RM Auctions Sets Records in Arizona - Results

RM Auctions' Sets New Sales Records For Most Valuable Duesenberg at $2.8 million and Most Valuable American-Built Muscle Car at $2.4 Million

At "Vintage Motor Cars at Arizona" Event - Phoenix, Arizona, January 19, 2007

PHOENIX, Arizona (January 22, 2007) - Fueled by a strong demand for investment quality collector cars, RM Auctions' recent event at the Arizona Biltmore reached $30 million for the annual one-day auction with six vehicles selling for over $1 million.

The day's top seller and new auction record for America's most renown luxury marque was a magnificent 1937 Duesenberg Model SJ Cabriolet, the last one built, which sold for $2,805,000 and followed by another auction record for an American-built muscle car - a rare 1971 Plymouth Hemi 'Cuda Convertible which sold for $2,420,000. Other seven-figure cars sold at the event included:

Other million-dollar auction cars that joined the list included:

-          1967 Shelby 427 S/C Cobra Roadster - Sold for $1,430,000.

-          1936 Mercedes-Benz 540K Special Cabriolet - Sold for
$1,028,500

-          1936 Delahaye Type 135 Special - Sold for $1,320,000

-          1963 Aston Martin DB4GT - Sold for $1,265,000

"The success of the Arizona sale reinforces RM's leading position in the auction market by offering the right cars, to the right audience, at the right place," remarks company founder Rob Myers. "These record breaking sales are always an exciting milestone for us and represent the continuous demand for investment quality automobiles such as these."

Known for their record breaking sales and award winning restorations, RM also sold several historically significant automobiles at the Arizona event including the "world's oldest Ford" - a 1903 Model A for $693,000 and the armor plated and bulletproof 1942 Lincoln Custom Limousine especially built by the Ford Motor Company for President Roosevelt which brought $605,000.

The complete list of sales results for this event can be found at www.rmauctions.com

Celebrating nearly 30 years in the collector car industry, RM Auctions Inc. and its sister companies are responsible for acquiring, restoring and selling the world's rarest and most expensive vintage automobiles. Renown for setting international records, RM has recently established operations in the U.K. to provide auction and restoration services for clients in Europe and Asia. In 2006, RM Restorations won the unprecedented "triple crown" for receiving "Best of Show" honors at the world's top three international collector car events - the Pebble Beach, Amelia Island and Meadow Brook Concours d'Elegance. For additional information on RM Auctions and this event, visit: www.rmauctions.com or call: (800) 211-4371