Photo from RM Auctions/Sotheby's
Selling cars as art might become a new trend if the auctions continue to go as well as RM’s last one.
When we think of putting cars up on the block, we typically think of a fast-paced showroom with hundreds of cars and collectors scrambling to get a look under the hood as they place their bids. Not so at RM’s last auction. RM Auctions decided to take a step in a different direction last week, in an attempt to garner some attention and raise the price tags on some of their cars, and it appears to have worked.
The auction was held, not in a showroom, but at Sotheby’s in New York City. This art house is famous for bringing in million dollar bids on rare art pieces from around the world, so the partnership made sense to RM, since many people already consider their classic cars to be works of art.
There were only 41 pieces presented at the auction, but the total brought in from these pieces was nearing the $63 million mark, a number we don’t often see at car auctions.
Some of the pieces sold were a 1954 Pegaso Z-102 Series II Berlinetta, a 1960 Mercedes-Benz 300SL Roadster, a 1955 Maserati A6G/2000 Spyder, a Toyota 2000GT, a 1970 Plymouth Road Runner Superbird, a 1997 Ferrari F310 B race car, a 1941 Cadillac custom limousine, and the 1955 Lincoln Indianapolis Exclusive Study by Carrozzeria Boano Torno; all true pieces of art, for certain.
Congratulations to RM Auctions on their successful show, and congratulations to all the owners of such beautiful new pieces of history. We hope you will all give Classic Auto a call before you take your artwork home, and find out how we can help you protect the collection to which you have devoted so much time and money. Call us today at 888-901-1338 for an instant classic car insurance quote!
About the Author
Drew Yagodnik is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.