Click above for high-res gallery of expensive cars that didn't sell at the RM auction

Across town from Barrett-Jackson at the Bitmore Resort, RM Auctions held its "Automobiles of Arizona" auction highlighted by several multi-million dollar cars including a one-of-five 1963 Chevrolet Corvette Grand Sport and a past Pebble Beach winner 1937 Bugatti 57SC Atalante Coupe (much like the one that was recently found in a barn). Unfortunately, neither car saw a bid that met the reserve price, perhaps an indication that current economic conditions are finally catching up with the high-end collector car market. The Grand Sport went unsold with a top bid of $5 million, and the Bugatti failed to meet its reserve with a high bid of $4.4 million. A 1958 Ferrari 250 GT Tour de France also went unsold with a top bid of $1.8 million. One notable car that did find a new owner was the 1954 Dodge Firearrow III Concept with the hammer falling at $800,000 before auction fees. There were plenty of other beautiful cars that did sell, and you can check out the full list at RM's web site.

Related Gallery2009 RM Auctions Automobiles of Arizona

Photos copyright ©2009 Drew Phillips / Weblogs, Inc.
Corvette Grand Sport photos courtesy Dan Vaughan, ConceptCarz.com