RM Miami: Youngtimer Bonanza

There are two very interesting things worthy of attention in this very successful auction organized by RM Sotheby’s on 10th December in Miami: the considerable interest in Youngtimer cars and the significant change in the price hierarchy, with Youngtimers surpassing established models from an older past. The numbers generated by this event are of particular interest: of the 58 lots on offer, only one went unsold (98.27%) and the optimistic $37,965,000 (€35,994,615) pre-sale estimate was literally pulverized by the final takings of $39,512,700 (€37,461,990): 104.7% of the original offer value. Was it the considerable amount (62%) of cars without reserve? Perhaps, but an average price of $693,205 (€657,225) isn’t exactly a number you achieve with luck alone…