CANADIAN-BUILT CLASSIC TOP SELLER AT RM SPRING CLASSIC CAR AUCTION

Rare Canadian-built 1951 Mercury Monarch Convertible rings in the top sale of $192,500 at RM’s annual spring ‘Classic Car Auction of Toronto’ event in Mississauga, Ontario

The official kick-off to the Canadian spring collector car season got off to a great start at RM’s recent ‘Classic Car Auction of Toronto’ held at the International Centre in Mississauga, Ontario, April 3-5. Despite the current economic conditions this segment of the automotive market continued to show strength and activity with a 15% increase in attendance over last year’s spring event and sales that exceeded initial expectations.

The top seller of the weekend event was an impeccably restored, award-winning, 1951 Mercury Monarch Convertible that brought a final bid of $192,500. This 1000-point show car, originally built in Windsor, Ontario, is one of only four known examples and one of several cars offered at the event that were built in Canada, by former generations of today’s automotive workforce.

“This weekend presented many opportunities for both buyers and sellers. We are very pleased with the increase of new visitors and the gavel prices on the auction block. Most surprising, is the number of inquiries from consignors for our Toronto fall event indicating the market remains positive,” remarked RM’s veteran car specialist Dan Spendick.

This annual spring tradition, celebrating its 19th year, offered an expanded variety of unique collector cars, several trucks and motorcycles and a colorful assortment of automotive memorabilia.

Some of the featured highlights of the Toronto event include the following:

– rare Giallo Fly yellow 1999 Ferrari F355 F1 Spider for $105,600 – a luxurious high performance 2004 Cadillac XLR Roadster for $55,000 – freshly restored 1956 Mercury Montclair Convertible for $49,500 – well equipped Rally Red 1967 Pontiac GTO Convertible for $39,050

The next event on the car calendar is RM’s annual Classic Car Auction of Michigan which will offer several hundred collector vehicles on April 24 and 25 at the Rock Financial Showplace in Novi, Michigan. RM will return to Toronto for its fall sale October 23-25, 2009.

About RM Auctions Celebrating three decades in the collector car industry, RM Auctions and its sister companies are responsible for acquisitions, restorations and sales of the world’s rarest and most expensive vintage automobiles including Best of Show winning cars at the prestigious Pebble Beach, Amelia Island and Meadow Brook Concours events. For additional information on the Toronto sale and other RM Auction events, please call (800) 211-4371 or visit: www.rmauctions.com

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