60% of the cars available for sale at Artcurial’s Le Mans sale sold on the day – a good result in the opinion of some (including us). Maybe not in comparison with some of the 80+% sales rate we saw last year, but the fare on offer isn’t quite the same as it was back then.
The main story surrounding the auction result was Brexit. Artcurial emailed a post sale statement to the media which neatly excused them for a drop drop in sell-through rates and launched a raft of similar headlines in the classic car media.
Artcurial weathers the Brexit storm at the Le Mans Classic 2016 – Classic Driver
Le Mans Classic auction feels effects of Brexit vote – Classic & Sports Car
Artcurial’s Le Mans Classic auction suffers from effects of Brexit – Classic & Performance Car
Brexit obvious but Le Mans Classic sale a success – Classiccars.com
The email from Artcurial Motors Managing Director Matthieu Lamoure read as follows:
“Despite the glorious sunshine, our great friends the British collectors were sadly missing,” said in an e-mailed statement. “Although the sales results reflected the effect of Brexit somewhat…..
Quite how many UK collectors and deals normally bid at Artcurial’s auctions is up for debate, but we aren’t aware of that many and we have always understood that their sales are very eurocentric and this has been reported elsewhere. Artcurial claim that 65% of sales came from outside France in this sale. How much difference would it really have made if the UK were still in Europe?
The good news is that we thought Artcurial did a pretty good job.
60% represents a healthy sell-through rate.
42% of sold lots were sold within estimate – so Artcurial were on the money with valuations. Compare that with RM Sothebys’ 2015 Monterey auction where 32% of lots sold achieved the same.
Cars were selling for sensible prices. For example:
Porsche 930 Turbo – 200,000 kms (64,000 showing on odometer), crashed and repaired (since restored). Unappealling interior. Sold for EUD 127,600 (£77,000 – within estimate)
Ferrari 360 F1 Spider – once Jean Todt’s car. Unique specification, 41,000km. Sold for EUD 130,407 (approx £112,000 with premium). A lot of money.
Bugatti Type 57 Ventoux – estimate EUD 250-350,000. Sold for EUD 524,280 (approx £450,000 inc premium)
Cars with a story behind them or unrealistic estimates are certainly harder to sell than they where – how owners of such cars will deal with them in the future is anyone’s guess.
Ferrari 330 GTS – Certified by Ferrari who also kindly restamped the engine… Unsold.
Lancia 037 Group B. Highly optimistic estimate of EUD 450-650,000. Unsold.
We think Mr Lamoure will be quietly pleased with the outcome – despite the headlines….
|Sold over estimate||5||4.35%|
|Sold under estimate||35||30.43%|
|Sold in lower half of estimate||20||17.39%|
|Sold in upper half of estimate||8||6.96%|
|Sold in lower half of estimate or below||55||47.83%|
|Sold in upper half of estimate or above||13||11.30%|
|Sold at median estimate||1||0.87%|
|Sold within estimate – ACCURACY||29||25.22%|
Remember – you can easily reference how lots sold vs estimate and look at the the overall result as well as view the results in GBP using our auction heatmap.
Our pre-auction picks – how did they fare?
Estimates below are worked out at £1 = €1.18.
1961 Ferrari 250 GT SWB – didn’t sell – but most of the 250 SWB coming to auction recently haven’t….
1961 Mercedes Benz 300SL roadster. Estimate £690-930,000 (EUD 1.1 million). Sold for EUD 1.1 million in 2014. Alloy block & disc brakes. Not matching numbers – sold for £817,000.
Ferrari F40 – 6,800 kms. Estimate £930,000 – £1.1 million. 2 owners, nice history, original paint and Classiche certified. Red leather seats… Unsold
Aston Martin V8 Vantage Volante. 1,500 Kms, x-pack car, manual, 1 owner. Estimate £680,000 – 1.1 million. Incredible estimate but certainly one of a kind and these cars can make big money. Unsold – unsurprisingly at this estimate
Porsche 911 Carrera 2.7 RS Touring. Estimate £360,000 – £490,000. Sold for £408,000 inc premium. Almost bang on median estimate
1966 Lotus Type 47 Group 4. One of only 71 racers in the iconic Gold Leaf livery. Estimate £106,000 – 140,000. Looks like good value? Unsold.
Ferrari 512M. Estimate £186,000 – 220,000. The cricket screens in the photo are a bit of a giveaway. UK registered, LHD, low on history according to the description and previously lived in Japan – none of these (except LHD) will help its cause. The first of many to head for the continent? Unsold
Ferrari 575M. LHD, manual, Fiorano handling pack, 31,000 miles. Estimate of £150,000 – 190,000. Didn’t sell.
Talbot T14 LS coupe. Estimate £170,000 – £210,000. another UK car (RHD) that has been doing the dealer rounds. Sold – for just under £190,000 inc premium
Ferrari Dino 246 GT. Estimate £185,000 – £240,000. Sounds like an honest car that needs a little TLC. Unsold.
Ferrari 308 GTB “Vetroresina”. Estimate £130,000 – £165,000. One of the poster cars of recent times. 30,000 miles. Sold – for a sensible EUD 153,768 – approximately £132,000 inc premium.
Media credit – images courtesy of artcurial motorcars.