RM Sotheby’s, Ritz Carlton, Amelia Island, Florida, March 14, 2015
Only 28 auctions have recorded higher sale totals than RM’s 2015 Amelia Island auction total of $60,122,000. It is by nearly 50% the highest auction total ever at Amelia.
Only 18 have recorded higher median transaction values than RM Amelia’s $258,500, only 25 have higher average transaction value than its $607,293.
RM announced in the week following the sale that the two cars unsold during the auction were placed in post-block transactions (albeit with undisclosed values that prevent them from being included in the aggregate stats), an unprecedented accomplishment in a multi-consignor auction with 55% of the lots offered with reserves.
What better way for Rob Myers and his team to kick off the newly-announced acquisition of a 25% interest in RM Auctions by Sotheby’s?
The RM-Sotheby’s connection has been bubbling up since Sotheby’s botched 2005 auction at Ferrari in Maranello which RM bailed out two years later with a successful $45.1 million, 97% sale rate auction in the same location.
RM’s 2013 ‘Art of the Automobile’ auction at Sotheby’s York Avenue headquarters in New York, a $62.6 million showcase of style and rarity that placed 91.4% of the cars offered with new owners, continued the trend line that leads directly to last month’s announcement.
Rob Myers and Sotheby’s CEO Bill Ruprecht kicked off the Amelia Island auction with a presentation on the block … then Ruprecht, who had announced his impending resignation in November under pressure from activist investor Dan Loeb, was succeeded as CEO four days later. His replacement, Tad Smith, comes to Sotheby’s from Madison Square Garden Co. and has zip auction experience, but loads of background putting on blockbuster events – which says volumes about how much the auction business has come to depend upon Barrett-Jackson style event production and management.
Will Dan Loeb meet his match with the motorcycle painter from Canada, Rob Myers?
I put my money on Rob, who doesn’t bet unless he holds a full hand. It’s going to be fun to watch.
RM Sotheby’s alliance is the clearest example of the evolution of the collector car auction world. While new guys are showing up almost every month the smart players are making alliances for better stability, overhead absorption and enhanced financial resources, hedging against a coming shakeout.
Success like RM Sotheby’s produced at the Ritz Carlton Amelia Island this year is only the tip of the iceberg.
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RM Sotheby’s Amelia Island 2015 – Auction Report
Lot # 127 1952 Kurtis Kraft 4000 “Bowes Seal Fast” Special Indy Car; S/N 346; Engine # SPL; White, Blue/Brown leather; Estimate $275,000 – $350,000; Competition restoration, 2- condition; Hammered Sold at $450,000 plus commission of 10.00%; Final Price $495,000. With Reserve – Transverse leaf spring front, torsion bar rear suspension, lever shocks, 4-wheel disc brakes, centerlock polished disc wheels. – Driven by 1952 Indianapolis 500 Rookie of the Year Art Cross, later by others including Joey James, Mike Nazaruk, Johnny Parsons and Don Branson. Restored in the early 90’s, displayed at Pebble Beach in 1996 where it was first in class and winner of the Tony Hulman Memorial Cup. Well restored and shiny, not fresh but highly presentable with less than 10 hours on its early 90’s rebuilt engine. – This is a milestone price, but also a significant car with a good history and an impressively long lived restoration.Lot # 128 1931 Cord Front Drive L-29 Convertible Phaeton; S/N 2930071; Engine # FF 4993; Pale Green, Green accent/Tan leather; Tan cloth top; Estimate $150,000 – $200,000; Older restoration, 2- condition; Hammered Sold at $142,500 plus commission of 10.00%; Final Price $156,750. With Reserve – Chrome wire wheels, wide whitewalls, dual sidemounts with strap on mirrors, metal luggage trunk. – Good recent paint, chrome and wire wheels. CCCA Premier # 0899 and ACD Club Category One. Restored in the 60’s with more recent paint and mechanical freshening. Good older top and interior. Rather startling colors. – Impressive on its own, but also impressively maintained over the half century since its original restoration, this is a reasonable price.Lot # 129 1972 Ferrari 246 GT Dino; S/N 03154; Argento Autiel/Bordeaux leather; Estimate $300,000 – $350,000; Unrestored original, 3+ condition; Hammered Sold at $330,000 plus commission of 10.00%; Final Price $363,000. With Reserve – Cromodora alloy wheels, Michelin X tires, P/W, Becker Mexico cassette, chrome shift knob, headrest seats. – Represented as original and unrestored with 27,478 miles except for repainting the rear deck after removing a Ferrari badge. Three owners. Bad rust blister over the right upper door hinge. Very good upholstery and chrome. Clean, orderly engine compartment. Clean underbody with original undercoat. – Other than the rot in