Highlights from Arizona Auction Week 2016

Author:: Old Cars Weekly
Publish date:: Feb 2, 2016

RM Sotheby’s 2016 Arizona sale at the Arizona Biltmore in Phoenix.

RM Sotheby's sale saw $62.8 million in total sales and 85 percent of all lots sold. The event was headlined by the 1937 Mercedes-Benz 540 K Special Roadster, which achieved $9.9 million to set a new record for the most expensive car to ever sell at Arizona auction week.

“We are thrilled with the sales result from this week’s Arizona auction. Though we did not witness significant price increases, we were very encouraged to see the strong sell-through rate, which indicates continued interest in the hobby,” said Ian Kelleher, managing director of RM Sotheby’s West Coast Division. “There remains a healthy appetite for high-quality, fresh-to-market consignments, and with this week’s results on par with the strong success of last year’s Arizona sale, we expect continued interest, attendance and participation at our upcoming events.”

RM Sotheby's top sales at the Arizona Biltmore in Phoenix

1937 Mercedes-Benz 540 K Special Roadster (Chassis 130894) $9,900,000

1929 Duesenberg Model J Disappearing Top Torpedo Convertible Coupe (Chassis 2199) - $3,000,000

1965 Shelby 427 Competition Cobra (Chassis CSX 3010) - $2,255,000

1965 Ferrari 275 GTB (Chassis 07053) - $2,117,500

1971 Lamborghini Miura P400 SV (Chassis 4912) - $2,000,000

1965 Ferrari 275 GTS (Chassis 07935) - $1,760,000

1960 Ferrari 250 GT Cabriolet Series II (Chassis 2153 GT) - $1,650,000

2015 Porsche 918 Spyder (Chassis WP0CA2A13FS800804) - $1,595,000

1962 Maserati 5000 GT Coupe (Chassis AM103 040) - $1,540,000

1953 Cadillac Series 62 Coupe (Chassis 536253053) - $1,430,000

Results are listed in USD and are inclusive of 10 percent buyer’s premium for automobiles and 15 percent for nostalgia and include post-auction private sales. Results can also be found online atwww.rmsothebys.com.

Gooding & Company’s Scottsdale Auction tops $43 million

Gooding and Co. sold 97 of 113 lots for an 86% sales rate, which resulted in an average price of $443,412 per car sold. Highlights were plentiful, especially surrounding the Ferrari, Bugatti and Alfa Romeo marques. The top sale was the coach-built 1950 Ferrari 166 MM/195 S Berlinetta Le Mans at $6,490,000.

“We were thrilled to set some new world records for exceptional cars at this weekend’s auctions," said David Gooding, President and founder of Gooding & Company. “The demand in the market is definitely high for cars that are the best of their category and never before offered such as the Ferrari 166/195 S Berlinetta Le Mans, the Ferrari 330 GTC Speciale and the Bugatti Type 49. Further impressive results were illustrated by the Ferrari Enzo, the Ferrari F50 and the 1966 Jaguar E-Type. We are seeing collectors pay a premium for cars that are unique because of history, condition and provenance.”

Demand for Ferraris continues to rise, with the most spectacular lot of the weekend being the 1950 Ferrari 166 MM/195 S Berlinetta Le Mans. One of only six examples of the Berlinetta Le Mans, this Ferrari was campaigned in important races by the factory and displayed by Luigi Chinetti at the 1950 Paris Auto Salon. The hammer finally dropped at $6,490,000. A1967 Ferrari 330 GTC Speciale reached a final price of $3,410,000.

Gooding & Company's top sales in Scottsdale

1950 Ferrari 166 MM/195 S Berlinetta Le Mans sold for $6,490,000

1967 Ferrari 330 GTC Speciale sold for $3,410,000

2003 Ferrari Enzo sold for $2,860,000

1929 Duesenberg Model J Dual Cowl Phaeton sold for $2,420,000

1995 Ferrari F50 sold for $2,400,000

1990 Ferrari F40 sold for $1,534,500

1959 Mercedes-Benz 300 SL Roadster sold for $1,155,000

1955 Bentley R-Type Continental Fastback, sold for $1,017,500

1948 Alfa Romeo 6C 2500 Super Sport Cabriolet sold for $1,012,000

1955 Alfa Romeo 1900C SS Coupe Speciale, sold for $990,000

RECORD ATTENDANCE AND STRONG SELL-THROUGH RATE HIGHLIGHT BONHAMS’ SCOTTSDALE AUCTION

Bonhams’ fifth annual sale at the Westin-Kierland Resort & Spa in sunny Scottsdale Jan. 28 saw throngs of people grace the green lawns and auction tent. The sale did not disappoint with an 84% sell-through rate resulting in over $18 million in total sales.

The 2015 McLaren P1 was offered near the beginning of the sale and quickly rose to achieve a new world auction record for the model when it was bought by a young American family for $2,090,000.

“What we saw this year in Scottsdale was that the ‘best-in-class’ cars are attracting strong interest," said Bonhams’ US Head of Motoring, Jakob Greisen. "We sold a lot of very good cars across a broad spectrum and collectors are responding to prime examples that are sensitively priced.”

Bonham's top sales in Scottsdale

2015 McLaren P1 Coupe - $2,090,000

1962 Mercedes-Benz 300SL Roadster - $1,485,000

1971 Ferrari 365 GTB/4 Daytona Coupe - $1,155,000

1928 Mercedes-Benz 630K La Baule Transformable - $973,500

1935 Hispano Suiza K6 Cabriolet - $869,000

1964 Aston Martin DB5 Saloon - $781,000

1962 Porsche Carrera 2 GS Coupe - $627,000

1973 Porsche 911 Carrera RS 2.7 Coupe - $525,000

1955 Aston Martin DB2/4 Mk II Drop Head Coupe - $396,000

1973 BMW 3.0CSL Batmobile Coupe - $341,000

For more information, visit bonhams.com/scottsdale. To learn more about the upcoming Bonhams Amelia Island Auction set for March 10, go to bonhams.com/amelia.

Following a spirited and high energy week as a major central component of Scottsdale, Arizona’s world renowned classic car week events, Russo and Steele Collector Automobile Auctions announced incredible sales results with totals reaching $20.7 Million on 723 lots offered with 520 hammering sold. This represents an impressive sell through rate of 72% helping the auction company’s Scottsdale numbers grow double digit percentages over 2015’s results with a 7 figure overall improvement in sales.

Next, Russo and Steele sets its sight on its return to California for its 4th annual Newport Beach auction June 10-12 and 16th annual Monterey Auction August 18-20.

Visit Russo & Steele to learn more.