1931 Marmon takes top dollar at RM Hershey auction
Sales top $9 million with 94% sell-through rate.
The sale was held in conjunction with the famed AACA Eastern Division Fall Meet and exceeded $9.1 million in sales with an impressive 94% sell-through rate.
Preeminent international auction house, RM Auctions, conducted the event, continuing its strong 2009 sales run.
The two-day auction kicked off Thursday, October 8, with the highly successful sale of a private East Coast collection of automobilia, which achieved over $400,000 in total sales. Continuing the momentum, Friday's auction presented some 50 lots of memorabilia and 136 motor cars to a packed audience.
In addition to the Marmon, a largely unrestored 1933 Cadillac V16 Convertible Victoria brought $412,500. The handsome Cadillac V16 was one of just two examples built and was originally owned by Hollywood actor Robert Montgomery.
Another highlight for enthusiasts was the Miller 91 FrontDriveEngine, considered one of the most important Miller artifacts to come to the market in decades. Attracting spirited bidding, the Miller engine nearly tripled its originalestimate,selling for $297,000. A1909 Stanley Model E2 Runabout also well-exceeded its pre-sale estimate with a winning bid of $176,000.
“Despite the continuing economic concerns, RM Auctions' impressive sales results in both Los Angeles, California and Hershey, Pennsylvania, continue to solidify and encourage confidence in the collector car market”, said Ian Kelleher, President & Chief Operating Officer of RM Auctions.
“Our Hershey auction was incredibly well-attended by bidders and buyers from around the world in a standing-room only atmosphere. We look forward tobuilding on the strong results and welcoming collectors to our London auction later this month,” he added.
Additional auction highlights included an award-winning 1920 Mercer Series 5 Sporting for $242,000; a historic 1949 Belanger Special Indy Race Car with impressive race history for $192,500; and a 1930 Bugatti Type 44 Touring for $187,000.
Full sales results from RM’s Vintage Motor Cars of Hersheyeventwill be posted online at www.rmauctions.
RM Auctions will conclude its 2009 auction calendar later this month with the return of the distinguished Automobiles of London event, October 28. Presented in association with Sotheby’s, over the past three years the London auction has carved a reputation as one of Europe’s leading collector car events for the highest quality automobiles. This year’s event is set to continue the grand tradition with over 80 of the world’s finest collector cars to go under the hammer.
MORE RESOURCES FOR CAR COLLECTORS FROM OLDCARSWEEKLY.COM
