Archive
20/10/2022
Zoute auction. Superboom at Bonhams
This article covers Bonhams' recent auction in Zoute, where the auctioneer, Maarten ten Holder, introduced a "dynamic concourse" formula, starting the offers at 35%-40% of the minimum estimate, instead of the usual 50%, generating a frenzy of offers. Of the 73 cars offered for sale, 69 were sold, 26 of which exceeded their maximum estimates, resulting in a €23,372,936 ($22,747,825) turnover and an average price of €338,738 ($329,675) per car. The highlight of the auction was the 1957 BMW 507 S1, which was sold for €2,093,000 ($2,037,020). Other notable sales included a 1968 Lamborghini Miura P400, which was sold for €1,115,500 ($1,085,665) and three modern "special bodied" cars. The auctioneer's skills were praised for successfully placing these cars, which were built to very personal specifications.
13/10/2022
Bonhams and RM in the USA: great deals and bazaars
The article reports on the recent sales of classic cars at auctions by RM and Bonhams in the US. RM sold 97 cars for a turnover of $20,302,150, while Bonhams sold 34 cars for a turnover of $6,812,980. The top lot at RM was a 1960 Mercedes-Benz 300SL Roadster which sold for $1,595,000, while Bonhams sold a 1957 BMW 507 S2 Roadster for $2,315,000. The article discusses the range of cars sold, including replicas and recreations, and the unpredictability of the market.
08/10/2022
Forgotten Legends Chaparral
This article discusses the contributions of Jim Hall, an American racing engineer who brought significant and long-lasting innovations to the world of motorsports.
29/09/2022
Bonhams at Goodwood. God save the King’s car
Bonhams Goodwood auction generated 68.22% of the original estimates despite technical glitches that brought down the auction website. The auction sold 74 cars, representing 64.91% of the 114 vehicles offered, totaling £11,354,900 (€12,789,195) in value. The 1961 Cooper-Zerex-Oldsmobile sold for £911,000 (€1,026,070), while the 1952 Aston Martin DB3 remained unsold. Three Mercedes stood out in the auction; two McLaren SLRs and an SLS. The two SLRs were part of a limited edition series from Saudi Arabia, sold for £687,000 (€773,775) and £631,000 (€710,705), respectively. The SLS was estimated at £150,000-£160,000 but sold for £179,400 (€202,060). The article also mentions a collection of Rolls Royce from an anonymous Arabian owner.
22/09/2022
Bonhams in Beaulieu, what a pity we weren’t there!
The article reports on the results of the Bonhams car auction at the Beaulieu International Autojumble, the oldest car market in the UK. The auction saw 61 cars sold for a turnover of £2,138,973 against an original estimate of £2,410,500, a success for Bonhams. The article highlights the top lots, including a 1955 Aston Martin DB2/4 3.0 DHC in need of restoration, which sold for £172,500, a 1959 Aston Martin DB MkIII Sports Saloon that sold for £132,250, and a Rolls Royce 20/25hp Dreadnought Special from 1931 that sold for £155,250. The article also highlights two cars that were examples of practicality and ease of use: a Morris Minor Pick-up from 1967 that sold for £17,825 and a 1909 Daimler TB22 DHC that sold for £40,825.
15/09/2022
Gooding and RM: European ups and downs
Gooding and RM, two leading car auction companies, held two different auctions in Europe, with Gooding holding its auction in London, while RM held its event in St. Moritz. Gooding recorded an excellent result, with 78.37% of the cars sold, generating 78.08% of the estimated total value, equivalent to €26.5m (£23m). RM's auction, on the other hand, was less successful, with only 10 cars sold out of the 22 on offer and only 28% of the total value. The top lot at RM's auction was a 1936 Bugatti 57S Atalante, which failed to sell when offers stopped at €8,082,750 (CHF 7.8m). Conversely, Gooding's top lot, a 1960 Ferrari 250 GT SWB Competizione, sold for €8,960,250 (£7,762,500), exceeding the €7m-€8m estimate. The article suggests that the mismatch between the cars on offer and the type of buyers in the room may have contributed to RM's underperformance.
08/09/2022
Buying with reason. Insights from Pebble Beach
The article discusses the trends in the market for classic cars at the Pebble Beach auctions. The author examines 17 cars from various countries, indicating that the market is driven more by individual car history and characteristics rather than a particular model. The prices for classic Pre-War cars show a trend towards stability, while prices for Bugatti EB110 and Jaguar E-Type models have increased. Bonhams failed to sell their Jaguar E-Type Lightweight. Aston Martin DB5 once owned by Sean Connery was a hit, selling for more than its estimated price.
25/08/2022
Italians up and down at the Pebble Beach auctions
The article discusses the recent Pebble Beach auctions and analyzes the results of the sales of Ferrari, Lamborghini, Alfa Romeo, and Maserati cars. The author notes a decline in demand for historic Ferraris and speculates that the decreasing number of collectors who remember the 1950s, coupled with the high prices, may be the cause. However, the more recent models, such as the Testarossa from 1988 and the LaFerrari, did well and often set new records. The article also includes details of the prices achieved for several cars sold at the auction.
20/08/2022
Pebble Beach Auctions: almost 400 million $ in turnover but careful and selective buyers
The four Pebble Beach classic car auctions organized by RM Sotheby's, Gooding, Bonhams, and Mecum resulted in a global turnover of $397,797,610, with only RM Sotheby's achieving better results than in 2021. Many cars were sold beneath their estimates or remained unsold, indicating a deterioration in the relationship between estimates and real prices. The results suggest a slowdown in prices and that not every car automatically finds a buyer. In upcoming analyses, the cars will be divided by families to see how certain models maintain their solid positions while others are sliding back.
18/08/2022