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Top Cars at RM Auction Sell for $2 Million Each RM AUCTIONS

14 March 2000

Sale's feature car - the Ferrari 250LM - sold for $2.3 million

    AMELIA ISLAND, Fla. - A 1965 Ferrari 250LM and a 1934 Alfa Romeo Tipo B (P3) 
race car sold for over $2 million each at the Vintage Motor Cars at Amelia Island 
auction.  The sale, held at the Ritz-Carlton, is the official auction of the 
Amelia Island Concour's d'Elegance.
    
    "The sale of these two vehicles was right in line with our expectations,"
said RM Auctions president, Michael Fairbairn.  "In addition to these, we sold
a 1966 Ferrari 275 GTB Competizione for $1.07 million and a Ferrari 250GT
Spyder California for 1.15 million.  That's four cars at over $1 million in
one afternoon."  Unofficially, the auction sold over $14 million worth of
automobiles and had a sell rate of more than 80 percent.

    "This year's Vintage Motor Cars at Amelia Island event really helps
solidify RM as one of the world's premier auction houses for both buying and
selling automobiles," Fairbairn said.  "Our events consistently earn our
consignors top market value for their cars and provide buyers with a selection
of the highest quality, investment grade automobiles."

    Notable cars in the sale:
    1965 Ferrari 250LM -- SOLD FOR $2.3 MILLION
    1934 Alfa Romeo Tipo B (P3) -- SOLD FOR 2.1 MILLION
    1967 Ferrari 275 GTB/4 -- SOLD FOR $440,000
    1931 Duesenberg Model J Derham Tourster -- SOLD FOR $720,000
    1957 Chevrolet Bel Air Convertible (Fuel Injected) -- SOLD FOR $88,000
    1958 Bentley S1 Drophead Coupe -- SOLD FOR $330,000
    1929 Duesenberg Model J Sport Sedan -- SOLD FOR $520,000
    1934 Packard 12 Coupe Roadster -- SOLD FOR $320,000
    1991 Ferrari Formula 1 race car -- SOLD FOR $350,000