The Market


$3.3m for Bonhams at the Simeone Museum in 2020

$3.3m for Bonhams at the Simeone Museum in 2020 12th October 2020

After RM changed its traditional Hershey sale to an online-only, mid-November event, the Brits were the only act in town for more traditional collectors eager to snap up a bargain this fall.

It turned out to be Bonhams’ most successful sales at the venue, though sell-through-by-number, at 71%, was the lowest recorded since 2015.

At a glance:

* Gross (motor cars): $3,334,092 (2019, $1,851,080)
* Percentage sold by number: 71% (2019, 79%)
* Top-selling car: 1931 Bentley 8-Litre Tourer $885,000 gross, $800,000 net (est. $775k to $875k)
* Well sold? The sporting 1935 Mercedes-Benz 290 Cabriolet A ‘barn-find’ (pictured, top). Estimated at $175k to $225k, it was hammered at $325k, that’s $362.5k with premium
* Well bought? The Simeone sale, like RM at Hershey, is all about ‘the hobby’ – everyone who buys cars at these events goes away happy

The dusty Mercedes was offered from the Petersen Automotive Museum Vault Collection. Deep radiator apart, its coachwork by Sindelfingen would not disgrace a pre-War Alfa Romeo by Touring. While interest in its stolid relations has slackened, the strong price proves there is still an appetite for rarer and racier pre-War Mercedes.

Bonhams at the Simeone Museum, 11 October 2020 – Results (2019)

Total gross cars: $3,334,092 ($1,851,080)
Number of cars not sold: 17 (10)
Number of cars withdrawn: 2 (3)
Total number of cars: 58 (48)
Number sold: 41 (38)
Percentage cars sold by number: 71% (79%)
Percentage by value average low/high estimate: 61% (46%)
Percentage of cars sold below low estimate: 56% (71%)
Percentage of cars sold not met avge of estimates: 80% (84%)
Percentage of cars sold met/exceeded top estimate: 17% (11%)
Average value of cars sold: $81,319 ($48,713)
Average year of cars offered: 1952 (1951)
Percentage of cars offered at No Reserve: 29% (60%)

Photos by Bonhams