Five things to take away from the 2018 Paris sales

Five things to take away from the 2018 Paris sales 14th February 2018

The star car was a no-show but despite that the Rétromobile auctions produced some interesting results. Here’s our view on the market after the first serious European sales of 2018.
 
You can download all results sorted by make and model HERE.
 
1.  Home advantage. Artcurial took top honours once again despite the loss of the Bardinon Ferrari 250 P Le Mans winner. Pile ’em high (three Espadas); the biggest buyer’s premium on the block; a heaving saleroom; the singing, shouting and fairground hullabaloo – nothing put off nationalistic buyers and vendors.

2.  Romance. It’s Paris, what do you expect? Against predictions and the trend, pre-War cars performed well, surely a result of another high-quality Rétromobile attracting real connoisseurs. Bonhams’ Minervas and Artcurial’s Bugatti Atalante were a case in point.

3.  One size does not fit all. Some – the lovely Bonhams Porsche Carrera RS 2.7 Touring and RM’s special-bodied Ferrari 166 MM – might have been better placed privately, carefully presented to picked clients, rather than face the rough-and-tumble of a public auction.

4.  The beat goes on. The healthy sell-through rates seen in Arizona were maintained in Paris and up on February 2017: 80% vs. 75%. And a year on, more good cars were sold over top estimate: 20% vs. 15%. As at Scottsdale, though, the everyday went for what the auctioneer could get on the night.

5.  The threat of the new. Older cars did better than expected during Rétromobile week, but it was still a showroom-fresh, €3.32m Bugatti Chiron at RM that took top slot. And recent Porsches still found new homes, albeit at more circumspect prices.
 
Next stop Amelia Island, where Gooding joins the fray with 1960s barn-find GTs, modern Porsches and a hot-off-the-press, ex-Martini Racing 1974 Porsche RSR Turbo. Bonhams and RM have still to announce headliners. We’ll see you there.

2018 Paris Rétromobile week sales. RM Sotheby's, Bonhams, Artcurial combined (2017)

Total gross cars: €67,425,288 (€74,656,187)
Number of cars not sold: 80 (91)
Number of cars withdrawn: 5 (4)
Total number of cars: 394 (359)
Number sold: 314 (268)
Percentage cars sold by number: 80% (75%)
Percentage by value average low/high estimate: 50% (59%)
Percentage of cars met or sold below low estimate: 54% (55%)
Percentage of cars sold below avge of estimates:  71% (74%)
Percentage of cars sold met/exceeded top estimate: 20% (15%)
Average price of cars sold: €171,130 (€207,956)
Average year of cars offered: 1960 (1967)
Percentage of cars offered at No Reserve: 44% (31%)

2018 Paris Rétromobile week sales – Top 10 cars by value

1. RM 2017 Bugatti Chiron €3,323,750
2. Artcurial 1938 Bugatti Type 57C Atalante €2,836,000
3. Artcurial 2006 Ferrari FXX €2,612,000
4. Artcurial 1954 Maserati A6 GCS/53 Spyder €2,388,000
5. RM 2005 Maserati MC12 €2,001,875
6. Artcurial 1964 Porsche 904 GTS €1,828,000
7. RM 1958 BMW 507 Roadster Series II €1,776,875
8. RM 1993 Bugatti EB110 Super Sport Prototype €1,152,500
9. Artcurial 1955 Mercedes-Benz 300 SL 'Gullwing' €1,077,600
10. RM 1992 Ferrari F40 €933,125


RM Sotheby's in Paris, 7 February 2018 – Results (2017)

Total gross cars: €23,745,475 (€27,576,400)
Number of cars not sold: 14 (17)
Number of cars withdrawn: 1 (1)
Total number of cars: 83 (77)
Number sold: 69 (60)
Percentage cars sold by number: 83% (78%)
Percentage by value average low/high estimate: 54% (64%)
Percentage of cars met or sold below low estimate: 65% (43%)
Percentage of cars sold below avge of estimates:  83% (65%)
Percentage of cars sold met/exceeded top estimate: 9% (18%)
Average price of cars sold: €344,137 (€459,607)
Average year of cars offered: 1976 (1977)
Percentage of cars offered at No Reserve: 43% (25%)


Bonhams in Paris, 8 February 2018  Results (2017)


Total gross cars: €15,109,773 (€14,295,491)
Number of cars not sold: 33 (38)
Number of cars withdrawn: 1 (2)
Total number of cars: 136 (129)
Number sold: 103 (91)
Percentage cars sold by number: 76% (71%)
Percentage by value average low/high estimate: 52% (50%)
Percentage of cars met or sold below low estimate: 62% (73%)
Percentage of cars sold below avge of estimates:  78% (88%)
Percentage of cars sold met/exceeded top estimate: 16% (5%)
Average price of cars sold: €146,697 (€157,093)
Average year of cars offered: 1957 (1965)
Percentage of cars offered at No Reserve: 26% (19%)


Artcurial in Paris, 9-10 February 2018  Results (2017)


Total gross cars: €28,570,040 (€32,784,296)
Number of cars not sold: 34 (36)
Number of cars withdrawn: 3 (1)
Total number of cars: 175 (153)
Number sold: 141 (117)
Percentage cars sold by number: 81% (76%)
Percentage by value average low/high estimate: 45% (60%)
Percentage of cars met or sold below low estimate: 44% (47%)
Percentage of cars sold below avge of estimates:  62% (67%)
Percentage of cars sold met/exceeded top estimate: 26% (21%)
Average price of cars sold: €202,624 (€280,208)
Average year of cars offered: 1955 (1963)
Percentage of cars offered at No Reserve: 56% (43%)

With special thanks to Harley Cluxton of Hammer Price

Photos by K500/Shutterstock