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RM POSTS STRONG RESULTS
IN HERSHEY
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RM’s
‘Vintage Motor Cars of Hershey’ event posts in excess of $9.1
million in sales with 94% of motor cars sold
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Top
seller: 1931 Marmon Sixteen Convertible Coupe brings $517,000
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Numerous lots exceed pre-sale estimates, including a rare Miller 91 Front
Engine for $297,000 and a 1909
Stanley Model E2 Runabout for
$176,000
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Two-day
event kicks off with successful automobilia auction resulting in over $400,000
in sales
HERSHEY, Pennsylvania
(October 10, 2009)
– International auction house, RM Auctions, has continued its strong 2009 sales
run, posting in excess of $9.1 million
in sales with an impressive 94% of motor cars sold at the Vintage Motor Cars
of Hershey event in Pennsylvania this week.
Held in conjunction with the
famed AACA Eastern Division Fall Meet, the two-day auction kicked off Thursday,
October 8, with the highly successful sale of a private East Coast collection of
automobilia, which achieved over $400,000
in total sales. Continuing the momentum, yesterday's auction presented some 50
lots of memorabilia and 136 motor cars
to a packed audience.
The evening’s top sale was a
highly desirable 1931 Marmon Sixteen Convertible Coupe which
realized $517,000, while a largely unrestored 1933 Cadillac V16
Convertible
Victoria brought $412,500.
The handsome Cadillac V16 was one of just two examples built and was originally
owned by
Hollywood actor Robert Montgomery.
Another highlight for
enthusiasts was the Miller 91 Front Drive Engine,
considered one of the most important Miller artifacts to come to the market in
decades. Attracting spirited bidding, the Miller engine nearly tripled its
original estimate, selling
for $297,000. A 1909
Stanley Model E2 Runabout also
well-exceeded its pre-sale estimate with a winning bid of $176,000.
“Despite the continuing
economic concerns, RM Auctions' impressive sales results in both Los Angeles,
California and Hershey, Pennsylvania, continue to solidify and encourage
confidence in the collector car market”, said Ian Kelleher, President &
Chief Operating Officer of RM Auctions.
“Our Hershey
auction was incredibly well-attended by bidders and buyers from around the
world in a standing-room only atmosphere. We look forward to building
on the strong results and welcoming collectors to our
London auction later this month,”
he added.
Additional auction highlights
included an award-winning 1920 Mercer Series 5 Sporting for
$242,000; a historic 1949 Belanger
Special Indy Race Car with impressive race history for $192,500;
and a 1930 Bugatti Type 44 Touring for $187,000.
RM Auctions will conclude its
2009 auction calendar later this month with the return of the distinguished
Automobiles of London event, October 28. Presented in association with
Sotheby’s, over the past three years the London auction has carved a reputation
as one of Europe’s leading collector car events for the highest quality
automobiles. This year’s event is set to continue the grand tradition with over
80 of the world’s finest collector cars to go under the hammer.
Full sales results from RM’s
Vintage Motor Cars of Hershey event will
be posted online at
www.rmauctions. For further information on RM's upcoming
London auction, visit
www.rmauctions.com
or call
+44 (0) 20 7851 7070.
About RM Auctions
Celebrating 30 years in the
collector car industry, RM Auctions and its associated companies are responsible
for acquisitions, restorations and sales of the world’s rarest and most valuable
vintage automobiles, including record-breaking sales in
Maranello,
Italy and
London,
England. RM’s
restoration division achieved unprecedented accolades in 2006, when the Company
earned “Best of Show” honors at the world’s top three collector car events in a
single year.
RM
Auctions
(News provided by RM Auctions) |
