The Market


Bonhams' inaugural 2021 ‘Supercars on Sunset’ sale grosses $2.3m

Bonhams' inaugural 2021 ‘Supercars on Sunset’ sale grosses $2.3m 12th April 2021

Take your pick of Hollywood metaphors, but Bonhams’ latest initiative, offering more recent supercars in a ritzy venue in Los Angeles, should be applauded. The box office takings, though, $2,266,380 gross at 39% sold by number, were not great.

The conclusion to be drawn is that perhaps ‘showroom cars’ really are best offered and sold from the showroom, unless as part of a big event such as Monterey Week when the “I saw it was cheap, I’ll use it somehow so bought it” high-rollers are in town.

At a glance:

* Gross, motor cars: $2,266,380
* Percentage sold by number: 39%
* Top-selling car: 2015 Ferrari 458 Speciale $369,900 gross, $342,500 net (est. $360k to $410k, pictured, top)

The sale-topping Ferrari had covered fewer than 2,200 miles from new and was presented in ‘NART style’ livery of white with a blue stripe and accents. With no privacy glass, it was striking but on the right side of tasteful, which is more than can be said for some of the other entries in the catalogue.

The 2016 Porsche 911 GT3 RS ordered new by TV personality Jerry Seinfeld was an attractive car with a catalogued $250k of extras and sold for $356,400 with Bonhams' surprisingly reasonable 8% buyer’s premium. It was the only lot in the sale that beat top estimate.

The market for McLaren Sennas and the more recent Ford GT is awash with low-mileage cars and based on price alone – none sold; the two red Testarossas were also priced too high. The odd-looking 2020 McLaren Elva was withdrawn prior to the event.

Bonhams Supercars on Sunset auction, Los Angeles, 10 April 2021 – results

Total gross cars: $2,266,380
Number of cars not sold: 19
Number of cars withdrawn: 1
Total number of cars: 31
Number sold: 12
Percentage cars sold by number: 39%
Percentage by value average low/high estimate: 16%
Percentage of cars sold below low estimate: 50%
Percentage of cars sold not met avge of estimates: 92%
Percentage of cars sold met/exceeded top estimate: 8%
Average age of cars offered: 2010
Average price of cars sold: $188,865
Percentage of cars offered at No Reserve: 10%

Photo by Bonhams