Market Intelligence
RM Sotheby’s and the refined Boutique Auction at Tegernsee
Ninety percent sold, one Koenigsegg walked away – Tegernsee delivered intimacy, a record Mercedes, and a pair of helmets that outran all expectations.
Some have called it the Villa d'Este of Germany. Set against the enchanting backdrop of Gmund and Tegernsee, this event carries the official name "Concours d'Elegance of Germany" – a name so weighty that no other event bears an entire nation on its shoulders (the closest rival is Chantilly with "Concours d'état").
The event is small, intimate, cosy as they would say in England, and RM's 4 July sale was perfectly in keeping: just 20 cars offered, fewer than the already modest 29 of two years ago, yet almost all of them sold – 18 in total, or 90% (with automobilia reaching 100%). A considerably better result than 2024, when the sell-through rate stalled at 65.52%.
Yet statistics are only as meaningful as the samples are large. With so few cars on offer, the individual lots mattered more than the numbers. And when one of those lots weighs almost as much as all the others combined, any comparison loses much of its meaning. With fewer cars, the estimated total had fallen from €23,315,000 to €16,935,000 – but it is the hammer total that deserves attention: just €10,423,425 against €15,705,075 in 2024.
