It might be a new speed record: $62.8 million worth of cars sold in two hours.
The "Art of the Automobile" auction held by Sotheby's and RM Auctions surpassed its lofty estimate of $50 million Thursday, when it sold off 31 gleaming vintage cars, along with two motorcycles and seven pieces of artwork.
(Read more: Gold Lamborghini: Yours for $7.5 million)
The sale shows that, with markets at all-time highs, the wealthy continue to pour money into top collectibles—especially art and cars. The sale was also the first major collectible car auction in Manhattan in a decade.
The bidders came from 17 countries, showing that the collectible car market—like the art market—has become far more global in recent years.
(Read more: Ferrari craze helps auto auction shatter records)
"The sale has successfully brought many new collectors into the market for the first time, which is fantastic news for our hobby," said Rob Myers, CEO and founder of RM Auctions.