RM Confirms a Positive Outlook for the Collector Car Market

Last weekend in Hershey, Pennsylvania, the RM Auction event ‘Vintage Motor Cars of Hershey’ illustrated the continuing strength of the classic car market.

The single-day event, held October 10th at the famous Hershey Lodge, captured the attention of collector car enthusiasts eager to see the impact of the shaky week on Wall Street and the current economic climate on the collector car market.

The solid sales results surpassing $6.9 million for the 84 cars offered, some of which exceeded expectations, were a good indication that the market remains strong. Headlining the single day sale was the 1933 Duesenberg La Grande Phaeton, considered one of the rarest and most desirable of the open bodied Duesenbergs, which brought an impressive $1,688,500.

Other notable sales highlights included a rare and highly desirable 1917 Pierce-Arrow Model 48 Touring Car for $385,000, and an iconic, beautifully restored 1913 Locomobile Model M-48-3 Four Passenger Baby Tonneau for $357,500.

Not all of the cars met their estimates unfortunatley, namely a 1962 Studebaker GT Hawk that sold for $4950, well under the $15,000 expected, a 1979 Pontiac Firebird Trans Am for $9900, and a 1941 Buick Roadmaster Convertible Phaeton selling for $30,000 below estimate.

You can view the full sale results at RM Auctions’ Vintage Motor Cars of Hershey event on their website.