If there is any downside to selling the world’s most expensive car at auction, it…
Auction Recap: Bonhams Quail Lodge 2016
Attendance was good at Bonhams’ Quail Lodge auction but bidding was initially slow. They kicked off the 2016 Monterey catalog sales with their annual one-day Quail Lodge auction, held Friday, August 19. Energy rallied a bit through the heart of the sale bringing overall totals to $34.6M. However, this is nearly 25 percent less than their 2015 total despite selling five more lots.
Bonhams top seller was the star 1931 Bugatti Type 51 Grand Prix racer. Driven during its prime by top names like Earl Howe, Tazio Nuvolari and Piero Taruffi the car was passed on the podium but announced sold a few minutes later during the sale.
Another one of the auction’s most anticipated cars was the 2014 Ferrari LaFerrari that crossed the block near the sale’s end. Sadly, the car failed to start just as it was poised for bidding so the crowd was cheated out of hearing the hypercar’s exhaust note. Still, this only dampened bidding slightly if at all, and the car sold for an impressive $3.685M.
On the other side of the aisle, a 1989 Mercedes-Benz 560SL fell below market at $15,400, and the four 930s in the sale further demonstrated that the market has adjusted downwards on these formerly red-hot models. All sold between $82,500 (for a 1978 model) and $132,000 (for a 1976 coupe and a 1989 Cab).
Overall, prewar cars fared well, including a record-setting $2.805M for a 1904 Mercedes-Simplex 28-32HP rear-entrance tonneau, a strong $1.254M for a 1930 Duesenberg Model J Murphy Town Car, and $594,000 for Wayne Carini’s all-original 1921 Stutz Model K Bearcat.
Overall Top 10 Sales:
- 1931 Bugatti Type 51 Grand Prix Roadster sold for $4,000,000
- 2014 Ferrari LaFerrari Coupe sold for $3,685,000
- 1904 Mercedes-Simplex 28-32HP Rear Entrance Tonneau sold for $2,805,000
- 1985 Ferrari 288 GTO Coupe sold for $2,112,000
- 2014 McLaren P1 Coupe sold for $2,090,000
- 1955 Lancia Aurelia B24 Spider America sold for $1,402,500
- 1930 Duesenberg Model J Murphy Town Car sold for $1,254,000
- 1989 Ferrari F40 Coupe sold for $1,155,000
- 1956 Porsche 356A Carrera GS Speedster sold for $891,000
- 1965 Shelby Cobra 289 R&P Roadster sold for $880,000
Bonhams next auction will be held during the Beaulieu International Autojumble in England on September 3, followed by the Goodwood Revival on September 10. The company’s next U.S. automobile auction is scheduled for October 3 in Philadelphia.