Duesenberg and Other Convertibles Top Sellers During<br>Auctions America by RM's Auburn Spring Auction

Auburn Spring

AUBURN, Indiana (June 5, 2012) – The old saying that “when the top goes down, the price goes up” was once again proven during Auctions America by RM’s June 1-3 Auburn Spring sale at the historic Auburn Auction Park in Auburn, Indiana. Open-air classics took eight of the top 10 slots of the weekend, which saw 409 vehicles and an extensive automotive memorabilia collection cross the block with a 71.11% sell-through rate for more than $4.6 million* in total sales.

No one was surprised to see a red-and-black 1930 Duesenberg Model J Boattail Speedster bring the highest price of the sale. The supercharged, Indiana-built Full Classic brought $484,000, exceeding its market value. Next in line was a race car for the street in the form of a 1969 Dodge Charger 500 – a HEMI-powered, NASCAR-styled fastback that brought $130,000. A trio of 1950s drop tops filled the next sales slots, including a 1958 Cadillac Eldorado Biarritz ($107,250), 1959 Jaguar XK150 S Roadster ($102,300) and 1958 Chevrolet Impala ($97,000).

Each year when the weather gets warm, you see that upswing in interest in convertibles,” said Auctions America by RM President Donnie Gould. “Our Car Specialists made sure we had plenty of them consigned; 42% of our cars at Auburn Spring were open-air vehicles of some kind.

The summer-like weather probably explained enthusiastic bidding on a 1969 Ford Good Humor Ice Cream truck. Collector and dealer Mark Hyman tried to buy the rolling nostalgia wagon on Friday for $19,000 while taping a segment of Velocity’s “What’s My Car Worth?” On Saturday, Hyman spent $37,950 to take it home.

More than 1,900 pieces of automotive memorabilia crossed the block during the three days, with a 1/8-scale Conti Ferrari 275 GTB/4 NART Spider taking top honors for the group at $12,058.90 and a 1913 Sapor Modelltechnik Mercer 35J Raceabout going to a new owner for $3,999.13.

At 12:30 p.m. on the final day of the sale, Auctions America CFO Ed Cepuran introduced U.S. Col. David L. Augustine of the 122nd Fighter Wing from the podium and asked the audience to donate generously to the family of Auburn resident Army Sgt. JaBraun Knox and other military families in need. Knox was killed in Afghanistan on May 18 – a loss that has reminded the community of the military’s service and sacrifice. Between cash given on the spot, a buyer’s generous offer to donate his vintage Schwinn bicycle (purchased the day before at Auburn Spring) and money contributed by Auctions America, the effort raised $7,633 in less than an hour for military families.

People in the Auburn area have really welcomed us since we opened our headquarters here in 2010,” said Gould. “We saw an opportunity to use our event as a way to help a local family that has experienced a tragedy. Our prayers are with the Knoxes and all other military families.

Full results from Auctions America’s Auburn Spring auction are posted online at www.auctionsamerica.com. Auctions America continues its 2012 auction season at the company’s headquarters in Auburn, Indiana, for the Aug. 30-Sept. 2 Auburn Fall event.

* All sales figures are listed in U.S. dollars and include the buyer’s premiums.