Monterey, California. August 17th, 2008
Preeminent international auction house, RM Auctions, continued their
highly successful sales run in Monterey, California overnight with eleven
cars breaking the magic million dollar mark at the legendary ‘Sports &
Classics of Monterey’ auction event.
Held at the Portola Hotel & Spa in historic downtown Monterey, it was
standing room only at the two day sale as over 170 investment quality
collector cars crossed the block before an international audience. As the
gavel fell for the final time, total sales surpassed $42 million.
“RM’s Monterey auction continues to bring together private sellers,
longtime clients and end users, with cars changing hands and entering
new collections where they will be enjoyed and appreciated for years to
come,” said Ian Kelleher, Managing Director of RM Auctions.
“The strength of our European sales had a positive affect on the
weekend’s auction with many of our international clients in attendance.
The sales were inline with our expectations with several new records, and
with seven of the eleven million dollar sales being vintage Ferraris, results
indicate the continuing strength of the market for the world’s most famous
sports and racing marque,” he added.
The top seller of the sale was a show quality 1961 Ferrari 250 GT SWB
Berlinetta which brought a final bid of $4,510,000. Another highlight was
the 1961 Ferrari 400 Superamerica Coupe for an impressive $1,650,000.
Also attracting significant interest on the block were the prestigious luxury
cars – a 1933 Rolls-Royce Phantom II Special Town Car, which brought
$2,310,000, and a 1930 Duesenberg Model J Dual Cowl Phaeton for
Additional highlights included: an ultra rare 1948 Tucker Sedan which
achieved a new world record price of $1,017,500; a 1967 Ferrari 275
GTB/4 Berlinetta for $1,925,000; and a 1973 Ferrari 365 GTB/4 Daytona
Spyder which was won with a bid of $1,485,000.
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