Top Cars

After selling off the Nick Alexander Woodie collection on Thursday, RM continued with their Sports & Classics of Monterey auction this past weekend. The sale was highlighted by a 1952 Jaguar C-Type that was originally owned and raced by the late Phil Hill. The legendary driver's son, Derek Hill, drove the car up on stage where bidding immediately passed $1,000,000 on its way to a $2,530,000 final selling price.

Despite the downward trend of the collector car market, RM managed to sell 85% of the 239 cars it offered last weekend. In addition to the C-Type, several other notable cars found new homes, including a 1955 Aston Martin DB3S that sold for $1,980,000 and a Duesenberg Model SJ Disappearing Top Convertible Coupe with a final sale price of $1,430,000. Some of the no-sales included a 2006 Bugatti Veyron 16.4 with a top bid of $900,000, a 1938 Talbot Lago T120 that went unsold at $950,000, and a 1953 Ferrari 166MM Spider Scaglietti that didn't meet its reserve despite being bid to $1,100,000.

PRESS RELEASE:

MONTEREY, California –The legendary Phil Hill's son, Derek, drove the historic 1952 Jaguar C-Type, s/n XKC-007 to an auction world record last night, selling for $2,530,000 at RM's Sports & Classics of Monterey event in California.

XKC-007 was one of the first C-Types delivered to North America. In 1952, a young Phil Hill – then just 25 – drove the car at Elkhart Lake to claim the C-Type's first North American victory, before going on to achieve further success at Torrey Pines that same year.

"With over 85% of the 239 cars sold, including the very exciting 1952 Jaguar C-Type, and a current sales total exceeding $34 million, we are pleased with the weekend's results which reflect our consistently strong sell-through performance year to date," said Ian Kelleher, President & Chief Operating Officer of RM Auctions.

"The global interest and enthusiasm in our 2009 Monterey event led to a packed sales room of active bidders each of the three evenings, and RM is confident that throughout the course of the next few days several other major transactions will take place and continue to elevate these numbers in excess of the anticipated pre-sale expectations," Kelleher added.

Additional top-sellers at RM's Sports & Classics of Monterey event included two other million-dollar cars - a race-bred 1955 Aston Martin DB3S, which brought an impressive $1,980,000, and a stunning 1935 Duesenberg Model SJ Disappearing Top Convertible Coupe for $1,430,000.

A further highlight was the sale of a factory-original 2005 Ford GT super car, offered on behalf of the Ford Motor Company and selling for $181,500 with a portion of the sale proceeds benefiting the Juvenile Diabetes Research Foundation (JDRF). To coincide with the offering, Mr. Edsel B. Ford II, Board Director, Ford Motor Company and his son, Henry, joined a group of local Monterey JDRF youth ambassadors to witness its sale.

"Once again the Ford Motor Company's long-standing relationship with RM Auctions proved to be a wonderful opportunity to raise money for the Juvenile Diabetes Research Foundation amidst a crowd that appreciates all the great things our employee driven Ford Global Walk Team does for children around the world," said Mr. Ford following the auction. "We were thrilled to work with the team at RM Auctions once again in this capacity to continue our support of JDRF and its mission to find a cure for diabetes and its complications."

A 1939 Ford Deluxe Station Wagon, the final lot of the Nick Alexander Woodie Collection reserved for Saturday night's sale, exceeded its original high estimate to bring $215,000 hammer price. This amount will be donated to the Midland School in Santa Barbara, California by Nick Alexander, in addition to the 10% buyers premium of $21,500 and other monies raised which will be donated by RM. This lot capped off the extremely successful single-owner offering of $7.3 million.

"I am thoroughly pleased with the overall sales results and consider the auction to be a true success," said Nick Alexander. "RM Auctions did an amazing job representing all 52 cars consigned from my collection and I am delighted that all are going to such great new homes," he added.

RM will return to California, September 26th for the highly anticipated Icons of Speed & Style event at the Petersen Automotive Museum in Los Angeles. This single-vendor collection will present an eclectic range of historic American racing cars, vintage hot rods and custom show cars, along with 'kustom kulture' memorabilia - all offered without reserve. For further information on this exciting event, please visit http://www.rmauctions.com/Default-RW.cfm?SaleCode=RW09.

Official results from this weekend's Sports & Classics of Monterey event will be posted online at www.rmauctions.com.