Auctions

Key Results From the 2018 Amelia Island Auctions

Strong sales by the sea

All eyes were on Amelia Island last month as Bonhams, Gooding and Company and RM Sotheby’s offered up several hundred collector cars for auction. The auctions coincided with the 2018 Amelia Island Concours d’Elegance, which continues to grow in strength and popularity. Which cars did well and which didn’t? Read on to find out.

Gooding & Company

Top Seller
1966 Ferrari 275 GTB, $2,530,000

Of the Amelia Island auctions this year, Gooding & Company boasted the strongest results, leading the way with $35,937,250 in sales and a 95 percent sell-through rate at its 87-vehicle auction. Some 14 of those cars sold for more than $1 million, including Gooding’s top seller, a barn-find 1966 Ferrari 275 GTB. The 275 was of the long-nose, torque-tube type and had been stored in a garage, untouched since 1991. This car sold for slightly above its low presale estimate, demonstrating that barn-find patina and new-to-market cars still drive strong sales.

Bargain Bin
1963 Alpine A110 1100, $82,500

A 1963 Alpine A110 1100 with period race history at Sebring, among other venues, sold well below its low estimate of $120,000. Alpine enthusiasts like their cars in French Racing Blue, so the yellow paint on this one might have been off-putting. Higher-displacement A110s are often somewhat more desirable.

Strong Result
1993 Porsche 964 Turbo S Leichtbau, $1,760,000

Porsches were predictably strong at Gooding & Company, the top P-car result going to the 1993 Porsche 964 Turbo S Leichtbau. It’s a sign of the times that this car, even with its exceptional condition and ultra-low mileage, outsold some of its heavy-hitting brethren, including a 1990 Porsche 962C endurance prototype race car ($1,595,000), a 2015 918 Spyder ($1,540,000), and a 1996 993 GT2 ($1,485,000). A 1974 Porsche 911 Carrera RSR 2.1 Turbo—one of the marque’s most iconic classic race cars—was not sold at a high bid of $5.4 million, continuing a theme of hesitance for some top-dollar cars that we saw in Scottsdale a few short months ago.

RM Sotheby’s

Solid Buy
1941 Chrysler Windsor sedan, $14,560

The cheapest buy of the sale and also the final lot, this 1941 Chrysler fell right in line with its presale estimate. By the time this car rolled across the block, the local time was past 9 p.m., and the sale was heading into its seventh hour, with bidders dwindling in the room. Although the car might not have been a steal in terms of its value, it was nice to see an offering that virtually anyone in the room could afford. Just don’t expect much appreciation on this one in the near future.

On the Rise
2001 Lamborghini Diablo VT 6.0 SE, $412,000

This 14-mile Diablo (yes, 14 miles on the odometer) sold for some $62,000 above estimate, a shocker. Diablos seem to be somewhat forgotten when compared to earlier Countach models, but their time seems to be arriving as more 30- and 40-somethings amass their fortunes and remember the cars that caught their young eyes.

Strong Result
1993 Porsche 911 Carrera RS 3.8, $1,655,000

The stars of the sale were undoubtedly the 11 lots contained in the “Exclusively Porsche—the 964 Collection” subgrouping, with the 1993 911 Carrera RS 3.8 blowing away its top-end estimate of $1.5 million and setting a new record for a 964 sold at public auction. Eight of the 11 Porsche 964s were hammered sold, with just three—including the 1991 Carrera Cup—not selling. Several of the Porsches were hotly contested with drawn-out bidding wars. Good entertainment!

Bonhams

Well Bought
1998 Dodge Viper GTS-R, $90,720

Just 100 of these limited-production versions of the Viper GTS coupe were built to homologate all the go-fast aero bits found on the GT2-class race cars that ran in the 24 Hours of Le Mans, among other races. With just 10,000 miles on the clock, the car nearly doubled its ridiculously low presale estimate. We think the price will look cheap in five to 10 years—these cars’ time has yet to come.

Bargain Bin
1970 Porsche 911 T, $34,720

The deal of the day might have been this 911 T converted to a competition car. The original 2.2-liter flat-six was replaced in favor of a 240-hp 2.7-liter high-compression engine, and the car was equipped with a full rollcage, uprated brakes, SC rear fenders, and Lexan windows. For just $34,720, this desirable long-hood, small-bumper 911 could be back on the track at minimal cost, though turning it back into a usable street car might break the bank.

Solid Buy
1970 Citroën SM, $33,600

A 1970 Citroën SM, one of the most unique and stylish cars of its day, brought $33,600, which felt at least $5,000 light given this car’s solid-looking condition and relative rarity (Citroën built less than 13,000 examples). You won’t find a more unusual-looking car that drives as well as the joint Citroën-Maserati SM does, and the low price paid should help defer what can be expensive running costs.

Amelia Island Auctions Sales Top 10

1. 1966 Ferrari 275 GTB Long Nose Alloy Coupe, $2,530,000
(Gooding & Company)

2. 2003 Ferrari Enzo Coupe, $2,365,000
(Gooding & Company)

3. 1966 Ferrari 275 GTB Long Nose Coupe, $2,205,000
(RM Sotheby’s)

4. 1967 Ford GT40 Mk IV Coupe, $1,925,000
(Gooding & Company)

5. 1993 Porsche 911 Turbo S Leichtbau Coupe, $1,760,000
(Gooding & Company)

6. 2015 McLaren P1 Coupe, $1,710,000
(Bonhams)

7. 1993 Porsche 911 Carrera RS 3.8 Coupe, $1,655,000
(RM Sotheby’s)

8. 1952 Ferrari 212 Europa Cabriolet, $1,600,000
(Gooding & Company)

9. 1990 Porsche 962C Race Car, $1,595,000
(Gooding & Company)

10. 2015 Porsche 918 Spyder, $1,540,000
(Gooding & Company)

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