Bonhams Quail Lodge 2016 – Auction Report

Bonhams, Quail Lodge, Carmel Valley, California, August 19, 2016

The total sale may be off from 2013’s $107.5 million blockbuster 2-day sale including the Maranello Rosso collection (and, not incidentally, the 250 GTO s/n 3851GT’s $38.1 million price) and 2014’s strong performance of $44.3 million but 2016 marked a highly credible continuation of Bonhams’ presence in and contribution to the Monterey week’s commercial activity.

All but four of the twelve cars that reached hammer bids of $1 million or more sold led by three cars about as different as it is possible to be in their concept and history.

Top seller was the ex-Lord Howe Bugatti Type 51 Grand Prix sold for $4,000,000 (in a transaction that closed after it left the block). It was closely followed by one of today’s most advanced and high tech supercars, a spanking new La Ferrari Berlinetta at $3,685,000. Then, for the antiquely inclined, came the 1904 Mercedes-Simplex Rear Entrance Tonneau, a London to Brighton Veteran Car Run star, that brought $2,805,000 (all amounts include commission).

If anyone thought interest in antiques and brass era cars was confined to aging collectors the Mercedes-Simplex [in which I had a ride and couldn’t endorse more for its spirit and performance] is cause enough for reassessment. That is further confirmed by the sale rate for the six pre-WWI cars offered: 100%.

Bonhams’ sale rate of 91.8% also was the highest among all the Monterey auctions and affirms the judgment of Bonhams specialists in presenting one of the most diverse consignments on the Monterey Peninsula. In addition to the six pre-WWI cars there were eighteen from the inter-war years and they achieved a 72.2% sale rate.

At the other end of the sale the five cars built since the turn of this century offered by Bonhams achieved an 80% sell-through with the McLaren P1’s $2,090,000 price in the top five sales, just behind a Ferrari 288 GTO.

It amounted to a thoroughly enjoyable and productive way to kick off the Monterey auctions.

Andrew Newton contributed to the on-site observations and photographs from Bonhams.

Bonhams Quail Lodge
Cars Offered / Sold
Sale %
Sold < Low Est
Sold > High Est
Average Sale
Total Sales
Chg from prior year
2016
110 / 101
91.8%
64.6%
6.30%
$347,872
$35,135,100
(20.7%)
2015
111 / 95
85.6%
55.3%
9.60%
$466,164
$44,285,600
6.7%
2014
105 / 95
90.5%
52.6%
14.7%
$437,369
$41,550,100
33%
2013
92 / 78
84.8%
51.3%
12.8%
$399,833
$31,186,950
167%
2012
96 / 55
57.3%
70.4%
3.7%
$212,056
$11,663,070
14.2%
2011
129 / 62
48.06%
59.7%
14.5%
$164,706
$10,211,765
(43.3%)
2010
102 / 79
77.5%
55.1%
16.7%
$228,224
$18,029,690
37.03%
2009
103 / 60
58.3%
56.7%
13.3%
$219,292
$13,157,529
(36.73%)
2008
77 / 43
55.8%
63.4%
9.8%
$483,647
$20,796,800
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Bonhams Quail Lodge 2016 – Auction Report

