The Market

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2024 Arizona sales: Bonhams

2024 Arizona sales: Bonhams 26th January 2024

While local colossus Barrett-Jackson was into its sixth day of action, the Bond St firm was first out of the blocks at a one-day event held simultaneously with that of the only other international saleroom in town, RM Sotheby’s. The Brits grossed some $12.1m.  

Which is down on previous years, but the percentage sold by number remained at a healthy 83%, helped by nearly two thirds of the catalogue offered at No Reserve. The reason for the overlap of auctions was that the Westin Kierland Resort had another event booked for the Friday.

At a glance:

* Gross, motor cars: $12,101,520 (2023, $29,217,380)
* Percentage sold by number: 83% (2023, 82%)
* Top-selling car: 2022 Bugatti Chiron Super Sport 300+ $5,175,000 gross, $4,700,000 net (est. $5m to $5.5m)    
* Well sold? Either of the usual, minimal-history ex-Kuwait Aston Martin DB6s, both LHD and with believed original engines that achieved $268.8k (now green, manual) and $232.4k (now red, auto) all-in. Add $300k-$350k to that for a proper restoration. And cross fingers for future value
* Well bought? The 1964 Ford Galaxie 500 XL Convertible from the Maine Classic Car Museum. $96,320 is a strong price for the model, but this one showed just 99 miles on the odometer. A fantastic beast for sympathetic recommissioning in attractive Prairie Bronze

Other than the headlining new Bugatti – typical of the genre, minimal mileage since delivery to the US, hip-hop video specification black on black with orange accents – of the other big-ticket lots only the 1936 Bugatti Type 57 Atalante Sunroof Coupé sold, for a reasonable $1,380,000 against an optimistic $1.5m to $1.8m.

Neither Bonhams’ nor RM’s silver 300 SL Gullwings, both average-to-good cars, found new owners at $1.5m to $1.7m. The North American-spec, original-colour (black) 1973 Dino GTS was bought for $431,250 a figure fair to buyer and seller alike. Est. $350k to $450k.

We like Maserati Ghibli Spyders. Bonhams’ blue car (US-delivered, 4.7 engine, 5-speed manual) was nicely restored, though not in its original silver, and sold on the money for $596,250.

Despite the clash of events, Bonhams’ tent remained full for most of the day, with only some slipping away to the rivals over at The Arizona Biltmore. Neither firm had a must-see headliner, and it seems hard to believe that in years past the Bond St firm’s catalogue had included a ‘Daytona’ Spider, 275 GTB/C Le Mans car and Lightweight E-type. The world moves on.

Bonhams at the Westin Kierland Scottsdale, 25 January 2024 – results (2023)

Gross: $12,101,520 ($29,217,380)
Number of cars not sold: 14 (23)
Number of cars withdrawn: 0 (1)
Total number of cars: 84 (125)
Number sold: 70 (102)
Percentage cars sold by number: 83% (82%)
Percentage by value average low/high estimate: 51% (74%)
Percentage of cars met or sold below low estimate: 69% (47%)
Percentage of cars sold below avge of estimates: 80% (71%)
Percentage of cars sold met/exceeded top estimate: 13% (16%)
Average value of cars sold: $144,066 ($233,739)
Average year of cars offered: 1955 (1968)
Percentage of cars offered at No Reserve: 62% (47%)

All prices include buyer’s premium.

With thanks to Greg Ingold, who also provided the main photograph