The Market


Amelia Island 2020: Day one for RM Sotheby’s at the Ritz Carlton

Amelia Island 2020: Day one for RM Sotheby’s at the Ritz Carlton 6th March 2020

RM held the first part of its Amelia Island sale earlier this evening. Working on provisional figures, expect a one-day gross of $13.5m+. More than 90% of the cars found new owners.

There was a new face on the rostrum this evening: Mike Shackelton, a long-time auctioneer with the company for North American RM Auctions-branded sales. Regular man Maarten ten Holder and the rest of RM’s European team were grounded due to concerns over the coronavirus.

Shackelton’s gentle style – a slowed-down version of the traditional chant – took a little getting used to, but tonight’s figures speak for themselves: 90% sold by number, 16% beating top estimate; $13.78m provisional gross. And he completed the 61-lot auction in record time.

At a glance from on-the-day figures:

* Gross: $13,783,720
* Percentage sold by number: 90%
* Top-selling car: 2003 Ferrari Enzo $2,782,500 gross, $2,525,000 net (est. $2.75m to $3m)
* Well sold? The ‘Youngtimer’ 1990 Mercedes-Benz 560 SEC AMG 6.0 'Wide-Body' achieving $390k incl. premium. Its estimate was $220k to $260k
* Well bought? Hard to call as most cars sold near estimate and there were no clear bargains
* One to take away? The Bruce Canepa-modified Porsche 959 for $1.05m gross

Only six cars failed to find new owners on the night, the most significant being the F40. The top-selling US-spec Enzo was red, with low (fewer than 1,700) miles and went for market-correct money.

An interesting entry was the 1958 LHD Aston Martin DB Mk III (pictured, above) formerly used by 1959 Le Mans winner and American legend Carroll Shelby. Estimated at $300k to $400k the hammer finally fell at $320k, or $327k with premium.

The Saturday sale of 85 entries is probably better in depth, but this evening’s results have been an excellent start.

RM Sotheby’s at Amelia Island, 6 March 2020 – provisional

Gross: $13,783,720
Number of cars not sold: 6
Number of cars withdrawn: 0
Total number of cars: 61
Number sold: 55
Percentage of cars sold by number: 90%
Percentage of cars met or sold below low estimate: 56%
Percentage of cars sold below avge of estimates: 73%
Percentage of cars sold met/exceeded top estimate: 16%
Average price of cars sold: $250,613

Photos by K500