RM Sotheby’s Auction in Paris: Bangs, Booms and Backfires

There’s no denying it—it’s an intense period for auctions. In less than a month, three cars have been offered for more than €20,000,000 in three separate sales. It started with the Porsche 917K in Kissimmee, then the Mercedes-Benz W196R Stromlinienwagen in Stuttgart, which set a new world record for a Grand Prix car, and finally the Paris sale featuring the Ferrari 250 LM ex-Le Mans. We’ve already discussed the first two extensively—today, let’s focus on the 1964 Ferrari 250 LM, a particularly interesting case.

For the first time, RM organized a two-day auction on February 4th and 5th, offering 109 cars and selling an impressive 93. Last year, only 59 cars were sold, but the comparison isn’t entirely relevant, as all the cars on the first day were offered without reserve. This auction, held in the prestigious commercial spaces of the Louvre Museum, was the largest ever in Europe. The estimated total value of the cars offered was €88,020,000, nearly double last year’s €49,290,000. The final sales figure reached €65,759,775, setting a new European record for any auction, again almost double the 2024 results. The average price per car also rose from €583,068 last year to €707,094.