The First Art Newspaper on the Net   Established in 1996 United States Friday, September 20, 2019

RM Sotheby's reports $526 million in global auction sales in 2017
Sotheby's Contemporary Evening Sale. Photo: Courtesy RM Sotheby's.

BLENHEIM, ON.- The RM Sotheby’s Group, comprising both RM Sotheby’s and RM Auctions*, has maintained and extended its leading market position in collector car auctions in 2017, reporting more than $526 million in global auction sales with a strong 80 percent sell-through rate.

2017 results were driven by the sale of 2,852 lots (vehicles and memorabilia) across 14 auction events, with 119 automobiles achieving prices in excess of $1 million. The $526 million total surpasses the sales total of RM Sotheby’s primary competitors combined, and represents a 17 percent increase in sales over 2016 results.

Demonstrating the strength of the RM Sotheby’s Group’s international marketing efforts, more than 5,700 unique bidders participated in 2017 sales, hailing from 64 countries around the world. Significantly, 40 percent of bidders over the last year represented new RM Sotheby’s clientele as the auction house continues to expand its global reach. Furthering these efforts, the RM Sotheby’s Group launched a new website in September 2017. The company’s web presence has attracted over 10.9 million visits throughout the year, 58 percent of which were from new users.

“In all respects, 2017 represented a resounding success for RM Sotheby’s as we saw significant growth in our sales, market share, and continued positive momentum in the business despite challenging market conditions in which many major auction houses experienced declining sales,” says Kenneth Ahn, President, RM Sotheby’s, as he reflects on the year. “We saw the softness in the market continue in 2017, though rare, high-quality cars continued to achieve exceptional prices as evidenced by the Aston Martin DBR1, which sold for $22.55 million in Monterey, and the alloy Ferrari 250 GT LWB California Spider Competizione, which sold for $17.99 million in New York. As we look ahead to 2018, we are focused on maintaining our market leadership in the U.S. and Europe while continuing to grow our client relationships in Asia and the Middle East. Furthermore, we plan to better meet our clients’ needs in private sales and financing. We are excited and optimistic about the opportunities ahead.”

Ahn continues: “We have an incredibly dedicated global team of nearly 150 people who are committed to building lasting client relationships with sound advice, offering the highest quality motorcars in the world, and delivering successful results. We are grateful for the trust and confidence our clients have in us, and we will continue to work on exceeding our clients’ expectations in 2018.”

New Leadership
The end of 2017 marks one full year for Kenneth Ahn as President of the RM Sotheby’s Group. Under Ahn’s leadership, the company strengthened its executive team via the promotion of auction management veteran Gord Duff to Global Head of Auctions; Ian Kelleher, long-time specialist who has been integral to the Sotheby’s partnership, to Chief Marketing Officer; Jarrett Rothmeier, experienced financial professional and Ferrari consultant, to Chief Financial Officer; and the addition of Daniel Levy, former Managing Director at Goldman, Sachs & Co., as Head of Strategy and Corporate Development. Car Specialist Shelby Myers will also take the reigns as Global Head of Private Sales as the company expands this division for 2018. The RM Sotheby’s Group also continues to add to its global team of expert car specialists—which now totals 29, the largest in the industry—to enhance the company’s client coverage. Eight specialists have joined the team in 2017 in both the North American and European segments of the business.

Momentous Sales in 2017
2017 has marked numerous record-setting sales for the RM Sotheby’s Group, most significantly led by the top collector car sale of the year with the 1956 Aston Martin DBR1/1, which sold for $22,550,000 at RM Sotheby’s $133 million Monterey sale. The DBR1 not only smashed the previous auction record for the marque, it also entered the history books as the most valuable British car ever sold at auction.

