Market Intelligence
RM Sotheby’s: Belgium or Switzerland – Same Success
One hundred lots or twenty-three, no reserve or stratospheric estimates – two very different sales, one consistent outcome.
In a September rather thin on events, RM Sotheby’s managed to organise two sales as different from each other as they were successful. The first was the online sale of Belgian collector Willy Michiels, a collection of nearly one hundred cars with a preference for Mercedes-Benz and Porsche, which passed under the virtual hammer between 8 and 15 September.
96 cars were offered, all without reserve and, predictably, all sold. As often happens with this type of sale, the hammer total considerably exceeded the estimates: where the pre-sale figures pointed to receipts of €4,785,500, the final result came in at nearly 50% higher – €6,549,746.
The average price of €68,227 per car appears low by RM Sotheby’s standards, but the nature of the auction must be taken into account.
