27 May 2015

Auction Recap: RM Sotheby's Villa Erba 2015

RM Sotheby’s concluded its Villa Erba sale on the shores of Lake Como in Italy on May 23, achieving $29,920,273 in total sales despite the only 39 lots offered, of which 34 of the 39 sold. This is still down from the $35.5 million realized the last time this sale was held in 2013 — in part due to a weaker euro at the moment and about 10 fewer lots offered — but it can still be considered a very strong and successful sale.

This being an Italian auction, it was dominated by Italian cars, and Ferraris in particular with an example of each of the company’s classic halo cars (288 GTO, F40, F50 and Enzo) found in the top 10. Very interestingly, the 288 GTO showed just how big the 1980s market is getting and how fast this model is appreciating by achieving over $2 million compared to just over $1 million for its successors, the F40 and F50.

The 1952 Ferrari 212 Export Barchetta with an impressive early racing history took top price of the entire sale at more than $7.3 million (a world record price for the model), while a 1963 Lusso finished in the unusual but gorgeous color of Pino Verde (metallic green) took second highest at almost $2.2 million. Other interesting Italian lots in the top 10 included a stunning one-off Fiat 8V Cabriolet with body by Vignale at $1.2 million and a low-mileage Lamborghini Miura P400 S at $1.1 million. In fact, the only car in the top 10 that wasn’t Italian was a genuine 1973 Porsche 911 Carrera RS 2.7 Sport Lightweight, one of 200 made, at just under $1.1 million.

This sale was all about high-dollar cars and there weren’t any “deals” so to speak, as shown by the very cheapest car of the auction, a 1964 Jaguar E-Type Series 1 3.8 Roadster for $133,993. It’s a low number for this model, but overall this sale achieved strong prices. Some of the other notable lots included a 1968 DeTomaso Mangusta for $255,800, a 1974 Lancia Stratos HF for $468,977, a 1984 Ferrari 512 BBi for $353,255 and a 1958 Mercedes-Benz 300SL Roadster for $1,035,404. 

Top 10:

  1. 1952 Ferrari 212 Export Barchetta sold for $7,323,926
  2. 1963 Ferrari 250 GT Lusso sold for $2,197,177
  3. 1985 Ferrari 288 GTO sold for $2,075,112
  4. 1960 Ferrari 250 GT Cabriolet Series II sold for 1,708,916
  5. 2002 Ferrari Enzo sold for $1,373,236
  6. 1996 Ferrari F50 sold for 1,342,719
  7. 1953 Fiat 8V Cabriolet sold for $1,220,654
  8. 1971 Lamborghini Miura P400 S sold for $1,110,795
  9. 1991 Ferrari F40 sold for $1,098,588
  10. 1973 Porsche 911 Carrera RS 2.7 Sport Lightweight sold for $1,098,588

RM Sotheby’s next collector car auction will be the Motor City sale in St. Johns, Michigan on July 25, 2015.

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