Barn Finds Take Amelia Auction By Storm
The weather was sunny and in the low 70s on Sunday morning, perfect for a concours. But a forecast of rain for Sunday had prompted switching the Amelia Island Concours d’ Elegance to Saturday, and as a result, both the Gooding & Company and RM Sotheby’s auctions took place on Friday, the day after the Bonhams sale. The rain never came.
Going into the weekend, there had been much buzz around two much-publicized “barn finds,” or more accurately, cars that had been evicted from a condemned garage earlier this year, a 1966 Ferrari 275 GTB long-nose alloy coupe and a 1966 Shelby Cobra 427 Roadster. Both were sold by Gooding & Company, the Ferrari being the top seller at $2,530,000 (including premium), right at the low end of the $2.5M-$3.25M pre-sale estimate. It was also the highest sale for the weekend. By coincidence, RM Sotheby’s top sale was a 1966 Ferrari 275 GTB/4 long-nose steel-body for $2,205,000.
1966 Ferrari 275 GTB Long Nose Alloy
Cobra Crazy at the 2018 Amelia Island Auctions
The garage-find Cobra 427 sold for $1,045,000 – also right at the low end of its $1M-1.3M pre-sale estimate. The Cobra was one of 100 or so of the “427” models equipped with Ford’s milder 428 Police Interceptor engine rather than the higher-revving Le Mans- and NASCAR-winning 427. Gooding also sold a 1963 Cobra 289 for the same amount, and another 427 model (with the genuine 427 engine) for $1,457,500.
Bonhams’ top sale was on Premier’s “Cars to Watch” list, a 2015 McLaren P1, selling for $1,710,000. Gooding also sold a hybrid supercar, a 2015 Porsche 918 Spyder, for $1,540,000.
Some higher-priced cars were offered but did not sell: the 1956 Ferrari 410 Superamerica from Gooding & Company was bid to $3.9M, short of the $5M low estimate. As of Sunday, the car was listed on the “Make an Offer” page for an asking price of $4.4M. Also at Gooding, bidding on a 1974 Porsche 911 RSR 2.1 Turbo reached $5.4M but the car went unsold. This historic Porsche racecar, the last of four built, took second at the 1974 24 Hours of Le Mans. The pre-sale estimate was $6M-$8M.
Image Source: RM Sotheby Auction (journal.classiccars.com)
There were numerous other intriguing 911s available over the weekend, many of them yellow. Gooding sold a 1993 Porsche 911 Turbo S Leichtbau for $1.76M, a 1996 911 GT2 for $1.485M and a 1976 934 – the race version of the 930 Turbo – for $1.32M. At RM Sotheby’s, a 1993 911 Carrera RS 3.8 in Speed Yellow brought $1,655,000.
Premier’s Previews: How’d They Do?
Premier previewed five Amelia Island cars in depth before the auctions. Here’s a look at the results. (Prices include buyer’s premium.)
1956 Ferrari 410 Superamerica (Gooding & Company) was still listed as available on Sunday with a $4.4M asking price.
Image Source: 1956 Ferrari 410 Superamerica Series I Coupe (goodingco.com)
1965 Maserati Sebring (Bonhams) sold for $248,640 vs. a $275,000- $325,000 pre-sale estimate
Image Source: 1965 Maserati Sebring II (bonhams.com)
1956 Mercedes-Benz 190 SL (RM Sotheby’s) sold for $137,200 – not far off Hagerty’s $142,000 valuation for #2 “Excellent” condition.
Image Source: 1956 Mercedes-Benz 190 SL (rmsothebys.com)
1962 Aston Martin DB4 (RM Sotheby’s) sold for $765,000 vs. $785,000 Hagerty estimate for #1 concours condition.
Image Source: 1962 Aston Martin DB4 Series IV (rmsothebys.com)
Results of our Cars to Watch at the 2018 Amelia Island Auctions
Gooding & Company
West Coast Sales Manager Juan Garcia couldn’t take his mind off of the 2011 Porsche GT2 RS (lot 13) whichi sold for $539,000 vs. $500,000-$600,000 pre-sale estimate. Less than 800 miles and one of only 142 shipped to the U.S.
