Bonhams’ 2016 Revival sale: what you need to know

By Steve Wakefield

31st August 2016

Once the backdrop for record-breaking sales such as the ex-Fangio Mercedes W196 Grand Prix racer, in recent years some of the gloss has faded from Bonhams’ Goodwood auctions. In June the Festival grossed £6.6m at a sell-through of just 56%, while last September’s Revival totalled £11.7m at 63% – down from £15.1m/70% in 2014.

Next week’s auction looks like this:

• 86 cars, worth £19m at mid-estimate
• ‘Unrestored’ 1956 Porsche 550 RS Spyder from a well-known US/UK collection headlines the sale
• Sole significant Ferrari is 1965 RHD 275 GTB at £1.1m to £1.5m ($1.4m to $2m)

Fresh from a respectable ($34.6m) foray to Monterey, where a high proportion of ‘No Reserve’ lots at Quail Lodge boosted the percentage sold to a market-leading 88%, auctioneer James Knight and the Bond St boys will be working furiously behind the scenes at Goodwood.

Lovely period shot of the 550 RS - everyone's idea of an American Porsche

Big estimate makes 'distinctive' Aston a brave choice for double good 2.7 RS Lightweight money

Until a couple of weeks ago, it looked as though the ugly duckling Aston Martin 2-Litre Speed Model ‘Red Dragon’ would lead the way for Bonhams at the Revival. It receives a whopping 20+ pages in the auction catalogue – more than the 250 GTO at Quail Lodge two years ago. And its estimate of £1.6m to £2.0m is not for the faint-hearted – although £1m less than paid for the ex-Works Ulster when its owner really hit the jackpot at the 2015 Festival sale.

The Porsche 550 RS (pictured, top) is a more saleable proposition, billed as “a real time warp, and likely the last one left in such excellent, original condition”. It was judged by Simon at Pebble Beach in 2010, winning the FIVA award for originality, but has no real racing history. Bonhams’ estimate of £4.7m to £6.2m equals $6.9m with premium if sold at low estimate – a huge price considering the auction record stands at $5.35m paid for Jerry Seinfeld’s superb blue car earlier this year, and that RM sold a decent 550 Spyder for $3m in Paris last February.

Ex-Salvadori Frazer Nash a piece of British motor racing history

Market barometer 275 GTB - will it be 'Fair' or 'Change' after Goodwood?

RM selling Jack Boxstrom’s silver/red 275 GTB for $1,732,500 at Monterey 2016 makes an interesting marker for Bonhams’ red/beige example. Both triple-carb, short-nose cars with Ferrari Classiche red book, the British one comes out at a similar price with premium – nearly a third off the heights of 2014, where similar spec 275 GTBs were approaching $3m.

We’ll be following the ex-Salvadori 1950 Frazer Nash Le Mans Replica (£580k to £640k, a ‘must try’ for any collector) and the 1964 Aston Martin DB5 (£450k to £550k, a sensible estimate for a little-used car in green/fawn). Look out for the smart 1955 Jaguar Mk VII M, (below) a car maintained by marque expert CKL with a “believed genuine” 8800 miles on the clock and three owners from new: yours for £45k to £55k.