Market Intelligence
Young and rich
The article discusses the results of the RM Sotheby's auction held in St. Moritz, Switzerland. It highlights that the auction featured well-known and "proven" brands with easily comparable models that could be sold quickly. The article provides an overview of the sales results for various classic cars and post-2010 supercars and hypercars. It notes that although the supercar and hypercar market is strong, the auction's overall sales were lower compared to the previous year's event. The article also provides details of some of the most expensive cars sold at the auction, including a 2012 Bugatti Veyron 16.4 Super Sport Coupé and a 2011 Ferrari 599 GTO. The article suggests that although the two Ferraris were highly anticipated, they both sold for lower prices than expected. The article concludes by noting that collectors are now returning to the market.
The Bonhams auction at Cheserex in Switzerland was a highly anticipated one. “The Bonmont Sale”, so named for the abbey (and the castle) that hosted it, with buyers physically in the hall, gave everyone a first real indicator of the state of the market post-Covid. Sure, there was Gooding in London but that was an extremely exclusive auction with truly unique (and very expensive and particular) cars. There was also Bonhams in Brussels but that was a first edition and there was very little to compare it with.
This one, on the other hand, featured very sellable cars, from well-known and “proven” brands with models produced in the thousands that could easily be compared with their equivalents sold before the pandemic.
In reality, merely by looking at the lots, you could have been fooled into thinking it was two different auctions: one for classic cars and another for post-2010 supercars and hypercars. 14 of the 25 supercars and hypercars on offer were sold, equivalent to 56%, at an average price of CHF 413,200. 20 of the pre-2010 cars were sold, equivalent to a very respectable 71.42% but with an average price of CHF 200,357. There is very little to add to this result other than confirming that the supercar and hypercar market is strong right now.
