Five things to take away from the 2018 Amelia Island sales

The results from this year’s Florida auctions are in. After a late night in The Lobby Bar of the Ritz Carlton, we give you our take, with five things that characterised this year's sales.

You can download all results sorted by make and model HERE.

1. First up, there's the generation gap, or an exasperated, “Pop, you’ve already got six of those!”. Enthusiasm for pre-War Americana among the older generation of collectors, if not exactly ‘as strong as ever’, still runs deep. One 1930s entry that sold for $50k over top estimate generated such a bidding war that the victor – an octogenarian – received wild whoops and frenetic applause when the hammer fell at nearly $1m. Good for him. We hope his heirs are as enthusiastic.

2. The Old World vs. the New. We’ve noticed that trade buyers from Europe are now rare sights at the big selling events in the US. Currency and market confidence are surely the reasons, with few willing to invest in stock, of which there's no lack in Europe.

3. Razzmatazz: let’s have some fun. It’s an old theme but the man at the rostrum does make a difference. He lifts the mood in the room, the spirits of his team and, ultimately we believe, prices paid. Once again, Charlie Ross at Gooding & Co leads the pack.

4. The Big Cars – or lack of them. Despite excellent sell-through rates this week, neither of the big-ticket, stand-out entries found new owners. Top-tier cars, the best-of-the-best, are selling well, but often under the radar via specialists – the antithesis of a public auction. Which will cause some head-scratching pre-Monterey, let alone Monaco in two months’ time.

5. The Porsche effect. One quarter of the 290 cars on offer was from Stuttgart. Despite fears of overload, of the $75.27m overall gross, the Porsche marque contributed $24.77m, at a sell-through by number of 89%. RM has just announced an all-Porsche sale later this year, so expect this trend to continue.

Before then, it's next stop Monaco.

2018 Amelia Island sales. RM Sotheby's, Bonhams, Gooding & Co combined (2017)

Gross: $76,500,739 ($110,283,000)
Number of cars not sold: 33 (50)
Number of cars withdrawn: 4 (2)
Total number of cars: 290 (324)
Number sold: 257 (274)
Percentage cars sold by number: 89% (85%)
Percentage by value average low/high estimate: 61% (55%)
Percentage of cars met or sold below low estimate: 68% (64%)
Percentage of cars sold below avge of estimates: 83% (83%)
Percentage of cars sold met/exceeded top estimate: 11% (8%)
Average price of cars sold: $297,668 ($402,493)
Average year of cars offered: 1967 (1966)
Percentage of cars offered at No Reserve: 57% (62%)

2018 Amelia Island sales – Top 10 cars by value

1. Gooding 1966 Ferrari 275 GTB 'Long Nose' Alloy $2,530,000
2. Gooding 2003 Ferrari Enzo $2,365,000
3. RM Sotheby's 1966 Ferrari 275 GTB 'Long Nose' $2,205,000
4. Gooding 1967 Ford Mk IV $1,925,000
5. Gooding 1993 Porsche 911 (964) Turbo S 'Leichtbau' $1,760,000
6. Bonhams 2015 McLaren P1 $1,710,000
7. RM Sotheby's 1993 Porsche 911 (964) Carrera RS 3.8 $1,655,000
8. Gooding 1952 Ferrari 212 Europa Cabriolet by Ghia $1,600,000
9. Gooding 1990 Porsche 962C $1,595,000
10. Gooding 2015 Porsche 918 Spyder $1,540,000
 

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%)

Gooding at Amelia Island, 9 March 2018 (2017)

Gross: $35,937,250 ($29,268,700)
Number of cars not sold: 4 (20)
Number of cars withdrawn: 1 (1)
Total number of cars: 87 (88)
Number sold: 83 (68)
Percentage cars sold by number: 95% (77%)
Percentage by value average low/high estimate: 60% (46%)
Percentage of cars met or sold below low estimate: 70% (79%)
Percentage of cars sold below avge of estimates: 87% (91%)
Percentage of cars sold met/exceeded top estimate: 7% (0%)
Average price of cars sold: $432,979 ($430,422)
Average year of cars offered: 1973 (1976)
Percentage of cars offered at No Reserve: 62% (47%)

RM Sotheby’s at Amelia Island, 9 March 2018 (2017)

Gross: $27,562,520 ($70,769,600)
Number of cars not sold: 15 (16)
Number of cars withdrawn: 0 (0)
Total number of cars: 102 (150)
Number sold: 87 (134)
Percentage cars sold by number: 85% (89%)
Percentage by value average low/high estimate: 66% (61%)
Percentage of cars met or sold below low estimate: 63% (51%)
Percentage of cars sold below avge of estimates: 78% (76%)
Percentage of cars sold met/exceeded top estimate: 14% (13%)
Average price of cars sold: $316,811 ($528,131)
Average year of cars offered: 1962 (1961)
Percentage of cars offered at No Reserve: 55% (71%)

Photos by K500 / Shutterstock