the passenger’s door this is a sound and well-documented highly original Dino that has all the indicia of a car that has been carefully maintained throughout its life by a few caring owners. It is a sound value for money in the present Dino market.Lot # 134 1995 Ferrari F512 M Berlinetta; S/N ZFFVG40A1S0101411; Red/Beige leather; Estimate $325,000 – $375,000; Unrestored original, 2- condition; Hammered Sold at $420,000 plus commission of 10.00%; Final Price $462,000. No Reserve – Speedline 18-inch modular wheels, Continental tires, A/C, manuals, tools. – Good original paint and chrome. Wheel wells stone chipped and show road use. Belt serviced three years ago with 150 miles since. A clean, original used car showing 11,749 believable miles. – This was a $275,000 car only months ago, now it’s estimated at $325-375,000 and sold for a hammer bid 12% over the already generous high estimate, a transaction that confirms the value escalation of late model Ferraris. Consider that this is a production car, one of 75 U.S. spec cars and 501 total. Even as the ultimate Testarossa derivative it is commonplace and visually ‘just another Testarossa’. This is huge money.Lot # 135 1955 Jaguar D-Type Sports Racer; S/N XKD 530; Engine # E2044-9; Dark Green/Green leather; Estimate $3,750,000 – $4,250,000; Competition restoration, 2- condition; Hammered Sold at $3,340,909 plus commission of 10.00%; Final Price $3,675,000. With Reserve – RHD. Dunlop centerlock alloy wheels, Dunlop Racing tires, dual wraparound Plexiglas windscreens, 4-point belts, RetroTrip rally odometer, SINN stopwatch and clock, three Salter digital timers, driver’s head fairing. – A well known car with an involved history. First owned by tennis player Kurt Lincoln of Finland and raced there on land and on ice. It was later separated into two cars claiming the same chassis number. Eventually Gary Bartlett acquired both cars which were extensively researched and examined by Chris Keith-Lucas then reassembled into this car with the original monocoque, front chassis subframe, engine, transmission and brake calipers. An unnumbered bitsa also resulted, now owned by C- and D-type registrar Terry Larson. Very good paint and interior. Chassis (and an array of scrutineering stickers) shows use. Attractively presented and maintained. – Sold by Christie’s in London in June 2002 for $517,979 while there were still two claimants to the chassis number, then sold after rectification by RM at Monterey in 2013 for $3,905,000. It left the RM Sotheby’s Amelia auction block unsold but closed during the sale with this result, surely an excellent deal in a D-type that is eligible for, and has participated in, many desirable events including four runs in the Mille Miglia Storica.Lot # 137 1958 Pontiac Bonneville 2-Dr. Hardtop; S/N C558H3252; Engine # C558U 3252; Green, Light Green roof and accent/Light Green vinyl, Green cloth; Estimate $100,000 – $150,000; Older restoration, 3+ condition; Hammered Sold at $75,000 plus commission of 10.00%; Final Price $82,500. No Reserve – 370/300hp Tri-Power, automatic, P/S, P/B, P/W, Trans-Portable radio, heater, power antenna, rear speaker, wheel covers, whitewalls, skirts. – Good old paint, chrome and interior except for some weak window trim. Aged, used engine, dirty underbody. Once was a show queen, now it’s a mediocre driver. – Sold by RM from the Milhous brothers’ collection in 2012 for $121,000, then by Auctions America at Auburn Fall in 2013 for $107,250, it isn’t ageing well and brought what it should in its present mediocre condition. But the new owner has an opportunity to give it some attention and bring it back to better appearance while restoring some of the value it has lost due to use.Lot # 138 1935 Mercedes-Benz 500/540K Cabriolet A, Body by Sindelfingen; S/N 105384; Engine # 105384; Black/Red leather; Black cloth top; Estimate $2,900,000 – $3,500,000; Older restoration, 1- condition; Hammered Sold at $2,750,000 plus commission of 10.00%; Final Price $3,025,000. With Reserve – Black wire wheels, blackwall tires, dual rear spares, mother of pearl instrument travel, spotlight, dip beam light. – Change to 540K engine endorsed in correspondence from M-B. Especially handsome bodywork combining the style of a Special Roadster and the weather protection of a Cabriolet. Known history through its assignment to Dr. Gavin, a M-B director, in 1938 then from its appearance in Paris in 1953. Continuous history since 1957 including use by M-B in 2005 for model introductions. Exceptionally attractive for a cabriolet, even with the top down. An older restoration with good but not concours paint, bright chrome, good interior and top and sound interior wood. Chassis has been repainted assembled since the restoration with some shadows from inattentive application. Clean, chrome detailed engine. – Sold by Worldwide in Houston in 2006 for $1,650,000 and a little aged since then but still