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The 1904 Rolls-Royce 10 hp Two-Seater is currently listed on the Guinness World Records as the most expensive veteran car to be sold, at the price of US$7,254,290 (equivalent to $10,660,000 in 2023), on a Bonhams auction held at Olympia in London on December 3, 2007.
The auction was originally meant as a one-time event, [9] but was more successful than expected, garnering 3,000 attendees. It became an annual event, [6] and eventually prompted the creation of other collector car auctions in the Scottsdale area. [10] Jackson's wife Nellie was a car enthusiast and also took part in the business. [11]
Mecum Auctions, Inc. is an American auction company specializing in collector cars and motorcycles. It was founded by Dana Mecum in 1988, and was originally based in Marengo, Illinois. Since 2011, it has been headquartered in Walworth, Wisconsin. The company hosts various auction events across the United States.
RM Sotheby's is a collector car auction company headquartered in Blenheim, Ontario, Canada, with offices across the United States, Europe, and the Middle East.The company specializes in the sale of classic, vintage, sports, and exotic cars, and is responsible for the sale of seven of the top ten most expensive cars ever sold at auction.
By 1966, Manheim Auto Auction established itself as the world's volume leader, selling off 45 vehicles per hour or 700 cars/trucks on a given Friday night at the 16-laned auction. Adding closed-circuit television, the dealers and wholesalers watched the auction from the new cafeteria in its expanded building.
In the United States, auto auctions play a major role as a wholesale market for second-hand vehicles. Most states only allow closed auctions, meaning only dealers can use them. [ 6 ] As of 2018, there were 139 used car-auction sites in the US open only to car dealers. [ 7 ]
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