Southwest Sales Manager Michelle Yancey was excited about the 1999 Lamborghini Diablo VT, selling for $214,500 vs. $200,000-$250,000 pre-sale estimate. One of about 100 VTs built for 1999, with 8,000 miles from new.
With classic lines flowing so elegantly along the body, it makes sense that the 1958 Mercedes-Benz 300 SL Roadster (lot 26) grabbed our Midwest Sales Manager, Kyle Lane’s attention. It sold for $1,072,500 vs. $1,000,00o-$1,250,000 pre-sale estimate.
1960 Bentley Continental S2 Drophead Coupe (lot 20) is drop-dead gorgeous according to our Southeast Sales Manager Chris Warren. This Bentley sold for $214,500 vs. $250,000-$280,000 estimate. One of 65 made.
Premier’s Northeast Sales Manager, Keith Neelans, is a fan of the 1952 Jaguar XK120 (lot 14) sold for $93,500 vs. $120,000-$150,000 estimate. A fastidiously maintained, unrestored example.
Premier’s corporate headquarters selected the 1958 Mercedes 300 D “Adenauer” (lot 45) which was withdrawn from the auction.
Image Source: 1952 Jaguar XK120 (goodingco.com)
RM Sotheby’s
Our Northeast Sales Manager Keith Neelans was watching the 1962 Aston Martin DB4 Series IV (lot 154). It sold for $765,000.
Michelle Yancey, Premier’s Midwest Sales Manager, had her eyes on the 1988 Ferrari Testarossa (lot 192) which sold for $168,000.
Southwest Sales Manager Chris Warren watched the 2015 Ferrari 458 Speciale (lot 124) sell for $379,000. Just 620 miles from new.
Solid engineering and the understated styling of the 1941 Chrysler Windsor Sedan (lot 207) grabbed the attention of our Midwest Sales Manager Kyle Lane. This Chrysler sold for $14,560 — a bargain weekend classic cruiser.
Juan Garcia, Premier’s West Coast Sales Manager had a favorite at RM Sotheby’s, the 1966 Ferrari 275 GTB sold for $2.205M. One of only 58 with the desirable combination of the six-carburetor V12 in a long-nose steel body.
Premier’s corporate headquarters in Woodbury, Connecticut was excited about the 1969 Porsche 912 (lot 198) which sold for $67,200. The entry-level 4-cylinder sibling of the 911 was in exceptionally original condition with less than 24,600 miles.
Image Source: 1966 Ferrari 275 GTB (rmsothebys.com)
Bonhams
Premier’s West Coast Sales Manager Juan Garcia’s auction choice was the 2015 McLaren P1 (lot 164) which sold for $1.71M. One of the first hybrid-powered supercars, along with the Porsche 918 and LaFerrari.
Keith Neelans, Premier’s Northeast Sales Manager, is a fan of the 1957 Porsche 356A Speedster (lot 113) which sold for $445,000. This one received a painstaking restoration spanning over three years.
Southwest Sales Manager Michelle Yancey admires the classic styling of the 1965 Porsche 911 (lot 110) sold for $207,000. First-year model first owned by Porsche dealer and racer Bob Holbert.
Chris Warren, Premier’s Southwest Sales Manager, was looking forward to the bidding on the 1973 Ferrari 365 GTS/4 Daytona Spider which was bid to $2.2M but did not sell. Pre-sale estimate was $2.4M-$2.7M.
Midwest Sales Manager Kyle Lane kept a close eye on the highly original 1987 Mercedes-Benz 560 SL (lot 106) selling for $39,200 — in line with Hagerty valuation of $38,400 for #2 “Excellent” condition.
Premier’s corporate headquarters watched closely as the 1970 Citroen SM (lot 107) sold for $33,600 (Hagerty shows $36,000 valuation for #3 “Good” condition). Not a U.S. model, this SM was sold new in Switzerland.
Image Source: 1965 Porsche 911 (bonhams.com)
Written by Jim Koscs, Audamotive Communications
For Premier Financial Services