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Classics cleaning up at auctions

Wed, 09 Dec 2009
Car auction customers may or may not be aware of the positive performance of classic vehicles at this year's live sales events.

RM Auctions, the world's largest collector car auction house, has reported solid earnings for 2009.

On the company's 30th anniversary, it was announced they had sold more than 1,450 autos and generated more than $190 million (£117 million).

Also among this year's highlights was the breaking of the world record for most expensive car ever sold at auction.

This was the 1957 Ferrari 250 Testa Rossa, which sold in Maranello, Italy in May for some $12.4 million.

London was home to another record-breaker when a 1950 Aston Martin DB2 Team Car sold for $910,745.

Other highlights for that third annual October London event was an unrestored 1969 Mercedes-Benz Pullman Landaulet achieving more than five-times its pre-sale estimate.

UK auto aficionados can catch the next London event on October 27th.

President and chief operating officer Ian Kelleher said: "The market for quality motors cars ... remains stable, with outstanding cars continuing to attract great prices at auction."

To find out what Honest John has to say about buying at auction click here.

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