RM Sotheby’s launched a new Private Sales division by offering a 1998 McLaren F1 ‘LM-Specification’ and a Pebble-Beach winning 1928 Mercedes-Benz 680 S Torpedo-Sport Avant-Garde.
RM Sotheby’s expanded by launching a new Private Sales division to discretely sell high-end cars privately rather than through public auction. The launch car is a 1998 McLaren F1 ‘LM-Specification’ while other notable cars include a 1928 Mercedes-Benz 680 S Torpedo-Sport Avant-Garde by Saoutchik that took Best of Show at the Pebble Beach Concours d’Elegance, a 1930 Bentley 61/2-Litre ‘Speed Six’ Sportsman’s Saloon and a 1961 Ferrari 400 Superamerica SWB Coupe Aerodinamico.
You snooze, you loose – RM Sotheby’s announced the 1998 McLaren F1 ‘LM-Specification’ sold within ten days of announcing its availability. The price remains secret, which is the idea of private sales.
RM Sotheby’s Announced Private Sales Division
RM Sotheby’s, the world’s largest auction house for investment-quality automobiles, has announced that it will expand its reach and level of client service with the creation of RM Sotheby’s Private Sales, a division of the RM Sotheby’s Group.
For more than two decades, RM Sotheby’s has been trusted to handle the discreet sale of many of the world’s most significant collector cars. June 2018 will see the formal launch of RM Sotheby’s Private Sales division and providing increased ease of service to RM Sotheby’s global network of clientele.
RM Sotheby’s Private Sales division provides collectors with discreet and honest advice, coupled with unparalleled global transaction execution. The division offers a tailored approach to clients through each stage of a private sale, from analysis, to acquisition and deaccession. Thanks to the company’s extensive auction experience, the Private Sales division is equipped with an arsenal of tools to achieve the best possible result for any car the team is entrusted with.
Launch Cars for RM Sotheby’s Private Sales
Several high profile cars were announced for the launch of the RM Sotheby’s Private Sales division:
1998 McLaren F1 ‘LM-Specification’
RM Sotheby’s will launch its official Private Sales division with the most iconic supercar of the modern era—a 1998 McLaren F1 ‘LM-Specification’. The 63rd and penultimate road-specification example built, the car on offer is one of just two F1s upgraded by McLaren Special Operations with the LM-spec engine, the same engine as fitted in the limited edition, stripped-down F1 LMs. Furthermore, it also received the ‘Extra High Downforce Package’ in period, while retaining its road-specification interior, which features numerous upgrades, including satellite navigation. One of the most desirable examples in existence, the McLaren offers the best of both worlds: a fully street-legal F1 with LM performance and modern upgrades for driver comfort.
Price is available on request but the same car achieved $13,750,000 at the RM Monterey 2015 auction. Bonhams increased this then marque record when a 1995 McLaren F1 sold for $15,16,620,00 at the Quail Lodge 2017 classic car auction during Monterey Week 2017. The price of the unregistered 1995 McLaren F1 offered privately remains unknown.
RM Sotheby’s announced the 1998 McLaren F1 ‘LM-Specification’ sold within ten days of announcing its availability. The price remains secret, which of course is the idea of private sales.
1928 Mercedes-Benz 680 S Torpedo-Sport Avant-Garde
Another high-profile car on offer for private sale is the 1928 Mercedes-Benz 680 S Torpedo-Sport Avant-Garde by Saoutchik. This 1929 New York Auto Salon car is the only survivor of three built. The restored car was awarded a perfect 100 point at the 2012 Pebble Beach Concours d’Elegance and awarded Best of Show. A year later it took First in Class at the 2013 Concorso d’Eleganza Villa d’Este on the shores of Lake Como, Italy.
The 1928 Mercedes-Benz 680 S Torpedo-Sport Avant-Garde is offered for $7,000,000 – near the unsuccessful €5.5 million bid at the RM Sotheby’s Villa Erba 2017 sale. However, it is more than a million less than the $8,250,000 paid for the car at RM Auctions Monterey 2013 sale.
Additional cars currently on offer through RM Sotheby’s Private Sales include:
- 1930 Bentley 61/2-Litre ‘Speed Six’ Sportsman’s Saloon
- 1960 Mercedes-Benz 300 SL Roadster – $1,300,000
- 1961 Ferrari 400 Superamerica SWB Coupe Aerodinamico
- 1966 Ferrari 275 GTB Alloy
- 2003 Aston Martin DB AR1 Zagato – $395,000
Further inventory and other prices are available upon request.
RM Sotheby’s Private Sales Division
Myers adds: “It is important to note that private sales have always been a large part of our ongoing business and for some of our clients it is the preferred arena for transacting. Historically, we have always worked with collectors to service this need, and we will continue to work with industry leaders including dealers and brokers, understanding that to be successful on behalf of the client, one must collaborate rather than compete”.
The Private Sales division is led by veteran car specialist and Global Head of Private Sales, Shelby Myers, alongside Jarrett Rothmeier, Chief Financial Officer for the RM Sotheby’s Group, and the team’s newest addition, Armando Petretti, Private Sales Car Specialist.
Shelby Myers, Global Head of Private Sales offers, “The newly established Private Sales division offers clients the unique advantage of leveraging the knowledge of RM Sotheby’s global team of 29 car specialists, combined with the company’s expansive client relationships, in-house research team, renowned marketing and creative departments, and public and private showrooms in both North America and Europe. Above all, clients can be secure in knowing that RM Sotheby’s Private Sales is committed to upholding client confidentiality across all divisions and at every step of the transaction process.”
Continuing; “Our auction platform provides us with the unique ability to gauge supply and demand and subsequently provides the foundation of market intelligence that many dealers and brokers simply do not have access to. Leveraging the largest balance sheet in the industry, the RM Sotheby’s Private Sales division has the ability to financially support any transaction or requirement of immediate capitalization.”
The global reach of the Private Sales division will expand across continents and cover a truly global marketplace. The division will have prominent visibility at RM Sotheby’s annual roster of auction events, debuting at the upcoming RM Sotheby’s flagship Monterey sale. The bespoke exhibition at the newly-renovated Monterey Conference Center, 24-25 August, will mirror the high level of presentation synonymous with the RM Sotheby’s name.