RM Sotheby’s adds $38.8 million to Amelia Island auction total

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1960 Chevrolet convertible on the block at RM Sotheby's
1932 Packard Twin-Six sells for $1.21 million at RM Sotheby’s | Andy Reid photos

Saturday it was RM Sotheby’s turn in the Amelia Island auction spotlight and the company posted $38.8 million in sales at an 88 percent sell-through rate, according to observation by Hagerty, the classic car insurance and value-tracking company that monitors auctions at major American venues.

However, only one of RM Sotheby’s offerings — a 1962 Ferrari 400 Superamerica LWB Aerodinamico coupe — was able to crack the overall top 10 Amelia Island sales list, which was dominated this weekend by Bonhams and by Gooding & Company.

“Some of the other headline cars (at RM Sotheby’s) didn’t fare as well, however,” Hagerty noted, “with the 1957 Ferrari 250 GT TdF and 1939 Mercedes-Benz 540K Spezial Cabriolet A falling short with bids in excess of $2 million.

On the other hand, “Bucking trends seen elsewhere this week, RM Sotheby’s earned aggressive prices for American pre-war cars. Several sold for well above their high estimates, with a 1932 Packard Twin-Six Series 905 Coupe Roadster selling for $1.21M and a 1931 Stutz DV-32 Convertible Victoria selling for $1.1M.”

1960 Chevrolet convertible on the block at RM Sotheby’s

Hagerty also noted that post-sales action was busy at the Hollywood Wheels and Motostalgia venues and that Gooding did a couple after-the-hammer sales, “most notable of which was a 1988 Porsche 959 Komfort that sold for $1.12 million.”

Hagerty’s reports are based on what is observed in the auction room and include buyer’s premiums.

Overall, Hagerty reports that 2016 sales observed on the island totaled $134 million, some $18.1 million more than at the same sales a year ago. The average sales price this year was $437,834, a more than $100,000 increase over the 2015 figure.

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Amelia Island collector car auctions 2016

Overall from all auction companies
Cumulative total: $134.0 million
306/468 lots sold: 65 percent sell-through rate
Average sale price: $437,834

2015 Overall Cumulative results
Cumulative total: $114.9 million
354/407 lots sold: 87 percent sell-through rate
Average sale price: $324,466

Overall Top 10 Sales from all auctions

1. 1961 Ferrari 250 GT California SWB Spider (closed headlight), $17,160,000 (Gooding & Company)
2. 1937 Bugatti Type 57 SC Sports Tourer, $9,735,000 (Bonhams)
3. 1955 Porsche 550 Spyder, $5,335,000 (Gooding & Company)
4. 1962 Ferrari 400 Superamerica Coupe, $4,400,000 (RM Sotheby’s)
5. 1966 Ford GT40 Mk I Coupe, $3,300,000 (Gooding & Company)
6. 1973 Porsche 917/30 Can-Am Spyder, $3,000,000 (Gooding & Company)
7. 1937 Mercedes-Benz 540K Cabriolet A, $2,970,000 (Bonhams)
8. 1959 Porsche 718 RSK Roadster, $2,860,000 (Gooding & Company)
9. 1967 Ferrari 275 GTB/4 Coupe, $2,750,000 (Bonhams)
10. 1931 Duesenberg Model J Murphy Convertible Coupe, $2,640,000 (Gooding & Company)

Results by auction company

RM Sotheby’s

Overall total: $38.8 million
82/93 lots sold: 88 percent sell-through rate
Average sale price: $473,201

Overall Top 10 Sales:
1. 1962 Ferrari 400 Superamerica Coupe, $4,400,000
2. 1984 Ferrari 288 GTO Coupe, $2,585,000
3. 1968 Ferrari 330 GTS Spider, $2,200,000
4. 2014 Pagani Huayra Coupe, $2,035,000
5. 1954 Bentley R-Type Continental 4.9L Fastback Sports Saloon, $1,815,000
6. 1955 Mercedes-Benz 300SL Gullwing Coupe, $1,265,000
7. 1932 Packard Twin Six-Series 905 Coupe Roadster, $1,210,000
8. 1963 Shelby Cobra 289 R&P Roadster, $1,155,000
9. 1931 Stutz DV-32 Convertible Victoria, $1,100,000
10. 1968 Chevrolet Camaro Sunoco Trans Am Sport Coupe, $990,000

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2015 overall results
Total: $60.1 million
99/101 lots sold: 98 percent sell-through rate
Average sale price: $607,293

Motostalgia

Overall total: $2.9 million
40/73 lots sold: 55 percent sell through rate
Average sale price: $72,676