nearly concours quality, a car that needs no excuses for its Cabriolet A body, which is every bit as attractive as a Special Roadster.Lot # 141 1972 Ferrari 365 GTC/4 Coupe, Body by Pininfarina; S/N 15197; Blue Sera/Beige leather; Estimate $300,000 – $375,000; Older restoration, 2- condition; Hammered Sold at $450,000 plus commission of 10.00%; Final Price $495,000. With Reserve – 5-spoke alloy wheels, Michelin XWX tires, CD stereo, P/W, A/C. – Very good paint, unblemished upholstery, a little aged underhood but not in any sense ‘used’. – This was, by consensus, the best GTC/4 in the world when it sold at RM’s Monterey auction in 2012 for $181,500, barely more than the $150,000 spent on its restoration. It has not aged well since then, but that’s not apparent from the over-estimate price it brought, exactly 50% more than the low estimate. Another $150,000 would buy a decent Daytona, but then you’d have to leave the kids at home.Lot # 145 1960 Ferrari 400 Superamerica SWB Cabriolet, Body by Pinin Farina; S/N 1945SA; Engine # 1945SA; Metallic Verde Bottiglia (Bottle Green)/Red leather; Black cloth top; Estimate $6,000,000 – $7,000,000; Concours restoration, 1 condition; Hammered Sold at $5,800,000 plus commission of 10.00%; Final Price $6,380,000. With Reserve – Chrome spoke Borrani wire wheels, Pirelli Cinturato HS tires. – One of seven SWB Superamerica Cabriolets, freshly restored to concours standards in the original, and striking, color scheme. Never shown and not noted as being Ferrari Classiche certified. – The highlight of the Amelia Island auctions, a beautiful automobile in magnificent condition and visually arresting in its Bottle Green over Red leather livery, it brought an appropriate price for its style, rarity and condition, not to mention the performance of its 4-liter 340hp V-12.
RM Sotheby’s Amelia Island 2015 – Auction Report Page Two
Lot # 147 1927 Stutz AA Vertical Eight Black Hawk Speedster, Body by Robbins; S/N AAC1886501; Engine # 84675; Black/Black leather; Estimate $400,000 – $550,000; Older restoration, 2- condition; Hammered Sold at $390,000 plus commission of 10.00%; Final Price $429,000. With Reserve – Red wire wheels, blackwall tires, wooden steering wheel, folding windshield, boat tail, Twin Beam taillights, cycle fenders with leather gaiters on the front. – Restored by Harrah’s in 1963 with an appropriate but not original chassis number. Later owned by Sam Vaughn and Herbie Livingston. Re-restored in the late 90’s. CCCA Premier # 2024. Good older paint and chrome. Aged but sound upholstery. A quality old car, not fresh but very good. – Rare, too, and capable outrunning pretty much anything on American roads in 1927, that brought a price that is a tribute to its style, performance and satisfying condition.Lot # 148 1938 Delahaye 135 MS Coupe, Body by Figoni & Falaschi; S/N 60112; Engine # 60112; Ivory/Dark Red leather; Estimate $1,100,000 – $1,600,000; Concours restoration, 1 condition; Hammered Sold at $900,000 plus commission of 10.00%; Final Price $990,000. With Reserve – RHD. Rumble seat, silver wire wheels, Marchal headlights and fog lights in the front of the fenders, trafficators in the top sail panels, tri-color grille. – 1938 Paris Salon show car. Discovered in 1964 by Antoine Raffaelli who finally managed to acquire it in 1985. Restored by Conforti Freres in 1987. Acquired from the Dragone brothers in 1998 by Peter Kaus. Re-restored more recently by Tessier with consultation by Claude Figoni for John O’Quinn and essentially flawless. Great paint, interior and chrome. Chassis done like new. Recently thoroughly gone through with careful attention to function. A quality restoration and a very attractive car that looks better in person than in photos. – Sold by Bonhams in 2006 before restoration for $1,712,000, then offered by RM at Villa d’Este in 2011 with a high bid of $1,176,276 and sold at RM’s Arizona auction in 2013 from the O’Quinn estate for $1,540,000. Why it should be worth less, much less this much less, is not clear but represents an advantageous purchase for the new owner. It is a very good value.Lot # 152 1971 Lamborghini Miura SV Coupe, Body by Bertone; S/N 4884; Engine # 30642; Red, Gold sills/Blue leather, velour; Estimate $2,250,000 – $2,750,000; Recent restoration, 2+ condition; Hammered Sold at $2,100,000 plus commission of 10.00%; Final Price $2,310,000. With Reserve – Borletti A/C, Blaupunkt digital stereo, Gold alloy wheels, Pirelli HS CN12 tires, no eyebrows, body color fender minors. – The first U.S.-spec Miura SV. Restored by Gary Bobileff in the early 00’s winning its class at the 2006 Concorso Italiano. Excellent paint and striking interior. underbody and engine are like new. – A marvelous car in its original livery and powered by its original engine, specially configured for testing by EPA for U.S. type approval. Thoroughly documented by Joe Sackey and bought for an appropriate price.Lot # 153 1927 Miller 91 “Boyle Valve” Special Indy Car; S/N 5; Engine # N14; Cream, Blue frame ‘Boyle Valve Spc.’