Sotheby’s Partners with the Leading Auctioneer of Premium Collectible Automobiles

Sothebys and RM Auctions have proudly announced the formation of
their most recent partnership. Sothebys acquired 25 percent
ownership interest in the worlds leading auctioneer of premium
collectible automobiles, RM Auctions, and will now operate as RM
Sothebys.

Sothebys and RM have collaborated in the past on a number of
successful sales, one including the Art of the Automobile
auction which achieved nearly $63 million in just two hours.
Sothebys will have opportunities to increase their ownership as the
partnership evolves working together to drive growth.

Rob Myers, Chairman and Founder of RM Auctions added, The
partnership that has been formed between RM Auctions and Sothebys
is undoubtedly the most effective way for us to reach the
ever-growing worldwide audience of collectors who take a keen
interest in the collector car asset class. No other organization in
the world has a client base as far-reaching as Sothebys and since
we have worked so closely and successfully with them in the past,
it makes perfect sense that we form a strategic partnership that
creates a truly worldwide platform for collector cars. Its an
exciting time in our company history, and for the hobby at
large.

Bill Ruprecht, Sothebys President, Chairman, and CEO, commented
on the excitement that Sotheby’s has for joining such aclear market
leader in the field.RM has established a formidable position that
will only be strengthened by this new phase in our relationship.
Just last year, RM set a new benchmark for a collector car auction
with their flagship Monterey sale totaling more than $140 million,
eclipsing the previous record they had established in 2013. The
incredible synergy between our businesses, including significant
overlap of top collectors and a focus on new markets, will be
further strengthened as we work together to expand the classic car
collector base. RMs ownership of the high end of the market coupled
with our global client network positions us for great success at a
time when the market for investment-quality motor cars has never
been stronger.

Sothebys Auction House was founded in
1744, the Sothebys name has earned renown as a marketer of the
worlds most valuable and prestigious possessions. The Sotheby’s
International Realty network was founded in 1976 to provide
independent brokerages with a powerful marketing and referral
program for luxury listings. From 2004 to 2014 over $1.2 Billion of
sales have been referred to Sothebys International Realty from the
Sothebys Auction House.

Source: Sotheby’s