Auction Results: RM Auctions’ 2013 Villa Erba sale

RM Auctions held its biennial Italy sale in conjunction with the Concorso d’Eleganza Villa d’Este on May 25, 2013, in Villa Erba. This year’s event boasted a remarkable array of cars, with a Ferrari from virtually every decade, six Bugattis, a pair of Cisitalias, and a rare 1905 Fiat 60hp 5-passenger touring car. The auction was limited to 40 lots (including two boats), of which 32 sold — several at world-record prices — for a total of $35.5M. RM’s 2011 sale, by way of comparison, tallied $32.5M from the sale of 23 cars.

The highly anticipated 1953 Ferrari 340/375MM Competition Berlinetta sold for an astounding $12.8M, including buyer’s premium, while a 1962 Ferrari 400 Superamerica Aerodynamico earned $2.84M. The Fiat failed to find a new home at $1.5M, as did a 1957 BMW 503 Cabriolet at $283,000, but a beautiful 1947 Cisitalia 202 SMM Spyder Nuvolari did sell at just over $550,000. Several quick-moving cars in the market traded for milestone prices, including a 1962 Mercedes-Benz 300SL roadster ($1.45M), a 1964 Ferrari 250 GT Lusso ($1.27M), and a 1962 Ferrari 250 GTE ($305,000).

On the flip side, a 1955 Lancia Aurelia B24S Spider did not keep pace with two high-profile sales earlier this year, and ended up in a new garage at $640,000. Similarly, a fantastic ex-work MG K3 Magnette sold for $531,000, which was well under the $755,000 low estimate.

Top 10

1. 1953 Ferrari 340/375 MM Competition Berlinetta sold for $12,812,800
2. 1962 Ferrari 400 Superamerica Aerodinamico Coupe sold for $2,839,200
3. 1965 Ferrari 275 GTB Coupe sold for $1,456,000
4. 1962 Mercedes-Benz 300SL Roadster sold for $1,448,720
5. 2004 Ferrari Enzo Coupe sold for $1,390,480
6. 1964 Ferrari 250 GT Lusso Berlinetta sold for $1,266,720
7. 1985 Ferrari 288 GTO Coupe sold for $1,252,160
8. 2010 Ferrari 599 XX Coupe sold for $1,193,920
9. 1961 Ferrari 250 GT SII Cabriolet sold for $1,084,720
10. 1965 Ferrari 275 GTS Spyder sold for $1,033,760

RM’s next auction will be in St. Johns, Mich., on July 27, 2013. Held in conjunction with the Concours d’Elegance of America, the sale features a 1929 Duesenberg Model J dual-cowl phaeton, a 1932 Packard Custom Eight Convertible Victoria by Dietrich, and a 1931 Cord L-29 Cabriolet.