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Two Cars Worth $2 Million Consigned to Upcoming RM Auction at Amelia Island

7 March 2000

Two Cars Worth $2 Million Consigned to Upcoming RM Auction at Amelia Island

    Sale Location:                      Amelia Island, Florida
    Sale Date:                          March 11, 2000
    Number of vehicles in sale:         65 classic, sports and race cars
    Sales forecast:                     $8 to $10 million


    BLENHEIM, Ontario, March 7 RM Auctions, Inc. announced
today it consigned a 1934 Alfa Romeo Tipo B (P3) and a 1965 Ferrari 250LM,
each worth $2 million, to its Vintage Motor Cars at Amelia Island auction
event.  Held on the grounds of the Amelia Island Ritz-Carlton, the public sale
is the official auction of the Amelia Island Concours d'Elegance.
    "Our 1934 Alfa racing car definitely tops the list of the world's rarest
and most significant," said auction company president, Mike Fairbairn.
"Originally, the car was raced by Scuderia Ferrari, Enzo Ferrari's race team
which was the precursor to his automobile manufacturing company."  The bright
red, open cockpit Alfa was highly advanced for its day, dominating the
European racing scene between 1934 and 1939.  It was one of only 11 built, he
said.
    The Ferrari 250LM, while not as old as the Alfa, is still very rare.
"It's one of only 32 cars built," Fairbairn said.  "What makes this car
especially significant however, is the fact that it has been owned and
maintained by the same man for the last 25 years.  It's a car that has been
out of the marketplace for a very long time, and we're pleased to have it as
our auction's feature car."
    Both cars are well-documented originals with race history.
    Fairbairn also noted that to date, almost 70 top-quality, investment grade
vehicles have been consigned to the Vintage Motorcars at Amelia Island
auction, along with rare watches and other collectibles.

    RM Auctions, Inc. is a subsidiary of RM Classic Cars.  RM Classic Cars is
a multi-faceted automotive firm that serves the collector car market.  Core
businesses include auctions, collector car sales and restorations.  RM is the
largest commercial enterprise in the collector car world today, offering a
diverse array of products and services oriented toward car collectors and
their antique automobiles.