RM Totals $36.4m at Single-Day Arizona Biltmore Sale

RM Auctions kicked off its 2013 auction season on a strong note, realizing an impressive $36.4 million in sales* with a strong 89% of all lots sold at its single-day Phoenix, Arizona sale.

Held at the prestigious Arizona Biltmore Resort & Spa, the results represent an all-time high for the international auction house in Arizona, and more significantly, a more than 42% increase over the company’s 2012 sale, generated no less by a smaller, more elite offering as RM continued to focus on the top tier of the market.

Headlined by the record-setting sale of the 1960 Ferrari 250 GT SWB Berlinetta ‘Competizione’, as many as eight automobiles achieved million-dollar-plus results, with numerous new auction records set. Reflecting RM’s international clientele, bidders hailed from 17 countries around the world, with a strong showing of European enthusiasts as well as collectors from as far afield as Brazil, Argentina and Australia.

“Our 14th foray into Arizona this year was as exciting as ever – our clients from around the world were joined by our equally international team of specialists, from California to the U.K. and it made for a spectacular, history-making event,” says Shelby Myers, Managing Director, RM Auctions – California.

“We are very pleased with the results. We strategically limited our sale this year to a smaller, more exclusive offering than previous years, yet the sales tally for our single-day event was up on our 2012 total by more than 42 percent, a significant increase that reflects not only the exceptional quality of the automobiles presented, but also illustrates the continued strength of the market for ‘best of category’ examples. The Arizona auction week is widely regarded as a barometer for the new collector car season; the results from our Biltmore sale paint a very positive forecast for 2013 and we look forward to continuing the momentum at our upcoming sales in Georgia and Florida,” adds Myers.

Top sales honors at the January 18 auction went to the sale’s catalogue cover car – the alloy-bodied 1960 Ferrari 250 GT SWB Berlinetta ‘Competizione’, chassis 1905 GT. Widely revered by collectors as one of Ferrari’s most prized berlinettas, 1905 GT spurred a fierce bidding war between multiple collectors in the room and on the phones. One of the more prominent bidders was a European entrepreneur who built much of his fortune through casinos, bringing a distinct air of high-stakes ambition to the proceedings. Eventually, the car sold to its fifth owner for a remarkable $8,140,000. The outstanding sales price represents a new world record for a Ferrari 250 GT SWB Berlinetta sold at auction, a fitting result given the mix of personalities and backgrounds drawn to such an exclusive event. Continuing RM’s strong track record for Ferraris in Arizona, the single-day auction presented no less than 11 examples from the famed Italian marque. Among a long list of additional highlights were a truly stunning, Ferrari Classiche certified 1967 Ferrari 275 GTB/4 for $1,842,500 and a magnificently restored, concours-quality 1954 Ferrari 250 Europa Coupe for $1,017,500.

American-built automobiles also attracted strong attention at RM’s Arizona sale. Headlining this group was a genuine and fully documented 1967 Shelby 427 ‘Semi-Competition’ Cobra, one of just 29 S/C Cobras built, which well-exceeded its pre-sale estimate to garner a final sales price of $2,007,500. A 1931 Duesenberg Model J Derham Tourster, offered for the first time in more than 40 years, was also hotly contested, realizing a strong $1,320,000.

RM Arizona: Million-Dollar-Plus Sales:

1. Lot 164: 1960 Ferrari 250 GT SWB Berlinetta ‘Competizione’ – $8,140,000
2. Lot 122: 1967 Shelby 427 ‘Semi-Competition’ Cobra – $2,007,500
3. Lot 145: 1967 Ferrari 275 GTB/4 – $1,842,500
4. Lot 125:  1938 Delahaye 135 MS Coupe – $1,540,000
5. Lot 152:  1966 Ferrari 275 GTB – $1,320,000
6. Lot 167:  2003 Ferrari Enzo – $1,320,000
7. Lot 141:  1931 Duesenberg Model J Derham Tourster – $1,320,000
8. Lot 133:  1954 Ferrari 250 Europa Coupe – $1,017,500

Beyond the group of million-dollar-plus sales, other highlights included a rare 1953 Allard JR ‘Le Mans’ Roadster, one of just seven built, for $605,000 – a world record for an Allard sold at auction, and a stunning 1955 Lancia Aurelia B24S America Spider, arguably the most desirable post-war Lancia, for $825,000 – a world record for a Lancia Aurelia B24S sold at auction. Full results from the Arizona sale will be posted online at rmauctions.com.

RM Auctions continues its 2013 calendar of events, February 15-16 with the highly anticipated presentation of the Bruce Weiner Microcar Museum, the world’s largest collection of the world’s smallest cars, in Madison, Georgia (www.handlewithfun.com), closely followed by its annual Amelia Island, Florida sale, March 9, held in conjunction with the renowned Amelia Island Concours d’Elegance.

About RM Auctions

RM Auctions is the world’s largest auction house for investment-quality automobiles. With over three decades of experience in the collector car industry, RM’s vertically integrated range of services, from restoration to private treaty sales, auctions, estate planning, and financial services, coupled with an expert team of car specialists and an international footprint, provide an unsurpassed level of service to the global collector car market. RM proudly holds five of the top 10 all-time records for the most expensive motor cars sold at auction. RM’s restoration division has achieved unprecedented accolades earning “Best of Show” honors at the world’s top concours events, including four wins at the prestigious Pebble Beach Concours d’Elegance. For further information, visit rmauctions.com, find us on Facebook, or follow us on Twitter @rmauctions.

*Results are listed in USD and inclusive of 10 percent buyer’s premium

**Photo caption: The record-setting 1960 Ferrari 250 GT SWB Berlinetta ‘Competizione’ (credit – Eugene Robertson © 2013, courtesy RM Auctions)