Market Intelligence
Bonhams quadruples in Paris
Bonhams' recent auction in Paris saw a significant increase in success rate and turnover compared to last year. The 1996 Bugatti EB110 sold for €1,817,000, breaking the record in just 24 hours after a similar model was sold at RM for €1,805,000. The highest-priced car was a 2014 Ferrari LaFerrari, sold for €2,558,750. The auction also featured a Mercedes-Benz C63 AMG Station Wagon once used by Michael Schumacher, which sold for €27,600.
Comparing the results of Bonhams in Paris this February with those from one year ago, one has the distinct impression of change measured in orders of magnitude. There are multiple reasons for this: the effect of the easing of the pandemic, the fact that last year the auction was online and not in presence (something that raised the percentage of cars without reserve from 7% to 55%) and, something that’s clearly evident now, a particularly promising liveliness of the market.
Looking at the numbers, 2021 saw 68 cars offered with 55.90% selling (38). This year, 111 cars were offered and 91 were sold, translating into a success rate that flew up to 81.98% and a turnover that went from €3,729,645 ($4,244,224) to €18,629,425 ($21,199,725). An increase of more than 400%.