/Burgundy leather; Estimate $600,000 – $750,000; Competition restoration, 1 condition; Hammered Sold at $700,000 plus commission of 10.00%; Final Price $770,000. With Reserve – 4-wheel brakes, red wire wheels, chromed leaf spring suspension, Firestone Balloon track tires. – Miller-style frame of unknown origin, correct Miller 91 supercharged engine and Miller 3-speed transmission and new body built by Bob Willey, completed in the mid-90’s and shown at Pebble Beach, Goodwood and Meadow Brook, run regularly at the Miller Meet. Show car restoration with beautiful paint, chrome and painted graphics. Exhaust isn’t even blued. – The sole knock on this car is unrelated to its presentation, preservation of its important components or history. It’s because the only way to gaze upon the scroll shell of Miller’s centrifugal supercharger is by peering into the driver’s compartment, under the dashboard where it is hidden. The engine is a beautiful thing, as is the restoration and the car is welcome anywhere. There are more original Millers out there, but no one is likely to get a chance to buy them anytime soon and this one more than fills the bill for an afternoon at the track or quiet contemplation of Harry Miller’s masterpiece engine.Lot # 154 1967 Shelby Cobra 427 S/C Roadster; S/N CSX 3045; Blue, White stripes/Black leather; Estimate $2,200,000 – $2,500,000; Recent restoration, 2 condition; Hammered Sold at $1,925,000 plus commission of 10.00%; Final Price $2,117,500. With Reserve – Side exhausts, Halibrand 6-spoke centerlock alloy wheels, Radial T/A tires, chrome paperback rollbar, wind wings, quick jack pickups. – Excellent paint, chrome and interior. Restored like new for John Mozart in the late 80’s with several SAAC awards subsequently. Represented as 18,312 miles from new. – Sold by RM in Arizona in 2007 for $1,430,000, then again six years later in 2013 for $2,007,500. Its odometer has accumulated only 1,300 miles since 2007, hardly enough to enjoy its raucous performance, and it is a sound value at its price here.Lot # 156 2006 Aston Martin DBRS9 Sports Racer; S/N DBRS9/7; Metallic Green/Black cloth; Estimate $150,000 – $200,000; Competition car, original as-raced, 3+ condition; Hammered Sold at $155,000 plus commission of 10.00%; Final Price $170,500. No Reserve – 5935/600hp V-12, FI, sequential 6-speed, wing, diffuser, splitter, Stack instrumentation, air jacks, Forgeline modular wheels, Hoosier slicks. – Raced by Autosport Designs and others from new in SCCA World Challenge. Many performance upgrades during its life and now over 600hp and 2,800 pounds (4.7#/hp!) Clean, orderly, professional and pretty. Sounds great and runs well. – This is a real honest-to-goodness race car with abundant go-fast bits and refinements. It is unlikely that the engine could be built for the price it brought and it will be a dynamic track day driver until its historic racing eligibility puts it once again at the front of the field.Lot # 157 1954 Buick Skylark Convertible; S/N 7A1090267; Arctic White, Red wheel wells/Red, White leather; White vinyl top; Estimate $125,000 – $150,000; Older restoration, 2- condition; Hammered Sold at $110,000 plus commission of 10.00%; Final Price $121,000. No Reserve – Chrome wire wheels, whitewalls, WonderBar radio, power antenna, P/W, power seat. – Good older paint, chrome and interior. Lightly road grimy chassis. Top is aged and moderately discolored. A quality older AACA National First Prize restoration with some touring miles. – That this Skylark has survived in such good condition with 7,216 miles since the restoration is ample evidence of the restoration’s quality and the care it has received. ’54 Skylarks with their cutaway wheel wells are the most distinctive of the series; the new owner took home a quality car at a moderate price.Lot # 159 1949 Jaguar XK 120 Alloy Roadster; S/N 679902; Olive Green/Saddle pigskin; No top; Estimate $325,000 – $375,000; Modified restoration, 2- condition; Hammered Sold at $315,000 plus commission of 10.00%; Final Price $346,500. With Reserve – 3.8 engine tuned to 300 horsepower with C-type head and 2-inch SU carbs, 5-speed Borg-Warner gearbox, front disc brakes, aeroscreens, Dunlop 5-bolt wheels, bucket seats, outside fuel filler, woodrim steering wheel, driving lights, no bumpers. – A gorgeous hot rod. Very good paint, chrome and interior. Chassis frame from a ’53 coupe. Everything is done to high standards of fit, finish and function with Colorado Grand and California Mille history. – While few enough standards exist for such a comprehensively modified XK 120 the judgment of the RM Sotheby’s Amelia bidders should be accepted as conclusive evidence of the value and potential enjoyment of this Jag. It should be a delight to drive with its fully synchronized B-W gearbox.
