RM Sotheby’s registers record-breaking sales at the Monterey Car Week
Nine out of ten most expensive cars sold were RM Sotheby’s lots
The famous auction house RM Sotheby’s considers the annual Monterey Car Show its flagship event for exotic and luxury car sales. The recently concluded one saw the auction house register an astonishing $239,258,340 in total sales over the company’s record-breaking three-night auction in Monterey, California.
Over 95 per cent of all listed lots were sold across the three-day auction. While the first auction night brought sales worth over $41 million, the second and third nights succeeded with $75 million and #123.3 million, respectively. Upon summation, the $239.2 million worth of auction sales was more than all other Monterey auctions combined. RM Sotheby’s even broke the world record for the highest-grossing automotive auction ever!
These record-breaking figures consisted of a host of exotic and historic cars going under the hammer. The most expensive car of Monterey Car Week 2022, the 1955 Ferrari 410 Sport Spider by Scaglietti, also happened to be an RM Sotheby’s unit fetching just over $22 million. The 1998 Ferrari F300 Formula 1 car, another Sotheby’s lot, became the fourth most expensive Formula 1 car ever, bringing in $6.2 million. Even the one-off 2022 Porsche 911 ‘Sally Special’, sold under the RM Sotheby’s banner for $3.6 million, managed to acquire the title of the most expensive factory new Porsche ever sold. By the end of the three-day affair, RM Sotheby’s assigned lots comprised nine of the ten most expensive cars sold.
Besides garnering record sales, RM Sotheby’s in-house restoration arm, RM Auto Restorations, also had a reason to celebrate as it was adjudged the “Best of Show”. Courtesy of a no-expenses-spared job on a 1932 Duesenberg Model J Figoni Sports Torpedo, the restoration arm received the award for the seventh time, setting yet another record for most wins at the Pebble Beach Concours d’Elegance for any restoration shop.
Gord Duff, Global Head of Auctions, stated, “The entire team will never forget this week after months of preparation. What RM Sotheby’s and RM Auto Restorations achieved at Monterey Car Week is a direct reflection of the drive, passion, and unparalleled expertise in our field.”
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