RM Sotheby’s flagship auction grossed an astonishing $239,258,340 in total sales over the company’s record-breaking three-night auction in Monterey, California, with an incredible 95 percent of all lots sold. Presided by Sotheby’s auctioneer Oliver Barker and RM Sotheby’s Mike Shackleton, the auctioneers stayed extremely busy fielding bids night after night in a jam-packed sales room which saw a record number of bidders and enthusiasts in attendance.
After the historic sale, RM Auto Restorations, RM Sotheby’s in-house restoration shop, won “Best of Show” for an unprecedented 7th time, setting yet another record for most wins at the Pebble Beach Concours d’Elegance for any restoration shop. The 1932 Duesenberg Model J Figoni Sports Torpedo was sourced by and received an exhaustive, no expense spared restoration in Blenheim, Canada, by the RM Auto team.
Important Statistics and Records:
- Thursday night’s auction brought over $41M with the 1937 Mercedes-Benz 540 K Special Roadster by Sindelfingen being the highest selling car at $9,905,000 and the sale achieving an overall 95.7% sell-through rate
- Friday night’s auction brought in nearly $75M with the 1957 Ferrari 500 TRC Spider by Scaglietti being the highest selling car at $7,815,000 and the sale achieving an overall 94.6% sell-through rate
- Saturday night’s auction brought in $123.3M with the 1955 Ferrari 410 Sport Spider by Scaglietti being the highest selling car at $22,005,000 and the sale achieving an overall 94.2% sell-through rate
- RM Sotheby’s auctions totaled $239,258,340, more than all other Monterey auctions combined, and broke a world record for the highest grossing automotive auction ever
- 2022 Porsche 911 ‘Sally Special’ breaks world record for most expensive factory new Porsche ever sold, selling at $3.6M
- 1998 Ferrari F300 Formula 1 car sets record as 4th most expensive Formula 1 car ever sold at $6,220,000
- RM Sotheby’s sells most expensive car of Monterey Car Week 2022, achieving $22,005,000 with the sale of the 1955 Ferrari 410 Sport Spider by Scaglietti
- Bidders came from 38 different countries and cars arrived from 9 different countries
- 17% of bidders were new to RM Sotheby’s and of those, 11% purchased cars
- 52 lots sold for over $1M
- 9 out of 10 of the most expensive cars sold during Monterey Car Week were sold by RM Sotheby’s
- RM Auto Restorations 1932 Duesenberg Model J won “Best of Show” at the famed Pebble Beach Concours d’Elegance marking the 7th time a vehicle restored by RM Auto Restorations wins, setting a record for the restoration shop
Gord Duff, Global Head of Auctions, stated, “The entire team will never forget this week after months of preparation. What RM Sotheby’s and RM Auto Restorations achieved at Monterey Car Week is a direct reflection of the drive, passion, and unparalleled expertise in our field. Our specialist and research teams are the best in the world, and our clients know that when they buy something like the 1924 Hispano-Suiza “Tulipwood” that we sold this weekend, it is thoroughly documented with exacting history which gives confidence when bidding. It’s one of the aspects that sets us apart from our competition. We sold 180 cars in 11 hours of auctioneering for a total of over $239M—a record that will stand for a long time. The market continues to rise and this weekend is a testament that the collector market is thriving. We’re looking forward to an exceptional year and we expect to continue with the incredible momentum that we’ve gained to date.”