Auction Results: RM/Sotheby’s New York City 2013 sale

1964 Ferrari 250 LM Coupe

RM Auctions and Sotheby’s successfully conducted their highly publicized “Art of the Automobile” auction in New York City on Nov. 21, 2013. In a little more than two hours, a room packed with excited bidders watched 31 of 34 vehicles sell for $62.5M. To put this feat in proper context, RM needed two days and 200 cars three years ago to achieve a similar result in Monterey, during a sale that was considered strong by all contemporary accounts. More than half of the cars offered in New York sold in excess of $1M, and 11 cars established new record prices of one stripe or another.

The auction’s headliner was a fantastic 1964 Ferrari 250 LM, first owned by Steve Earle of Monterey Historics fame, and the car didn’t disappoint. Continuing the upward climb of Enzo-era Ferraris that has been speeding along since 2009, the LM became the fourth most expensive car to ever sell at public auction (behind the W196 Mercedes-Benz and two other Ferraris), fetching a price of $14.3M.

New high-water marks were set for 300SL roadstsersBMW 507s (both sold for $1.65M a piece), as well as non-competition E-Types, with a 4.2-liter SI convertible selling for an astonishing $467,500. The three cars that missed their reserves were the 1955 Lincoln Indianapolis design study by Boano (at a high bid of $1.55M), the 1941 Cadillac “Duchess” limousine (bid to $415,000), and a 1997 Ferrari F310B ($630,000 high bid).

Top 10

  1. 1964 Ferrari 250 LM Coupe sold for $14,300,000
  2. 1938 Talbot-Lago T150 CSS Teardrop Cabriolet sold for $7,150,000
  3. 1959 Ferrari 250 GT SWB Alloy Coupe sold for $7,040,000
  4. 1955 Maserati A6G/2000 Spyder sold for $4,455,000
  5. 1933 Rolls-Royce Phantom II Continental Sports Coupe sold for $2,420,000
  6. 1936 Delahaye Type 135 Competition Court Teardrop Coupe sold for $2,420,000
  7. 1955 Ferrari 250 GT Europa Coupe sold for $2,420,000
  8. 1956 Aston Martin DB2/4 Mk II Supersonic Coupe sold for $2,310,000
  9. 2011 Bugatti Veyron 16.4 Grand Sport Roadster sold for $2,310,000
  10. 1961 Ferrari 250 GT SII Cabriolet sold for $2,035,000

RM’s next event is its annual Phoenix, Ariz., sale, scheduled for Jan. 16-17, 2014. Key consignments for the event include a 1935 Hispano-Suiza J12 Cabriolet deVille, a 1966 Porsche 906 Carrera 6 and a 1964 Ferrari 250 GT Lusso.

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