RM Sotheby's, the world's largest auction house for investment-quality vehicles, reinforced its clear market leadership this past weekend by generating an outstanding $70.9 million in sales with 90 percent of all lots sold at its 19th annual Amelia Island Concours d'Elegance sale. A new benchmark for an Amelia Island auction, the impressive total comfortably exceeds the combined tally of all the other auctions held during this year's Amelia weekend.
Extended to two days with the addition of Friday's exclusive presentation of 'A Gentleman's Collection: The Pride and Passion of Orin Smith,' RM's 2017 Amelia Island sale lifted the gavel on a carefully curated roster of 150 blue-chip vehicles and select automobilia, attracting a truly global audience with bidders from 25 countries. Significantly, 21 percent of bidders represented first time clients to RM Sotheby's.
Friday's sale session was also one for the books, with the Orin Smith Collection generating $31 million in sales with a 100 percent sell-through. A wonderful showcase of RM Sotheby's expertise and capabilities in handling private collection auctions, the sale represented the first time RM has hosted a Friday evening sale at Amelia.