Weathering the storm: Amelia auctions total $121.3 million

Weathering the storm: Amelia auctions total $121.3 million

Thunder banged and rain poured Sunday on Amelia Island, Florida

1937 Bugatti Type 57S cabriolet tops all Amelia Island sales at $7.7 million | Bob Golfen photos

1937 Bugatti Type 57S cabriolet tops all Amelia Island sales at $7.7 million | Bob Golfen photos

Thunder banged and rain poured Sunday on Amelia Island, Florida. Good thing Bill Warner decided mid-week to move the concours d’elegance up to Saturday. But not necessarily a great thing for the collector car auctions taking place in and around that event. Not only was there confusion, but unexpected competition as the concours and accompanying cars and coffee car show competed for attention.

Overall, the average sales price at the auctions was off 13.4 percent compared with the same sales a year ago. Total sales also were off, by $18.7 million. On the other hand, the auction houses did $121.3 million in sales, an impressive figure considering that bidding on a 1957 Jaguar XKSS and a 1961 Ferrari 250 GT SWB — both eight-figure vehicles — fell short of the consignors’ reserve prices.

1929 Stutz Model M sells for $1.7 million

1929 Stutz Model M sells for $1.7 million Saturday at RM Sotheby’s

RM Sotheby’s had to enjoy the weekend despite the extra competition on Saturday. On Friday, it sold the Orin Smith collection for an impressive $31 million and Saturday it staged its regular sale, which generated $40.8 million, highlighted by the sale of a 1937 Bugatti Type 57S cabriolet for $7.7 million, the most paid for any vehicle at any of the Amelia Island auctions this weekend.

These preliminary auction results are reported by Hagerty, the insurance and vehicle-valuation tracking company that monitors all sales at the major auction venues. Hagerty’s figures do not include any post-block transactions but do include appropriate buyer’s fees.

Hagerty also reported that cars valued at less than $100,000 did very well at Amelia, selling on average for nearly 55 percent more than their condition-specific values, according to the Hagerty Price Guide. Also selling strongly, Hagerty said, were pre-war cars, with media prices nearly 20 percent better than at the same sales a year ago.

Bid hits $240,000 for 1974 Ferrari Dino

Bid hits $240,000 for 1974 Ferrari Dino

On the other hand, cars valued from $250,000 to $1 million and those at more than $3 million struggled to sell on the island. Some 60 percent of the $250K to $1 million vehicles sold for less than their price guide expectations. At the $3 million-plus level, Hagerty noted that “buyers demand exceptional provenance,” which they apparently found lacking in several of the most expensive offerings, for example, the Jaguar XKSS revealed not to still carry its original engine.

 

 

Totals from all auction companies

Cumulative total: $121.3 million
Average sale price: $332,345
67 percent sell-through rate (365/568)

2016 Results: $140 million
Average sale price: $420,551
71 percent sell-through rate (333/468)

Overall Top 10 sales:
1. 1937 Bugatti Type 57S Cabriolet (RM Sotheby’s), $7,700,000
2. 1998 Porsche 911 GT1 Strassenversion Coupe (Gooding & Company), $5,665,000
3. 1995 Ferrari F50 Coupe (RM Sotheby’s), $2,640,000
4. 2015 McLaren P1 Coupe (Gooding & Company), $2,392,500
5. 1956 Maserati A6G/54 Series II Coupe (RM Sotheby’s), $2,365,000
6. 1955 Ferrari 250 Europa Coupe (Bonhams), $2,227,500
7. 1936 Lancia Astura Series III Cabriolet (RM Sotheby’s), $2,145,000
8. 1964 Ferrari 275 GTB Coupe (RM Sotheby’s), $1,842,500
9. 1989 Mazda 767B Race Car (Gooding & Company), $1,750,000
10. 1929 Stutz Model M Coupe (RM Sotheby’s), $1,705,000

Results by auction company

Bonhams

Cumulative total: $10.0 million
Average sale price: $141,342
83 percent sell-through rate

Bonhams Top 10:
1. 1955 Ferrari 250 Europa Coupe, $2,227,500
2. 1911 Pierce-Arrow Model 48 Touring, $550,000
3. 1986 Lamborghini Countach LP5000 Quattrovalvole Coupe, $335,500
4. 1961 Jaguar E-Type SI 3.8 Flat Floor Roadster, $326,700
5. 1954 Arnolt Bristol Bolide Roadster, $324,500
6. 1904 Knox 16/18HP Touring, $292,600
7. 1951 Allard J2 Roadster, $275,000
8. 1989 Aston Martin V8 Volante Convertible, $247,500
9. 2011 Porsche 911 Carrera Speedster, $247,500
10. 1968 Lamborghini Islero 400 GT 2+2 Coupe, $247,500

