12 March 2016

Amelia Island 2016 Auction Results: Ferrari Cal Spider, Seinfeld Porsche lead Friday sales

The Amelia Island auctions continued on Friday with another strong day of overall results. Spring-boarding off of Bonhams' momentum, Gooding & Company successfully sold 17 of Jerry Seinfeld's 18 consigned lots to the tune of $22.2M. As if that wasn't enough, the company topped off the afternoon by selling a hotly contested 1961 Ferrari 250 GT California SWB Spider with desirable closed headlights for $17.16M. At the end of the day, the company exceeded its 2012 high-water mark for this venue by an impressive $22M.

Hollywood Wheels hosted the second auction of the day. Relative newcomers to the auction scene, its all-Porsche event saw sales slow significantly from last year, though a burst of after-sale activity is expected to lift totals much higher.
 
Seinfeld Porsches and Cal Spiders aside, not all sales were strong. A restored 1977 Toyota FJ40 at Gooding fell below expectations to trade at $63,800, and a 1989 Porsche 930 coupe sold at $129,250. Both sales continue a trend of levelling prices for those models. Looking at the combined results of Bonhams and Gooding, cars in the $250,000-$1,000,000 range have seen the lowest sell-through rates of any price bracket, and prewar cars have been slower to sell than other segments. 

Listed below are the raw results witnessed by Hagerty during the live auctions and may not factor in any post-sale deals that have occurred. These numbers do include the appropriate buyer’s premiums.

Overall from all auction companies

Cumulative Total: $88.0M
148/219 lots sold: 68% sell-through rate
Average Sale Price: $594,262

2015 Overall Cumulative Results Through Friday for comparison

Cumulative Total: $48.5M
183/212 lots sold: 86% sell-through rate
Average Sale Price: $264,809

Overall Top 10 Sales from all auctions through Friday:

1. 1961 Ferrari 250 GT California SWB Spider (closed headlight) sold for $17,160,000 (Gooding & Company)
2. 1937 Bugatti Type 57SC Sports Tourer sold for $9,735,000 (Bonhams)
3. 1955 Porsche 550 Spyder Roadster sold for $5,335,000 (Gooding & Company)
4. 1966 Ford GT40 Mk I Road Coupe sold for $3,300,000 (Gooding & Company)
5. 1973 Porsche 917/30 Can-Am Spyder sold for $3,000,000 (Gooding & Company)
6. 1937 Mercedes-Benz 540K Cabriolet A sold for $2,970,000 (Bonhams)
7. 1959 Porsche 718 RSK Roadster sold for $2,860,000 (Gooding & Company)
8. 1967 Ferrari 275 GTB/4 Coupe sold for $2,750,000 (Bonhams)
9. 1931 Duesenberg Model J Murphy Convertible Coupe sold for $2,640,000 (Gooding & Company)
10. 1974 Porsche 911 Carrera 3.0 IROC RSR Coupe sold for $2,310,000 (Gooding & Company)

Results broken down by auction company

Gooding & Company

Overall Total: $58.8M
67/79 lots sold: 85% sell through rate
Average Sale Price: $878,166

Overall Top 10 Sales:
1. 1961 Ferrari 250 GT California SWB Spider (closed headlight) sold for $17,160,000
2. 1955 Porsche 550 Spyder Roadster sold for $5,335,000
3. 1966 Ford GT40 Mk I Road Coupe sold for $3,300,000
4. 1973 Porsche 917/30 Can-Am Spyder sold for $3,000,000
5. 1959 Porsche 718 RSK Roadster sold for $2,860,000
6. 1931 Duesenberg Model J Murphy Convertible Coupe sold for $2,640,000
7. 1974 Porsche 911 Carrera 3.0 IROC RSR Coupe sold for $2,310,000
8. 1995 Ferrari F50 Coupe sold for $2,310,000
9. 1963 Ferrari 250 GT Lusso Coupe sold for $1,875,000
10. 1990 Porsche 962C Coupe sold for $1,650,000

2015 Overall Results for comparison
Total: $27.0M
76/85 lots sold: 89%
Average Sale Price: $354,830

Hollywood Wheels

Cumulative Total through Friday: $1.8M
18/43 lots sold: 42% sell through rate
Average Sale Price: $100,680

Friday Top 10 Sales:
1. 1976 Porsche 935 Coupe sold for $297,000
2. 1989 Porsche 911 Carrera Speedster sold for $205,200
3. 1977 Porsche 911 Carrera Turbo Coupe sold for $189,000
4. 1967 Porsche 911 S Coupe sold for $170,100
5. 1989 Porsche 911 Turbo 930 Coupe sold for $143,100
6. 1978 Porsche 911 Carrera Turbo Coupe sold for $140,400
7. 1996 Porsche 911 Turbo Coupe sold for $129,600
8. 1971 Porsche 911 Carrera RS Replica Coupe sold for $89,640
9. 1986 Porsche 911 Turbo 930 Coupe sold for $86,400
10. 1964 Porsche 356C Coupe sold for $78,300

2015 Results Through Friday
Total: $7.7M
42/50 lots sold: 84%
Average Sale Price: $183,123

Bonhams

Overall Total: $27.3M
63/97 lots sold: 65% sell-through rate
Average Sale Price: $433,356

Overall Top 10 Sales:
1. 1937 Bugatti Type 57SC Sports Tourer sold for $9,735,000
2. 1937 Mercedes-Benz 540K Cabriolet A sold for $2,970,000
3. 1967 Ferrari 275 GTB/4 Coupe sold for $2,750,000
4. 1933 Maserati 8C 3000 Roadster sold for $1,001,000
5. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $902,000
6. 1960 Maserati 3500GT Vignale Spider sold for $880,000
6. 1935 Riley MPH Roadster sold for $880,000
8. 1910 Thomas Flyer Model K 6-70 Phaeton sold for $825,000
9. 1896 Armstrong Phaeton Gas-Electric Runabout sold for $462,000
10. 1939 Lagonda V12 Drop Head Coupe sold for $458,700

Overall 2015 Results for comparison

Total: $13.8M
65/83 lots sold: 78% sell-through rate
Average Sale Price: $212,334

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