13 March 2016

Amelia Island 2016 auction Recap

Day three of the Amelia Island Classic Car Auctions included RM Sotheby's turn during the final day of auctions. The company did exceptionally well with its 1962 Ferrari 400 Superamerica LWB Aerodinamico Coupe, which sold well above estimate at $4.4M with premium. Some of the other headline cars didn't fare as well, however, with the 1957 Ferrari 250 GT TdF and 1939 Mercedes-Benz 540K Spezial Cabriolet A falling short with bids in excess of $2M.

Bucking trends seen elsewhere this week, RM Sotheby's earned aggressive prices for American prewar cars. Several sold for well above their high estimates, with a 1932 Packard Twin-Six Series 905 Coupe Roadster selling for $1.21M and a 1931 Stutz DV-32 Convertible Victoria selling for $1.1M.

Hollywood Wheels and Motostalgia conducted evening sales as well, with preliminary figures coming in much lower than what the inevitable after-sales will elevate totals to. Gooding & Company added two sales post-block on Saturday, most notable of which was a 1988 Porsche 959 Komfort that sold for $1.12M.

The three big auctions will likely report their official results by the end of the weekend, at which point the larger conclusions can be definitively drawn.

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 include the appropriate buyer’s premiums.

Overall from all auction companies
Cumulative Total: $134.0M
306/468 lots sold: 65% sell-through rate
Average Sale Price: $437,834

2015 Overall Cumulative Results
Cumulative Total: $114.9M
354/407 lots sold: 87% sell-through rate
Average Sale Price: $324,466

Overall Top 10 Sales from all auctions:

  1. 1961 Ferrari 250 GT California SWB Spider (closed headlight) sold for $17,160,000 (Gooding & Company)
  2. 1937 Bugatti Type 57 SC Sports Tourer sold for $9,735,000 (Bonhams)
  3. 1955 Porsche 550 Spyder sold for $5,335,000 (Gooding & Company)
  4. 1962 Ferrari 400 Superamerica Coupe sold for $4,400,000 (RM Sotheby’s)
  5. 1966 Ford GT40 Mk I Coupe sold for $3,300,000 (Gooding & Company)
  6. 1973 Porsche 917/30 Can-Am Spyder sold for $3,000,000 (Gooding & Company)
  7. 1937 Mercedes-Benz 540K Cabriolet A sold for $2,970,000 (Bonhams)
  8. 1959 Porsche 718 RSK Roadster sold for $2,860,000 (Gooding & Company)
  9. 1967 Ferrari 275 GTB/4 Coupe sold for $2,750,000 (Bonhams)
  10. 1931 Duesenberg Model J Murphy Convertible Coupe sold for $2,640,000 (Gooding & Company)

Results broken down by auction company

RM Sotheby’s
Overall Total: $38.8M
82/93 lots sold: 88% sell-through rate
Average Sale Price: $473,201

Overall Top 10 Sales:

  1. 1962 Ferrari 400 Superamerica Coupe sold for $4,400,000
  2. 1984 Ferrari 288 GTO Coupe sold for $2,585,000
  3. 1968 Ferrari 330 GTS Spider sold for $2,200,000
  4. 2014 Pagani Huayra Coupe sold for $2,035,000
  5. 1954 Bentley R-Type Continental 4.9L Fastback Sports Saloon sold for $1,815,000
  6. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,265,000
  7. 1932 Packard Twin Six-Series 905 Coupe Roadster sold for $1,210,000
  8. 1963 Shelby Cobra 289 R&P Roadster sold for $1,155,000
  9. 1931 Stutz DV-32 Convertible Victoria sold for $1,100,000
  10. 1968 Chevrolet Camaro Sunoco Trans Am Sport Coupe sold for $990,000

2015 Overall Results
Total: $60.1M
99/101 lots sold: 98% sell-through rate
Average Sale Price: $607,293

Motostalgia
Overall Total: $2.9M
40/73 lots sold: 55% sell through rate
Average Sale Price: $72,676

Overall Top 10 Sales:

  1. 2006 Mercedes-Benz SLR McLaren Coupe sold for $313,500
  2. 1989 Porsche 911 Carrera Speedster sold for $203,500
  3. 2005 Ferrari 575M Maranello Coupe sold for $165,000
  4. 1996 Porsche 911 Turbo Coupe sold for $151,250
  5. 1976 Porsche 911 Carrera Turbo Coupe sold for $137,500
  6. 1987 Ferrari Testarossa Coupe sold for $129,250
  7. 1988 Ferrari 328 GTS Spider sold for $108,900
  8. 1933 Auburn 8-98 Standard Phaeton sold for $99,000
  9. 2015 Land Rover Defender HUE-166 Utility Vehicle 4x4 sold for $99,000
  10. 1931 Auburn 8-98 Standard Speedster sold for $93,500

Hollywood Wheels
Cumulative Total through Saturday: $4.4M
49/126 lots sold: 39% sell through rate
Average Sale Price: $90,582

Overall Top 10 Sales:

  1. 1983 Ferrari 512 BBi Coupe sold for $334,800
  2. 1976 Porsche 935 Custom Coupe sold for $297,000
  3. 2003 BMW Z8 Alpina Roadster sold for $243,000
  4. 1989 Porsche 911 Carrera Speedster sold for $205,200
  5. 1977 Porsche 911 Carrera Turbo Coupe sold for $189,000
  6. 1988 Ferrari Testarossa Coupe sold for $178,200
  7. 1967 Porsche 911 S Coupe sold for $170,100
  8. 1961 Chrysler 300G Convertible sold for $156,600
  9. 1989 Ferrari Testarossa Coupe sold for $151,200
  10. 1989 Porsche 911 Turbo 930 Coupe sold for $143,100

Saturday Total: $2.6M
31/83 lots sold: 37% sell through rate
Average Sale Price: $84,719

Saturday Top 10 Sales:

  1. 1983 Ferrari 512 BBi Coupe sold for $334,800
  2. 2003 BMW Z8 Alpina Roadster sold for $243,000
  3. 1988 Ferrari Testarossa Coupe sold for $178,200
  4. 1961 Chrysler 300G Convertible sold for $156,600
  5. 1989 Ferrari Testarossa Coupe sold for $151,200
  6. 1939 Cadillac Series 75 Fleetwood Convertible Coupe sold for $141,480
  7. 1983 Ferrari 308 GTS Quattrovalvole Spider sold for $91,800
  8. 2006 Ferrari 612 Scaglietti Coupe sold for $90,720
  9. 1961 Chevrolet Corvette Convertible sold for $88,560
  10. 1941 Chrysler Highlander Convertible Coupe sold for $86,400

2015 Overall Results
Total: $14.0M
114/138 lots sold: 83%
Average Sale Price: $123,630

GOODING & CO
Overall Total: $60.2M
69/79 lots sold: 87%
Average Sale Price: $871,915

Overall Top 10 Sales:

  1. 1961 Ferrari 250 GT California SWB Spider (closed headlight) sold for $17,160,000
  2. 1955 Porsche 550 Spyder 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
Total: $27.0M
76/85 lots sold: 89%
Average Sale Price: $354,830

BONHAMS
Overall Total: $27.7M
66/97 lots sold: 68% sell-through rate
Average Sale Price: $419,014

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
  7. 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
Total: $13.8M
65/83 lots sold: 78% sell-through rate
Average Sale Price: $212,334

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