We’ve seen an extraordinary few days of auction action in Paris.
What a week. The highlight was undoubtedly the auction of the Baillon Collection – “the barn find of the century” – which provided great entertainment and some amazing results. We’ve excluded them from this analysis but you can read our thoughts on the sale on our Goodwood blog. The Ferrari 250 SWB California sold for EUD 14.2 million + premium.
In summary, estimates have softened since Scottsdale with Artcurial offering the most conservative predictions, which are reflected in their overall statistical success. This hasn’t turned the increasing tide of cars that are selling under estimate though, and Paris looked like a good place to go and pick up a bargain (relative to some of the prices we saw 6-12 months ago). The cars offered also lacked the depth of quality and desirability that we saw at Scottsdale which will certainly have had an impact on the overall picture. The good news is that prices are still strong but it is the best cars that are making the real money and we did begin to wonder if good stock will become an issue for auction houses if they continue to bombard us with these volumes of motor cars.
Yet again we saw a high value Porsche 911 Carrera 2.7 RS fail to sell and a a less prized example get snapped up “cheap” – just making bottom estimate at £340,000 + premium. The Ferrari Testarossas continue its ascent as did Fiat Dino spiders of which some examples are firmly into six figure territory. Aston Martin DB values look to be stable with two open-top version selling well.
We’d award Artcurial man-of-the-match for a fine performance as they managed to take RM on at their own flambouyant game. Bonhams, who are usually very steady and quietly put in very strong performances didn’t quite find their rythm in Paris but with 15 more automotive auctions to come this year we’re sure they’ll find it.
|Sold over estimate||9||6.21%|
|Sold under estimate||70||48.28%|
|Sold in lower half of estimate||18||12.41%|
|Sold in upper half of estimate||12||8.28%|
|Sold in lower half of estimate or below||88||60.69%|
|Sold in upper half of estimate or above||21||14.48%|
|Sold at median estimate||0||0.00%|
|Sold within estimate – ACCURACY||30||20.69%|
A DAP kart previously race by Ayrton Senna nearly doubled its estimate – £
Bargain Bugs – Bugatti Type 37 sold for £170,000 + premium (estimate £260-340,000 and a Bugatti Type 57 sold for £284,000 + premium against an estimate of £290-360,000
A Porsche 964 RS sold for £180,000 inc premium – lets see if it turns up at a UK dealer.
Ferrari 250 GTE sold for £187,000 + premium (estimate £190-260,000)
Ferrari FXX – another of Ferrari’s track based toys failed to sell, surely someone will pick up a bargain on one of these sometime soon.
|Sold over estimate||7||10.45%|
|Sold under estimate||25||37.31%|
|Sold in lower half of estimate||9||13.43%|
|Sold in upper half of estimate||10||14.93%|
|Sold in lower half of estimate or below||34||50.75%|
|Sold in upper half of estimate or above||17||25.37%|
|Sold at median estimate||3||4.48%|
|Sold within estimate – ACCURACY||22||32.84%|
— DK Engineering (@DK_Engineering) February 5, 2015
A RHD Lamborghini Countach LP400 didn’t find a buyer in the £950,000+ zone
Maserati Ghibli Spyder sold short of a lower estimate of £412,500 reaching a high bid of £370,000
A Ferrari 250 Lusso made a shade over a million on the hammer nearly £200,000 short of lower estimate.
Lancia 037 Stradale made £225,000 on the hammer against a high estimate of £187,500
Ferrari 250 GTE sold for £190,000 inc premium
All three Astons made into or over estimate
Neither of the big ticket Porsche 911s – a 2.7 RS Lightweight and an ex-works 911S both with top estimates around the £1 million mark – found buyers
Artcurial – (excluding Baillon Collection)
|Sold over estimate||31||26.50%|
|Sold under estimate||26||22.22%|
|Sold in lower half of estimate||15||12.82%|
|Sold in upper half of estimate||22||18.80%|
|Sold in lower half of estimate or below||41||35.04%|
|Sold in upper half of estimate or above||53||45.30%|
|Sold at median estimate||2||1.71%|
|Sold within estimate – ACCURACY||39||33.33%|
A Testarossa with rerasonable mileage sold well at £150,000 inc premium
A Ferrari 356 GTB sold for a very strong £362,000 including premium. Their rise continues.
Less high profile Lamborghinis did well with a Jarama, an Islero and an Espada making £85,000/ £217,500/ £138,000 respectively.
One lucky buyer snapped up a 2000km Ferrari 599 GTO for £331,000 – good value in this market
If you were wondering where you could find an Alfa Romeo Montreal – this one sold for £80,460
A rather tatty looking Ferrari 308 “Polyester” – fibreglass in English- still found £116,000 inc premium
[Images courtesy of Bonhams, RM Auctions, Artcurial and YouTube]