Another major auction record falls at RM Sotheby’s

1939 Alfa Romeo 8C 2900B sets world record for auction price for prewar car | Larry Edsall photos
1939 Alfa Romeo 8C 2900B sets world record for auction price for prewar car | Larry Edsall photos

Records continued to fall at the collector car auctions Saturday on the Monterey Peninsula. Friday, RM Sotheby’s was the site of the highest prices ever paid for a British car and an American car sold at public auction. Saturday, an RM Sotheby’s bidder paid a record price for a prewar car when a 1939 Alfa Romeo 8C 2900B Lungo Spider sold for $19.8 million.

Observers from Hagerty, the insurance and vehicle valuation-tracking company, also reported what they called “another amazing result” as an alloy-bodied, long-wheelbase 1959 Ferrari 250 GT California Spider went for $18.5 million at Gooding & Company, which also got $13.5 million for a 1960 250 GT SWB Competizione Coupe in a post-block transaction.

However, the Hagerty report added, “A few of the big cars did miss (not selling despite strong bidding), including RM’s Cal Spider—this one a SWB car — at $9.4 million, RM’s Ferrari 268 SP race car at $12.5 million, and Gooding’s Porsche 550A roadster at $4.2 million.”

Dan Gurney's first Indy Eagle on the block Saturday at RM Sotheby's
Dan Gurney’s first Indy Eagle on the block Saturday at RM Sotheby’s

In a change from earlier in the week, “Prewar cars and cars from the 2010s saw rising sell-through rates versus the first two days,” Hagerty noted.

“At a model level, later Porsche 911s have sold low compared to their conditions, including 930s, 964s, and 993s. Early C through J series (1969-77) 911s, on the other hand, fared very well.

“C2 Corvettes recorded subpar prices, as have Mercedes-Benz 280SLs. Conversely, Ferrari Testarossas, Advanced Design Chevy pickups from 1947-55, and Maserati 3500GTs all realized strong prices relative to their conditions.”

While sales ended Saturday at RM Sotheby’s, Mecum Auctions and at Russo and Steele, Gooding continues its auction with a final day Sunday with a docket that includes a 1962 Ferrari 250 GT SWB, a 1933 Alfa Romeo 8C 2300 Monza, and a 1932 Bugatti Type 55 Roadster, among others.

In addition to the Hagerty report on the public auctions, Rick Cole Auctions reported early Sunday morning the sale of a 1957 “airbag” Chevrolet Corvette for $803,000 at its auction, which is being conducted by bidding by smartphone.

(All prices reported by Hagerty include buyer’s fees.)

Overall results from auction companies through Saturday

Cumulative total: $288.0 million
644/1,221 lots sold: 53 percent sell-through rate
Average sale price: $447,332
Median sale price: $88,000

2015 Cumulative results through Saturday
Cumulative total: $332.9 million
755/1,326 lots sold: 56 percent sell-through rate
Average sale price: $440,906
Median sale price: $89,100

Overall Top 10 sales from all auctions through Saturday

1. 1955 Jaguar D-Type Roadster (RM Sotheby’s) sold for $21,780,000
2. 1939 Alfa Romeo 8C 2900B Lungo Spider (RM Sotheby’s) sold for $19,800,000
3. 1959 Ferrari 250 GT California LWB Alloy Spider (Gooding & Company) sold for $18,150,000
4. 1962 Shelby Cobra 260 Roadster (RM Sotheby’s) sold for $13,750,000
5. 1960 Ferrari 250 GT SWB Competizione Coupe (Gooding & Company) sold for $13,500,000
6. 1956 Ferrari 250 GT TdF Coupe (RM Sotheby’s) sold for $5,720,000
7. 1950 Ferrari 166 MM Berlinetta (Gooding & Company) sold for $5,445,000
8. 1955 Ferrari 750 Monza Spider (RM Sotheby’s) sold for $5,225,000
9. 2014 Ferrari LaFerrari Coupe (Mecum Auctions) sold for $5,170,000
10. 1979 Porsche 935 Coupe (Gooding & Company) sold for $4,840,000

Results by auction company

Bonhams

Friday total: $34.1 million
99/115 lots sold: 86 percent sell-through rate
Average sale price: $344,526
Median sale price: $121,000

