Top of the market showing strength at Amelia Island auctions

Million-dollar bidders are spending, and at prices above expectations, Hagerty reports

bonhams
The Bugatti Type 55 roadster is a rare supercharged example, and sold for $7.1 million on Amelia Island | Bonhams photo

Friday was the first — and only — day of multiple auctions and thus likely the peak of 2020 Amelia Island collector car auction activity. Bonhams conducted its sale on Thursday, Gooding & Company concluded its one-day auction on Friday afternoon. RM Sotheby’s began its two-day event Friday evening. 

Although the flurry of car events in Amelia Island are going on as normal, concerns about stock-market swings and the coronavirus were evident in both affordable and premium lots at the auctions, Hagerty Media reported in its daily update. 

For example, the number of more affordable, sub-$50k cars that sold above their Hagerty Price Guide values dropped 17 percentage points year over year. However, at the top of the market, and belying a disdain (or disregard) for economic fears, 57 percent of million-dollar lotssold above Hagerty Price Guide values, more than double last year. 

The million-dollar car market looks to still command top prices even in times of uncertainty, whereas buyers for the more affordable end weren’t driving prices up like they did last year. 

Total sales through Friday were $55.8 million, slightly less than the $56.7 million a year ago. However, year-ago numbers included sales at Russo and Steele, which is not staging an Amelia Island auction this year.

Listed below are raw results witnessed to date by Hagerty during the live auctions and may not include post-block sales.

Overall through Friday from all auction companies

Cumulative total: $55.8 million

226/266 lots sold: 85 percent sell-through rate

Average sale price: $246,817

2019 cumulative total through Friday: $56.7 million

254/370 lots sold: 68 percent sell-through rate

Average sale price: $223,129

(2019 figures include Russo and Steele, which is not at Amelia in 2020)

Overall top 10 sales through Friday

  1. 1932 Bugatti Type 55 Super Sport Roadster sold for $7,100,000 (Bonhams)
  2. 1907 Renault Type AI 35/45hp racer sold for $3,332,500 (Bonhams)
  3. 2003 Ferrari Enzo coupe sold for $2,782,500 (RM Sotheby’s)
  4. 1914 Rolls-Royce Silver Ghost 40/50 hp Phaeton sold for $2,205,000 (Gooding & Company)
  5. 1967 Ferrari 330 GTS Spider sold for $1,475,000 (Bonhams)
  6. 1969 Lamborghini Miura P400 S coupe sold for $1,435,000 (Gooding & Company)
  7. 1976 Porsche 934 race car sold for $1,380,000 (Gooding & Company)
  8. 1987 Porsche 959 Komfort coupe sold for $1,050,000 (RM Sotheby’s)
  9. 1958 Mercedes-Benz 300SL roadster sold for $1,028,000 (Bonhams)
  10. 1957 Mercedes-Benz 300SL roadster sold for $995,000 (Gooding & Company)
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Results by auction company

BONHAMS

2020 sales: $21.2 million

88/116 lots sold: 76 percent sell-through rate

Average Sale Price: $240,536

Top-10 sales:

  1. 1932 Bugatti Type 55 Super Sport roadster sold for $7,100,000
  2. 1907 Renault Type AI 35/45hp racer sold for $3,332,500
  3. 1967 Ferrari 330 GTS Spider sold for $1,475,000
  4. 1958 Mercedes-Benz 300SL roadster sold for $1,028,000
  5. 1931 Invicta 4 1/2-Litre Vanden Plas Sports Tourer sold for $852,000
  6. 1962 Aston Martin DB4 GT sedan sold for $725,500
  7. 1967 Meyers Manx Dune Buggy sold for $456,000
  8. 1934 Mercedes-Benz 500K Tourer sold for $362,500
  9. 1928 Bugatti Type 44 cabriolet sold for $335,000
  10. 1974 Ferrari Dino 246 GTS Spider sold for $268,800

2019 sales: $15.8 million

92/108 lots sold: 85 percent sell-through rate

Average sale price: $171,626

GOODING & COMPANY

2020 sales: $20.5 million

82/89 lots sold: 92 percent sell-through rate

Average sale price: $250,428

Top 10 sales:

  1. 1914 Rolls-Royce Silver Ghost 40/50 hp Phaeton sold for $2,205,000
  2. 1969 Lamborghini Miura P400 S Coupe sold for $1,435,000
  3. 1976 Porsche 934 Race Car sold for $1,380,000
  4. 1957 Mercedes-Benz 300SL Roadster sold for $995,000
  5. 2019 McLaren Senna coupe sold for $978,500
  6. 2017 Ford GT coupe sold for $967,500
  7. 2009 RUF CTR3 Coupe sold for $808,000
  8. 1972 Maserati Ghibli SS Spyder sold for $753,000
  9. 2016 Ferrari F12tdf Coupe sold for $731,000
  10. 1998 RUF Turbo R Coupe sold for $676,000
  11. 1998 RUF Turbo R Coupe sold for $676,000

2019 sales: $22.0 million

78/89 lots sold: 88 percent sell-through rate

Average sale price: $282,666

RM SOTHEBY’S

Total through Friday: $14.1 million

56/61 lots sold: 92 percent sell-through rate

Average sale price: $251,399

Top 10 sales (through Friday):

  1. 2003 Ferrari Enzo Coupe sold for $2,782,500
  2. 1987 Porsche 959 Komfort coupe sold for $1,050,000
  3. 2004 Porsche Carrera GT coupe sold for $786,000
  4. 2011 Ferrari 599 GTO coupe sold for $566,000
  5. 2006 Ford GT Heritage coupe sold for $533,000
  6. 2019 Porsche 911 GT2 RS Clubsport coupe sold for $527,500
  7. 1965 Shelby GT350 fastback sold for $401,000
  8. 1990 Mercedes-Benz 560SEC AMG coupe sold for $390,000
  9. 2000 Aston Martin V8 Vantage coupe sold for $379,000
  10. 1958 Aston Martin DB Mk III saloon sold for $357,000

2019 sales through Friday: $15.1 million

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

Average sale price: $302,952

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