RM Sotheby’s Amelia Island 2015 – Auction Report Page Three
Lot # 160 1988 Jaguar XJR-9 Endurance racer; S/N TWRJ12C388; Engine # 00415; White, Green ‘Castrol’/Black cloth; Estimate $3,000,000 – $5,000,000; Competition car, original as-raced, 3+ condition; Hammered Sold at $1,950,000 plus commission of 10.00%; Final Price $2,145,000. With Reserve – RHD. 5996/670hp V-12, FI, 5-speed. – 1990 Daytona 24 Hours winner, 2nd overall in 1989, podium at Sebring in 1989 and 1990. Restored in 2006. Good cosmetics. clean, orderly, as raced, with engine electronics; runs like a race car should. – This was one of the highlights of this year’s Amelia Island auctions, heavily promoted by RM in advance and prominently displayed in the preview. While it didn’t reach its pre-sale estimate, as the only surviving XJR-9 IMSA-spec racer it is difficult if not impossible to divine a value before the paddles go up in the auction. Consider it bought at the collective judgment of an informed crowd and therefore a reasonable price.Lot # 163 1934 Alvis Speed 20 SB 2-Dr. Sedan, Body by Vanden Plas; S/N 11845; Dark Olive Green/Brown leather; Estimate $150,000 – $200,000; Older restoration, 2- condition; Hammered Sold at $180,000 plus commission of 10.00%; Final Price $198,000. No Reserve – RHD. Body color wire wheels, Excelsior radial tires, Lucas tribar headlights Lucas fog lights, rear-mounted spare, trafficators, radiator stoneguard. – Offered from the estate of the late Edward Herrmann. Good paint cracked at roof joint, good older upholstery scuffed on driver’s seat bolsters. Chassis superficially done but orderly and presentable. A particularly pretty low roof body makes it an immediate attention-getter. Clean, orderly engine compartment. – This Alvis, like its late owner Ed Herrmann, is a class act with 3-Liter Bentley performance in a more attractive package. It sat on the side of RM’s lineup area on auction day and kept drawing people over to look more closely at it, it’s that appealing. Alvises don’t get as much respect as the marque’s history and the caliber of its cars warrant and this is inherently a very good value in an overlooked marque.Lot # 165 1931 Alfa Romeo 6C 1750 Gran Sport Spider, Body by Zagato; S/N 10814313; Engine # 10814313; Dark Red/Dark Red leather; Black cloth top; Estimate $2,300,000 – $2,600,000; Recent restoration, 2+ condition; Hammered Sold at $2,200,000 plus commission of 10.00%; Final Price $2,420,000. With Reserve – RHD. 1752/85hp supercharged inline six, 4-speed, black wire wheels, Michelin tires, dual rear spares, folding windshield, radiator stoneguard, Jaeger clock, tach and speedometer. – Very good Swiss restoration completed in 2009 with excellent paint, chrome and interior showing scant evidence of use or age. Shown at Pebble Beach in 2012. Better than new without being overdone. A bit troubling is the catalog’s description: ‘retains a number of original components … including the original chassis identification plate, engine number stampings, and crankcase stamping. The numbering of the Memini carburetor, front axle, rear axle housing, and CWP gear carrier also suggest that these components are original. The chassis number is stamped on both the windscreen and the hood-hinge, and body number 917 is clearly stamped on various parts of the car.” What is left out of that laundry list is pretty comprehensive. – But that is what happens to old cars. ‘Pure’ this Alfa doesn’t claim, it is still a right thing with gorgeous coachwork that should be welcomed at many events where entry is restricted. Under the circumstances it was adequately priced and should satisfy both the buyer and the seller.Lot # 167 1955 Austin-Healey 100/S Roadster; S/N AHS3504; Engine # 1B222705; Spruce Green/Green leather; Estimate $975,000 – $1,375,000; Competition restoration, 2- condition; Hammered Sold at $920,000 plus commission of 10.00%; Final Price $1,012,000. With Reserve – RHD.2660/132hp four, 4-speed, 4-wheel Dunlop disc brakes, full width Plexiglas windscreen, side outlet exhaust, silver painted wire wheels, Michelin XZX tires, outside fuel filler, woodrim steering wheel, lowered hood with leather strap, no bumpers. – The first 100/S chassis used for development by the factory, then sold to actor Jackie Cooper in Spruce Green, the only 100/S so painted by the factory. Raced at Sebring in 1955 but sidelined with electrical problems. Restored in 1990 with its original chassis, engine, gearbox