HISTORIC, FRESH-TO-THE-MARKET CLASSICS SHINE AT RM SOTHEBY'S 10TH ANNIVERSARY HERSHEY SALE
RM Sotheby's, the world's largest auction house for investment-quality automobiles, toasted a magnificent 10 years in Hershey with $11.58 million in sales at the Hershey Lodge. Held during the famed AACA Eastern Division Fall Meet, the penultimate sale on RM's 2016 calendar lifted the gavel on 132 total lots—attracting bidders from 18 countries—of which 90 percent found new homes.
In a catalogue highlighted by a delightful series of cars coming out of long-term ownership, a 1930 Duesenberg Model J Dual-Cowl Phaeton was the star attraction of the two-evening sale. One of only three original Murphy Dual-Cowl Phaetons, the Duesenberg was retrieved from storage at the Mexico City airport in 1962 and offered from 54 years in single-family ownership. Hotly contested by bidders in the room and on the phones, the Model J realized a strong $2,090,000.
Looking back over the two-evening event, Thursday's sale session was headlined by the spectacular 1932 Lincoln Model KB Boattail Speedster. Designed by legendary General Motors stylist, David Holls—earning its nickname, the 'David Holls Speedster'—the exquisite car represented the Lincoln that 'never was.' Attracting plenty of admirers during the sale preview, it was the subject of a 10-minute bidding contest, shattering its pre-sale estimate of $200/275,000 at a final $605,000.
Crossing the podium just four lots prior to the Lincoln on Thursday evening, the highly anticipated 'garage find' 1957 Porsche 356 A 1600 Speedster also drew tremendous interest from bidders in the room and on the phone. In single-family ownership since 1967, the Porsche emerged from 40 years in storage in a Texas garage just prior to the Hershey sale. Presented in largely original condition, it illustrated the enduring appetite for 'barn-finds,' soaring past its pre-sale estimate of $200/250,000 to bring a remarkable $341,000.