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| Company type | Privately held company |
|---|---|
| Industry | Auctioneering |
| Founded | Ontario, Canada (1991) |
| Founder | Rob Myers |
| Headquarters | Blenheim, Ontario |
| Area served | Worldwide |
| Key people |
|
| Products | Classic cars and memorabilia |
| Services | Auctions, private sales, financial services, valuations, estate planning, and restoration |
| Subsidiaries | RM Auctions |
| Website | RMSothebys.com |
RM Sotheby's is a collector car auction company headquartered in Blenheim, Ontario, Canada, with offices across the United States, Europe, and the Middle East. The company specializes in the sale of classic, vintage, sports, and exotic cars, and is responsible for the sale of seven of the top ten most expensive cars ever sold at auction.
History
Company
RM Sotheby’s, formerly RM Auctions, began as RM Auto Restoration in 1976, founded by Rob Myers as a small restoration shop with a focus on pre-war classics in Chatham, Ontario. In 1991, RM Auctions was formed, later hosting its first auction in Toronto, Ontario, in 1992. RM went on to host its first Monterey auction in 1997—which remains its biggest yearly event—its first Amelia Island auction in 1999, and its first Arizona auction in 2000, all of which became annual events.
In 2006, RM Auctions took its first international step, establishing operations in London, England; its new-formed European division later hosted its first sale in 2007 at the Ferrari factory in Maranello, Italy. Later in the same year, RM Auctions hosted its second European sale in London in association with Sotheby’s—the London sale would go on to become an annual event. In 2023, RM Sotheby’s expanded its global reach further with an official launch of its presence in Dubai.
Notable sales
In 2022, RM Sotheby’s set the record for highest-grossing collector car auction ever with their Monterey sale grossing $239,258,340. During their Monterey sale, RM Sotheby’s sold the world’s most expensive new Porsche: a 2022 Porsche 911 Carrera known as “Sally” for 3.6 million USD. Created by Porsche in collaboration with Pixar, “Sally” is based on the character of the same name: a 2002 Porsche 911 Carrera GTS from the movie Cars.
In 2022, RM Sotheby’s set a world record for the world’s most expensive Formula One car sold at auction at Sotheby’s Luxury Week in Geneva with the sale of Michael Schumacher’s 2003 Ferrari F2003-GA for CHF14,630,000.
Description
Today, founder Rob Myers remains the Chief Executive Officer.
References
- Hood, Bryan (2022-11-15). "From Ferraris to Jaguars: The 20 Most Expensive Cars Ever Sold at Auction". Robb Report. Retrieved 2023-06-21.
- "RM Sotheby's Timeline", RM Sotheby's. Retrieved 2023-06-21.
- "NORTH AMERICA'S LEADING AUCTION HOUSE CONQUERS BRITAIN WITH RECORD $38 MILLION UK SALE". RM Sotheby's. Retrieved 2023-06-21.
- "RM SOTHEBY'S EXPANDS GLOBAL REACH WITH OFFICIAL LAUNCH IN THE MIDDLE EAST AND NORTH AFRICA REGION". RM Sotheby's. Retrieved 2023-06-21.
- "Sally Carrera". www.porsche.com. Retrieved 2023-06-21.
- Ramsay, George (2022-11-10). "This Michael Schumacher Ferrari just smashed auction records". CNN. Retrieved 2023-06-21.
- "Estate Planning for Classic Car Collectors". RM Sotheby's. Retrieved 2023-06-21.