SAN DIEGO, CA (June 21, 2010) – A total of 102 automobiles, including many high-horsepower Detroit muscle cars combined with a selection of AMG Mercedes-Benz and M-Powered BMWs, crossed the auction podium today at RM Auctions’ Classic Muscle & Modern Performance event, resulting in $6.9 million in sales and a 100 percent sell through rate.
”Overall, we saw some very strong prices for both select, rare and outstanding muscle cars as well as on the like-showroom-new, late model cars, and it was very encouraging,” Ian Kelleher, President and COO, RM Auctions.
Detroit Muscle entries were led by the Corvette marque’s overall solid showing at today’s auction, including achieving the top-seller of the day with a super-rare, tire-shredding 1969 Chevrolet Corvette L88 selling for $401,500. Other Corvette highlights include a 1969 Chevrolet Corvette 427/435 Convertible out-performing its high pre-sale estimate by fetching $231,000, and a 1967 Chevrolet Corvette 427/435 Roadster realizing $214,500. The late-model BMWs and Mercedes-Benz also enjoyed a strong performance.
RM’s San Diego event continues the company’s strong presence in California which has included a string of highly successful private collection sales in recent years.
RM’s busy summer season continues with two of its annual events: the Vintage Motor Cars of Meadow Brook held in conjunction with the Concours d’Elegance of America at Meadow Brook in Rochester, Michigan on July 24; and, the Sports & Classics of Monterey event in California, August 12 – 14, 2010.