1969 Chevrolet Camaro Z/28 2-Dr. Hardtop
Lot # 1 1969 Chevrolet Camaro Z/28 2-Dr. Hardtop; S/N 124379L526864; Olympic Gold, Black stripes and vinyl roof/Black vinyl; Estimate $60,000 – $80,000; Recent restoration, 2+ condition; No Reserve; Hammered Sold at $52,000 plus commission of 10.00%; Final Price $57,200 – 302/290hp, 4-speed, console gauges, power brakes, woodgrain steering wheel, AM-FM, Rally wheels with trim rings and hubcaps, Radial T/A blackwall tires, long tube headers, power steering, cowl induction. – Very good clearcoat paint, chrome and interior. Underbody imprinted and like new. Engine compartment is sharp and fresh; engine number has been decked off. A fresh, sharp restoration to like new with reasonable modifications. – Even the estimate range on this Z/28 is modest but reflects the lack of any contention that it has its original drivetrain, an omission that accounts for some but not all of the discount from the nearly $100K price it could have brought. Even if the engine came out of a pickup truck this is a lot of car for the money and a strong value at this result.
1974 Alfa Romeo Montreal Coupe
Lot # 2 1974 Alfa Romeo Montreal Coupe; S/N AR1428175; Engine # AR00564S0785; Orange/Black vinyl; Estimate $80,000 – $100,000; Recent restoration, 2- condition; No Reserve; Hammered Sold at $105,000 plus commission of 10.00%; Final Price $115,500 – Campagnolo alloy wheels, Falken tires. – Good repaint with some minor masking oversights. Generally good chrome and bright trim; pitted rear hatch hinges. Good upholstery and gauges. Clean undercoated underbody. Fresh engine compartment presents like new. An unusually good Montreal. – This is a quality car done to reasonably good standards. The buyer paid generously, but not outrageously, for it.
1973 Porsche 911S Coupe
Lot # 4 1973 Porsche 911S Coupe; S/N 9113301166; Engine # 6331858; Tangerine/Black leatherette; Estimate $180,000 – $220,000; Older restoration, 2- condition; No Reserve; Hammered Sold at $120,000 plus commission of 10.00%; Final Price $132,000 – Bosch fuel injection, Fuchs wheels, Pirelli P6000 tires, dual mirrors, Blaupunkt AM/FM stereo. – Paint coming off of the lug nuts. Engine bay is run but tidy. Two nicks in the front rubber rub strip. A few scratches in the front Porsche badge. Exterior plastic is a little dry. Very good paint. Newer upholstery and carpets. Dash and gauges are original but very good. Represented as matching numbers. Not a show car, but gorgeous and eye-catching enough to be proud of. Has received restoration work intermittently but has never been restored all at once. – This was the fourth car of the sale and first of 11 911s to cross the block at Bonhams this year, and there were dozens more 911s to choose from on the peninsula throughout the week. That may have diminished the appeal of this otherwise very good and usable car in desirable S specification. With Porsche 911 prices softening but still high, this can be considered something of a bargain, until the market turns.
2005 Porsche Carrera GT Coupe
Lot # 5 2005 Porsche Carrera GT Coupe; S/N WP0CA29835L001566; Silver/Terracotta leather; Estimate $600,000 – $750,000; Unrestored original, 2 condition; With Reserve; Hammered Sold at $580,000 plus commission of 10.00%; Final Price $638,000 – Carbon ceramic brakes with yellow calipers, wood shift knob, power windows, air conditioning, clear bra on the nose, tinted windows. – Like new inside, out and underneath. Just 2,200 miles and barely broken in. – This Carrera GT result is in line with other recent transactions for similarly low mileage all-but-showroom new examples, down from the nearly seven figures they brought in recent memory but still twice the price of just a few years ago.
1967 Maserati Mexico 4.7 Coupe
Lot # 7 1967 Maserati Mexico 4.7 Coupe; S/N AM1121162; Engine # AM1121162; Ruby metallic/Tan leather; Estimate $150,000 – $200,000; Visually maintained, largely original, 3- condition; No Reserve; Hammered Sold at $95,000 plus commission of 10.00%; Final Price $104,500 – Chrome spoke wire wheels, General tires, power windows, air conditioning. – Repainted assembled, even the windows were left in. Thin, shadowed window trim chrome, weak door handle chrome. Old undercoat in the wheelwells. Good, lightly stretched upholstery. Orderly, but not restored engine compartment. An auction Mexico. – Sounding better in the catalog than it turned out to be in person, the result it brought appropriately reflects the underlying appeal of the drivetrain ameliorated by the marginal attention it has received which leaves little confidence in the condition of things that can’t be seen readily. This is an appropriate price for a disappointing car.
1951 Allard J2 Roadster
Lot # 8 1951 Allard J2 Roadster; S/N 99J2121; BR Green/Tan leather; Estimate $325,000 – $375,000; Modified restoration, 2 condition; With Reserve; Not sold at Hammer bid of $280,000 – Ford 289/305hp engine, 4-speed, cycle front fenders, Bluemels steering wheel, dual Plexiglas windscreens (original full windshield with wipers included), Hurst shifter, Aeroquip brake lines, silver painted wire wheels, Dunlop tires. – Excellent cosmetics, new front and rear fenders and upholstery. Very lightly used, but not as it was built. Engine changed to a 289/225hp Ford from the original Ardun ohv Mercury flathead V-8 in the UK in the late 60’s, then upgraded to the present modified 289 Ford in 2011. – One of 82 known to survive of 94 built. It’ll be [a lot] faster now, a mixed blessing with the J2’s notorious handling quirks: fast in a straight line but tiptoe through corners. It was sold by Gooding at Amelia in 2013 for $330,000, a result that strains credulity. The seller’s expectations have been realistically reset with this result.
1967 Chevrolet Corvette Roadster
Lot # 9 1967 Chevrolet Corvette Roadster; S/N 194677S116376; Engine # 7116376V0404HT; Goodwood Green, Goodwood Green hardtop/Saddle vinyl; Beige vinyl top; Estimate $80,000 – $120,000; Older restoration, 2- condition; No Reserve; Hammered Sold at $62,000 plus commission of 10.00%; Final Price $68,200 – 327/350hp, 5-speed (original 4-speed included), side exhaust, alloy wheels, red line tires, AM-FM, two tops, power steering, (partial) build sheet documented. – NCRS judged, represented as the matching numbers engine. Quality paint, upholstery, trim and chrome. Scuffed windshield trim, thin vent window moldings. Orderly engine compartment shows some age and a few careful miles. Restored (almost) like new and still fresh and highly presentable. – This result is a hefty discount for the extra gear in the Tremec, especially when the original 4-speed comes along with it in a crate. These high output small blocks with 4-barrel carbs are a great value in performance compared with their big block counterparts; this one is an even better value.
1964 Porsche 356C 1600 Coupe, Body by Karmann
Lot # 12 1964 Porsche 356C 1600 Coupe, Body by Karmann; S/N 216729; Engine # 712046; Black/Red leatherette; Estimate $70,000 – $90,000; Recent restoration, 2- condition; No Reserve; Hammered Sold at $110,000 plus commission of 10.00%; Final Price $121,000 – 1582/75hp, steel wheels with hub caps, Cinturato tires, disc brakes, tool roll. – Lightly run, very clean engine bay. Lightly worn steering wheel. Otherwise excellent interior. Very good paint. Light rust on the screws for the headlight bezels. Represented as a matching numbers recent restoration finished earlier this year. Lightly used but nothing too big to pick on. – An honest Porsche driver’s car restored to good standards but with some unnerving oversights that were overlooked by the bidders on the way to this generous price.