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

Alexander Weaver

aweaver@rmsothebys.com

+1 864 313 6844
California, United States

Alexander Weaver joined RM Sotheby’s in 2011 as a Car Specialist after graduating from Furman University in South Carolina. Born... read more

Augustin Sabatié-Garat

asabatie-garat@rmsothebys.com

+44 (0) 74 1511 4179
United Kingdom

Augustin Sabatié-Garat joined RM Europe in 2012 as a Car Specialist after more than a decade in the collector car hobby. Gradua... read more

Barney Ruprecht

bruprecht@rmsothebys.com

+1 203 912 7168
Ontario, Canada

Barney’s interest in classic cars began at an early age after being introduced to his father’s all-original 1965 Porsche 9... read more

David Swig

dswig@rmsothebys.com

+1 415 302 2247
California, United States

David Swig joined RM Sotheby’s West Coast division as a Car Specialist in May 2015. He is a life-long automobile enthusiast and ... read more

Don Rose

drose@rmsothebys.com

+1 617 513 0388
United States

Don joined RM in 2006 after several years of professionally trading sports and classic cars, and after earning a reputation as a noted... read more

Donnie Gould

dgould@rmsothebys.com

+1 954 566 2209
Florida, United States

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@rmsothebys.com

+1 519 352 4575
Ontario, Canada

Gord Duff began his journey with RM Sotheby’s in 1998. Since then, he has gained an intimate knowledge of a variety of marques a... read more

Ian Kelleher

ikelleher@rmsothebys.com

+1 310 559 4575
California, United States

Ian Kelleher began his automotive career immediately following his graduation from Oberlin College with a Bachelor of Arts in Politica... read more

Jake Auerbach

jauerbach@rmsothebys.com

+1 310 559 4575
California, United States

Jake Auerbach got his start in the automotive industry at an early age, spending his summers during high school working at a classic c... read more

Jonathan Sierakowski

jonathan@rmsothebys.com

+1 519 352 4575
Ontario, Canada

Jonathan Sierakowski developed a passion for classic cars while working at a Connecticut restoration shop as a teenager. He graduated with a... read more

Kurt Forry

kforry@rmsothebys.com

+1 717 623 1638
California, United States

Having worked for Bonhams’ Automobilia department for over 10 years, Kurt Forry joined RM Sotheby’s with more than a decad... read more

Matt Malamut

mmalamut@rmsothebys.com

+1 805 231 6410
California, United States

A long-time car enthusiast and Southern California native, Matt studied Automotive Technology at San Diego Miramar College and complet... read more

Michael Squire

msquire@rmsothebys.com

+44 (0) 20 7851 7070
United Kingdom

Michael Squire joined RM Sotheby’s European Division in the summer of 2016. He comes to RM with a prestigious racing background ... read more

Mike Fairbairn

mfairbairn@rmsothebys.com

+1 519 352 4575
Ontario, Canada

As one of the three founding partners of RM Sotheby’s, Mike has a long-standing interest in the classic car industry. Graduating... read more

Oliver Camelin

ocamelin@rmsothebys.com

+44 (0) 75 0110 7447
United Kingdom

With an extensive background in exotic sports car history and sales, a particular passion for American curves, and fluency in three la... read more

Paul Darvill

pdarvill@rmsothebys.com

+44 (0) 20 7851 7070
United Kingdom

Paul Darvill joined the RM Sotheby’s European team at the beginning of 2015. Paul holds a degree in French and Politics from the... read more

Pete Fisher

pfisher@rmsothebys.com

+1 519 784 9300
Ontario, Canada

Pete Fisher was first introduced to antique cars in high school, working for Classic Coachworks in his hometown of Blenheim, Ontario. He att... read more

Peter Wallman

pwallman@rmsothebys.com

+44 (0) 20 7851 7070
United Kingdom

Peter Wallman joined RM Europe in 2007 following nearly two decades in the international advertising industry, where he was based out ... read more

Shelby Myers

smyers@rmsothebys.com

+1 310 559 4575
California, United States

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

Tonnie Van der Velden

tvandervelden@rmsothebys.com

+31 653 84 19 60
United Kingdom

Tonnie Van der Velden joined RM Sotheby’s European division in September 2015 as a Car Specialist. A lifelong enthusiast, Tonnie... read more