Published: August 17, 2015
MONTEREY, CALIF. — RM Sotheby’s continued its strong sales run in the Concours d’Elegance auctions, generating in excess of $120 million in auction and post-auction private sales during the first two nights of its flagship event on August 13 and 14. Road-going race cars topped the bill at the Thursday sale, with the historic 1964 Ferrari 250 LM and the 1998 McLaren F1 “LM Specification” leading a string of 14 individual $1 million-plus sales. Boasting a rich racing history, the 1964 Ferrari 250 LM (pictured) roared onto the auction stage to applause from the crowd before selling for a final $17.6 million – a new record for the model at auction. The 1998 McLaren F1 “LM-Specification” realized $13.75 million, also a an auction record for the model.
Setting the tone for the weekend, the Pinnacle Portfolio — a single-owner Florida-based collection of postwar sports cars, generated a record $75.4 million on August 13. The result represents a new record for a private automobile collection sold during a single-day sale. Comprising a group of iconic sports and racing cars of the 1950s and 1960s joined by a roster of contemporary supercars, the two-hour Pinnacle Portfolio auction saw 25 vehicles cross the auction podium before a standing-room only crowd, with active bidding throughout the evening both in the room and on the phones, including collectors bidding with Sotheby’s representatives. A complete report on the sale will follow later.
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