When you see some of the prices being recorded in the auctions around the world, you have to admit that the economy is bouncing back and the rich are loosening their purse strings decisively. The recent example is the RM Auctions’ 2011 Amelia Island sale. A classic collection of cars was put on the block and some record prices were recorded after the event, far exceeding the pre sale estimates.
The iconic 1952 Ferrari Mexico Coupe was dubbed the most important item up for auction and as expected it turned out to be the top seller and went for a record price of $4.29 million. It also helped in creating a record in total sales at the auction. The rare car with the chassis number 0224 AT came from a private collector Larry Nicklin and was expected, as per pre sale estimates, to fetch a price between $2.75 and $3.5 million.
A 1953 Ferrari 212 Inter Vignale Coupe, also from Nicklin Collection was also a top seller fetching $660,000. The higher end of its pre sale estimate was $550,000. The 2011 Amelia Island sale managed a record sales of $24.3 million. It is the highest revenue earned by the event in 13 years of its existence. There were three classic cars in the auction that missed the million mark by a small margin. A 1930 Alfa Romeo 6C 1750 GS Spider that fetched $990,000, a 1933 Duesenberg Model J Torpedo Victoria that was sold for $979,000 and a 1930 Duesenberg Model J Convertible Coupe received $962,500.