Market Intelligence
RM Sotheby's. Prosperous Florida
Amidst shifting auction venues, RM's Miami event dazzles with a 77% sale rate, $48M+ in transactions, and record-breaking sales. Highlights include a Ferrari 250 Europa at $4.3M and a Bugatti Veyron at $3.1M. Mercedes and BMW also smash records.
Move and counter-move: RM's historic auction in Amelia could no longer take place since the competition had passed into the hands of Hagerty, the insurance company that created its own Broad Arrow auction house. RM did not give up and relocated to Miami, 250 kilometres from Amelia to Moda Miami. What was the result? A double victory: Broad Arrow as seen last week can make a full house. RM, however, is no different. This means that the US market, beyond the commercial bickering, is booming.
The numbers are magnificent: 77% of cars sold (84 out of 109), $48,148,960 in sales that changed hands. Admittedly the estimate was $74,950,000 but the competition was fierce this year and the average price of $573,202 was higher than at the Broad Arrow auction.
