Market Intelligence
Paris Auctions: Europe confirms the American successes
RM Sotheby's recently held an auction in Paris featuring 57 cars, including 29 Ferraris from the Petitjean collection. The auction saw 89.47% of cars sold and achieved €24,178,150 ($27,955,980) in takings, with five of the six most expensive cars being Ferraris. The top lot was a 1985 Ferrari 288 GTO from the Petitjean collection, which sold for €3,464,375 ($3,918,175), a new record for the model.
Those who wondered whether Europe would be able to respond to the recent successes of the American auctions at the beginning of the year, had their answer: YES! Often the two continents do not “talk” to each other and the results are quite different. This time, however, the flourishing market revealed itself in all its glory in Paris, in the two events that survived a postponed Retromobile that risked ushering in one or two clouds of doubt over the first important European auctions: RM Sotheby’s and Bonhams. We will analyse the latter next Thursday.
RM presented the second part of the Petitjean collection consisting of 29 Ferraris, all without reserve. In addition to these, it added a further 28 lots for a total of 57 cars. The result was very good indeed: 89.47% of the cars were sold (51 out of 57) with €24,178,150 ($27,955,980) in takings, equivalent to 106% of the estimates. Percentages worthy of records.
