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June 14. 2012 8:27PM
Dingman car auction nets $9.88M
Last weekend’s auction of antique and restored automobiles in Hampton generated $9.88 million in sales, exceeding expectations of prices for several collectible automobiles as well as neon signs, the auctioneer said.
The auction involved nearly 50 automobiles collected by Michael Dingman, a former New Hampshire businessman and one-time Ford Motor Co. director.
Dingman had stored them in New Hampshire, and had decided to divest his collection.
“We are delighted with the results from the weekend’s Dingman Collection sale,” said Mike Fairbairn, co-founder of the auction firm, RM Auctions, in a prepared statement. “The Dingman Collection was without question, one of the finest of its kind.”
The highest transaction was $396,000 for a 1936 Ford Model 48 Cabriole. The rare automobile was a winner at the 2011 Pebble Beach Concours d’Elegance auto show.
A 1938 Lincoln-Zephyr Coupe also drew strong bids, fetching $330,000. RM Auctions had estimated the car would go for $125,000 to $175,000.
Dingman’s prized 2005 Ford GT, the second of its kind off the Ford assembly line, went for $242,000.
In the statement, Dingman complimented RM Auctions for its work.
“We were particularly impressed with the focus, spirit and competence of the RM team and how they treated guests and community people of all types and functions,” he said.
Six years ago, the company conducted a similar auction, which generated sales of about $8 million.
The two-day sale also featured Dingman’s collection of automotive and related signs, including neon signs. Some sold for more than the price of the cars they advertise.
The top sale was a circa 1950 Ford “Jubilee” sign, which fetched $39,100, topping a pre-sale expectation of $20,000 to $25,000. A striking Lincoln Mercury neon sign went for $37,950, and a Ford Illuminated Sign sold for $27,025, more than five times its pre-sale estimate.
A collection of 21 Route 66 signs sold for $29,900.
“Just the signs alone attracted a huge crowd, and many records resulted as these highly knowledgeable bidders fought each other for the best and most desirable lots in the sale,” Fairbairn said.
RM Auctions said the sale attracted bidders from 34 states as well as Europe, South America and the Middle East. Thirty-seven percent of bidders represented first time clientele.
RM Auctions said Dingman held the 2006 auction because he was in poor health.
His health returned and he resumed collecting but has since decided to sell off the collection to devote more time to other pursuits, the company said.
The auction involved nearly 50 automobiles collected by Michael Dingman, a former New Hampshire businessman and one-time Ford Motor Co. director.
Dingman had stored them in New Hampshire, and had decided to divest his collection.
“We are delighted with the results from the weekend’s Dingman Collection sale,” said Mike Fairbairn, co-founder of the auction firm, RM Auctions, in a prepared statement. “The Dingman Collection was without question, one of the finest of its kind.”
The highest transaction was $396,000 for a 1936 Ford Model 48 Cabriole. The rare automobile was a winner at the 2011 Pebble Beach Concours d’Elegance auto show.
A 1938 Lincoln-Zephyr Coupe also drew strong bids, fetching $330,000. RM Auctions had estimated the car would go for $125,000 to $175,000.
Dingman’s prized 2005 Ford GT, the second of its kind off the Ford assembly line, went for $242,000.
In the statement, Dingman complimented RM Auctions for its work.
“We were particularly impressed with the focus, spirit and competence of the RM team and how they treated guests and community people of all types and functions,” he said.
Six years ago, the company conducted a similar auction, which generated sales of about $8 million.
The two-day sale also featured Dingman’s collection of automotive and related signs, including neon signs. Some sold for more than the price of the cars they advertise.
The top sale was a circa 1950 Ford “Jubilee” sign, which fetched $39,100, topping a pre-sale expectation of $20,000 to $25,000. A striking Lincoln Mercury neon sign went for $37,950, and a Ford Illuminated Sign sold for $27,025, more than five times its pre-sale estimate.
A collection of 21 Route 66 signs sold for $29,900.
“Just the signs alone attracted a huge crowd, and many records resulted as these highly knowledgeable bidders fought each other for the best and most desirable lots in the sale,” Fairbairn said.
RM Auctions said the sale attracted bidders from 34 states as well as Europe, South America and the Middle East. Thirty-seven percent of bidders represented first time clientele.
RM Auctions said Dingman held the 2006 auction because he was in poor health.
His health returned and he resumed collecting but has since decided to sell off the collection to devote more time to other pursuits, the company said.