RM Sotheby’s Phoenix Auction: Record Sales for Classic Cars and Youngtimers

Imagine this: The RM Sotheby’s auction in Phoenix, Arizona, taking place on January 24 and every single lot finds a buyer. It continues, sale after sale, all the way to the 66th lot! I can’t recall anything like this in recent years: A sequence of successes lasting nearly three hours.

The success is confirmed by the numbers: 88 cars offered this year, compared to 83 last year, with 82 sold — 93.18% (compared to 77.11% in 2024). The total amount sold was also impressive, nearly reaching 100% of the estimate: $31,615,000 offered and $31,226,360 sold, with the average price climbing from $355,418 in 2024 to $380,809 this year. Meanwhile, the percentage of no-reserve lots also increased, from 47% to 62.5%.

The cars themselves were a big success, starting with the top lot, a 1958 Ferrari 250 GT LWB Berlinetta Tour de France. This single-louvered model with covered headlights had participated in the 1000 km of Buenos Aires. Painted in light gold with leather interior (originally burgundy), it was estimated at $3.5–4.5 million. For comparison, another gold-colored example from 1959 was sold just last year for over $5 million. It sold for $3,772,500 — a top lot but a relative success only for the seller, who had purchased it in 2006 for $1,540,000.

1958 Ferrari 250 GT LWB Berlinetta "Tour de France" sold for $3,772,500 (€3,600,000).

Among the most expensive cars was also a 1956 Mercedes-Benz 300SL Gullwing with all the best features. It had the more powerful NSL engine, Rudge wheels, sports suspension, and a Nardi steering wheel—all original to the car. Initially red with a black interior, it’s now silver with a red interior—non-original but well-matched. The estimate of $1.6–2 million aligned with the market, but its rare features pushed the bidding to $2,040,000, making it the fourth most expensive non-aluminum Gullwing ever sold.

1956 Mercedes-Benz 300 SL Gullwing sold for $2,040,000 (€1,947,000).

Even pre-war cars did exceptionally well, like a new record for a Bentley 8 Litre. The 1931 Convertible Victoria was the only 8 Litre bodied by an American coachbuilder (Murphy). Fun fact: The same designer who styled this road cruiser also created the 1955 Ford Thunderbird. With a complete professional restoration in 2012 highlighting its originality (matching numbers for engine and chassis, as well as gearbox, steering, differential, body, and suspension), it’s no surprise the $2.75–3.25 million estimate far exceeded the current record of $2.2 million. It nearly hit the upper limit, selling for $3,195,000.

1931 Bentley 8-Litre Convertible Victoria sold for $3,195,000 (€3,050,000).

In Phoenix, even youngtimers didn’t disappoint. A standout was the “ride” of the 1984 Audi Quattro Sport SWB. This example, nicknamed the “F40 killer” thanks to Lehmann tuning, boasted 435 bhp (130 more than the standard version). It even beat two F40s in a hill climb. The $375,000–475,000 estimate seemed reasonable, but after intense bidding, it first broke the road car record of $665,000, then sold for $758,500.

1984 Audi Sport Quattro sold for $758,500 (€724,000).

The Ferrari 458 Speciale also lived up to its name. Built in 2015, it featured a stunning Blu Tour de France livery with NART stripes, a tan interior, 5,106 miles, and some carbon fiber accents. The $400,000–475,000 estimate seemed to signal the end of the glory days for this model, which used to fetch $600,000 (record: $626,000). But two determined bidders pushed the price to $786,000—almost double the low estimate.

2015 Ferrari 458 Speciale sold for $786,000 (€750,000).

Another strong performer was a 1989 Porsche 911 Speedster with a generous 22,800 miles. Estimated at $200,000–250,000, it sold for $280,000.

1989 Porsche 911 Speedster sold for $280,000 (€267,250).

Was everyone really happy? Not quite. Take the case of the 1964 Chevrolet Corvette Stingray Convertible. With a 327/365 engine, Fire Red paint, all ID tags, and a solid collection of awards, it was purchased last January at Barrett-Jackson in Scottsdale for $192,500. A year later, it was estimated at $150,000–200,000 with no reserve. But bidders were hesitant, and it sold for just $84,000. Only the buyer was happy.

1964 Chevrolet Corvette Sting Ray Convertible sold for $84,000 (€80,500).

What would I have taken home? The car that fascinated me the most was right at the start of the auction: a 1995 BMW M3 Coupe in yellow with a black interior. With E30 M3 prices skyrocketing and E46 prices starting to climb, the E36 is inexplicably affordable. This superb example had just one owner and only 4,832 miles. Estimated at $50,000–70,000 (no reserve), a very shrewd bidder snagged it for $89,600. It’s hard to find a better E36.

1995 BMW M3 sold for $89,600 (€85,500).