Market Intelligence
The Monaco Auctions: racing cars race
The historic car auctions in Monaco saw Bonhams and RM Sotheby's competing for the highest prices. RM Sotheby's outperformed Bonhams, selling 47 out of 64 cars with an average price of €634,734. The event saw many successful sales, including Nigel Mansell's two Formula 1 cars, the Ferrari 640 F1 from 1989 and the Williams FW14, which sold for €3,605,000 and €4,055,000, respectively. The 1969 Alfa Romeo 33/3 was another highlight of the auctions, fetching €1,636,250.
It is the most glamorous event of the year. No, I am not talking about Paris fashion week or even the Ascot racecourse. Because here, we talk about cars, and if the conversation turns tohistoric GPs, then Monaco is incomparable anywhere in the world.
Very close to the track, two auction houses were ready to race: Bonhams and RM Sotheby’s.
Bonhams was more cautious: 35 cars on offer and just 14 without reserve (40%) for a total of €14,980,000 ($15,710,125). With 26 sales and €11,522,575 ($12,004,794) in takings, they managed to reach €443,176 ($461,722) per car.
