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Amelia Island 2015 auctions – overview

By Edward Legge | Classic car auctions & analysis | 2 Comments

The auctions have been on a rollercoaster  since August last year – so where are we on the ride now?

It’s difficult to sum up the Amelia Island auctions. When it comes to the big auction rounds – there really should be a collective noun for them, shouldn’t there – we could sum up most of them with a couple of words. Monterey (madness), London (sensible), Scottsdale (market correction), and Paris (back to business) but Amelia has been a bit harder to define.

We’re so used to high sell through rates now that Bonhams’s sell through rate of around 80% seemed a little on the low side. RM and Gooding benefitted from higher value consignments and the best cars continue to perform well. The “£1 million” market is still healthy but buyers are becoming more picky, demonstrated nicely by cars such as Ferrari F40, 275 and 365 Daytona and Lamborghini Miura. Hagerty summarised the growth sector of the market very nicely, so we won’t have to:

The strongest segment of the market at the moment by far is for cars favoured by Generation X. Those halo cars built during the 25 years from (roughly) 1973 to 1998…

The popularity of cars of this generation is a natural cycle  perpetuated by buyers of a similar vintage so it should come as no surprise. Ferrari and Porsche of this age are doing well although we believe earlier Porsche values are cooling in the light  of more powerful and younger Porsche models finding favour with Generation X – a turbo-charged Porsche looks like great  value when compared to a 2.0, 2.2 or 2.4.

We’ve talked about price separation before – the good cars rising to the top and the rest settling and we predict we will continue to see this throughout 2015 as fewer cars make estimate or above. We also believe that the high sell through rates will be eroded over time, although not by much. Prices are still very strong in the auction market and despite models like the Ferrari Dino looking decidedly better value than in the middle of last year we have to remember that auction only represent 5% of the global classic car market. There is no doubt that beneath the tip of the iceberg prices and demand are still strong.

Jaguar D-Type

 

You can also view individual reports for all three auction – RM Sotheby’s, Bonhams and Gooding & Co.

 

Amelia Island – the numbers (kindly provided by Hagerty UK)

 

Overall from all auction companies

Cumulative Total: $100.9M

241/269 lots sold: 90% sell-through rate

Average Sale Price: $418,862

 

2014 Overall Cumulative Results

Cumulative Total: $66.9M

166/179 lots sold: 93% sell-through rate

Average Sale Price: $402,777

 

Overall Top 10 Sales from all auctions:

  1. 1960 Ferrari 400 Superamerica Cabriolet (open headlight) sold for $6,380,000 (RM)
  2. 1955 Jaguar D-type Roadster sold for $3,675,000 (RM)
  3. 1972 Ferrari 365 GTS/4 Daytona Spyder sold for $3,300,000 (RM)
  4. 1967 Ferrari 275 GTB/4 Coupe sold for $3,300,000 (Gooding)
  5. 1935 Mercedes-Benz 500/540K Sindelfingen Cabriolet sold for $3,025,000 (RM)
  6. 1931 Alfa Romeo 6C 1750 Gran Sport Zagato Spider sold for $2,420,000 (RM)
  7. 1938 Bugatti Type 57C Gangloff Aravis Cabriolet sold for $2,337,500 (RM)
  8. 1971 Lamborghini Miura P400 SV Coupe sold for $2,310,000 (RM)
  9. 1988 Jaguar XJR-9 Coupe sold for $2,145,000 (RM)
  10. 1967 Shelby Cobra 427 S/C Roadster sold for $2,117,500 (RM)

Results broken down by auction company


 

RM Sotheby’s

Overall Total: $60.1M

99/101 lots sold: 98% sell-through rate

Average Sale Price: $607,293

Overall Top 10 Sales:

  1. 1960 Ferrari 400 Superamerica Cabriolet (open headlight) sold for $6,380,000
  2. 1955 Jaguar D-type Roadster sold for $3,675,000
  3. 1972 Ferrari 365 GTS/4 Daytona Spyder sold for $3,300,000
  4. 1935 Mercedes-Benz 500/540K Sindelfingen Cabriolet sold for $3,025,000
  5. 1931 Alfa Romeo 6C 1750 Gran Sport Zagato Spider sold for $2,420,000
  6. 1938 Bugatti Type 57C Gangloff Aravis Cabriolet sold for $2,337,500
  7. 1971 Lamborghini Miura P400 SV Coupe sold for $2,310,000
  8. 1988 Jaguar XJR-9 Coupe sold for $2,145,000
  9. 1967 Shelby Cobra 427 S/C Roadster sold for $2,117,500
  10. 1953 Ferrari 250 Europa Vignale Coupe sold for $1,550,000

 

2014 Overall Results

Total: $35.9M

88/91 lots sold: 97% sell-through rate

Average Sale Price: $408,040 


 

GOODING

Overall Total: $27.0M

76/85 lots sold: 89%

Average Sale Price: $354,831

 

Overall Top 10 Sales:

  1. 1967 Ferrari 275 GTB/4 Coupe sold for $3,300,000
  2. 1961 Ferrari 250 SII Cabriolet sold for $2,090,000
  3. 1991 Ferrari F40 Coupe sold for $1,622,500
  4. 1963 Mercedes-Benz 300SL Roadster sold for $1,275,000
  5. 1957 Mercedes-Benz 300SL Roadster sold for $1,237,500
  6. 1974 Porsche 911 Carrera RSR Coupe sold for $1,237,500
  7. 2011 Ferrari 599 SA Aperta Convertible sold for $1,155,000
  8. 1996 Porsche 911 GT2 Coupe sold for $973,500
  9. 1967 Ferrari 330 GTC Coupe sold for $935,000
  10. 1932 Lincoln KB Dietrich Coupe sold for $836,000

 

2014 Overall Results

Total: $31.0M

78/88 lots sold: 89%

Average Sale Price: $396,839


 

BONHAMS

Overall Total: $13.9M

66/83 lots sold: 80% sell-through rate

Average Sale Price: $209,950

 

Overall Top 10 Sales:

  1. 1930 Cord Model L-29 Murphy Town Car sold for $1,760,000
  2. 1908 American Underslung 50HP Roadster sold for $1,738,000
  3. 1932 Stutz DV-32 Super Bearcat Convertible sold for $1,012,000
  4. 1930 Rolls-Royce Phantom I Hibbard & Darrin Transformal Phaeton sold for $742,500
  5. 1981 BMW M1 Coupe sold for $605,000
  6. 1969 Ferrari Dino 206 GT Coupe sold for $495,000
  7. 1925 Bentley 3 Litre Vanden Plas Four-Seater Touring sold for $462,000
  8. 1912 Peerless Model 60 Runabout sold for $440,000
  9. 1952 Alfa Romeo 1900C Sprint Coupe sold for $415,800
  10. 1980 Ferrari 512 BB Coupe sold for $359,700

 

Overall 2014 Results

Total: N/A

N/A lots sold: N/A sell-through rate

Average Sale Price: N/A

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