The RM Sotheby’s and Sotheby’s partnership has continued to prove itself as a winning combination in creating a truly global platform for collector cars in 2017, with further collaboration and cross-collecting efforts between the two companies across the calendar of events. Notably, RM Sotheby’s Monterey sale featured a curated selection of watches and jewels from the Sotheby’s team, as well as an onsite Shop Now collection within the auction tent. RM Sotheby’s final sale of the year, ICONS, opened with a selection of vintages from the Sotheby’s Wine team, and was held as a featured highlight of Sotheby’s inaugural A Life of Luxury week in New York, offering the best of watches, jewels, wine, fashion, and cars. In what was perhaps the ultimate culmination of the partnership and one of the most highly publicized automotive auction lots ever offered, RM Sotheby’s presented Michael Schumacher’s Monaco Grand Prix-winning Ferrari F2001 within Sotheby’s Contemporary Art Evening Sale in November. Selling for a final $7,504,000 to a client new to both RM Sotheby’s and Sotheby’s, the F2001 was a defining moment in the history of contemporary car auction sales. Smashing records in terms of views, reach and ultimately price, the F1 Ferrari successfully redefined the conversation surrounding car auctions executed in the same sphere as art sales.

Overall, the RM Sotheby’s Group was responsible for 13 of the top 20 collector car auction sales of 2017, and now holds six of the top 10 all-time records for the most valuable motor cars sold at auction.

Today's News

December 16, 2017

Peru recovers 79 pre-Hispanic textiles from the Museum of Gothenburg in Sweden

Hayward Gallery Director Ralph Rugoff announced as the Curator of La Biennale di Venezia

United States returns to Lebanon relics stolen during civil war

Jade and gold burial suit, finest to survive ancient China, featured in Nelson-Atkins exhibition

National Air and Space Museum releases "VR Hangar" app

Infamous lock in US Watergate political scandal sells for $62,500

Art Institute receives outstanding endowment gift from Ruttenberg family

ARKEN invites visitors to step inside Ugo Rondinone's dreamscape inhabited by 45 lifelike clowns

Dee Dee Ramone Fender Precision Bass sells for more than $35,000

Trove of works on paper by sculptor Henry Moore joins The Huntington's collections

Ulterior Gallery opens a solo exhibition by the late Japanese artist Yasuo Ihara

World record for the oldest known and only surviving Japanese clock-driven celestial sphere in the world

Rebekah Beaulieu appointed Director of the Florence Griswold Museum

BALTIC Centre for Contemporary Art displays a selection of recent paintings by Sofia Stevi

Claude Lalanne's record "Crocodile" bureau tops Sotheby's $26.4 million Design Auctions in New York

Artworks and personal effects from the estate of artist John Douglas Patrick will be sold online Jan. 15

Stedelijk Museum announces first exhibition of graphic designer Wim Crouwel in Japan

Gerard Byrne presents a new video installation at Kerlin Gallery

'Jewels of Time: Watches from the Proctor Collection' opens in Utica

New Orleans Museum of Art to break ground on six-acre expansion of sculpture garden

New exhibition series highlights global context of American portraiture

Weinstein Gallery celebrates 25th anniversary with the West Coast premiere of film by Oskar Fischinger

RM Sotheby's reports $526 million in global auction sales in 2017

Throckmorton Fine Art opens exhibition of photographs by Brazilian photographer Valdir Cruz

Most Popular Last Seven Days

1.- Holocaust 'masterpiece' causes uproar at Venice film festival

2.- To be unveiled at Sotheby's: One of the greatest collections of Orientalist paintings ever assembled

3.- Bender Gallery features paintings by up and coming Chicago artist Michael Hedges

4.- Lévy Gorvy exhibits new and historic works by French master in his centenary year

5.- Artificial Intelligence as good as Mahler? Austrian orchestra performs symphony with twist

6.- Fascinating new exhibition explores enduring artistic bond between Scotland and Italy

7.- Exhibition explores the process of Japanese-style woodblock production

8.- Robert Frank, photographer of America's underbelly, dead at 94

9.- The truth behind the legend of patriot Paul Revere revealed in a new exhibition at New-York Historical Society

10.- Hitler bust found in cellar of French Senate

Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .


Ignacio Villarreal
(1941 - 2019)
Editor & Publisher: Jose Villarreal
Art Director: Juan José Sepúlveda Ramírez

Royalville Communications, Inc
Founder's Site. The most varied versions
of this beautiful prayer.
to a Mexican poet.

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful