Market Intelligence
Amelia auctions: pre-wars and supercars
The results of the recent Amelia Island Week auctions by Bonhams and RM Sotheby’s showed varying degrees of success. RM Sotheby’s had a better bottom line, selling 77 out of 92 cars for $46.2 million, while Bonhams fell short of last year’s sales with $13.8 million. The top lots sold at the auctions were classic models from the 1930s and modern hypercars, with some selling for well above their estimated values. Notably, a 1991 Ferrari Testarossa with just 666 miles sold for $321,250, setting a new record.
Now that the three auctions held during Amelia Island Week have come to a conclusion, after the considerable success of Gooding which we presented last week, we have the opportunity to look at the overall results in order to attempt to guess market trends after the auctions of Bonhams and RM Sotheby’s.
The balance sheets are very different from one another: in both cases, the sales percentage was fairly good at 85.7% and 88.5% respectively, but the bottom line was very different. It seemed unlikely that RM would have exceeded last year’s results but despite selling fewer cars (77 out of 92) it managed to bring home even better numbers: $46,258,640 (€42,137,457) against $40.6m (€37m) in 2021.