and body (aside from a replaced left front fender in 1955.) Good paint and interior. Restored like new with very little subsequent use. Offered with its original Weslake head, oil cooler and spares. – The duct tape numbers, as seen at Sebring in 1955, are a delightful detail. It’s an historic car … and an historic price arcing upward at a startling rate.Lot # 170 1960 Jaguar XK 150S 3.4 Roadster; S/N T831811DN; Engine # VS 1624-9; Dark Blue/Grey leather; Dark Blue cloth top; Estimate $200,000 – $250,000; Recent restoration, 2 condition; Hammered Sold at $310,000 plus commission of 10.00%; Final Price $341,000. No Reserve – Chrome wire wheels, whitewall bias ply tires, 4-spoke steering wheel, overdrive, windshield washer, driving lights, Radiomobile radio, tool roll, owner’s manual. – Excellent paint, chrome, interior, chrome and glass done in the mid-90’s and zealously preserved. Show polished engine. Underbody is shiny and showy. A concours car judged 100 points in JCNA competition several times with only a few miles. – Not quite the ultimate XK Jaguar, that distinction being claimed by the few later 3.8 liter XK 150S models, but close enough not to make much difference. The quality and longevity of this restoration is close to amazing, although even that is hard to account for the price it brought. Maybe it was the colors? No matter what the reason, this is an expensive Jag.Lot # 178 1963 Shelby Cobra 289 Roadster; S/N CSX 2147; Guardsman Blue/Black leather; Estimate $950,000 – $1,150,000; Cosmetic restoration, 2- condition; Hammered Sold at $900,000 plus commission of 10.00%; Final Price $990,000. With Reserve – Chrome wire wheels, narrow whitewall Super Cushion tires, rack and pinion steering, grille and trunk guards, wind wings, top, side curtains (in a nifty but non-original fabric pocket behind the seats) and owner’s manuals. – Originally invoiced to Jacques Passino, as so many Cobras were for Ford Special Vehicles show and display use. Very good recent paint, chrome and interior. Chassis and underbody are older and show some miles. – This is a good, honest rack and pinion 289 Cobra that has been through several configurations before being returned to close to original condition and appearance. Who would have thought these Anglo-American hotrods would be million dollar cars? But they are and this is a representative value for an attractively and accurately presented example.Lot # 180 1953 Ferrari 212 Europa Coupe, Body by Vignale; S/N 0287EU; Engine # 0287EU; Red, Black roof/Black leather; Estimate $2,000,000 – $2,500,000; Cosmetic restoration, 3+ condition; Post-block sale at $1,409,091 plus commission of 10.00%; Final Price $1,550,000. With Reserve – Chrome spoke Borranis, Vredestein tires, Marchal headlights, Clayton heater. – Freshly cosmetically restored to good driving standards with very good paint, chrome and interior. Wiper scratched windshield, thick chrome window trim. Less attention paid to the chassis and underbody. Orderly engine compartment. Oxidized engine cam chain covers. A superficial but very shiny cosmetic redo. – Sold at the RM Sotheby’s Leggenda e Passione auction in Maranello in 2009 for $461,684 before its present cosmetic, this is a touring and event Ferrari that brought a superior price in this post-block concluded transaction for its erratic presentation. Reportedly bought by a Swiss resident who still spends money convertible to dollars at a favorable rate and headed to a restoration that it richly [sic] deserves. Importantly, this is a MM Retro eligible (and welcome) entrant, but an expensive admission ticket.Lot # 183 1972 Ferrari 365 GTB/4 Daytona Spider, Body by Pininfarina-Scaglietti; S/N 15417; Engine # 15417; Black/Brown leather, Black stripes; Black cloth top; Estimate $3,000,000 – $3,500,000; Recent restoration, 2+ condition; Hammered Sold at $3,000,000 plus commission of 10.00%; Final Price $3,300,000. With Reserve – Chrome spoke Borrani wire wheels, Michelin X blackwalls, Veglia A/C, Voxson 8-track stereo, P/W, headrest seats, books, tool kit. – Very good paint, chrome and interior. Engine compartment is like new. Restored in 2000 and preserved with little use except driving on and off show fields since. 2013 Cavallino Platinum award winner. Ferrari Classiche certified. – Sold here in 2012 for $1,210,000 with only 303 miles added to the odometer since then. A superb car that brought a superb, curve-setting, price.
