15 - 16 January 2015
Arizona Biltmore, Phoenix, Arizona
HISTORIC 1964 FERRARI 250 LM RACES TO AN IMPRESSIVE $9.6 MILLION AS RECORDS TUMBLE AT RM'S ARIZONA SALE
RM | SOTHEBY'S
RM Auctions kick-started the 2015 collector car season on a strong note, generating $63,700,375 in total sales, with 90 percent of all lots sold at its 16th annual Arizona Biltmore sale. RM's strongest Arizona performance to date, the impressive results—which reflect an average of $10 million generated per hour—are an almost 40 percent increase from the company's 2014 Arizona tally.
Reinforcing the company's position as the market leader, the sale, which attracted bidders from 20 countries, set numerous new benchmarks, including that for the most valuable automobile sold in Arizona auction history. Proudly taking this title was a Classiche-certified 1964 Ferrari 250 LM, chassis 5899 GT, with an impressive competition record. Roaring onto RM's Arizona Biltmore stage before a packed house on Friday evening, the thoroughbred Ferrari was hotly contested by bidders in the room and on the phones, eventually selling for an outstanding $9,625,000.