Five things to take away from the 2019 Amelia Island sales

Five things to take away from the 2019 Amelia Island sales 11th March 2019

The Amelia Island Concours d’Elegance: run so well and with such passion by Bill Warner, it’s everyone’s favourite. The Amelia auctions, meanwhile, have always been one step below Monterey Week in importance but in 2019, a year when we saw Scottsdale return to its blue-collar roots, the Florida sales looked different too. Here's our take.

1.    It’s a family affair. Imagine in 30 years’ time, the children of car-obsessed parents remembering the days of travelling in the back of Pop’s paint-to-sample Porsche 911 GT3 with rare side-script delete and no a/c. Mom was in the front as usual with the coffee and sandwiches, the family off for another adventure in the old man’s pride and joy. It’s not going to happen.

But this is the pioneering spirit that’s always engaged Brass Era collectors, maintaining that enthusiasm into older age. Values of the very earliest cars have slipped, but the right one can still generate big bucks. Like their owners, there’s life in them yet.

2.    The good. On the day, at Amelia, the right pre-War car for old-school US collectors, the bigger and shinier the better, proved a hit. Youngtimers, too: RM again did well with wide-bodied Mercedes and BMWs. Even a 1994 Toyota Supra Twin Turbo sold for $173,600.

3.    The bad. Life for nothing-special 1960s and ’70s Italian sports cars has got harder. A red Dino needs a lot going for it to sell well. The gulf between “my guy did it the way I wanted” 300 SLs, and highly original barn-finds or meticulously restored cars by the best in the business, is widening.

4.    The ugly. While the market for recent, limited-edition Porsche 911s remains firm, for many of the older rubber- and chrome-bumper cars this weekend’s seen a correction. Both 1973 2.7 Carrera RSs will return to sender. Ditto V8 Ferraris, which saw THE bargain of the event, Gooding’s silver, US-spec 308 GTB Vetroresina sold for $109.76k all-in.

5.    Ah yes, I remember it well. When was the last time you witnessed three or four determined bidders fighting to the death at auction? We did at RM on Friday, when the 1931 Rolls-Royce Phantom II Henley Roadster finally went to a new home nearly $200k over top estimate. The days of barn-find Astons and 1960s V12 Ferraris generating this sort of interest seem a long time ago.

Finally, spare a thought for blow-ins from Arizona, Russo and Steele. Setting up camp opposite Bonhams, on Day Two of its sale only six of the 76 cars offered sold. And you think you’ve had a hard day at the office.

Next stop Bonhams at the Goodwood Members’ Meeting (more oldies) and RM in Essen, where it will be a Youngtimerfest. Will lightning strike twice? We’ll be there to tell you all about it.

You can download a list of results, sorted by make and model, HERE.

The Amelia Island auctions 2019 – Bonhams, Gooding and RM combined (2018)

Gross: $75,844,480 ($76,500,739)
Number of cars not sold: 51 (33)
Number of cars withdrawn: 4 (4)
Total number of cars: 338 (290)
Number sold: 287 (257)
Percentage of cars sold by number: 85% (89%)
Percentage by value average low/high estimate: 55% (61%)
Percentage of cars met or sold below low estimate: 69% (68%)
Percentage of cars sold below avge of estimates: 82% (83%)
Percentage of cars sold met/exceeded top estimate: 12% (11%)
Average price of cars sold: $264,266 ($297,668)
Average year of cars offered: 1965 (1967)
Percentage of cars offered at No Reserve: 62% (57%)

Top 10 cars at Amelia Island 2019 by value

1. RM 1965 Ferrari 275 GTB $2,205,000
2. RM 1966 Shelby 427 Cobra $1,792,500
3. Gooding 1930 Packard 734 Speedster Runabout $1,765,000
4. RM 1930 Duesenberg Model J 'Sweep Panel' Dual-Cowl Phaeton by LeBaron $1,650,000
5. RM 2010 Bugatti Veyron 16.4 'Sang Noir' $1,500,000
6. RM 2015 McLaren P1 $1,490,000
7. Gooding 2015 Porsche 918 Spyder Weissach $1,490,000
8. RM 1926 Hispano-Suiza H6B Cabriolet Le Dandy by Chapron $1,352,500
9. RM 1934 Packard Twelve Individual Custom Convertible Sedan by Dietrich $1,325,000
10. Gooding 1965 Ferrari 275 GTS $1,325,000

Bonhams at Amelia Island, 7 March 2019 – Results (2018)

Gross: $15,752,460 ($13,000,969)
Number of cars not sold: 16 (14)
Number of cars withdrawn: 1 (3)
Total number of cars: 108 (101)
Number sold: 92 (87)
Percentage of cars sold by number: 85% (86%)
Percentage by value average low/high estimate: 60% (53%)
Percentage of cars met or sold below low estimate: 72% (71%)
Percentage of cars sold below avge of estimates: 85% (85%)
Percentage of cars sold met/exceeded top estimate: 8% (10%)
Average price of cars sold: $145,856 ($128,722)
Average year of cars offered: 1950 (1965)
Percentage of cars offered at No Reserve: 65% (53%)

Gooding at Amelia Island, 8 March 2019 – Results (2018)

Gross: $21,822,980 ($35,937,250)
Number of cars not sold: 12 (4)
Number of cars withdrawn: 2 (1)
Total number of cars: 89 (87)
Number sold: 77 (83)
Percentage of cars sold by number: 87% (95%)
Percentage by value average low/high estimate: 57% (60%)
Percentage of cars met or sold below low estimate: 74% (70%)
Percentage of cars sold below avge of estimates: 86% (87%)
Percentage of cars sold met/exceeded top estimate: 8% (7%)
Average price of cars sold: $283,415 ($432,979)
Average year of cars offered: 1979 (1973)
Percentage of cars offered at No Reserve: 66% (62%)

RM Sotheby’s at Amelia Island, 8-9 March 2019 – Results (2018)

Gross: $38,269,040 ($27,539,720)
Number of cars not sold: 23 (15)
Number of cars withdrawn: 1 (0)
Total number of cars: 141 (102)
Number sold: 118 (87)
Percentage of cars sold by number: 84% (85%)
Percentage by value average low/high estimate: 53% (66%)
Percentage of cars met or sold below low estimate: 63% (62%)
Percentage of cars sold below avge of estimates: 76% (78%)
Percentage of cars sold met/exceeded top estimate: 14% (14%)
Average price of cars sold: $324,314 ($316,549)
Average year of cars offered: 1966 (1962)
Percentage of cars offered at No Reserve: 55% (55%)

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