Overall Top 10 Sales:
1. 2006 Mercedes-Benz SLR McLaren Coupe, $313,500
2. 1989 Porsche 911 Carrera Speedster, $203,500
3. 2005 Ferrari 575M Maranello Coupe, $165,000
4. 1996 Porsche 911 Turbo Coupe, $151,250
5. 1976 Porsche 911 Carrera Turbo Coupe, $137,500
6. 1987 Ferrari Testarossa Coupe,$129,250
7. 1988 Ferrari 328 GTS Spider, $108,900
8. 1933 Auburn 8-98 Standard Phaeton, $99,000
9. 2015 Land Rover Defender HUE-166 Utility Vehicle 4×4, $99,000
10. 1931 Auburn 8-98 Standard Speedster, $93,500

Hollywood Wheels

Cumulative total through Saturday: $4.4 milion
49/126 lots sold: 39 percent sell through rate
Average sale price: $90,582

Overall Top 10 Sales:
1. 1983 Ferrari 512 BBi Coupe, $334,800
2. 1976 Porsche 935 Custom Coupe, $297,000
3. 2003 BMW Z8 Alpina Roadster, $243,000
4. 1989 Porsche 911 Carrera Speedster, $205,200
5. 1977 Porsche 911 Carrera Turbo Coupe, $189,000
6. 1988 Ferrari Testarossa Coupe, $178,200
7. 1967 Porsche 911 S Coupe, $170,100
8. 1961 Chrysler 300G Convertible, $156,600
9. 1989 Ferrari Testarossa Coupe, $151,200
10. 1989 Porsche 911 Turbo 930 Coupe, $143,100

Saturday total: $2.6 million
31/83 lots sold: 37 percent sell through rate
Average sale price: $84,719

Saturday Top 10 Sales:
1. 1983 Ferrari 512 BBi Coupe, $334,800
2. 2003 BMW Z8 Alpina Roadster, $243,000
3. 1988 Ferrari Testarossa Coupe, $178,200
4. 1961 Chrysler 300G Convertible, $156,600
5. 1989 Ferrari Testarossa Coupe, $151,200
6. 1939 Cadillac Series 75 Fleetwood Convertible Coupe, $141,480
7. 1983 Ferrari 308 GTS Quattrovalvole Spider, $91,800
8. 2006 Ferrari 612 Scaglietti Coupe, $90,720
9. 1961 Chevrolet Corvette Convertible, $88,560
10. 1941 Chrysler Highlander Convertible Coupe, $86,400

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2015 overall results
Total: $14.0 million
114/138 lots sold: 83 percent
Average sale price: $123,630

Gooding & Company

Overall Total: $60.2 million
69/79 lots sold: 87 percent
Average sale price: $871,915

Overall Top 10 Sales:
1. 1961 Ferrari 250 GT California SWB Spider (closed headlight), $17,160,000
2. 1955 Porsche 550 Spyder, $5,335,000
3. 1966 Ford GT40 Mk I Road Coupe, $3,300,000
4. 1973 Porsche 917/30 Can-Am Spyder, $3,000,000
5. 1959 Porsche 718 RSK Roadster, $2,860,000
6. 1931 Duesenberg Model J Murphy Convertible Coupe, $2,640,000
7. 1974 Porsche 911 Carrera 3.0 IROC RSR Coupe, $2,310,000
8. 1995 Ferrari F50 Coupe, $2,310,000
9. 1963 Ferrari 250 GT Lusso Coupe, $1,875,000
10. 1990 Porsche 962C Coupe, $1,650,000

2015 overall results
Total: $27.0 million
76/85 lots sold: 89 percent
Average sale price: $354,830

Bonhams

Overall total: $27.7 million
66/97 lots sold: 68 percent sell-through rate
Average sale price: $419,014

Overall Top 10 Sales:
1. 1937 Bugatti Type 57SC Sports Tourer, $9,735,000
2. 1937 Mercedes-Benz 540K Cabriolet A, $2,970,000
3. 1967 Ferrari 275 GTB/4 Coupe, $2,750,000
4. 1933 Maserati 8C 3000 Roadster, $1,001,000
5. 1955 Mercedes-Benz 300SL Gullwing Coupe, $902,000
6. 1960 Maserati 3500GT Vignale Spider, $880,000
6. 1935 Riley MPH Roadster, $880,000
8. 1910 Thomas Flyer Model K 6-70 Phaeton, $825,000
9. 1896 Armstrong Phaeton Gas-Electric Runabout, $462,000
10. 1939 Lagonda V12 Drop Head Coupe, $458,700

Overall 2015 results
Total: $13.8 million
65/83 lots sold: 78 percent sell-through rate
Average sale price: $212,334

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A former daily newspaper sports editor, Larry Edsall spent a dozen years as an editor at AutoWeek magazine before making the transition to writing for the web and becoming the author of more than 15 automotive books. In addition to being founding editor at ClassicCars.com, Larry has written for The New York Times and The Detroit News and was an adjunct honors professor at the Walter Cronkite School of Journalism and Mass Communication at Arizona State University.