Media Release


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

Alain Squindo


Detroit, Michigan

Alain Squindo joined RM Auctions in 2007, after graduating from Georgetown University in Washington, D.C., with a degree in History. R... read more

Alex Classick

aclassick@rmauctions.com

+44 (0) 20 7851 7070
United Kingdom

Alex Classick joined RM Europe in 2011 as a car specialist, after graduating from Nottingham University with a degree in Business Mana... read more

Alexander Weaver

aweaver@rmauctions.com

+1 310 559 4575
California, USA

Alexander Weaver joined RM Auctions in 2011 as a car specialist, after graduating from Furman University in South Carolina. Born into ... read more

Annette Abaci

aabaci@rmauctions.com

+49 (0) 40 441 95 737
Germany

With post-secondary degrees in Economic Science and Mechanical Engineering, Annette Abaci initially worked part-time at Mercedes-Benz ... read more

Augustin Sabatié-Garat

asabatie-garat@rmauctions.com

+44 (0) 20 7851 7070
United Kingdom

Augustin Sabatié-Garat joined RM Europe in 2012 as a senior car specialist, after more than a decade in the collector car hobby... read more

Dan Warrener

dwarrener@rmauctions.com

+1 519 352 4575
Ontario, Canada

Possessing a degree in Economics from Brandon University, Dan Warrener spent the initial stages of his career working around the globe... read more

Don Rose

drose@rmauctions.com

+1 617 513 0388
United States

Don Rose joined RM Auctions in 2006, after many years of professionally trading sports and classic cars, and after earning a reputatio... read more

Donnie Gould

dgould@rmauctions.com

+1 954 566 2209
Florida, USA

Donnie Gould joined the RM team in 2002 as a partner and Car Specialist after more than two decades in the vintage automobile auction ... read more

Gord Duff

gduff@rmauctions.com

+1 519 352 4575
Ontario, Canada

Gord joined RM Auctions in 1998, initially responsible for the transportation and logistics of the company’s auction and restora... read more

Ian Kelleher

ikelleher@rmauctions.com

+1 310 559 4575
New York, United States

Ian Kelleher began his automotive career immediately following his graduation from Oberlin College, with a B.A. in Politica... read more

Jack Boxstrom

jboxstrom@rmauctions.com

+1 818 703 2816
Ontario, Canada

Jack Boxstrom joined RM Auctions in late-1996 to assist with the recently acquired, and subsequently record-breaking, auction in Monte... read more

Max Girardo

mgirardo@rmauctions.com

+44 (0) 20 7851 7070
United Kingdom

Max Girardo started his career in the vintage automobile industry in 1998, joining Brooks Auctioneers (now Bonhams) as a car specialis... read more

Mike Fairbairn

mfairbairn@rmauctions.com

+1 519 352 4575
Ontario, Canada

As one of the three founding partners of RM Auctions, Mike Fairbairn has a longstanding interest in the classic car industry. Graduati... read more

Peter Wallman

pwallman@rmauctions.com

+44 (0) 20 7851 7070
United Kingdom

Peter Wallman joined RM Europe in 2007, following nearly two decades in the international advertising industry, read more

Peter Giddings

pgiddings@rmauctions.com

+1 925 831 2048
California, United States

A life-long car enthusiast, Peter joined RM’s California office with over half a century of experience in the automotive and rac... read more

Peter Blond

pblond@rmauctions.com

+44 (0) 20 7851 7070
United Kingdom

Peter Blond joined the RM Europe team in 2013 after being immersed in the collector car industry for more than 60 years. An... read more

Rob Myers

rmyers@rmauctions.com

+1 519 352 4575
Ontario, Canada

As chairman and founder of the RM Group of Companies, Rob Myers’s entire career has been devoted to the classic car industry. Ro... read more

Shelby Myers

smyers@rmauctions.com

+1 310 559 4575
California, USA

Shelby Myers literally grew up with the classic car industry infused into every aspect of his life. He had the unique opportunity to w... read more

Vinnie Mandzak

vmandzak@rmauctions.com

+1 310 559 4575
California, USA

Vinnie Mandzak joined RM Auctions’ California office in 2012 as a car specialist, following more than 30 years’ experience... read more

Jeff Whiteside

jwhiteside@rmauctions.com

+1 519 352 4575
Ontario, Canada

Jeff Whiteside joined RM Auctions as Chief Operating Officer and Chief Financial Officer following almost three decades in a diverse r... read more