RM Sotheby’s inaugural auction in Dubai featuring rare cars and watches surpassed $17 million (Dh62 million), reported Khaleej Times on Thursday.

Up for auction were several rare supercars as well as a Rolex Daytona with the signature of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

The top sale comprised of a 2016 Koenigsegg Agera RSR that was sold for $3.38 million.

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The second-highest bid was achieved by a 2009 Mercedes-Benz SLR McLaren Stirling Moss, selling for $3.211 million (Dh11.784 million) – a world-record auction price for the model.

“We have been working hard over the past few years to grow our presence in the region and are enthused with the interest generated in our inaugural sale as well as the excellent results,” Peter Wallman, chairman of RM Sotheby’s UK and EMEA, was quoted as saying by Khaleej Times.

“It underlines the passion for collector cars in the region and the growing appeal of acquiring cars in a live auction environment supported by the growing number of related events.”

This second-highest bid was achieved by a 2023 Aston Martin Valkyrie Coupé that sold for $3.07 million.

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Dubai has fast become a top destination for collectors of arts, supercars, watches and other luxury items. Hence, many auction houses are choosing the glitzy emirate to sell their rarest items in order to attract top bid, added the report.

Other items includes a 2017 Lamborghini Centenario LP770-4 Coupé that went for $2.142 million and a 2022 Ferrari 812 Competizione – one of just 999 ever produced – that was snapped up for $1.467 million.

The Rolex Daytona UAE sold for a $300,000 (Dh1.1 million). Made around 1978, it featured the UAE coat of arms and the Arabic signature of Sheikh Mohammed bin Rashid Al Maktoum.