Top 10 Sales:
1. 1931 Bugatti Type 51 Grand Prix Roadster sold for $4,000,000
2. 2014 Ferrari LaFerrari Coupe sold for $3,685,000
3. 1904 Mercedes-Simplex 28-32HP Rear Entrance Tonneau sold for $2,805000
4. 1985 Ferrari 288 GTO Coupe sold for $2,112,000
5. 2014 McLaren P1 Coupe sold for $2,090,000
6. 1955 Lancia Aurelia B24 Spider America sold for $1,402,500
7. 1930 Duesenberg Model J Murphy Town Car sold for $1,254,000
8. 1989 Ferrari F40 Coupe sold for $1,155,000
9. 1956 Porsche 356A Carrera GS Speedster sold for $891,000
10. 1965 Shelby Cobra 289 R&P Roadster sold for $880,000

2015 Cumulative results
Total: $45.7 million
96/109 lots sold: 88 percent
Average sale price: $476,048
Median sale price: $198,000

Gooding & Company

Saturday total: $76.8 million
70/80 lots sold: 88 percent sell-through rate
Average sale price: $1,096,664
Median sale price: $330,000

Top 10 Saturday sales:
1. 1959 Ferrari 250 GT California LWB Alloy Spider sold for $18,150,000
2. 1960 Ferrari 250 GT SWB Competizione Coupe sold for $13,500,000
3. 1950 Ferrari 166 MM Berlinetta sold for $5,445,000
4. 1979 Porsche 935 Coupe sold for $4,840,000
5. 1967 Ferrari 275 GTB/4 Coupe sold for $3,245,000
6. 1971 Lamborghini Miura P400 SV Coupe sold for $2,255,000
7. 1930 Packard Speedster-Series 734 Roadster sold for $2,090,000
8. 1955 Lancia Aurelia B24 Spider America sold for $2,007,500
9. 1961 Maserati 5000GT Allemano Coupe sold for $1,677,500
10. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,430,000

2015 results through Saturday
Total: $69.5 million
63/69 lots sold: 91 percent sell through rate
Average sale price: $1,103,056
Median sale price: $462,000

Mecum

Saturday total: $33.6 million
84/199 lots sold: 42 percent sell-through rate
Average sale price: $399,542
Median sale price: $121,000

Top 10 Saturday sales:
1. 2014 Ferrari LaFerrari Coupe sold for $5,170,000
2. 1966 Ford GT40 Mk I Road Coupe sold for $4,840,000
3. 1985 Ferrari 288 GTO Coupe sold for $3,300,000
4. 2014 McLaren P1 Coupe sold for $2,035,000
5. 2005 Porsche Carrera GT Coupe sold for $1,155,000
6. 2011 Ferrari 599 SA Aperta Spider sold for $1,155,000
7. 2006 Bugatti Veyron 16.4 Coupe sold for $1,100,000
8. 1965 Shelby Cobra 289 R&P Roadster sold for $1,045,000
9. 1968 Lamborghini Miura P400 Coupe sold for $869,000
10. 2011 Ferrari 599 GTO Coupe sold for $748,000

Cumulative total: $45.8 million
294/698 lots sold: 42 percent sell-through rate
Average sale price: $155,693
Median sale price: $51,975

Overall Top 10 sales:
1. 2014 Ferrari LaFerrari Coupe sold for $5,170,000
2. 1966 Ford GT40 Mk I Road Coupe sold for $4,840,000
3. 1985 Ferrari 288 GTO Coupe sold for $3,300,000
4. 2014 McLaren P1 Coupe sold for $2,035,000
5. 2005 Porsche Carrera GT Coupe sold for $1,155,000
6. 2011 Ferrari 599 SA Aperta Spider sold for $1,155,000
7. 2006 Bugatti Veyron 16.4 Coupe sold for $1,100,000
8. 1965 Shelby Cobra 289 R&P Roadster sold for $1,045,000
9. 1968 Lamborghini Miura P400 Coupe sold for $869,000
10. 2011 Ferrari 599 GTO Coupe sold for $748,000

2015 Cumulative results
Total: $41.2 million
335/657 lots sold: 51 percent sell-through rate
Average sale price: $122,941
Median sale price: $49,500

RM Sotheby’s

Saturday total: $57.9 million
43/48 lots sold: 90 percent sell through rate
Average sale price: $1,345,523
Median sale price: $682,000

