White-Wall Intertubes: RM launches first online car auction

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Online auctions make sense when you're looking for a digital camera or a replacement part for your car, but for buying an entire car? It's been working for years on eBay Motors, and now Canadian auction house RM Auctions is joining the fold.

Even those who don't closely follow classic car transactions may recognize RM as the auction house that set new records with the $10.8m ex-James Coburn 1961 Ferrari 250 GT California Spyder and then set 'em again with the $12.2m 1957 Ferrari 250 Testa Rossa at the annual Ferrari auction in Maranello. Ferrari has since launched an online benefit auction for research scholarships, and on August 9, RM will follow suit with its own premier online auction.

Registration starts July 10 and several enticing – albeit hardly record-worthy – vintage rides will be on offer, including a 1953 Cadillac convertible (pictured above) and a 1963 Corvette split-window coupe.
[Source: RM Auctions]


PRESS RELEASE

RM ANNOUNCES EXCLUSIVE ONLINE COLLECTOR CAR AUCTION
Online Auction

RM Classic Cars to conduct collector car sale completely via the Internet August 9, 2009 at www.rmauctions.com

BLENHEIM, ON (June 24, 2009) - RM Classic Cars is leading the way in the collector car hobby by offering buyers and sellers of vintage and special interest automobiles a convenient and credible means of conducting business over the Internet with the production of its exclusive online auction, Sunday, August 9, 2009.

"We're thinking outside the auction block," said Dan Spendick, Consignment Specialist, RM Classic Cars, Inc. "RM's 30 years of experience in the collector car hobby is being extended into the realm of e-commerce by offering our valued clients a cyberspace alternative to traditional auction venues."

Benefits of RM Classic Car Online Auction:

- RM's expert Car Specialists, providing a third-party assessment of each vehicle's condition with verification of proper titles and ownership, promote confident bidding and buyer satisfaction;

- Detailed condition reports and extensive photography of each consignment are featured at www.rmauctions.com for consideration weeks in advance of the sale;

- Transactions are conducted from the comfort of home or office, and without the expense and time commitment of travel to a traditional auction venue;

- Consignors' transportation costs are eliminated; and,

- RM offers successful bidders logistics assistance, including shipping and customs advice.

A varied collection of quality consignments from early brass-era cars up to the popular cars of the '50s, '60s and '70s, and including a few late-model exotics, will be presented for sale. Clients will use RM's proprietary online bidding interface to take part in the auction action.

Early highlights of the sale include a stunning 1953 Cadillac Series 62 Convertible, a pristine 1976 Triumph TR6 with only 10,000 actual miles, a matching numbers 300-horsepower 1963 Chevrolet Corvette Split-Window Coupe, and a very rare and fully-restored 1941 Fargo Pickup.

For further information and full event details, please visit www.rmauctions.com or call 1-800-211-4371 (within North America) or +1 519 352 4575.

About RM Auctions
Celebrating 30 years in the collector car industry, RM Auctions and its associated companies are responsible for acquisitions, restorations and sales of the world's rarest and most valuable vintage automobiles, including record-breaking sales in Maranello, Italy and London, England. RM's restoration division achieved unprecedented accolades in 2006, when the Company earned "Best of Show" honors at the world's top three collector car events in a single year. www.rmauctions.com