The Market

100.0

Bonhams’ $13m 2018 Amelia Island sale

Bonhams’ $13m 2018 Amelia Island sale 9th March 2018

Playing to a well-attended house on the opening day of the 2018 Florida sales, over a seven-hour marathon auctioneers Rupert Banner and Malcolm Barber sold 85% of the motor car catalogue.

The cover star Ferrari generated bids around the $2m mark in the room and on the phones, but not enough to sell the red/black US-spec ‘Daytona’ Spider on the day. Top honours, then, went to the 2015 McLaren P1 hypercar that squeaked over the line in a post-sale deal a lot or two after the auctioneer had marked it as not sold.

At a glance:

* Gross: $12,974,970 (2017, $10,069,700)
* Percentage sold by number: 85% (2017, 84%)
* Top-selling car: 2015 McLaren P1, $1,710,000 gross, $1,550,000 net (est. $1.8m to $2.0m)
* Well sold? They had to take it halfway round the world but... finally... the 1936 Horch 853 Roadster with replica coachwork – a veteran of at least two other Bonhams sales – found a new owner at $544k all-in
* Well bought? The Lotus Mk VI that sold for $30,240 incl. premium, a lovely ‘entry-level’ road-legal racing car for mild competition

Mighty midget: good-value Lotus Mk VI
Mighty midget: good-value Lotus Mk VI
Rupert Banner takes a bid from the phones
Rupert Banner takes a bid from the phones

Over 50 per cent at No Reserve was always going to aid the Brits’ cause, but the sizeable entry of 101 cars (after three withdrawals) still needed to be sold.

It was the first outing for the 2018 Amelia Island sales’ bumper crop of Porsches. None really shone, though the special-order 1989 911 Carrera 3.2 'M491' Targa did well at $151k hammer against an estimate of $115k to $165k. That’s $169,120 including Bonhams’ new 12% sub-$250k buyer’s premium.

Several bidders fought over the Signal Orange 1970 911S 2.2 ($175k to $225k, pictured top) before it was finally hammered for $177k ($198k gross). The non-selling yellow GT2 was the same car offered by Mecum in Monterey last year at $1.6m to $1.9m.

Bid into the $2ms, the $2.4m to $2.7m 'Daytona' Spider will be going back home
Bid into the $2ms, the $2.4m to $2.7m 'Daytona' Spider will be going back home

All in all, a healthy performance, up on last year, albeit at prices that might have left less pragmatic vendors slightly disappointed.

Bonhams at Amelia Island, 8 March 2018 (2017)

Gross: $12,974,970 ($10,069,700)
Number of cars not sold: 15 (14)
Number of cars withdrawn: 3 (1)
Total number of cars: 101 (86)
Number sold: 86 (72)
Percentage cars sold by number: 85% (84%)
Percentage by value average low/high estimate: 53% (52%)
Percentage of cars met or sold below low estimate: 71% (72%)
Percentage of cars sold below avge of estimates: 85% (88%)
Percentage of cars sold met/exceeded top estimate: 10% (4%)
Average price of cars sold: $128,465 ($117,090)
Average year of cars offered: 1965 (1963)
Percentage of cars offered at No Reserve: 53% (62%)

Photos by K500