In its recent news release celebrating strong overall sales for 2021, RM Sotheby’s also revealed its new management team to replace those who left the collector car auction company during 2021.
RM Sotheby’s total sales during the calendar year exceeded $550 million, the company reported, which includes $406.5 million in results from its 13 live and 12 online auctions, and $150 million in private sales, which the company described as a significant increase.
Of its new team of executives, the auction company said, “RM Sotheby’s is excited to work with some innovative new talent to bring creative and dynamic ideas that will help keep us current and innovative in the ever-changing car market.”
Heading the team is collector car veteran Gord Duff as Global Head of Auctions; Bryon Madsen, bringing his extensive expertise in specialized finance, tax, forecasting, and corporate structure to serve as Chief Strategy Officer; and Stephanie Jackson, appointed Head of Business Operations after 18 years with RM Sotheby’s, and who will work alongside Duff to manage business operations.
In Europe, Jack Little has taken on the senior position of Private Sales and Market Development, Mark Donaldson has become director of Private Sales for Europe and the Middle East, and Michael Squire returns to RM Sotheby’s for his new role as Director of Research/Car Specialist.
Duccio Lopresto, a well-known concours judge, joins the team as Director of Business Development, Europe, and Peter Haynes, who was part of the team that launched RM auctions in Europe in 2007, becomes Director of Public Relations and Marketing, Europe.
The changes in management come after a significant number of key staffers resigned from the auction company in recent months, including Kenneth Ahn, who left after five years as RM Sotheby’s Group president; Alain Squindo, who was chief operating officer; Ian Kelleher, who was chief marketing officer; Donnie Gould, car specialist; Barney Ruprecht, car specialist; Alexander Weaver, car specialist; Maddie Baker, director of client services; and Mike Mortorano, chief administrative officer and general counsel.
Those former RM Sotheby’s leaders recently announced formation of their own auction company, named Broad Arrow Group, with Ahn heading the organization as chief executive. To be based in Ann Arbor, Michigan, Broad Arrow has yet to announce its first collector car auction but says it will present auctions as well as private sales, and offer financial services.
RM Sotheby’s opened 2021 with a strong performance in Arizona, which returned the company to live auctions after pandemic work arounds. The Phoenix auction resulted in sales of $35 million and a 90 percent sell through.
The highlight of the year was the company’s flagship auction in Monterey, California, which also had a 90 percent sales rate and a record-setting $148,528,300 in total sales. It also was the setting for the world’s highest collector car auction sale of 2021, that of a 1962 Aston Martin DB4GT Zagato, which reached $9.52 million including auction fee.
RM Sotheby’s next collector car auction is scheduled for January 27 at the Arizona Biltmore Resort in Phoenix during Arizona Auction Week. For information, visit the auction website.