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AUCTION RECAP: RM SOTHEBY’S MOTOR CITY 2015

Originally published on www.hagerty.com

RM Sotheby’s concluded its 21st annual Motor City auction in Plymouth, Mich., on July 25 with a sales total of $7,402,450 and an average sale price of $119,394. Of the 78 cars offered, 62 sold, for a sell-through rate of 79%. These numbers are roughly the same as last year, when RM achieved $7,421,150 in total sales, an average sale price of $123,686 and a sell-through rate of 77% (60 sold out of 78 offered).

Predictably, the top sales of the day were large prewar American luxury automobiles, led by the ex-Lucius B. Manning Duesenberg Model SJ Dual Cowl Phaeton for $852,500. This year, though, RM brought out several European automobiles and late model collector cars, and big sales in the modern category included a ubiquitous low-mileage 2005 Ford GT at $319,000, a 2001 BMW Z8 at $192,500 and a 1988 Lamborghini LM002 for an identical (but a huge result for this model) $192,500. Strong sales at the lower end of the price spectrum included a 1984 Corvette that brought a staggering $19,250 and a 1972 BMW 2002 for an equally surprising $38,500.

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