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Update Dallas | A central hub for market and real estate news affecting the Dallas region.

A central hub for market and real estate news affecting the Dallas region.



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New Sotheby’s, RM Auctions Group Plans Collectible Auto Sale in Fort Worth

February 20th, 2015 | by Michelle
collectible car - shutterstock_234021559

Photo / Konstantin Yolshin – shutterstock.com

NEW YORK – Sotheby’s and RM Auctions have formed a new strategic partnership as Sotheby’s acquires a 25 percent ownership interest in the world’s foremost collector car auctioneer, which will now be known as RM Sotheby’s.

This long-term investment comes as the more than $2 billion market for the finest automobiles continues to grow, presenting increasing opportunities for both companies. Sotheby’s and RM have collaborated on a number of successful sales in the United States and Europe, most notably the November 2013 Art of the Automobile auction in New York, which achieved nearly $63 million in just two hours and saw a new auction record set for a Ferrari 250 LM at $14.3 million.

Today’s announcement grows those previous partnerships and unites the two businesses for the full calendar of future automobile auctions. The first RM Sotheby’s sale will take place in Amelia Island, Florida, March 14, with additional auctions in Fort Worth, Texas, Lake Como, Italy, Monterey, California, London, England and New York among others scheduled for later this year.

Click here to read the news release.

President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with seven offices in Dallas, Fort Worth, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.

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