2016 Bonhams total: $27.7 million
Average sale price: $419,014
68 percent sell through rate

Gooding & Company

Cumulative total: $30.8 million
Average sale price: $440,267
80 percent sell-through rate

Gooding and Company Top 10:
1. 1998 Porsche 911 GT1 Strassenversion Coupe, $5,665,000
2. 2015 McLaren P1 Coupe, $2,392,500
3. 1989 Mazda 767B Race Car, $1,750,000
4. 1993 Porsche 911 Turbo Coupe, $1,540,000
5. 1949 Aston Martin DB Mk II Coupe, $1,540,000
6. 1990 Ferrari F40 Coupe, $1,485,000
7. 1977 Porsche 934/5 Coupe, $1,375,000
8. 1955 Lancia Aurelia B24 Spider America, $1,300,000
9. 1965 Aston Martin DB5 Vantage Sedan, $1,100,000
10. 2011 Porsche 911 GT3 RS Coupe, $748,000

2016 Gooding and Company total: $60.2 million
Average sale price: $871,912
87 percent sell-through rate

Hollywood Wheels

Cumulative total $4.2 million
Average sale price: $112,875
28 percent sell-through rate

Hollywood Wheels Top 10:
1. 1991 Ferrari F40 Coupe, $1,188,000
2. 1953 Porsche 356 1500 Coupe, $302,400
3. 1970 Mercedes-Benz 280SE 3.5 Cabriolet, $205,200
4. 1959 Dodge Custom Royal Lancer Convertible, $189,000
5. 1989 Porsche 911 Carrera Speedster, $164,700
6. 1961 Porsche 356B (T5) Cabriolet, $143,100
7. 1977 Porsche 911 Carrera Turbo Coupe, $140,400
8. 1960 Porsche 356B (T5) Cabriolet, $118,800
9. 1986 Porsche 911 Carrera Cabriolet, $94,500
10. 1987 Porsche 911 Carrera Targa, $94,500

2016 Hollywood Wheels total: $8.5 million
Average sale price: $113,900
60 percent sell-through rate

Motostalgia

Cumulative total: $4.5 million
Average sale price: $89,109
54 percent sell-through rate

Motostalgia Top 10:
1. 1950 Cisitalia Abarth 204A Monoposto, $1,001,000
2. 1967 Aston Martin DB6 Mk I Sedan, $513,000
3. 1964 Ferrari 330 GT SI Coupe 2+2, $319,000
4. 2011 Mercedes-Benz SLS AMG Coupe, $225,500
5. 1968 Ferrari 365 GT Coupe 2+2, $192,500
6. 2012 McLaren MP4-12C Coupe, $133,100
7. 1968 Porsche 911 L Targa, $112,200
8. 1938 Auto Union Wanderer W25K Roadster, $104,500
9. 1931 Stutz Series MA SV16 Convertible, $104,500
10. 1971 Mercedes-Benz 280SL Convertible, $97,900

2016 Motostalgia total: $5.1 million
Average sale price: $124,427
56 percent sell-through rate

RM Sotheby’s

Cumulative total: $71.8 million
Average sale price: $524,234
91 percent sell-through rate

RM Sotheby’s Top 10:
1. 1937 Bugatti Type 57S Cabriolet, $7,700,000
2. 1995 Ferrari F50 Coupe, $2,640,000
3. 1956 Maserati A6G/54 Series II Coupe, $2,365,000
4. 1936 Lancia Astura Series III Cabriolet, $2,145,000
5. 1964 Ferrari 275 GTB Coupe, $1,842,500
6. 1929 Stutz Model M Coupe, $1,705,000
7. 1966 Aston Martin DB5 SWB Vantage Volante Convertible, $1,705,000
8. 1956 Bentley S1 Continental Coachbuilt Drop Head Coupe, $1,683,000
9. 2012 Bugatti Veyron 16.4 Grand Sport Convertible, $1,650,000
10. 1953 Fiat 8V Ghia Supersonic Coupe, $1,375,000

2016 RM Sotheby’s total: $38.6 million
Average sale price: $470,518
88 percent sell-through rate

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