RM Sotheby’s: Vintage Attraction
RM Sotheby’s Dare to Dream Collection of classic cars, motorcycles and memorabilia brings in a record $95 million at Toronto auction.
An auction recently held in Toronto by the famed RM Sotheby’s, a name synonymous with auctions in the collector car industry for more than 40 years, realized sales of $95 million, making it the largest on-site private collection ever sold in the acclaimed auction house’s history.
The Dare to Dream Collection of collector cars, motorcycles and memorabilia attracted more than 1,000 registered bidders from 41 countries across the globe, a testament to the power of the Sotheby’s brand and the quality of items that came under the gavel. Of the total sale of $95 million, $90 million was paid for cars and motorcycles and $5 million for sneakers and other memorabilia.
Among the highlights from the car auction was the 1972 Lamborghini Miura P400 SV by Bertone, which sold as the top lot of the sale at $6.7 million, close to $2 million more than its high estimate. The Dare to Dream Collection included the Ferrari “Big Five,” and each of them went to new owners during the live and online sale, including the 2003 Ferrari Enzo, the very first Enzo shown on North American soil, which sold for $5.8 million, approximately the same price fetched by the 1996 Ferrari F50. The 1985 Ferrari 288 GTO, the so-called cornerstone of the Big Five, sold for $5.2 million, with the 2015 Ferrari LaFerrari selling for just over $5 million and the 1990 Ferrari F40 selling for a bid of $4.75 million.
The Dare to Dream Collection was painstakingly created over a period of 20 years by a team of industry specialists and overseen by visionary Toronto businessman, philanthropist and community-builder Miles Nadal.
“Over the course of the Dare to Dream auction, RM Sotheby’s generated outstanding interest and we achieved wonderful results, including some world-record prices for the sale of classic cars, sneakers, automotive memorabilia and artifacts,” said Nadal. “I always believed that RM Sotheby’s was the best auction house for our extraordinary and unique collection, but history has proven they were the only firm that could have executed with such professionalism, precision and outstanding results. The entire Dare to Dream team, including myself, are deeply appreciative of all the success that we achieved.”
Three other classic cars sold at the auction are also worthy of attention. The 2005 Maserati MC12, one of only 50 road-going examples produced and finished in the quintessential MC12 livery of Bianco Fuji over Blu with blue interior trim, sold for $5.2 million. The 1973 Ferrari 365 GTB/4 Daytona Berlinetta sold for $1.4 million and the 1990 RUF BTR III “Flat-Nose” sold for just over $1 million — both exceeding their pre- auction estimates.
THE WHOLE TEAM WAS PASSIONATE ABOUT SHARING A GLOBALLY RECOGNIZED ‘MADE IN CANADA’ COLLECTION AUCTIONED IN TORONTO. THE AUCTION WAS A HUGE SUCCESS AND WE’RE THRILLED FOR MILES AND THE FANTASTIC CHARITABLE CAUSES BENEFITING FROM IT.
The Dare to Dream Collection also included a number of motorcycles that are revered in the pantheon of motorcycle history, including the 1914 Flying Merkel Model 471, which sold for close to $288,000, a 2014 Lotus C-01 “John Player Special,” which sold for $312,671, a 1938 Indian Four, with a winning bid of just under $140,000, and a 1949 Vincent HRD Black Shadow Series C, which sold for $123,000. Rounding out the top five motorcycles sold at the auction was a 1976 MV Augusta 750S America, which went to the top bidder at just under $107,000.
One of the most exciting and competitive items auctioned was in the memorabilia category, where vintage sneakers are among the most coveted items — and the Dare to Dream Collection captivated sneaker enthusiasts worldwide.
The top pair of vintage sneakers crossing the auction block was the 1972 Nike Waffle Racing “Moon Shoe.” This pair is one of the most significant artifacts in the history of the multi-billion-dollar athletic brand. One of only a handful of pairs known to exist, the “Moon Shoe” is a handmade running shoe designed by Nike co- founder and legendary Oregon University track coach Bill Bowerman. Incredibly, the “Moon Shoes” sold for an astonishing $419,637. There is no word if that included laces.
In the vintage sneaker category, Michael Jordan’s Air Jordan line is among the most coveted by collectors and the auction included a pair of Michael Jordan Autographed Player Exclusive Rookie Era Nike Air Jordan 1 Game sneakers. This pair is one of the most iconic designs in the history of both streetwear and basketball and played a key part in the origin of the Air Jordan brand for Nike. The pair went to its new owners for their winning bid of $222,161.
“From the shoes, the cars to the memorabilia, this collection truly showcased top-notch quality and was one of the largest collections ever sold by RM Sotheby’s,” said Gord Duff, RM Sotheby’s Global Head of Auctions. “The Dare to Dream Collection and everyone involved, including Miles Nadal and his team, have been part of the RM Sotheby’s family for over 15 years. We’ve had the pleasure of working closely with them, curating many of the cars and now overseeing the auctioning of the collection. The whole team was passionate about sharing a globally recognized ‘Made in Canada’ collection auctioned in Toronto. The auction was a huge success, and we’re thrilled for Miles and the fantastic charitable causes benefiting from it. A big ‘Thank you!’ from the whole RM Sotheby’s family to everyone involved.”
