18 March 2016

Auction Recap: RM Sotheby's Amelia Island 2016

RM Sotheby’s held its 18th annual auction at the Ritz Carlton in Amelia Island, Fla., March 18. This sale has become one of the most anticipated events on the calendar, as Amelia Island has grown to be a world-class week-long destination for classic car enthusiasts. RM Sotheby’s docket was full of impressive cars this year, and the auction tallied $38.6M from 82 cars sold (out of 93 offered—an 88% sell-through rate). Gross totals were well off the $60.1M logged in 2015, primarily due to a much lower sales rate overall and several misses of some of the star cars.

Top seller for the day was an exceptionally well-done 1962 Ferrari 400 SWB Aerodinamico coupe that sold for $4.4M, including buyer’s premium, against a high estimate of $3.3M, showing that top quality cars continue to garner serious interest among buyers. Modern cars also did well, reversing some softness seen earlier in the week. In particular, a 1984 Ferrari 288 GTO sold for $2.585M, a 2014 Pagani Huayra sold for $2.035M, and a 1997 Porsche 911 Turbo S coupe earned $495,000.

American prewar cars also did well overall, with a 1932 Packard Twin Six-Series 905 Coupe Roadster selling for $1.21M, a 1931 Stutz DV-32 Convertible Victoria selling for $1.1M, and a 1911 Stanley Model 63 Toy Tonneau more than doubling the low estimate to trade for $286,000.

Other surprises included a crowd-pleasing 1964 Peel P50 that sold for $176,000, and a stupendous 1960 AC Ace Bristol that went for $495,000.

Overall top 10 sales:

1. 1962 Ferrari 400 Superamerica SWB Aerodynamico Coupe sold for $4,400,000
2. 1984 Ferrari 288 GTO Coupe sold for $2,585,000
3. 1968 Ferrari 330 GTS Spider sold for $2,000,000
4. 2014 Pagani Huayra Coupe sold for $2,035,000
5. 1954 Bentley R-Type Continental 4.9L Sedan sold for $1,815,000
6. 1955 Mercedes-Benz 300SL Gullwing Coupe sold for $1,265,000
7. 1932 Packard Twin Six-Series 905 Coupe Roadster sold for $1,210,000
8. 1963 Shelby Cobra 289 R&P Roadster sold for $1,155,000
9. 1931 Stutz DV-32 Convertible Victoria sold for $1,100,000
10. 1968 Chevrolet Camaro Sunoco Trans Am Sport Coupe sold for $990,000

RM Sotheby’s next auction is scheduled for May 14 in Monaco and will feature a 1951 Ferrari 340 America Barchetta, 1965 Alfa Romeo TZ-2, and a Tucker 48. The company’s next U.S. sale will take place July 30 at The Inn at St. Johns, Plymouth, Mich.

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