Top 10 Saturday sales:
1. 1939 Alfa Romeo 8C 2900B Lungo Spider sold for $19,800,000
2. 1956 Ferrari 250 GT TdF Coupe sold for $5,720,000
3. 1964 Ferrari 500 Superfast SI Coupe sold for $2,750,000
4. 1973 Ferrari 365 GTS/4 Daytona Spider sold for $2,475,000
5. 1957 BMW 507 Roadster sold for $2,145,000
6. 1963 Ferrari 250 GT Lusso Coupe sold for $2,090,000
7. 1934 Mercedes-Benz 500K Cabriolet A sold for $1,870,000
8. 1930 Cadillac Series 452 Fleetwood Roadster sold for $1,457,500
9. 2005 Maserati MC12 Coupe sold for $1,430,000
10. 1931 Duesenberg Model J Tourster sold for $1,320,000
10. 1957 Mercedes-Benz 300SL Roadster sold for $1,320,000
10. 1939 Bentley 4 1/4-Litre Sports Coupe sold for $1,320,000

Cumulative total: $123.1 million
85/100 lots sold: 85 percent sell-through rate
Average sale price: $1,448,565
Median sale price: $572,000

Overall Top 10 sales:
1. 1955 Jaguar D-Type Roadster sold for $21,780,000
2. 1939 Alfa Romeo 8C 2900B Lungo Spider sold for $19,800,000
3. 1962 Shelby Cobra 260 Roadster sold for $13,750,000
4. 1956 Ferrari 250 GT TdF Coupe sold for $5,720,000
5. 1955 Ferrari 750 Monza Spider sold for $5,225,000
6. 1966 Ford GT40 Mk I Road Coupe sold for $2,900,000
7. 1964 Ferrari 500 Superfast SI Coupe sold for $2,750,000
8. 1973 Ferrari 365 GTS/4 Daytona Spider sold for $2,475,000
9. 1957 BMW 507 Roadster sold for $2,145,000
10. 1963 Ferrari 250 GT Lusso Coupe sold for $2,090,000

2015 Cumulative results
Total: $167.2 million
126/149 lots sold: 85 percent sell-through rate
Average sale price: $1,328,401
Median sale price: $420,750

Russo and Steele
Saturday total: $5.8 million
30/80 lots sold: 38 percent sell-through rate
Average sale price: $192,133
Median sale price: $121,000

Top 10 Saturday sales:
1. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,155,000
2. 2004 Ford GT Pre-Production Prototype Coupe sold for $836,000
3. 2014 Mercedes-Benz SLS AMG Black Series Coupe sold for $418,000
4. 1970 Ferrari 365 GT Coupe 2+2 sold for $346,500
5. 1988 Lamborghini Countach LP5000 Quattrovalvole Coupe sold for $321,750
6. 2000 Ferrari 550 Maranello Coupe sold for $194,700
7. 1955 Facel Vega FV1 Coupe sold for $181,500
8. 1967 Jaguar E-Type SI 4.2 Roadster sold for $176,000
9. 1970 Chevrolet Corvette 350/370 Convertible sold for $159,500
10. 1967 Shelby GT500 Fastback sold for $155,100

Cumulative Total: $8.3 million
96/228 lots sold: 42 percent sell-through rate
Average sale price: $86,514
Median sale price: $45,375

Overall Top 10 sales:
1. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,155,000
2. 2004 Ford GT Pre-Production Prototype Coupe sold for $836,000
3. 2014 Mercedes-Benz SLS AMG Black Series Coupe sold for $418,000
4. 1970 Ferrari 365 GT Coupe 2+2 sold for $346,500
5. 1988 Lamborghini Countach LP5000 Quattrovalvole Coupe sold for $321,750
6. 2000 Ferrari 550 Maranello Coupe sold for $194,700
7. 1955 Facel Vega FV1 Coupe sold for $181,500
8. 1967 Jaguar E-Type SI 4.2 Roadster sold for $176,000
9. 1970 Chevrolet Corvette 350/370 Convertible sold for $159,500
10. 1967 Shelby GT500 Fastback sold for $155,100

2015 Cumulative results
Total: $8.5 million
112/209 lots sold: 54 percent sell-through rate
Average sale price: $75,920
Median sale price: $38,500

Share your comments