Simon de Burton:
n issue 153, we used this page to ponder what the world of classic auctions might have in store for 2016 – and a month later it’s looking likely that French house Artcurial is set to give its longer-standing competitors a serious run for their money if it maintains the form shown during Rétromobile, where it racked-up €56m and, of course, set a new euro/sterling price record by selling the remarkable Ferrari 335 for €32.1 million (see News).
The two-part sale also saw six other records smashed for cars as diverse as a BMW 2002 cabriolet (€62,000), a Bugatti EB110SS at €941,700 and a Facel at €500,600. Even accounting for the fact that Artcurial enjoys the benefit of being the ‘official’ Rétromobile auction house as well as the luxury of operating on home turf, its achievements in Paris were undeniably impressive – not least since its total was 21% up on last year’s, which made headlines with the high-profile Baillon barnfinds.
An estimated 3000 people packed the saleroom (many undoubtedly there just to see how the 335 fared) and watched 124 cars cross the block, around 80% of which sold. There was, inevitably, something of a gulf between the top lot and the next on the list – but the €1.4 million achieved for the runner-up 1963 Aston Martin DB4 convertible was deserved for a rare and beautifully restored car in a great colour combination.
Even rarer was a unique 1986 Ferrari Testarossa Spider (€1.2m) built for the late Gianni Agnelli to mark his taking over at Fiat. Carrying body number one, it featured the electronic Valeo clutch system fitted to some of L’Avvocato’s cars to compensate for his weak left leg, the result of an accident in his youth.
Another top seller, meanwhile, was not a car but a yacht. Moonbeam of Fife, highlighted by Dave Selby last issue, fetched €1.1 million – a bargain in anyone’s book for a truly historic, elegant boat in superb condition.
Rétromobile was not, however, monopolised by Artcurial (even if its 335 sale did make news around the world). The day before, RM Sotheby’s set out its stall in Place Vauban, kicking off by offering a 1997 Ferrari Formula 1 engine at no reserve – and selling it for a below-estimate €40,950. The rest of the sale was given over to complete cars, with 49 of 62 selling for a combined total of almost €19 million.
A rare and elegant Ferrari 400 Superamerica stole the show at €2.9 million, offered in superb condition and with the benefit of having been used on the Ferrari stand at both the Earls Court and Chicago motor shows of 1962.
Not far behind came a 1955 Porsche 550 Spyder (again an ex-show car, having been exhibited in Frankfurt when new). One of only 75 customer cars built, it was offered with a comprehensive racing history backed-up by numerous period photographs and was eventually hammered-down for a top-estimate €2.7 million.
Also just breaching the €2 million mark was a 1957 BMW 507 roadster, a dream car for lovers of originality. Sporting its factory ‘feather white’ paint and coral red interior, it was retained by the first Swiss owner for a decade before he sold it on with 50,000km on the clock. It ended up in the hands of an engineer who kept it for 43 years – noting all trips and maintenance.
Two modern Ferraris occupied fourth and fifth spots on the top-lot list, respectively a 2004 Enzo that hit a low-estimate €1.5 million (the fact that it had once been crashed may have dampened bidders’ enthusiasm) and a 1997 F50 that just crept past the post at €1.2 million.
But while Artcurial posted a stellar performance in Paris and RM Sotheby’s an impressive one, this year’s Rétromobile is probably one that Bonhams would like to forget. Despite a hefty catalogue filled with 54 motorcycles and 110 cars, it proved to be a flat sale in which only around 60% of the automobile offerings got away.
Among more than 50 cars unsold were two Ferrari Testarossas and a 512TR, indicating that the market for these might be cooling down as fast as it heated up, and five Porsche 911s of various vintages that, again, suggested supply might be overtaking demand.
Even the top lot – a 1966 Ferrari 275 GTB Berlinetta – performed relatively poorly, selling for €2.07 million (almost €500,000 short of its low estimate). The next best price trailed far behind, at €609,500 for an Aston Martin DB4, with a trio of recent Ferraris (550 Barchetta, 599 GTO and 575 Superamerica) coming in afterwards at between €451,000 and €333,500.
Among the big non-sellers were a 1962 Alfa Romeo Giulietta SZ2 Coda Tronca aerodynamic coupé, a Ferrari F40, a Porsche Carrera GT, a Lancia Aurelia B24 Spider, a Mercedes-Benz CLK GTR and an Alfa Romeo 6C Berlinetta. Had these scraped to their low estimates, they would have added €6 million to the sale total of just €13.2 million. Ordinarily, such a sum might look too large to prefix with the word ‘just’ but, compared with the amounts achieved by Artcurial and RM Sotheby’s, it seems appropriate. Let’s hope Paris was a glitch for Bonhams – and that spring sees a return to form.