Market Intelligence
RM Sotheby's Dare to Dream Collection: A Market Lesson
The RM Sotheby’s Dare to Dream auction saw record-breaking sales, including a 1972 Lamborghini Miura P400 SV for $4.9 million. Miles Nadal’s entire collection sold without reserve, fetching over $62 million.
The triumph of the Miura was undeniable at RM Sotheby's Dare to Dream auction. But let's start at the beginning. Miles Nadal, a well-known Canadian entrepreneur, had amassed an enormous collection of items over the years (in addition to cars, he has hundreds of pieces of memorabilia and even a $1 million sneaker collection).
Between May 31 and June 1, he put everything up for sale. Everything was without reserve, explaining the 100% sale of the 78 cars that went under the hammer. Surprisingly, the prices were record-breaking and one figure is enough to understand: The cars alone were estimated to bring in $52,715,000, but the total reached $62,237,800 with an average price of $797,922. No further comments are needed.
