Market Intelligence
Online RM Sotheby’s mixes things up
This article discusses the recent RM Sotheby's online auction, which featured cars from different regions with different currencies. Despite this, the auction had a healthy performance, with a 68.31% sales percentage and reaching 80% of the estimated value. The author attributes the success to the low estimates given to the models, as well as the volatile market for modern hypercars. The article highlights some of the cars sold at the auction and their prices, including a 2015 Porsche 918 Spider, a 1968 Ferrari 330 GTC, and a 1962 Mercedes-Benz 190SL Roadster.
You remember how I always say that the experience of participating in an auction has to be a simple one? Well, you can forget that because the RM auction was exactly the opposite. And yet despite this, the auction went very well indeed!
It didn’t look promising at the start: the online auction was divided into three parts (each segment ending on a different day) and for each segment a different currency was used: the cars that went under the hammer on the 26th were in Europe – and hence the sale was in Euros. Those of the 27th were in the United States – with offers in US$ – while the final day featured a Porsche collection from Switzerland – and here the bidding was in Swiss francs. But wait, it was even more intricate than that: not all the cars offered in Europe were of European production or registration and vice versa. For example, if you were in the market for a Ferrari, you found them in both € and $ and comparisons weren’t exactly easy.
