When is making $6.4 million not a great outcome? When it’s about a million dollars…
Auction Recap: RM Sotheby’s Motor City 2015
RM Sotheby’s concluded its 21st annual Motor City auction in Plymouth, Mich., on July 25 with a sales total of $7,402,450 and an average sale price of $119,394. Of the 78 cars offered, 62 sold, for a sell-through rate of 79%. These numbers are roughly the same as last year, when RM achieved $7,421,150 in total sales, an average sale price of $123,686 and a sell-through rate of 77% (60 sold out of 78 offered).
Predictably, the top sales of the day were large prewar American luxury automobiles, led by the ex-Lucius B. Manning Duesenberg Model SJ Dual Cowl Phaeton for $852,500. This year, though, RM brought out several European automobiles and late model collector cars, and big sales in the modern category included a ubiquitous low-mileage 2005 Ford GT at $319,000, a 2001 BMW Z8 at $192,500 and a 1988 Lamborghini LM002 for an identical (but a huge result for this model) $192,500. Strong sales at the lower end of the price spectrum included a 1984 Corvette that brought a staggering $19,250 and a 1972 BMW 2002 for an equally surprising $38,500.
- 1935 Duesenberg Model SJ Dual-Cowl Phaeton sold for $852,500
- 1933 Packard Twelve Individual Custom Sport Phaeton sold for $506,000
- 1934 Auburn Twelve Salon Speedster sold for $506,000
- 2005 Ford GT sold for $319,000
- 1930 Packard Deluxe Eight Dual-Cowl Sport Phaeton sold for $308,000
- 1929 Stutz Model M Four-Passenger Speedster sold for $302,500
- 1934 Pierce-Arrow Twelve Convertible Coupe Roadster sold for $297,000
- 1938 Packard Super Eight Sedanca deVille sold for $220,000
- 1968 Shelby GT500 KR Convertible sold for $203,500
- 2001 BMW Z8 sold for $192,500
- 1988 Lamborghini LM002 sold for $192,500
RM’s next collector car auction in Monterey is right around the corner and will take place on Aug. 13-15. As always, it will feature a docket full of top-tier collector cars and is one of the most important sales of the year.