RM STUNS MARKET AS VILLA ERBA SALE REALISES MORE THAN €27 MILLION

Villa Erba

  • RM Auctions posts more than €27 million at its sale in conjunction with world-renowned Concorso d’Eleganza Villa d’Este
  • Wonderful and historic 1953 Ferrari 340/375 MM Pinin Farina Berlinetta ‘Competizione’ smashes records,  realising €9,856,000
  • 40 lots fetch over  €27 million, with five lots surpassing €1 million and 80 percent of all lots sold
     

CERNOBBIO, Italy (27 May 2013) – RM Auctions returned in style to Villa Erba this past weekend, 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 in the grounds of the historic Villa Erba, in excess of 1000 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 planet.

 

Max Girardo, Managing Director, RM Europe, said: “Once again, we have demonstrated that auction really is the only way to sell important cars. Over 25 percent of lots exceeded their pre-sale estimates, with a number of model specific records achieved. It is clear that RM’s truly global reach and its unsurpassed investment in exceptional marketing and promotion brings an international audience to our sales that would be impossible to access any other way.”

 

Ferrari was once again the unstoppable marque most in demand by bidders. Besides the remarkable performance of the 340/375 MM, other notable Ferrari sales included the 1962 Ferrari 400 Superamerica SWB Coupé Aerodinamico, which realised €2,184,000 ($2,839,000); the 2004 Ferrari Enzo, which achieved €1,069,600 ($1,390,480); the 1965 Ferrari 275 GTB, for €1,120,000 ($1,456,000); and the 2010 Ferrari 599XX, which brought €918,400 ($1,193,120). In total 15 Ferraris were offered at Villa Erba, all of which sold very strongly.

 

However, it was not only Ferraris that proved popular with bidders. The stunning 1962 Mercedes-Benz 300SL Roadster impressed everyone with its immaculate presentation and garnered significant pre-sale interest. When the hammer fell, the car found a new owner for €1,114,400, an extremely stong price for a 300SL Roadster. Always popular with collectors, the 1967 Lamborghini Miura P400 also sold extemely well at €425,600 ($553,280).

 

Rob Myers, Chairman and Founder of RM Auctions, said: “In discussion with a long-time friend and London-based broker, he conceded that he is now advising clients to sell great, important automobiles at auction. He, like many within the market, has realised that it’s incredibly hard to know the correct selling figure of a car before it is offered to a truly worldwide clientele. The Ferrari 340/375 MM proves this to be true, having achieved an amazing price here at Villa Erba.”

 

RM Auctions continues its European events calendar in England, 8-9 September with its well-established London sale held in partnership with the exclusive St. James’s Concours of Elegance. Full event details for the London sale along with official results from the Villa Erba are available online at rmauctions.com.

 

**Please note, results are listed in Euros (€) and include 12% buyer’s premium. Exchange rate used: 1 EURO = 1.3 USD