Market Intelligence
Bonhams in Monaco. A shy success
The Monte Carlo auction by Bonhams had a challenging start due to France's slow vaccine roll-out, resulting in a curfew at 8 p.m. However, despite these difficulties, Bonhams was able to achieve 68% sales, only slightly lower than the 77% in 2018, with an average price of lots passing from €350,000 ($423,314) to €312,000 ($377,355). The total turnover of €5,300,000 ($6,410,191) was lower than 2018, but it was expected given the limitations of the event. Notably, the 1936 Delahaye 135S Competition Court was sold for €850,000 ($1,028,049), while the Isdera Imperator 108i was sold for €690,000 ($834,534), exceeding expectations. The article discusses some of the other cars sold, including the Cisitalia D46 Monoposto, which was restored and had the potential to participate in the next Grand Prix Historique in Monaco.
Bonhams’ auction in Monte Carlo got off on entirely the wrong foot. Firstly, France’s slow vaccine roll out meant that Monte Carlo is still under curfew at 8 p.m. As a result, all attendants had to be back in their hotels in time for dinner, which left the organisers little choice but to start the event at the decidedly abnormal time of 2pm, reducing the participation of many American collectors for the time zone difference. In addition to this, the Grand Prix Historique had many other limitations, which also limited the presence of collectors. It is no coincidence that **Historics has shifted its focus to Ascot**while RM has abandoned its plans for this year.
It is therefore in this context that the results of the auction on 23rd April must be read. Indeed, whereas a quick glance at the results might show this auction in a poor light, Bonhams’ courage was indeed rewarded: in the end, with 68% of sales (17 out of 25), not that much lower than the 77% they took home in 2018 and an average price of lots which passed from €350,000 ($423,314) in 2018 to €312,000 ($377,355) this year, the drop, under the circumstances, was very well contained.
