Full Disclosure: I used to work full-time as an in-house catalog writer for RM Auctions from late-February 2008 to mid-July 2012. I’ll stick to the facts for this Amelia Island auction report. They (now RM Sotheby’s) are one of the biggest, most dominant classic-car auction companies today, and have been so, for years. Obviously, a sustainable business has been built, a critical mass has been reached, and the company continues to lead its competitors in many of its respective market segments.
On Friday, March 8th, RM Sotheby’s first day at Amelia Island for 2019 was strong, with 50 of 59 offered lots sold according to Hagerty, for an 85 percent sell-through rate and an average sale price realized per car of $277,296. Among RM’s usually strong auction lineup were cars from the “Youngtimer Collection” of European automotive legends, ostensibly assembled from a single owner, plus a good mix from Ferrari, McLaren, Lotus, Alfa Romeo, and Mercedes-Benz, as well as recognized and desirable pre-WW II classics. Showing the growing interest in Japanese sports cars, RM Sotheby’s set a new record, blasting through a $100,000-$120,000 estimate and drawing an astounding sale of $176,000 for a rare, low-mile 1994 Toyota Supra Twin-Turbo for $176,000.
Update: On Monday, March 11, RM Sotheby’s announced that it racked up over $38 million in sales at Amelia Island – the strongest result of the week’s auctions there. The auction house also claimed it established several auction records for individual models, with many surpassing their pre-sale estimates, adding positive expectations for the current and future collector-car markets.