong interest from around the world, with bidder numbers surpassing those from the 2009 sale. In addition, over 25 percent of bidders represented new clientele,” says Rob Myers, CEO and Founder, RM Auctions.

“The results also reflect a continued strong interest in the early segment of the market. The Brass Era vehicles were the toast of the sale and well-matched to the Hershey crowd who recognized their incredible quality and rarity, resulting in lively bidding and many lots exceeding expectations,” Myers adds.

Additional sale highlights included an exceptional selection of vehicles from the private collection of Gerald Sichel, including 20 cars that predated 1910. Well-received by the audience, numerous examples exceeded their pre-sale high estimates, including a 1907 Cadillac Model K Light Runabout ($66,000); a 1912 Autocar 14-Passenger Bus ($52,250); a 1911 E-M-F 30 Coupe ($50,600); a 1932 Packard Light Eight Sedan ($47,300); and, a 1915 Chevrolet Amesbury Special Roadster ($38,500).

“We are extremely pleased with the results achieved for our prized collection at RM’s Hershey sale,” said Steve Sichel on behalf of the Sichel family following the auction.

“We went with RM as they are the specialists and they certainly did not disappoint. We can say nothing but excellence for all aspects of the sale, from the staff to the care and handling of the collection to the auction itself. It was a first class experience and the results exceeded all of our expectations.”

RM will round out its 2010 auction calendar over the coming weeks with two important events – Automobiles of London, to be held October 27 in the UK, and The Milton Robson Collection, scheduled for November 13 in Gainesville, Georgia, USA. Further details on both events, including a full car list and digital auction catalog are available online at www.rmauctions.com.

Full results from RM’s Vintage Motor Cars of Hershey can be seen here.

* Please note, results are listed in US Dollars and include 10% buyers premium.

** Photo caption: Top seller – The 1929 Duesenberg Model J Convertible Coupe sold for $748,000.

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