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Record Breaking £58M in Sales for RM Sotheby’s Amelia Island Auction


RM Sotheby’s Amelia Island Auction Sets Records

RM Sotheby’s, the world’s largest auction house for investment-quality vehicles, reinforced its clear market leadership this past weekend by generating an outstanding £58 million in sales with 90 percent of all lots sold at its 19th annual Amelia Island Concours d’Elegance sale. A new benchmark for an Amelia Island auction, the impressive total comfortably exceeds the combined tally of all the other auctions held during this year’s Amelia Island weekend.

“We’re thrilled with the results from this weekend’s Amelia Island sale,” comments Gord Duff, Auction Manager, RM Sotheby’s. “Not only was it our best ever Amelia Island performance, but the highest tally in Amelia Island auction history. The calibre of entries our team secured for this year’s event was second-to-none, as reflected in the positive feedback from collectors and media alike during preview, as well as the multiple bidding contests that filled the auction room during both sale sessions. We’re proud to have once again raised the bar, and look forward to continuing the momentum as we move into the busy Spring / Summer auction season.”

RM Sotheby's Amelia Island - 1929 Stutz Model M Supercharged Coupe

The record-setting 1929 Stutz Model M Supercharged Coupe (credit – Dirk de Jager © 2016 courtesy RM Sotheby’s)

1937 Bugatti and 1929 Stutz Top Lots

Leading RM’s string of 19 individual million-dollar-plus sales and claiming top honours of the 2017 Amelia Island auctions was a striking 1937 Bugatti Type 57S Cabriolet, one of only three examples sporting rare coachwork by Vanvooren of Paris. Offered for public sale for the first time in its 80-year history, the highly original Type 57S sparkled under the auction lights during Saturday’s sale session, commanding $7,700,000 (£6,297,538). Just moments prior to the Bugatti’s sale, a well-known 1929 Stutz Model M Supercharged Coupe, one of only three supercharged Stutzes in existence, proved demand remains strong for great American Classics at auction, selling for $1,705,000 (£1,394,455) against a pre-sale estimate of $1-1.2 million (817-981K). The strong sales price represents a new record for a Stutz at auction.

RM Sotheby's Amelia Island - Orin Smith Collection

A glimpse at some of the automobiles of the Orin Smith Collection (credit – Darin Schnabel © 2016 courtesy RM Sotheby’s)

Orin Smith Collection Packs the Room

Friday’s sale session was also one for the books, with the Orin Smith Collection generating £25 million in sales with a 100 percent sell-through. The sale represented the first-time RM has hosted a Friday evening sale at Amelia, and provided a fitting tribute to a man beloved by the Amelia crowd, drawing a packed sales room.

RM Sotheby's Amelia Island - 1956 Maserati A6G-54 Frua Coupe Series III

The subject of one of the weekend’s most exciting bidding contests, the 1956 Maserati A6G/54 Frua Coupe Series III (credit – Dirk de Jager © 2017 courtesy RM Sotheby’s)

The power of ‘no reserve’ exhibited at Friday’s Orin Smith Collection sale was witnessed again on Saturday with strong results achieved for a well-known private collection of 10 sporting cars. Highlighting the group, a dramatic two-tone red and black 1956 Maserati A6G/54 Frua Coupe Series III, much-admired by enthusiasts during preview, provided one of the most intense and lively bidding contests of the weekend, eventually selling for $2,365,000 (£1,934,253) against a pre-sale estimate of $1.6-2.2 million (£1.3-1.8 million). From the same collection, a 1974 Porsche 911 Carrera RS 3.0 eclipsed its pre-sale estimate of $900,000 – $1.1 million (£736K-900K) to storm into the record books at a final $1,375,000 (£1,124,560) (an auction record for the model). Also, commanding strong bids were a spectacular 1954 Mercedes-Benz 300 SL Gullwing, which sold for $1,358,500 (£1,111,065), and a stunning 1955 Alfa Romeo 1900C SS Coupe, which brought in $1,100,000 (£899,648).

RM Sotheby's Amelia Island - Mike Tyson's Ferrari F50

Ex-boxer Mike Tyson’s Ferrari F50 takes centerstage at RM’s 2017 Amelia Island sale (credit – Dirk de Jager © 2017 courtesy RM Sotheby’s)

RM Amelia Island Top 10 Sales:

  1. Lot 232 – 1937 Bugatti Type 57S Cabriolet (Chassis 57513) $7,700,000 (£6,297,538)
  2. Lot 218 – 1995 Ferrari F50 (Chassis ZFFTG46A0S0104220) $2,640,000 (£2,159,155)
  3. Lot 260 – 1956 Maserati A6G/54 Coupe Series III (Chassis 2181) $2,365,000 (£1,934,243)
  4. Lot 163 – 1936 Lancia Astura Cabriolet Series III “Tipo Bocca” (Chassis 33-5313) 2,145,000 (£2,145,000)
  5. Lot 263 – 1964 Ferrari 275 GTB (Chassis 06681) $1,842,500 (£1,506,910)
  6. Lot 139 – 1966 Aston Martin Short-Chassis Volante (Chassis DB5C/2301/L) $1,705,000 (£1,394,454)
  7. Lot 231 – 1929 Stutz Model M Supercharged Coupe (Chassis M-C-31312) $1,705,000 (£1,394,454)
  8. Lot 123 – 1956 Bentley S1 Continental Drophead Coupe (Chassis BC22LBG) $1,683,000 (£1,376,461)
  9. Lot 276 – 2012 Bugatti Veyron 16.4 Grand Sport (Chassis VF9SK2C25CM795051) $1,650,000 (£1,349,472)
  10. Lot 122 – 1953 Fiat 8V Supersonic (Chassis 106 000049) $1,375,000 (£1,124,560)

About the Author: Tim Hutton has been involved in the automotive industry for 17 years, creating ideas and content for premium brands. When not writing about cars, you will find him driving them all around the world. Having learned to drive at seven in a racing car, petrol is very much in his veins.

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The post Record Breaking £58M in Sales for RM Sotheby’s Amelia Island Auction appeared first on Appreciating Assets.



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Record Breaking £58M in Sales for RM Sotheby’s Amelia Island Auction

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