Started this article to share an update on RM Auctions -- which you may have noticed is now co-branded as RM Sotheby's.
Just before the Amelia Island 2015 event in March, Sotheby's announced a 25-percent equity share purchase of RM, based in Blenheim, Ontario. Sotheby's is in the big three of global auction companies, so their interest in RM makes sense to broaden and co-mingle both buyer groups.
RM is certainly a powerhouse of an auction company, with its car sales generating massive interest among collectors and fans alike.
Amelia Island 2015 was no different: $60-million in sales in just a few hours.
Here is a ranker of the top 14 sale prices, with ten of those including some all-new photos from the event.
Which is your favorite? The Ferrari 250 Europa is probably the biggest charmer, despite earning much less than the green Ferrari that came in above $6-million for the number one slot.
RM Amelia Island 2015 - Top 10 Most-Valuable Auction Cars
Lot 145 | 2015 - Amelia Island | Saturday
1960 Ferrari 400 Superamerica SWB Cabriolet by Pinin Farina
Sold for $6,380,000
Lot 135 | 2015 - Amelia Island | Saturday
1955 Jaguar D-Type
Sold for $3,675,000
Lot 183 | 2015 - Amelia Island | Saturday
1972 Ferrari 365 GTB/4 Daytona Spider by Scaglietti
Sold for $3,300,000
Lot 138 | 2015 - Amelia Island | Saturday
1935 Mercedes-Benz 500/540 K Cabriolet A by Sindelfingen
Sold for $3,025,000
Lot 165 | 2015 - Amelia Island | Saturday
1931 Alfa Romeo 6C 1750 Gran Sport Spider by Zagato
Sold for $2,420,000
Lot 186 | 2015 - Amelia Island | Saturday
1938 Bugatti Type 57C Aravis Cabriolet by Gangloff
Sold for $2,337,500
Lot 152 | 2015 - Amelia Island | Saturday
1971 Lamborghini Miura SV
Sold for $2,310,000
Lot 160 | 2015 - Amelia Island | Saturday
1988 Jaguar XJR-9
Sold for $2,145,000
Lot 154 | 2015 - Amelia Island | Saturday
1967 Shelby 427 'Semi-Competition' Cobra
Sold for $2,117,500
Lot 180 | 2015 - Amelia Island | Saturday
1953 Ferrari 212 Europa Coupe by Vignale
Sold for $1,550,000
Lot 136 | 2015 - Amelia Island | Saturday
1930 Duesenberg Model J 'Sweep Panel' Dual-Cowl Phaeton by LeBaron
Sold for $1,155,000
Lot 142 | 2015 - Amelia Island | Saturday
1956 Mercedes-Benz 300 Sc Cabriolet
Sold for $1,100,000
Lot 167 | 2015 - Amelia Island | Saturday
1955 Austin-Healey 100S
Sold for $1,012,000
Sotheby’s Acquires an Ownership Interest in the World’s Leading Auctioneer of Premium Collectible Automobiles
by Sotheby's | 18 Feb 2015
Sotheby's and RM Auctions are pleased to announce the formation of a new strategic partnership as Sotheby's acquires a 25 percent ownership interest in the world's foremost collector car auctioneer, which will now be known as RM Sotheby's.
This long-term investment comes as the more than $2 billion market for the finest automobiles continues to grow, presenting increasing opportunities for both companies. Sotheby’s and RM have previously collaborated on a number of successful sales in both the United States and Europe, most notably the November 2013 Art of the Automobile auction in New York, which achieved nearly $63 million in just two hours and saw a new auction record set for a Ferrari 250 LM at $14.3 million.
Lot 145, Amelia Island | 1960 Ferrari 400 Superamerica SWB Cabriolet by Pinin Farina
Today’s announcement grows those previous partnerships and unites the two businesses for the full calendar of future automobile auctions. The first RM Sotheby's sale will take place in Amelia Island, Florida, March 14, with additional auctions in Fort Worth, Texas, Lake Como, Italy, Monterey, California, London, England and New York among others scheduled for later this year.
“Sotheby's is thrilled to join the clear market leader in this field,” commented Bill Ruprecht, Sotheby’s President, Chairman, and CEO. “RM has established a formidable position that will only be strengthened by this new phase in our relationship. Just last year, RM set a new benchmark for a collector car auction with their flagship Monterey sale totaling more than $140 million, eclipsing the previous record they had established in 2013. The incredible synergy between our businesses, including significant overlap of top collectors and a focus on new markets, will be further strengthened as we work together to expand the classic car collector base. RM’s ownership of the high end of the market coupled with our global client network positions us for great success at a time when the market for investment-quality motor cars has never been stronger.”
“Just last year, RM set a new benchmark for a collector car auction with their flagship Monterey sale totaling more than $140 million, eclipsing the previous record they had established in 2013.”
Bill Ruprecht, Sotheby’s President, Chairman, and CEO
Rob Myers, Chairman and Founder, RM Auctions added, “The partnership that has been formed between RM Auctions and Sotheby’s is undoubtedly the most effective way for us to reach the ever-growing worldwide audience of collectors who take a keen interest in the collector car asset class. No other organization in the world has a client base as far-reaching as Sotheby’s and since we have worked so closely and successfully with them in the past, it makes perfect sense that we form a strategic partnership that creates a truly worldwide platform for collector cars. It’s an exciting time in our company history, and for the hobby at large.”
Initially Sotheby’s will have a 25 percent ownership position in RM, governance participation and a comprehensive partnership agreement to work together to drive growth in the business. Over time, Sotheby’s will have opportunities to increase the ownership stake as the partnership evolves and grows.