RM Auctions, in association with Sotheby’s, held its third annual Automobiles of London auction on October 28th, 2009 at Battersea Evolution in London, posting $18 million in total sales with a strong 87% of all lots sold.
The single-day auction presented 84 motor cars, consigned from 11 countries around the world, and 40 lots of automobilia, attracting strong international interest from bidders in the room, on the phone and over the internet.
A 1950 Aston Martin DB2 Team Car ‘VMF 64’ with Le Mans and Mille Miglia provenance, offered for the first time in 52 years, set a new auction world record for an Aston Martin DB2, achieving $910,250, while 13 lots exceeded their original high estimates. Most notably, an original 1969 Mercedes-Benz 600 Pullman Landaulet surpassed its pre-sale high estimate of $95,000 to achieve the remarkable sum of $509,740.
“This sale wraps up another fantastic year for RM globally,” said Max Girardo, Managing Director, RM Europe.
“We’re proud of our reputation for consistently achieving record prices and offering the finest motor cars available to the market, and yesterday’s results were certainly no exception. With an 87% sell-through rate and numerous lots exceeding their estimates, it’s fair to say that the collector car market is still remarkably strong,” added Girardo.
The top sale of the evening was a 2006 Mercedes-Benz CLK GTR Roadster, the only right-hand drive example built, achieving $1,019,480, followed closely by a 2005 Mercedes-Benz CLK GTR Coupe selling for $864,738.
The event also presented a fine selection of memorabilia and coachbuilt motor cars from the private collection of Mr. Edgar Schermerhorn. Headlined by a 1938 Bugatti Type 57C Stelvio for $728,200, the collection achieved a total $2.48 million.
RM Auctions offered 84 cars for sale, with 69 finding new owners, reflecting an 82% sale rate. The total sales volume was $18,170,393 and the average price per car sold was $263,339.
Click for the complete sales results:
2009 Automobiles of London Results
Last year, RM sold 69 of 100 cars offered (69% sales rate) for total sales of $24,266,998, buoyed by the 1997 McLaren F1 that brought a record $4,149,200. The average price per car sold was $351,695.
(Note: Results are converted from GBP to USD at £1.00 = $1.655).
2009 Automobiles of London Auction Results
Lot 226 - 1963 ATS 2500 GT 3.0 Litre Coupe - Sold for $509,740 versus pre-sale estimate of $975,000-$1,600,000. Last example built, one of only two known to have the 3.0-litre V8 and one of only five cars known to exist of the eight originally built. Although the selling price was well below pre-sale figures, the estimate would be better termed as a guesstimate since these are so rare and trade infrequently. With as much publicity as this car received, it is safe to say this is the market for this car. Fairly bought and sold.
Lot 253 - 1928 Rolls-Royce Phantom I Jarvis Torpedo - Sold for $710,000 versus pre-sale estimate of $815,000 - $1,300,000. Coachwork by Jarvis of Wimbledon; last of just four lightweight experimental sporting examples with fascinating Indian provenance.
Lot 259 - 1965 Shelby 427 Competition Cobra - Did not sell at high bid of $868,875 versus pre-sale estimate of $1,000,000 - $1,300,000. CSX3006 competed in several races during the 1966 season including at Goodwood, England and Zeltweig, Austria, and most significantly at Brands Hatch where it won the Ilford 500 with co-drivers Bob Bondurant and David Piper behind the wheel.
Lot 245 - 1950 Aston Martin DB2 Team Car - Sold for $910,250 versus pre-sale estimate of $405,000 - $730,000. VMF 64 is considered to be the most significant and original early Aston Martin Team car; first in class at Le Mans (1950 and 1951) and Mille Miglia (1951 and 1952). First new owner in 52 years bought a great car. Pricey, but impossible to find an equivalent offering.
Lot 278 - 1948 Bentley Mark VI Drop Head Coupe - Sold for $263,973 versus pre-sale estimate of $290,000 - $350,000. Part of Schermerhorn Collection; bodied by Graber.
Lot 268 - 1914 Rolls-Royce Silver Ghost Boat-Tail Skiff - Sold for $782,815 versus pre-sale estimate of $750,000 - $1,000,000. Last seen at RM's Scottsdale sale where it stalled at $725,000.
Lot 273 - 1967 Ferrari 330 GTC - Sold for $168,396 versus pre-sale estimate of $195,000 - $290,000. One-off Zagato body for Luigi Chinetti. Overheard in the crowd - perhaps Zagato bought it back so they could destroy it...
Lot 267 - 1939 Bugatti Type 57C Faux Cabriolet 'Charmaine' - Sold for $509,740 versus pre-sale estimate of $450,000 - $650,000. Original chassis plate and all of its original components; one-off James Young Faux Cabriolet coachwork.
