Sixty days after its first impromptu online sale, RM opened its first dedicated online auction. The days leading up to this event must have been busy: RM consigned 193 cars, ranging from a Ferrari Enzo to a 1969 Austin America.
The auction house also refined its online platform since its first attempt, presenting substantially more documentation and more comprehensive condition reports. Several cars had addenda with clarifications.
The results of these efforts were 114 sales, for a 59.1 percent sell-through rate, and a total of $16,250,410 (not including one lot sold post-block for an undisclosed amount).
The main element lacking, here and with other online sales, is excitement. We followed many cars through seven preview days, during which most received few bids. The action took place in the final minutes. There’s no auctioneer wheedling the room for another bid, no ringman crying out a raise. But RM, and everyone else, is still figuring this out.