IT’S A WRAP

The Ital­ian author­i­ties which had im­pounded one ob­sessed col­lec­tor’s hoard, were amaz­ing. The top price paid at the auc­tion was €3.416M for the al­loy-bod­ied 1966 Fer­rari 275 GTB/6C, which had a pre­sale es­ti­mate of €2.4M–2.8M. It is be­lieved that it was bo

New Zealand Classic Car - - INTERNATIONAL MARKET REPORT - May­hem

Clas­sic car auc­tions in 2016 fin­ished with a huge ex­trav­a­ganza wor­thy of the Syd­ney New Year’s Eve fire­work dis­play. The re­sult of the RM Sotheby’s Duemila Ruote (Ital­ian for ‘two-thou­sand wheels’) auc­tion must have shocked the com­pany al­most as much as it did the rest of the clas­sic car world. When the dust set­tled af­ter 30 hours’ auc­tion­eer­ing over three fre­netic days, €51.26M in sales had been made — that is over NZ$76.16M! Of that, €47.67M was for cars alone, with the ‘odd change’ made up of sales of bikes, bob­sleds, and boats. Some 91 per cent of the lots sold for above the up­per es­ti­mates, as over 10,000 reg­is­tered bid­ders at­tempted to snap up a bar­gain at the no-re­serve sale.

The mar­ket­ing and or­ga­ni­za­tion of this ex­trav­a­ganza by RM Sotheby’s, on be­half of It was mad­ness in Mi­lan in packed rooms as in-per­son, in­ter­net, and phone bid­ders fran­ti­cally fought over the 423 cars on of­fer, all of which were sold. Of those 423, just 12 went for be­low their low-end es­ti­mate, while 385 sold above their top-end es­ti­mate. In to­tal, there were 817 lots on of­fer, and I am pretty sure that ev­ery­thing found a new home with bid­ders from 57 coun­tries, in­clud­ing emerg­ing mar­kets such as Rus­sia, Brazil, Turkey, the Mid­dle East, and Asia. As well as the cars, there were also 155 mo­tor­bikes, a pelo­ton of 140 bi­cy­cles, and an ar­mada of 55 boats on of­fer in 11 ware­houses cov­er­ing over 18,580m2, which, to give you an idea, is equiv­a­lent to about the size of 71 ten­nis courts! Even I got caught up in the may­hem, and treated my­self to an early Christ­mas present, pay­ing over the es­ti­mate for some­thing that needs a to­tal — and I mean to­tal — restora­tion!

And then, to cap it all, and to show that it is not just a money-grab­bing out­fit, the same auc­tion house went in to bat for a char­i­ta­ble cause the fol­low­ing week­end at Day­tona Beach in Florida. Join­ing forces with Fer­rari, RM Sotheby’s raised US$7M for a

Lo­cal suc­cess

On the same day, in an­other area to have had re­cent earth­quake is­sues, though thank­fully not on the same devastating scale, Moss­green-webb’s firmly es­tab­lished it­self in the do­mes­tic auc­tion scene with the 100-per-cent suc­cess­ful sale of the Roy Sav­age Col­lec­tion of Clas­sic Cars at Para­pa­raumu. All 30 cars sold, many above their top-end es­ti­mate, with the high­est win­ning bid of $258,750 be­ing paid for the 1955 Jaguar XK140 fixed­head coupé, which car­ried an es­ti­mate of $120K–$140K. The sale achieved 138 per cent by value, with many in­ter­na­tional bid­ders on the phone and in­ter­net, while the crowd of 350 peo­ple in the room ap­plauded the sale of each lot, with a por­tion of the auc­tion pro­ceeds be­ing do­nated to the Life Ed­u­ca­tion Trust char­ity.

This fol­lowed on from the pre­vi­ous week­end in Mel­bourne, when Moss­green held the most suc­cess­ful sale by dol­lar value in the south­ern hemi­sphere for 2016, set­ting sev­eral records along the way, in­clud­ing the high­est price paid for a Dino at auc­tion in Aus­tralia — A$546,250 for a 1971 Fer­rari Dino 246 GT Ber­linetta coupé.

It looks like there is still plenty more to come in 2017. Next stop, Scotts­dale, Ari­zona.

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