Lot 210 - 1949 Talbot-Lago T26 Grand Sport Coupe - Sold for $491,535 versus pre-sale estimate of $525,000 - $610,000. One of two Franay-Bodied T26 coupes.
Lot 276 - 1938 Bugatti Type 57C Stelvio - Sold for $728,200 versus pre-sale estimate of $650,000 - $750,000. From the Schermerhorn Collection.
Lot 246 - 1954 Fiat 8V Coupe - Sold for $564,355 versus pre-sale estimate of $530,000 - $630,000. Chassis number 000042 was bodied at Ghia and styled by Mario Boano; only non-Supersonic Fiat 8V to be bodied by Ghia.
Lot 265 - 1965 Aston Martin DB5 Convertible - Did not sell at high bid of $587,525 versus pre-sale estimate of $610,000 - $695,000.
Lot 262 - 1947 Alfa Romeo 6C 2500 SS Cabriolet - Sold for $295,832 versus pre-sale estimate of $290,000 - $365,000.
Lot 241 - 2005 Mercedes-Benz CLK CTR Coupe - Sold for $864,738 versus pre-sale estimate of $635,000 - $730,000. Only two right-hand drive CLK GTRs ever built, never road registered and with delivery mileage only.
Lot 242 - 2006 Mercedes-Benz CLK GTR Roadster - Sold for $1,019,480 versus pre-sale estimate of $700,000 - $815,000. Only two right-hand drive CLK GTRs ever built, never road registered and with delivery mileage only.
Lot 227 - 1954 Mercedes-Benz 300SL AMG Coupe - Sold for $746,405 versus pre-sale estimate of $550,000 - $715,000. One of 11 examples; based on real Gullwing and modified by AMG with 6.0 litre, 380hp V8. A nice, original Gullwing (Lot 256) sold for $500,638 at the same sale.
Lot 205 - 1969 Mercedes-Benz 600 Pullman Landaulet - Sold for $491,535 versus pre-sale estimate of $65,000 - $95,000. One of 59 built and in unrestored original condition; Once-in-a-lifetime sales require once-in-a-lifetime bids and this was one of those opportunities. Several bidders were involved for quite some time, although it came down to two deep pockets desperately wanting the same thing. Don't be surprised to see this on the 18th fairway at Pebble Beach in a few years.
Lot 239 - 1929 Alfa Romeo 6C 1750 GS - Sold for $864,738 versus pre-sale estimate of $800,000 - $900,000. Coachwork by Carozzeria Sport; sold after the sale.
Lot 236 1914 Mercedes 22/50PS Town Car - Did not sell at high bid of $223,425 versus pre-sale estimate of $300,000 - $380,000. Brewster Coachwork.
Lot 222 - 1969 Lamborghini Miura P400 S - Did not sell at high bid of $364,100 versus pre-sale estimate of $445,000 - $570,000. The Miura market has been red hot, so the seller was smart to wait for another day.
Lot 211 - 1956 AC Aceca-Bristol Coupe - Sold for $107,575 versus pre-sale estimate of $80,000 - $110,000.
Lot 274 - 1952 Lancia Aurelia B53 Coupe - Sold for $95,162 versus pre-sale estimate of $105,000 - $160,000.
Lot 221 - 1965 Jaguar Coombs E-Type GT - Sold for $76,130 versus pre-sale estimate of $87,000 - $120,000. Only Frua body.
Lot 238 - 1946 Tatra T87 Sedan - Sold for $86,888 versus pre-sale estimate of $120,000 - $160,000.
Lot 269 - 1962 Chaparral 1 Sports Racing Car - Sold for $382,305 versus pre-sale estimate of $400,000 - $560,000. One of only five Chaparrals originally constructed by Dick Troutman and Tom Barnes, comes complete with a history file and an FIA/ACCUS Historic Vehicle Identity Form issued in March 2005.
Lot 258 - 1969 Lola T70 MK 3 Coupe - Did not sell at high bid of $595,800 versus pre-sale estimate of $730,000 - $890,000.
Lot 206 - 1966 Ferrari 275 GTB NART Spyder Conversion - Sold for $773,712 versus pre-sale estimate of $730,000 - $895,000.
[Source: RM Auctions]
Very solid results. How much is currency related though?
The RM Auction had some beautiful cars and the interesting provenance was delightful reading. Some of the interesting cars were the ATS, the Mercedes 600 Pullman Laundulet and the unfortunate condition it was in. I wish I had known more about it and who was it built for? The Ferrari designed by Coco Chinetti and built by Bertone was incredible. There is a great story on Mr. Chinetti in the British Magazine Octane which is excellent and way to short. I wish there ia forth coming book on the Chinetti family as they and Ferrari are as one. So many beautiful race cars were featured like the Lola T-70 and the Chapparal 1. The other stand outs are the Ferrari 275 GTS Nart and the Lamborghini Muira. It seems RM Auction seem to get better each time really awesome.