Another major auction record falls at RM Sotheby’s

Another major auction record falls at RM Sotheby’s

Records continued to fall at the collector car auctions Saturday on the Monterey Peninsula.

1939 Alfa Romeo 8C 2900B sets world record for auction price for prewar car | Larry Edsall photos

1939 Alfa Romeo 8C 2900B sets world record for auction price for prewar car | Larry Edsall photos

Records continued to fall at the collector car auctions Saturday on the Monterey Peninsula. Friday, RM Sotheby’s was the site of the highest prices ever paid for a British car and an American car sold at public auction. Saturday, an RM Sotheby’s bidder paid a record price for a prewar car when a 1939 Alfa Romeo 8C 2900B Lungo Spider sold for $19.8 million.

Observers from Hagerty, the insurance and vehicle valuation-tracking company, also reported what they called “another amazing result” as an alloy-bodied, long-wheelbase 1959 Ferrari 250 GT California Spider went for $18.5 million at Gooding & Company, which also got $13.5 million for a 1960 250 GT SWB Competizione Coupe in a post-block transaction.

However, the Hagerty report added, “A few of the big cars did miss (not selling despite strong bidding), including RM’s Cal Spider—this one a SWB car — at $9.4 million, RM’s Ferrari 268 SP race car at $12.5 million, and Gooding’s Porsche 550A roadster at $4.2 million.”

Dan Gurney's first Indy Eagle on the block Saturday at RM Sotheby's

Dan Gurney’s first Indy Eagle on the block Saturday at RM Sotheby’s

In a change from earlier in the week, “Prewar cars and cars from the 2010s saw rising sell-through rates versus the first two days,” Hagerty noted.

“At a model level, later Porsche 911s have sold low compared to their conditions, including 930s, 964s, and 993s. Early C through J series (1969-77) 911s, on the other hand, fared very well.

“C2 Corvettes recorded subpar prices, as have Mercedes-Benz 280SLs. Conversely, Ferrari Testarossas, Advanced Design Chevy pickups from 1947-55, and Maserati 3500GTs all realized strong prices relative to their conditions.”

While sales ended Saturday at RM Sotheby’s, Mecum Auctions and at Russo and Steele, Gooding continues its auction with a final day Sunday with a docket that includes a 1962 Ferrari 250 GT SWB, a 1933 Alfa Romeo 8C 2300 Monza, and a 1932 Bugatti Type 55 Roadster, among others.

In addition to the Hagerty report on the public auctions, Rick Cole Auctions reported early Sunday morning the sale of a 1957 “airbag” Chevrolet Corvette for $803,000 at its auction, which is being conducted by bidding by smartphone.

(All prices reported by Hagerty include buyer’s fees.)

Overall results from auction companies through Saturday

Cumulative total: $288.0 million
644/1,221 lots sold: 53 percent sell-through rate
Average sale price: $447,332
Median sale price: $88,000

2015 Cumulative results through Saturday
Cumulative total: $332.9 million
755/1,326 lots sold: 56 percent sell-through rate
Average sale price: $440,906
Median sale price: $89,100

Overall Top 10 sales from all auctions through Saturday

1. 1955 Jaguar D-Type Roadster (RM Sotheby’s) sold for $21,780,000
2. 1939 Alfa Romeo 8C 2900B Lungo Spider (RM Sotheby’s) sold for $19,800,000
3. 1959 Ferrari 250 GT California LWB Alloy Spider (Gooding & Company) sold for $18,150,000
4. 1962 Shelby Cobra 260 Roadster (RM Sotheby’s) sold for $13,750,000
5. 1960 Ferrari 250 GT SWB Competizione Coupe (Gooding & Company) sold for $13,500,000
6. 1956 Ferrari 250 GT TdF Coupe (RM Sotheby’s) sold for $5,720,000
7. 1950 Ferrari 166 MM Berlinetta (Gooding & Company) sold for $5,445,000
8. 1955 Ferrari 750 Monza Spider (RM Sotheby’s) sold for $5,225,000
9. 2014 Ferrari LaFerrari Coupe (Mecum Auctions) sold for $5,170,000
10. 1979 Porsche 935 Coupe (Gooding & Company) sold for $4,840,000

Results by auction company

Bonhams

Friday total: $34.1 million
99/115 lots sold: 86 percent sell-through rate
Average sale price: $344,526
Median sale price: $121,000

