TEXAS-SIZE COLLECTION OF AMERICAN CLASSICS BRINGS LIVELY BIDDING TO THE LONE STAR STATE

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SOUTHLAKE, Texas (April 22, 2008) – Auto aficionados from across North America and as far away as Europe descended on North Texas on the weekend as local entrepreneur and lifelong collector, Mr. Wayne Davis, offered his personal collection of classic cars at auction.

Hosted by Canadian-based RM Auctions, and held at the Wayne Davis Estate in Southlake, it was standing-room only at the single-day event, which not only offered a range of exclusive ownership opportunities for serious collectors, but also treated them to a good dose of genuine Texan hospitality.

The six-hour, ‘no reserve’ sale saw 78 cars and 45 lots of automotive themed memorabilia cross the block, resulting in over $8.4 million in total sales.

“With an eye for quality and rarity, Wayne Davis had amassed an enviable collection of classic cars,” said RM veteran and Sale Manager, Dan Spendick.

Serious collectors recognized the magnificent quality and condition of the cars and the results reflected this, with not only a large number of bidders onsite, but also bidding via the internet and over the phone.

“Overall it was a magnificent sale of a wonderful, personal collection with spirited bidding evident throughout the day,” Spendick added.

Headlining Saturday’s sale was a 1953 trio of GM’s finest, comprising of a low-production 1953 Cadillac Eldorado Convertible, which sparked lively bidding and brought $440,000, a striking 1953 Oldsmobile Fiesta Convertible which sold for $253,000 and an ultra-luxurious 1953 Buick Skylark Convertible for $203,500. Also attracting significant interest were a pair of Hollywood-worthy, Italian-styled Dual-Ghias – a handsome 1957 Dual-Ghia Convertible, which was won with a final bid of $319,000, and an extremely rare 1963 Dual-Ghia L6.4 Coupe for $275,000.

Other notable highlights included:
• A 1960 Plymouth Fury Convertible, believed to have been on display at the Mexico International Auto Show, sold for $253,000 • A stunning 1947 Cadillac Series 75 Seven-Passenger Imperial Sedan brought $231,000 • A rare and highly sought after 1957 Cadillac Eldorado Brougham sold for $220,0000 • A 1954 Buick Skylark, originally purchased by Amon Carter, the creator and publisher of the Fort-Worth Star-Telegram and a nationally known civic booster for Fort Worth, achieved $220,000

The sale also incorporated 45 lots of automotive themed memorabilia. Proving everything is certainly bigger in Texas, a giant 32 foot neon Cadillac sign, which once adorned a Cadillac dealership in Texas, sold for an impressive $115,000.

The auction festivities commenced on April 18, with a full day preview followed by a Texas-flavored gala reception, proudly sponsored by Dallas-based ‘Luxury Boy Toys’.

“It was a wonderful experience – well organized, fabulous weather and a great atmosphere,” said Mr. Davis upon reflecting on the weekend’s sale.

“After over 20 years of collecting, my cars were really like part of the family, so it was great to see so many other passionate collectors at the sale, and reassuring to know that my cars are going to deserving homes,” he added.

For other enthusiasts looking to downsize their personal collections, Mr. Davis is quick to recommend going with an auction house as opposed to private sale.

“It was more than an auction – it was an event,” added Davis. “I went with RM as they are the specialists, and they certainly didn’t disappoint. From start to finish, they had a good team of people working behind the scenes and did a great job at coordinating all the different aspects.”

RM Auctions will head to the Motor City later this week for the annual Classic Car Auction of Michigan, followed by a much-anticipated return to Maranello, Italy on May 18 for the Ferrari: Leggenda e Passione auction event, hosted in association with Sotheby’s. In June, RM will present two important, private Southern California collections for auction -– the esteemed Joe’s Garage: Joe MacPherson Collection, and the renowned Art Astor Collection.

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