Phoenix, Arizona, January 19, 2009
The recent Automobiles of Arizona event illustrated the continued strength
and stability of the global collector car market as RM Auctions presented its
10th annual auction event in Phoenix last week.
Held January 16th at the prestigious Arizona Biltmore Resort and Spa, it
was standing room-only during the single-day event as 122
investment-quality motor cars were presented for auction. The eight-hour
sale attracted a record number of bidders from around the world to
illustrate continued enthusiasm and interest in the global collector car
hobby. As the gavel fell for the final time of the day, total sales surpassed
$18 million with a strong sell-through rate of 83 percent of cars sold.
“Overall, our Arizona auction was a very strong sale in terms of sales
percentage and was well attended, attracting record bidder registrations .
Numerous examples exceeded their pre-sale estimates and many of the
cars that some considered to be 'sensitive' in the market sold very well,”
said Ian Kelleher, newly appointed President and Chief Operating Officer of
RM Auctions.
“There is continued interest in the Corvette Grand Sport and we expect it
will change hands in the near future,” he added.
The top seller of the day was a superb 1967 Ferrari 275 GTB/4 Berlinetta
which achieved $918,500. Other highlights included the rare, speed
record-breaking 1954 Dodge Firearrow III Sports Coupe Concept by Ghia
which brought $880,000; and a beautifully restored 1937 Delage D8-120
Aerosport Coupe which sold for $825,000.
Also attracting significant interest and strong prices was the distinguished,
private Atwood Collection, which represented a lifetime of discerning
collecting by the late Dr. Barbara Mae Atwood. Comprising of 24 of her
most treasured automobiles, the collection included a magnificent
selection of pre-war American cars, each representing the epitome of
motoring luxury for their respective marques. Highlights included a 1932
Stutz DV-32 Super Bearcat, which exceeded estimate to sell for
$594,000; a 1929 Graham-Paige Dual Cowl Phaeton for $297,000 and a
1935 Cadillac V16 Imperial Convertible Sedan for $473,000.
"The Atwood Collection is a great example of the type of private collections
for which RM Auctions is known,” added Kelleher.
"Well promoted and received, once again it proved to be one of the
strongest areas of the market. The selection of cars and their rarity, coupled
with the fact that many had been hidden away and were offered for the first
time in a number of years, attracted exceptional values with 80 percent of
the cars in the collection selling for above initial estimate”.
RM Auctions’ will head to Florida next month for the highly anticipated
Collector Cars of Fort Lauderdale event, to be held February 6th-8th at the
Greater Fort Lauderdale / Broward County Convention Center. Over 400
collector cars are set to cross the block during the Fort Lauderdale event,
including a matching pair of ‘his and hers’ 1966 Ford Mustang
Convertibles built by the legendary George Barris for entertainment icons
Sonny and Cher.
All Lots at one glance
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