Press
2004 Press Release
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$1.1 MILLION CHAPPARAL 1 RACE CAR TOPS RM AUCTIONS’ 2004 MONTEREY SPORTS AND CLASSIC CAR AUCTION
The Monterey Sports and Classic Car Auction |
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| August 14 | |
| Record Turnout at Event Leads to Sales Totals of Over $17 Million, including more than $2.4 Million for 10 Significant Shelby Cobras and Mustangs
BLENHEIM, Ontario, Canada (August 14, 2004) – A rare 1961 Chapparal 1 Race Car sold for more than $1.1 million at RM Auctions’ annual Monterey Sports and Classic Car Auction, held August 13th & 14th at the Portola Plaza Hotel in Monterey, CA. The entire sales for the event topped over $17 million with close to a 90% sales rate. “We were extremely pleased with the weekend’s sales and our overall sales rate,” says Rob Myers of RM Auctions. “This is a great indicator that the collector car market is still strong and points to the continuous growth of the entire hobby. Created by Texas race car driver Jim Hall, the first edition Chaparral 1 is one of only five first edition Chaparrals ever constructed and is the cornerstone of the famous Chaparral Racing dynasty. The million-dollar plus sales figure for the Chaparral marked the third straight year RM’s Monterey Auction featured a seven-figure hammer price. Collectors also bid vigorously on the most significant offering of Shelby cars sold at auction in history, with the mix of 10 Cobras and Shelby Mustangs selling for a combined total of more than $2.4 million. Legendary Builder Carroll Shelby was on hand to witness the sale of ten of his finest creations. Following the Shelby sales at the event, a Shelby autographed auction poster was sold for $35,000. This figure was matched by RM Auctions with the total amount of $70,000 going to benefit the Carroll Shelby Children’s FoundationÔ -- an organization dedicated to providing financial assistance to children around the world in need of acute coronary and kidney care. In addition to the Chaparral and Shelby cars, other notable sales included: The 10 unparalleled Shelby Mustangs and Cobras were led across the auction block by the first 2004 Shelby-AC Cars FIA Cobra produced since 1968. This continuation Cobra, an official replica of a ‘60s-era Shelby FIA racer, was driven to the stage by legendary builder Carroll Shelby, who watched as it sold for $148,500. Other notable Shelby sales were a 1966 Cobra Competition car ($627,000) and a 1966 Cobra Dragonsnake Race Car ($484,000). In addition to the spectacular cars, RM Auctions in conjunction with Julien Entertainment Company, hosted a two-day “Entertainment Legends” sale containing hundreds of personal artifacts and memorabilia from Hollywood stars, music industry legends, and international celebrities, including an autographed invitation to the 1964 Beatles' film, "A Hard Day's Night” ($24,000), the Grammy Award presented to the Eagles for their 1976 record, "Hotel California," ($18,800), and an invitation to the Playboy Mansion Halloween Party ($12,000) among other items from Hugh Hefner. Recently, RM Auctions’ annual Vintage Motor Cars at Meadow Brook Hall sale, hosted in conjunction with the world-renown Meadow Brook Concours in Rochester, Michigan, posted a total of more than $6.5 million in sales in just five hours, an astounding average of more than $1 million per hour. Topping the sales chart at Meadow Brook was a 1934 Packard Twelve Convertible Victoria for $1,045,000 and a 1929 Duesenberg Convertible Berline for $660,000. Beginning October 15th, RM Auctions will host a sale of the collection from the S. Ray Miller Museum in Elkhart, Indiana, which includes a 1930 Duesenberg originally owned by Al Capone’s lawyer. Everything in the museum will be sold, including 40 classic autos, an array of automobilia, petroliana collectibles, signs, historical auto artifacts, jukeboxes, clocks, artwork and period clothing from the golden age of the automobile. Bidder registration for the three-day sale held on the S. Ray Miller Museum grounds at 2130 Middlebury Street in Elkhart is $100 and includes a full-color auction catalog and admission for two. Catalogs are also available separately for $60, (including admission for two). Registration, catalogs and addition information are available at 800-211-4371 or on the company web site below. RM Auctions, Inc. is the leader in the North American investment-grade collector car auction market. Worldwide RM Auctions was recognized by Catalogo Bolaffi, an Italian-based catalog that tracks classic auto auction sales worldwide, for selling the top five autos based on final hammer prices in 2002/2003 and six of the top ten. For additional information on RM Auctions Inc., please call (800) 211-4371 or visit the company web site at: www.rmauctions.com |