RM Sotheby’s Amelia Island 2015 – Auction Report Page Four
Lot # 186 1938 Bugatti Type 57C Aravis Cabriolet; S/N 57710; Engine # 510; Dark Green, Light Green/Light Green ostrich leather; Dark Green cloth top; Estimate $2,500,000 – $3,250,000; Recent restoration, 1- condition; Hammered Sold at $2,125,000 plus commission of 10.00%; Final Price $2,337,500. With Reserve – RHD. Chrome wire wheels, Scintilla headlights, Marchal fog and driving lights, skirts, trafficators. Supercharger added. – Freshly redone by LaVine Restoration with new paint, chrome, upholstery, top and Type 57 bumpers in new and unusual colors. Engine rebuilt with a new block. Best of Show at Glenmoor in 2011. Sharp, crisp engine, chassis and underbody with one or two spots of surface rust of minor significance. – Sold by Gooding at Pebble Beach in 2006 in blue and showing 1,700 fewer kilometers on its odometer before getting its most recent comprehensive re-restoration and new colors. It is a spectacular car and is worth no less than the healthy price it brought.Lot # 187 1961 Mercedes-Benz 300SL Roadster; S/N 19804210002753; Engine # 19898010002817; Red, Red hardtop/Black leather; Black cloth top; Estimate $1,100,000 – $1,300,000; Cosmetic restoration, 3 condition; Hammered Sold at $875,000 plus commission of 10.00%; Final Price $962,500. With Reserve – AM-FM, two tops, chrome and body color wheels, whitewalls, Talbot fender mirror, two tops – Good older repaint with a few edge chips. Good upholstery. Rusty soft top frame. Body color wheelwells. Good chrome. Clean engine dropped into an unrestored engine compartment. A usable driver quality 300 SL roadster. – The difference between a superb 300SL Roadster and a merely sound driver is, at least in dollars, small, like the difference between this car’s estimate and the price it brought. The RM Sotheby’s bidders weren’t fooled by a shiny paint job and applied a big discount to this car. It less discount than the car warranted.Lot # 188 1972 Ferrari 246 GTS Dino, Body by Pininfarina-Scaglietti; S/N 04368; Red/Tan leather, Black stripes; Estimate $385,000 – $450,000; Cosmetic restoration, 3 condition; Hammered Sold at $360,000 plus commission of 10.00%; Final Price $396,000. With Reserve – CD stereo, SF shields, Cromodora alloy wheels, Firestone Affinity tires, headrest Daytona style seats, A/C, P/W. – Decent repaint, chrome and interior. Roof panel is painted glossy black. Door window pockets are filled with overspray and body shop detritus. Felt-ish dashtop covering. Old undercoat in wheelwells. Clean but unrestored engine compartment and engine. Done to a number to ride the Dino wave. – A seriously disappointing Dino for which a generous price was paid.Lot # 192 1966 Ferrari 330 GT 2+2 Series II, Body by Pininfarina; S/N 08279; Engine # 08279; Ivory/Tan leather; Estimate $400,000 – $600,000; Cosmetic restoration, 3 condition; Hammered Sold at $410,000 plus commission of 10.00%; Final Price $451,000. No Reserve – Chrome spoke Borrani wire wheels, Michelin XWX tires, P/W, Becker Mexico cassette, 4-spoke woodrim steering wheel, extra set of alloy wheels. – Very good paint, chrome and interior. Orderly but not restored engine compartment missing its fuse box cover. Old undercoat in the wheelwells. An unusual color but superficially treated. – Cataloged as ‘fully restore[d] to show standards’, a claim that applies only to the paint, chrome and interior. The engine compartment is as close to a disaster as it is possible to get without being a non-runner or having a fire. It is materially overpriced at this result.Lot # 193 2007 Ferrari 599 GTB Coupe; S/N ZFFFC60A270150345; Black/Black leather; Estimate $200,000 – $275,000; Unrestored original, 2 condition; Hammered Sold at $620,000 plus commission of 10.00%; Final Price $682,000. With Reserve – 6-speed, red calipers, SF shields, Manettino steering wheel, 20 inch one-piece alloy wheels, carbon-ceramic brakes, Bose 6-CD stereo, Daytona style seats. – One of 20 manual shift 599 GTBs delivered in the U.S. 3,800 miles from new and impeccable. – Without any doubt at all, this was the sensation of the Amelia auctions, a car that is in impeccable condition but carried a list price of just over $300,000. Someone who has driven a manual shift 599 GTB said later, ‘This gearbox was designed for electronic actuation: it’s clunky and awkward as a stick.’ What possessed anyone (who was smart or fortunate enough to have $600 Large to spend on a car) to bid double the MSRP when new just eight years ago and three times RM’s low estimate is a commentary on the money sloshing around the collector car market. This was a show-off transaction that had only one purpose: ‘My wallet is bigger than yours.’ The underbidder got a fistful of drink tickets for helping drive the price up, drinks that should celebrate avoiding a completely mindless expenditure, but a commentary on the state of the market not only for late model Ferraris but also for similar supercars. ‘Over the top’ hardly encompasses how expensive this 599 GTB was.Lot # 196 1971 Ferrari 365 GTB/4 Daytona Coupe, Body by Pininfarina-Scaglietti; S/N 14385; Burgundy/Black, Red leather; Estimate $600,000 – $750,000; Unrestored original, 4 condition; Hammered Sold at $700,000 plus commission of 10.00%; Final Price $770,000. With Reserve – Grungy Borrani wire wheels, old Goodyear Eagle tires, Voxson 8-track stereo, Veglia A/C. – One owner from new, showing 93,600 believable km on the odometer. Stored since 1989. Cracked, peeling paint, rusting chrome, sound original upholstery, dirty old worn carpets. Filthy engine and chassis. Runs, but needs comprehensive mechanical and cosmetic work before it is fit to be driven, and too far gone to be a Preservation car. – Dirt and neglect bring a premium price, but this Daytona is beyond preserving and is suitable only to be the basis of a straightforward restoration. When completed at enormous cost it will be just another restored 93,600km Daytona, albeit with an intriguing story. The $100,000+ premium it brought is money down the drain.Lot # 201 1957 Mercedes-Benz 190SL Roadster; S/N 1210407503335; Engine # 1219217503378; Grey, Red hardtop/Red leather; Grey cloth top; Estimate $175,000 – $225,000; Recent restoration, 3+ condition; Hammered Sold at $190,000 plus commission of 10.00%; Final Price $209,000. No Reserve – Becker AM-FM, hubcaps, trim rings, whitewalls, two tops, Solex carbs. – Engine compartment and inside the doors is coated in a light film of dirt-retaining preservative. Good older point, chrome and interior. Chassis redone like new. A usable driver restored in Portugal. – The fascination with 190SLs has brought cars crawling out of hiding places, through restoration shops that could find a place on quickie TV restoration shows to catch the wave. This is one of them, a car that might prove to deliver a satisfying ownership experience, but also might not. It would have been a better bet at $150,000, even in today’s hot 190SL market.Lot # 206 1961 Alfa Romeo Giulietta Spider, Body by Pininfarina; S/N AR170763; Engine # 00102 26104; Red/Black vinyl; Black cloth top; Estimate $90,000 – $110,000; Visually maintained, largely original, 3 condition; Hammered Sold at $80,000 plus commission of 10.00%; Final Price $88,000. No Reserve – Blaupunkt AM-FM, 5-speed, single downdraft Weber. – Attractive repaint with some poor masking. Good major chrome but thin windshield trim chrome. Uninspired engine compartment, rusty shift lever, old undercoat with a shiny overcoat. Pretty, but only upon first impression. – In this condition this is Veloce money for a Normale. It should have sold for $50,000 and even then would not have been inexpensive.
Oh my! How I wish I’d been there, but thanks Rick, for making it feel like I was!