Porsches parade at Werks Reunion, Amelia auction blocks

Porsches parade at Werks Reunion, Amelia auction blocks

Friday has become Porsche day during Florida collector car festival

Editor’s note: The ClassicCars.com Journal is your source for Amelia Island news – from collector car auctions and shows to the Amelia Island Concours d’Elegance. Read more of our coverage on our dedicated page.

Friday has become Porsche day during the annual Amelia Island Concours d’Elegance weekend on Florida’s northeastern coast, where collector car auctions are part of the attraction. 

This year was no different, what with the Werks Reunion, a Porsche Club of America event at the Omni Amelia Island Plantation drawing a seemingly endless stream of 911s, and with Amelia’s proximity to so many Porsche racing victories at Daytona and Sebring, even the factory brings out historic as well as its latest models.

Auction action at Gooding & Company on Friday included the record-setting sale of a 1961 OSCA 1600 GT by Zagato (lower right) | Larry Printz photos

“The auction companies have identified a captive audience on Friday and tune their offerings accordingly,” notes the Hagerty Insider, which tracks each of the auctions and reports daily on the results during the major collector car events in Arizona, Amelia Island and later this summer on the Monterey Peninsula.

Friday, Gooding & Company staged its one-day Amelia Island auction and featured the Porsche collection of WhatsApp founder Jan Koum. The consignment included eight 911s, a 918 Spider and a Cayman GT4. And they were only part of a group of 33 Porsches — 32 cars and a tractor — on the Gooding & Company docket. More than one-third of that docket comprised Porsches.

Of those Gooding Porsches, 82 percent sold, for a total of $10,032,300, an average of $371,567 each (prices reported include buyer’s fee).

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Aside from the Porsches, Gooding also posted a big result from a relatively small car — a 1961 OSCA 1600 GT by Zagato brought a record price, $489,000.

2004 Porsche Carrera GT on the block at RM Sotheby’s | Andy Reid photo

RM Sotheby’s continued to do well with its Youngtimer collection, which included a pair of Porsches. A 1988 928 S4 driven barely more than 10,000 miles brought $67,200, 66 percent above its Hagerty Price Guide figure, and a 1995 928 GTS, one of only 77 built for North America, went for $89,600, 11 percent better than the price guide.

Other cars in the Youngtimer group for future classics also did well at RM Sotheby’s, including a record $53,200 for a 1996 Nissan 300ZX Twin Turbo with less than 2,800 miles on its odometer, $50,400 for a 1993 Mazda RX-7 twin turbo, and a record $176,300 for a 1994 Toyota Super twin-turbo targa driven only 11,200 miles since new. Yet another record fell when a 1994 BMW 850 CSi brought $184,800.

Russo and Steele concluded its first Amelia Island auction, with only 23 cars crossing the block, including a 1989 Porsche 911 Carrera Speedster that sold for $181,500.

RM Sotheby’s concludes its Amelia sale Saturday with a 1937 Bugatti Type t7SC Tourer by Corsica, valued at more than $6 million, and a 1965 Shelby 427 Competition Cobra (CSX 3006), another multi-million-dollar machine, leading the docket.

Amelia Island auctions 2018

2019 results through Friday

Total sales: $54.4 million

249/370 lots sold, 67 percent sell-through rate

Average sale price: $218,513

2018 results through Friday

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Total sales: $77.2 million

269/351 lots sold, 77 percent sell-through rate

Average sale price: $286,843

Overall top-10 sales

  1. 1930 Packard Speedster Series 734 boattail roadster, $1,765,000 (Gooding & Co.)
  2. 2015 McLaren P1 coupe, $1,490,000 (RM Sotheby’s)
  3. 2015 Porsche 918 Spyder Weissach roadster, $1,490,000 (Gooding & Co.)
  4. 1965 Ferrari 275 GTS Spider, $1,325,000 (Gooding & Co.)
  5. 1963 Ferrari 250 GT Lusso coupe, $1,225,000 (Gooding & Co.)
  6. 1930 Cadillac Series 452 Fleetwood roadster, $1,187,500 (Bonhams)
  7. 2015 Porsche 918 Spyder roadster, $1,187,500 (RM Sotheby’s)
  8. 1993 Porsche 911 Carrera RS 3.8 coupe, $1,132,500 (Gooding & Co.)
  9. 1968 Repco Brabham-Cosworth BT26 BT26A, $1,105,000 (Bonhams)
  10. 1987 Porsche 962C Kremer race car, $1,022,500 (Gooding & Co.)

