RM’s Automobiles of Arizona Auction Posts $18 Million in Sales

It was RM Auctions’ 10th anniversary event in Phoenix, and once again they brought with them a fabulous collection of desirable investment-quality motor cars. Held on January 16th, the eight hour sale attracted a record number of bidders from around the world who bought 102 cars for $18 million.

It was standing room only for most of the day inside the McArthur Ballroom at the Biltmore Resort and Spa with bidders showing great interest in the cars on the auction block, but sometimes not enough to meet the owner’s reserve price. There were ten cars in RM’s line up that were expected to sell in the seven figures, but not one hit the magic number.

An historic and Pebble Beach Concours winning 1937 Bugatti Type 57SC Atalante Coupe had a high bid of $4.5 million, and the legendary racing 1963 Corvette Grand Sport Roadster soared to $4.9 million, but neither one saw the hammer fall for a sale. It wasn't for a lack of trying as RM’s auctioneer, Peter Bainbridge, worked very hard for the money putting his wit, humor and persuasive skills into high gear.

The top selling car of the day was the sexy 1967 Ferrari 275 GTB/4 Berlinetta which achieved $918,500. Other highlights included the rare, speed record-breaking 1954 Dodge Firearrow III Sports Coupe Concept by Ghia which brought $880,000; and a beautifully restored 1937 Delage D8-120 Aerosport Coupe which sold for $825,000.

Getting significant interest and selling for above initial estimate was the distinguished, private Atwood Collection. Comprising 24 of the late Dr. Barbara Mae Atwood’s most treasured automobiles, the collection included a magnificent selection of pre-war American cars, each representing the epitome of motoring luxury for their respective marques. Our favorites in the Atwood Collection were the 1929 Graham-Paige Dual Cowl Phaeton which sold for $297,000, and the only Fleetwood bodied Duesenberg built; a Model J Convertible Coupe selling for $858,000.

We have to give honorable mention to the 1950 Mercury Custom “Bob Hope Special” that sold for $148,500. Produced by Lloyd Templeton and his sons, one may look at it and say “what were they thinking?” With a hood and front cowl measuring 7.5 feet, bumpers from a 1946 Pontiac and a front grill from that of a 1946 Dodge, one would be surprised to hear the car could reach 105 miles per hour. In the mid 1950s, the car was shipped to Hollywood to be in a Bob Hope film until the project was scrapped. Templeton left the Mercury in California and allowed Bob Hope to use it as he wished, thus the name Bob Hope Special.

You can view all the cars in RM’s Automobiles of Arizona on their website.

Photo © Michele Hamer