19 August 2014

Auction Recap: Bonhams’ 2014 Quail Lodge sale

Bonhams made a splash this year when it announced it would be bringing a Ferrari GTO to public auction for the first time since 2000, and the British auction house didn't disappoint in either presentation or results. Overall, Bonhams sold 104 of 117 automotive lots for $106.5M, versus sales of $31.1M from 77 cars sold in 2013. Both the average and median sale prices rose dramatically (by 156% and 30%, respectively).

The big story for the week was the incredible Maranello Rosso Collection of 10 Ferraris offered on Thursday. They were presented to an exuberant and standing-room-only crowd, and within an hour they had tallied $66M. The GTO set the record for most expensive car ever sold at public auction with a price of $38.115M, besting the previous record by more than $8M. A closed headlight 250 Cab sold for a relative bargain of $6.82M, while a Dino 206 GT scored a particularly aggressive $572,000.

The energy and excitement carried over to Friday as well, with a boisterous group of bidders waving their paddles. A lovely and low-mile restored 1966 Ferrari 275 GTB brought $3.85M and another low-mile 1983 Ferrari 365 GTS/4 Daytona Spyder sold for a big $2.64M. Most surprisingly, a rare 1962 Austin Mini beach car made an $88,000 Fiat Jolly look restrained, as it sold for $181,500.

Bonhams has been building momentum in the U.S. over the past two years, and this sale — its first motorcar event in any continent to top $100M — secured its position as a front-runner in the American auction scene. This sale should act as a springboard moving through the fall sales season and into Scottsdale.

Top 10 Sales:

  1. 1962 Ferrari 250 GTO Coupe sold for $38,115,000
  2. 1953 Ferrari 250 MM Coupe sold for $7,260,000
  3. 1962 Ferrari 250 GT SWB Speciale Aerodinamica Coupe sold for $6,875,000
  4. 1958 Ferrari 250 SI Cabriolet (closed headlight) sold for $6,820,000
  5. 1966 Ferrari 275 GTB Coupe sold for $3,850,000
  6. 1973 Ferrari 365 GTS/4 Daytona Spyder sold for $2,640,000
  7. 1978 Ferrari 312 T3 Formula 1 sold for $2,310,000
  8. 1993 Ferrari F40 LM Coupe sold for $2,200,000
  9. 1963 Mercedes-Benz 300SL Roadster sold for $1,897,500
  10. 1948 Talbot-Lago Record T26 Grand Sport Coupe sold for $1,485,000

Bonhams’ next automotive auction is Sept. 6, 2014, At the British Beaulieu Autojumble. Its next North American sale will be held Oct. 6, 2014, in Philadelphia, Penn.

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