Top 10 Sales:
1. 1931 Bugatti Type 51 Grand Prix Roadster sold for $4,000,000
2. 2014 Ferrari LaFerrari Coupe sold for $3,685,000
3. 1904 Mercedes-Simplex 28-32HP Rear Entrance Tonneau sold for $2,805000
4. 1985 Ferrari 288 GTO Coupe sold for $2,112,000
5. 2014 McLaren P1 Coupe sold for $2,090,000
6. 1955 Lancia Aurelia B24 Spider America sold for $1,402,500
7. 1930 Duesenberg Model J Murphy Town Car sold for $1,254,000
8. 1989 Ferrari F40 Coupe sold for $1,155,000
9. 1956 Porsche 356A Carrera GS Speedster sold for $891,000
10. 1965 Shelby Cobra 289 R&P Roadster sold for $880,000

2015 Cumulative results
Total: $45.7 million
96/109 lots sold: 88 percent
Average sale price: $476,048
Median sale price: $198,000

Gooding & Company

Saturday total: $76.8 million
70/80 lots sold: 88 percent sell-through rate
Average sale price: $1,096,664
Median sale price: $330,000

Top 10 Saturday sales:
1. 1959 Ferrari 250 GT California LWB Alloy Spider sold for $18,150,000
2. 1960 Ferrari 250 GT SWB Competizione Coupe sold for $13,500,000
3. 1950 Ferrari 166 MM Berlinetta sold for $5,445,000
4. 1979 Porsche 935 Coupe sold for $4,840,000
5. 1967 Ferrari 275 GTB/4 Coupe sold for $3,245,000
6. 1971 Lamborghini Miura P400 SV Coupe sold for $2,255,000
7. 1930 Packard Speedster-Series 734 Roadster sold for $2,090,000
8. 1955 Lancia Aurelia B24 Spider America sold for $2,007,500
9. 1961 Maserati 5000GT Allemano Coupe sold for $1,677,500
10. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,430,000

2015 results through Saturday
Total: $69.5 million
63/69 lots sold: 91 percent sell through rate
Average sale price: $1,103,056
Median sale price: $462,000

Mecum

Saturday total: $33.6 million
84/199 lots sold: 42 percent sell-through rate
Average sale price: $399,542
Median sale price: $121,000

Top 10 Saturday sales:
1. 2014 Ferrari LaFerrari Coupe sold for $5,170,000
2. 1966 Ford GT40 Mk I Road Coupe sold for $4,840,000
3. 1985 Ferrari 288 GTO Coupe sold for $3,300,000
4. 2014 McLaren P1 Coupe sold for $2,035,000
5. 2005 Porsche Carrera GT Coupe sold for $1,155,000
6. 2011 Ferrari 599 SA Aperta Spider sold for $1,155,000
7. 2006 Bugatti Veyron 16.4 Coupe sold for $1,100,000
8. 1965 Shelby Cobra 289 R&P Roadster sold for $1,045,000
9. 1968 Lamborghini Miura P400 Coupe sold for $869,000
10. 2011 Ferrari 599 GTO Coupe sold for $748,000

Cumulative total: $45.8 million
294/698 lots sold: 42 percent sell-through rate
Average sale price: $155,693
Median sale price: $51,975

Overall Top 10 sales:
1. 2014 Ferrari LaFerrari Coupe sold for $5,170,000
2. 1966 Ford GT40 Mk I Road Coupe sold for $4,840,000
3. 1985 Ferrari 288 GTO Coupe sold for $3,300,000
4. 2014 McLaren P1 Coupe sold for $2,035,000
5. 2005 Porsche Carrera GT Coupe sold for $1,155,000
6. 2011 Ferrari 599 SA Aperta Spider sold for $1,155,000
7. 2006 Bugatti Veyron 16.4 Coupe sold for $1,100,000
8. 1965 Shelby Cobra 289 R&P Roadster sold for $1,045,000
9. 1968 Lamborghini Miura P400 Coupe sold for $869,000
10. 2011 Ferrari 599 GTO Coupe sold for $748,000

2015 Cumulative results
Total: $41.2 million
335/657 lots sold: 51 percent sell-through rate
Average sale price: $122,941
Median sale price: $49,500

RM Sotheby’s

Saturday total: $57.9 million
43/48 lots sold: 90 percent sell through rate
Average sale price: $1,345,523
Median sale price: $682,000

