$63 million Art of the Automobile sale stuns market

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$63 million Art of the Automobile sale stuns market

Nearly $63 million of sales was generated in two hours of bidding at RM Auctions and Sotheby’s Art of the Automobile auction in New York on Thursday November 21.

Records tumbled with the historic 1964 Ferrari 250 LM by Carrozzeria Scaglietti achieving $14.3million while the 1938 Talbot-Lago T150-C SS Teardrop Cabriolet by Figoni et Falaschi sold for just over $7million.  93 percent of all lots sold to an international audience of bidders representing 17 countries

The 31 hand-picked automobiles, two motorcycles and seven pieces of artwork offered at the sale were presented in a unique gallery setting at Sotheby’s New York headquarters.

Rob Myers, CEO and Founder of RM Auctions, said: “Working with Sotheby’s, we set out to create the finest automobile auction that there has ever been. Our aim has been to raise the bar and set a completely new standard for quality and presentation, and I am delighted to say that these amazing results have proven it a great success.

“What we have established here in New York is a complete demonstration of how to bring some of the world’s rarest and most exceptional automobiles to market, in both an exciting and visually arresting way. Furthermore, the sale has successfully brought many new collectors into the market for the first time, which is fantastic news for our hobby.”