The Four Million Dollar Car Club – RM Auctions At Monterey [w/ VIDEO]
By Joey Leh, Photography by Aaron Kupferman – Motorsportlens.com and the author
You’ve seen them on TV, broadcast for hours at a time, and in magazines the world over. They’re high-end car auctions, the discerning gentleman’s counterpoint to buying cars on Ebay Motors and Craigslist.
Contrary to police impound auctions, which often move salvaged husks and chalk-outlined specials, high-end car auctions cater to the enthusiast and collector communities. This means well-restored, rare classics that are meticulously cared for and boast lengthy histories in the public eye.
While in Monterey, California for the Rolex Monterey Motorsports Reunion, we stopped at the downtown Portola Hotel & Spa for the 2010 Sports & Classics of Monterey, put on by RM Auctions.
A multi-faceted company, RM is an automotive auction house, restoration company, in-house magazine publisher, and operator of the RM Classic Car Exhibit. While in Monterey, RM posted $67 million in auction sales and took its fourth “Best of Show” award at the Pebble Beach Concours d’Elegance with a 1933 Delage D8S de Villars Roadster.
A worldwide company, RM has a nationwide program of auctions, as well as events in Monaco and London. Their specialty is very high-end machines and ultra-rare pristine restorations. If you’re looking for a flamed Dodge Stealth or Fire Chicken, look elsewhere.
Photo by Aaron Kupferman - Motorsportlens.com
RM sold five cars in Monterey for more than $2 million each with the top spot 1938 Talbot-Lago T150-C Lago Speciale Teardrop Coupe going for a cool $4.6 million dollars. Even if you’re paying by the letter, that’s a good stack of cash. To put that into perspective with a more modern machine, a 2007 Ferrari FXX Evoluzione went for “just” $1.9 million dollars.
“We are thoroughly pleased with the results from the weekend’s sale. They build upon RM’s seven previous successful sales this year, including the record-breaking inaugural Monaco event, and are a reflection of the hard work and dedication of the entire RM team,” says Rob Myers, Founder and Chairman, RM Auctions.
Taking over prime real estate in the heart of Monterey, RM Auctions is a well-oiled auctioning machine. From an outdoor viewing and inspection lot (each car is individually covered at night), cars are driven, in order, inside the hotel and on to a rotating viewing platform.
Registered auction bidders are given a pamphlet outlining each car’s specific history and containing a glamour shot of each. Mysterious and oversea bidders also get the opportunity to bid with on-site agents linked via phone. Once on the stage up front, cameras shoot multiple rotating images of the cars on to giant projection screens. Some of the cars even get professionally produced introduction videos on par with TV commercials.
Photo by Aaron Kupferman - Motorsportlens.com
The auctioneer does his best to vividly describe each vehicle and lighten the mood with quips and jokes but his primary purpose is all business. The furious pace of the auction requires constant attention and a second by second pace that forces bidders into split second decisions. This level of impulse and reflex is the draw and excitement of the car auction and makes each purchase a relieving battle won.
Although we didn’t spot too many cars that we could afford, or any to tell the truth, there were some true gems on hand. A John F. Kennedy “bubble top” Lincoln shared the weekend with a real Shelby Cobra USRRC roadster, Ferrari 250 GT LWB, Shelby GT350, an entire collection of Ford concept cars (including a beautiful $101,750 Lincoln MK9), 1928 “Al Capone” Cadillac, Ferrari Enzo, Ferrari 512 BB/LM Competition Berlinetta, and a cute 1970 Subaru 360 police car.
There was even a Porsche 911 GT3R racecar at the bargain price of just $96,250. Lightly pre-owned from what we heard. In this crowd, that just happens to be a steal.
RM Auctions’ 2010 Sports & Classics of Monterey $1 Million Dollar+ Sales
Lot 359: 1938 Talbot-Lago T150-C Lago Speciale Teardrop Coupe – $4,620,000
Lot 351: 1954 Ferrari 375 MM Berlinetta – $4,620,000
Lot 353: 1949 Delahaye Type 175 S Roadster by Saoutchik – $3,300,000
Lot 360: 1959 Ferrari 250 GT LWB California Spyder – $2,612,500
Lot 347: 1955 Jaguar D-Type – $2,090,000
Lot 365: 2007 Ferrari FXX Evoluzione – $1,925,000
Lot 335: 1959 Ferrari 410 Superamerica Series III Coupe – $1,760,000
Lot 345: 1933 Packard Twelve Coupe – $1,622,500
Lot 346: 1958 Ferrari 250 GT Series I Cabriolet – $1,622,500
Lot 255: 1964 Shelby Cobra USRRC Roadster - $1,595,000
Lot 342: 1954 Ferrari 500 Mondial Berlinetta – $1,567,500
Lot 341: 1933 Duesenberg SJ Riviera Phaeton – $1,430,000
Lot 349: 1966 Ferrari 275 GTB/6C Alloy Berlinetta – $1,155,000
Lot 339: 1966 Ferrari 500 Superfast – $1,127,500
Lot 246: 1948 Tucker 48 Sedan – $1,127,500
Lot 363: 1967 Ferrari 275 GTB/4 Berlinetta – $1,045,000
Contact
RM Auctions
www.rmauctions.com
