Bonhams’ $25m Scottsdale sale: Porsche 550A Spyder sells for $5.17m

The Brits demonstrated once again the strength of their North American operation by selling 85% of their Scottsdale catalogue in a marathon auction that lasted over seven hours.

The effort was worth it: all the big lots bar the Ferrari 275 GTB/4 were got away on the day. Significantly, both the ‘Daytona’ Spider and Porsche 550A that had been unsuccessfully offered at auction before found new homes only hours ago.

At a glance:

* Gross: $25,201,400 (2017: $36,493,920)
* Percentage sold by number: 86% (2017: 83%)
* Top-selling car: 1958 Porsche 550A Spyder, $5,170,000 gross, $4,700,000 hammer (est. $4.5m to $5.5m)
* Well sold? Carroll Shelby’s personal 2006 Ford GT for $489.5k gross (est. $300k to $350k)
* Well bought? 1976 Ferrari 308 Vetroresina for $140.25k all-in (est. $200k to $250k)

Perhaps it was the appeal of the complimentary breakfast buffet, but the Bonhams tent was a hive of activity as the doors opened at 09:00. Auctioneers James Knight and Rupert Banner were joined on the rostrum by press man Jared Zaugg who introduced the cars. It worked well and, as was also the case at RM, the allure of snapping up a bargain at No Reserve worked its magic.

The ‘Daytona’ Spider, F40, Dino 246 GT and 275 GTB/4 were all from one collection. The four-cam was bid into the low $2ms and may well be moved on post-sale.

The stunning Mercedes-Benz 300 SL Roadster sold just under its lower estimate of $1.4m. Speaking to Mark Allin, a former Paul Russell man who’d carried out the restoration, we learnt that the market appreciates a good colour rather than the original colour – in this case bright red. At $1.5m, someone bought a fine car, wanting for nothing.

The Lancia 037 Rally Stradale proved a popular entry and sold for big money: $451k with premium, near top estimate.

The Bond St team can afford to have a day off tomorrow – they’ve only got to do it all again with a massive catalogue at Paris Rétromobile in a couple of weeks’ time.

Bonhams at Scottsdale, 18 January 2018 (2017) – Results

Gross: $25,201,400 ($36,493,920)
Total number of cars: 109 (105)
Percentage cars sold by number: 86% (83%)
Percentage by value average low/high estimate: 64% (62%)
Percentage of cars met or sold below low estimate: 67% (77%)
Percentage of cars sold below avge of estimates: 83% (91%)
Percentage of cars sold met/exceeded top estimate: 12% (6%)
Average price of cars sold: $231,206 ($347,561)
Average year of cars offered: 1971 (1966)
Percentage of cars offered at No Reserve: 65% (60%)

With special thanks to Harley E Cluxton IV of Hammer Price

Photos by K500