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Auctions
by Philip Powell on January 31, 2007

RM Auctions of Bleinhem, Ontario may have held the most stylish event of auction week but prices were down from last year, dropping the total sales figure slightly. Still, a total of nearly $30 million is not to be sneezed at. 106 out of 114 cars offered were sold, a high average for an auction where, in contrast to Barrett-Jackson, seller's reserves are allowed.
Writing in the New York Times Keith Martin quotes an e-mail from RM's president, Rob Myers, who said, "we see sports-racing cars as the strongest growth segment of the market and also keep an eye on the great antiques and classics that will continue to be strong." $2.8 million was paid for an unrestored Deusenberg, the last one ever built.
Magnificent though it is, my eye was drawn to this beautiful 1931 Cord L-29 front drive LaGrande Speedster. I make no apology for the fact that it's a 2005 recreation (10 years in the making), accurate to the last curve and mechanical detail, for no examples of the original still exist. It sold for $418,000, undoubtedly far less than what the car cost to build.
Permalink: Dollars Down at RM but Class Still Reigns
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