Top 10 Saturday sales:
1. 1939 Alfa Romeo 8C 2900B Lungo Spider sold for $19,800,000
2. 1956 Ferrari 250 GT TdF Coupe sold for $5,720,000
3. 1964 Ferrari 500 Superfast SI Coupe sold for $2,750,000
4. 1973 Ferrari 365 GTS/4 Daytona Spider sold for $2,475,000
5. 1957 BMW 507 Roadster sold for $2,145,000
6. 1963 Ferrari 250 GT Lusso Coupe sold for $2,090,000
7. 1934 Mercedes-Benz 500K Cabriolet A sold for $1,870,000
8. 1930 Cadillac Series 452 Fleetwood Roadster sold for $1,457,500
9. 2005 Maserati MC12 Coupe sold for $1,430,000
10. 1931 Duesenberg Model J Tourster sold for $1,320,000
10. 1957 Mercedes-Benz 300SL Roadster sold for $1,320,000
10. 1939 Bentley 4 1/4-Litre Sports Coupe sold for $1,320,000

Cumulative total: $123.1 million
85/100 lots sold: 85 percent sell-through rate
Average sale price: $1,448,565
Median sale price: $572,000

Overall Top 10 sales:
1. 1955 Jaguar D-Type Roadster sold for $21,780,000
2. 1939 Alfa Romeo 8C 2900B Lungo Spider sold for $19,800,000
3. 1962 Shelby Cobra 260 Roadster sold for $13,750,000
4. 1956 Ferrari 250 GT TdF Coupe sold for $5,720,000
5. 1955 Ferrari 750 Monza Spider sold for $5,225,000
6. 1966 Ford GT40 Mk I Road Coupe sold for $2,900,000
7. 1964 Ferrari 500 Superfast SI Coupe sold for $2,750,000
8. 1973 Ferrari 365 GTS/4 Daytona Spider sold for $2,475,000
9. 1957 BMW 507 Roadster sold for $2,145,000
10. 1963 Ferrari 250 GT Lusso Coupe sold for $2,090,000

2015 Cumulative results
Total: $167.2 million
126/149 lots sold: 85 percent sell-through rate
Average sale price: $1,328,401
Median sale price: $420,750

Russo and Steele
Saturday total: $5.8 million
30/80 lots sold: 38 percent sell-through rate
Average sale price: $192,133
Median sale price: $121,000

Top 10 Saturday sales:
1. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,155,000
2. 2004 Ford GT Pre-Production Prototype Coupe sold for $836,000
3. 2014 Mercedes-Benz SLS AMG Black Series Coupe sold for $418,000
4. 1970 Ferrari 365 GT Coupe 2+2 sold for $346,500
5. 1988 Lamborghini Countach LP5000 Quattrovalvole Coupe sold for $321,750
6. 2000 Ferrari 550 Maranello Coupe sold for $194,700
7. 1955 Facel Vega FV1 Coupe sold for $181,500
8. 1967 Jaguar E-Type SI 4.2 Roadster sold for $176,000
9. 1970 Chevrolet Corvette 350/370 Convertible sold for $159,500
10. 1967 Shelby GT500 Fastback sold for $155,100

Cumulative Total: $8.3 million
96/228 lots sold: 42 percent sell-through rate
Average sale price: $86,514
Median sale price: $45,375

Overall Top 10 sales:
1. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,155,000
2. 2004 Ford GT Pre-Production Prototype Coupe sold for $836,000
3. 2014 Mercedes-Benz SLS AMG Black Series Coupe sold for $418,000
4. 1970 Ferrari 365 GT Coupe 2+2 sold for $346,500
5. 1988 Lamborghini Countach LP5000 Quattrovalvole Coupe sold for $321,750
6. 2000 Ferrari 550 Maranello Coupe sold for $194,700
7. 1955 Facel Vega FV1 Coupe sold for $181,500
8. 1967 Jaguar E-Type SI 4.2 Roadster sold for $176,000
9. 1970 Chevrolet Corvette 350/370 Convertible sold for $159,500
10. 1967 Shelby GT500 Fastback sold for $155,100

2015 Cumulative results
Total: $8.5 million
112/209 lots sold: 54 percent sell-through rate
Average sale price: $75,920
Median sale price: $38,500

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