Results by auction company

Bonhams

2019 results

Total sales: $15.4 million

89/108 lots sold, 82 percent sell-through rate

Average sale price: $173,468

  1. 1930 Cadillac Series 452 Fleetwood roadster, $1,187,500
  2.  1968 Repco Brabham-Cosworth BT26 BT26A, $1,105,000
  3. 1913 Mercer Type 35J Raceabout roadster, $898,000
  4. 1914 Simplex 50HP Speedcar roadster, $885,000
  5. 1904 Peerless Type 8 Style K JM Quinby Co. Runabout, $698,000
  6. 1998 Ruf 911 Turbo R coupe, $626,500
  7. 1904 Thomas Model 22 3-cylinder tonneau, $489,000
  8. 1929 Bentley 4 1/2-liter sport tourer Vanden Plas roadster, $472,500
  9. 1908 Welch Model 4-L 50HP touring, $456,000
  10. 1907 Tincher Model H 60HP touring, $423,000

2018 results

Total sales: $13.2 million

88/101 lots sold, 87 percent sell-through rate

Average sale price: $149,919

Gooding & Company

Totals sales: $21.4 million

75/89 lots sold, 85 percent sell-through rate

Average sale price: $281,801

  1. 1930 Packard Speedster Series 734 boattail roadster, $1,765,000
  2. 2015 Porsche 918 Spyder Weissach roadster, $1,490,000
  3. 1965 Ferrari 275 GTS Spider, $1,325,000
  4. 1963 Ferrari 250 GT Lusso coupe, $1,225,000
  5. 1993 Porsche 911 Carrera RS 3.8 coupe, $1,132,500
  6. 1987 Porsche 962C Kremer race car, $1,022,500
  7. 1964 Shelby Cobra 289 R&P roadster, $714,500
  8. 1984 Porsche 911 race car, $687,000
  9. 2004 Porsche Carrera GT coupe, $687,000
  10. 2011 Porsche 911 GTS RS 4.0 coupe, $582,500
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2018 results

Total sales: $35.8 million

82/96 lots sold, 95 percent sell-through rate

Average sale price: $436,515

RM Sotheby’s

Totals sales through Friday : $13.9 million

50/59 lots sold, 85 percent sell-through rate

Average sale price: $277,296

  1. 2015 McLaren P1 coupe, $1,490,000
  2. 2015 Porsche 918 Spyder roadster, $1,187,500
  3. 1992 Ferrari F40 coupe, $1,017,000
  4. 2017 Ferrari F12 tdf coupe, $967,500
  5. 2012 Lexus LFA Nurburgring coupe, $912,500
  6. 2004 Porsche Carrera GT coupe, $775,000
  7. 2009 Mercedes-Benz  SLR McLaren 722 S convertible, $648,500
  8. 2013 Lotus T125 race car, $417,500
  9. 2018 Porsche 911 GT2 RS Weissach coupe, $379,000
  10. 2008 Alfa Romeo 8C Competizione coupe, $324,000

2018 results (one-day sale)

Total sales: $27.6 million

89/108 lots sold, 82 percent sell-through rate

Average sale price: $173,468

Russo and Steele

Total sales: $3.37 million

34/114 lots sold, 30 percent sell-through rate

Average sale price: $108,515

  1. 1956 Mercedes-Benz 300SL Gullwing coupe, $990,000
  2. 1960 Ferrari 250 GT coupe, $665,500
  3. 1969 Ford Mustang Boss 429, $231,000
  4. 1989 Porsche 911 Carrera Speedster, $181,500
  5. 2001 BMW Z8 roadster, $140,250
  6. 2012 Ferrari 458 race car, $134,750
  7. 1997 Porsche 911 Andial coupe, $129,250
  8. 2017 Mercedes-Benz G550, $126,500
  9. 2014 Jaguar XKR-S GT coupe, $115,500
  10. 1965 Shelby Cobra 427 S/C roadster, $104,500

2018 results

None (new event for 2019)


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  • Dave F
    March 10, 2019, 2:53 PM

    I was a registered bidder at the inaugural Russo and Steele auction. I thought it would be a nice one to go to since it was the first for the company at that location. I am no auction expert, but I will offer my thoughts on why it had such a low sell through rate. The bidder pre-registration process was disorganized with poor communication. The VIP treatment for bidders was all but non existent. The peripheral vendor stands were lack luster. The auction house personnel did little to interact with bidders and make them feel welcome. I would divide the car lots into two categories, nice 6 figure value cars with apparent unrealistic reserves, then no reserve cars that were total dreck.

    The auction started on Thursday, which was maybe before the real money players had descended on Amelia Island. Very few cars were scheduled for Friday. When I arrived on Friday afternoon, they had simply lined up most of the unsold cars from the previous night to re-run across the block. That seemed weird. What happened then was almost embarrassingly laughable. Car after car crossed for the second time, with no one in the bidder section bidding. This was easy to monitor because maybe there were 30 of us still in attendance. The auctioneer would run the price up to an apparent proxy/shill bid which was basically where the car’s bidding had stalled the night prior.

    I hope they work the kinks out for future events, although I’m not sure a 30% sell rate will even make business sense for them to come back. I would offer the advice of improving the treatment of bidders, open bar, better food, better dynamic side vendors, and better lots. They need more quality sub 6 figure cars at no reserve to attract more bidders, since the hedge fund folks are at Gooding and RM/Sothebys.

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