$4.5 MILLION FERRARI 250 GT LEADS PACK OF SEVEN-FIGURE CARS AT RM AUCTIONS FAMED SPORTS & CLASSICS OF MONTEREY EVENT

MONTEREY, California – Preeminent international auction house, RM Auctions, continued their highly successful sales run in Monterey, California with twelve cars breaking the magic million dollar mark at the legendary ‘Sports & Classics of Monterey’ auction event, August 15th and 16th.

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 $44 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 twelve ‘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 $1,760,000.

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.

RM Auctions’ next event will be the ‘Vintage Motor Cars of Hershey’ auction, to be held in Hershey, Pennsylvania on October 10th. This will be closely followed by the ‘Classic Cars of Toronto’ event, October 24th to 26th in Mississauga, Ontario, and the ‘Automobiles of London’ event, October 29th in London, UK.

Full sales results are posted online at www.rmauctions.com. For immediate information on this event, please call Terry Lobzun on 818-703-2813.

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