In any case we have to admit that RM really works professional. The crew of Rob Meyers really know what sells and at what prices.
Of all featured 18 Ferrari lots only the 4th of the 6 Zagato-converted 575 Maranellos did not sell at a high bid of 800k €. The estimate for #127928 started at 880k € and the seller refrained to let it go at a 10 % discount.
Let’s sneak through lot by lot with the results and some interpretation of the market. We will display the results in a Slide Show as well.
Generally spoken the good prices achieved are related to some economic reasons in our view. Still under the impression of the Financial Crisis, investors are still looking for alternative investments that to not correlate with stock markets or yields. The time when the “normal” attendants where represented by collectors or automotive nerds is gone. Many visitors and bidders today bid at auctions today to invest their money – to be honest, the majority of performance looks to already be behind us, but, as long as stock market are high, yields stay low and uncertainty is present the current bubble –if it is one, what we strongly believe- will not burst and every bubble is different and any event to make it burst is as different as well. Furthermore we are expecting new groups of buyers. The change of Chinese regularities is one reason for that.
All in all in notable that long term unloved 2+2 cars are catching up with the gap to their 2 seater siblings. This is especially the case with the 250 GTE and the 330 GT 2+2. We remember well times when cars like these have been offered at a price level of far below 100 k€. Nearly unnoticed the cars archived major appreciation when we were watching rising prices for 275 GTBs and Dinos.
3777GT 250 GTE Series II #223 Series II 5/62 Grigio Notte/Bordeaux LHD EU eng. # 3777GT body # 223 Gearbox # 357E
The estimate of Lot 111 was €160.000 - €200.000. It finally sold at € 275,000. The price obviously reflects a very original matching number car in its original livery. The same with lot 159, 8469 4/66 330 GT 2+2 Series II Argento 25090 A/Nero Franzi LHD EU eng. # 8469. Estimated to sell at €225.000 - €275.000, it returned €365,000.
Formula cars, especially if they do not show a winner’s history are having hard times obviously. 110 89 F1 89 Rosso Corsa/Beige CHD, offered as lot 176, sold 50,000 € below its estimate at €550,000. The car was entered in 6 Grand Prix with Gerhard Berger but was not able to finish one of them. It probably was of help that 110 was the first F1 car that Alain Prost did drive when he joined the Scuderia in 1990.
It might be the sustain absence of any original car available that lifts the Lancia Ferrari D50A-Replica to a price level of € 725,000. However, it is notable that 0007R was created around an original D50 engine.
Competition cars always sell well. #028, the modified 206 Dino S Spider is no exception. €1,850,000 have been paid for the little racer with its “Mini-312 PB”-style silhouette. The public’s current favorite 275 GTB was represented by former Nico Koel’s 09067, a Competizione that did not race until 1969. The achieved result of €5,100,000 is by no means unexpected.
Supercars, where to start? It looks like current examples like Enzo #133512 and F50 #106865 have reached their maximum level for the moment. The Million-barrier seems only to be reachable if converted into US$. Both cars (lot 185 and lot 160) sold around 800 k€. A 599 GTO goes for €320,000 – even if it was the last example built with a very low mileage. Surprisingly good results are returned by the SA Apertas. #186277, the final example as well, was hammered at €620,000.
Modern cars are not much better. Demand for Ferrari’s is reflected best with historic cars. The Superamerica #146647 –you might remember that this is the car with the “wrong Maticola plate”, story still untold- sold at €195,000 and the Challenge car #178992 was far below its estimate, but sold at €150,000.
Mike Sheehan’s Ferrari-“Big Mac indicator”, the Daytona still struggles around to 400 to 500 k€ range. #16991 was sold at € 475,000, probably disappointing for a low mileage car.
The “rest” –if we name it that- are the usual suspects – many cars of the 50s and 60s, the real head turners of any auction. Below its estimate came #12055, sold at €510,000, probably missing the last 70 k€ because of the non-original interior? Predecessor 330 GTC #11203 sold at €425,000. Series I Pinin Farina Cabriolet #1181GT was hammered at €4,200,000, the elegant 330 GTS #10719 sold for € 1,900,000.
All in all another huge success for RM Auction. We assume that their Pebble Beach activity will be their next big thing!