RM | SOTHEBY'S
RM Auctions returned in style to Villa Erba, generating more than €27 million ($35,519,120 USD) at its exclusive sale during the Concorso d'Eleganza Villa d'Este weekend on Lake Como, Italy. Demonstrating that auction remains the most powerful way to sell investment-quality automobiles, the incredible 1953 Ferrari 340/375 MM Pinin Farina Berlinetta 'Competizione' realised €9,856,000 ($12,812,800), smashing the previous auction record for the model and establishing a new world record for a closed 'Berlinetta' Ferrari sold at auction while also being the most expensive automobile sold at auction in the 2012–2013 season.
At a packed venue on the grounds of the historic Villa Erba, in excess of 1,000 people witnessed the star Ferrari lot lead the way in a sale which saw five cars exceed €1,000,000 and 11 lots exceed their pre-sale estimates. Spirited bidding was seen in the room and on the phones and Internet, with international interest being received from across 30 countries and from all four corners of the globe.