London Calling: A return to ‘The RM Way’?

By Steve Wakefield

31st August 2016

It’s nine years since Canadian juggernaut RM hit Europe with its first London sale. In 2007 the Ecclestone Collection made the headlines, the £18m+ auction dominated by a flamboyant £3.9m 1937 Mercedes-Benz 540K Spezial Roadster. The transatlantic show was a breath of fresh air and a wake-up call to the established players in the UK.

Being the game-changer is tough: staying there is even tougher. In recent years, the quality of entries has evened out and so have the results. This September, things look different. RM’s new European MD Peter Wallman (taking over from recently departed supremo Max Girardo) is probably relieved there’s no pre-War Mercedes to shift and will be pleased with a well-rounded catalogue headed by an Aston Martin DB4 GT (pictured, below). A weak pound will see far more foreign bidders than usual.

At a glance:

• 88-car catalogue, possible £28m gross at mid-estimate
• 1960 DB4 GT and 1995 Porsche 993 GT2 the stars
• Lancia Stratos Stradale, Audi Sport Quattro, Shelby 289 Cobra, RHD pre-A 356 Speedster, two 2.7 Carrera RSs and Renault 5 Maxi Turbo add variety and quality

The very handsome grey Aston – joined by a LHD DB4 and RHD DB4 Convertible – is in a typical state of ‘road-plus’ tune, mostly by marque expert RS Williams. The estimate of £2.2m to £2.5m puts it in $3.5m territory with premium – barely one third of what’s required for a steel 250 GT SWB, a model that has struggled at auction.

The DB4 GT is one to watch. The last example sold under the hammer made $2.09m in August 2014, and Aston’s pugnacious bruiser is one of the few collectors’ cars to have appreciated since then.

Terrific Audi Sport Quattro for £290k to £320k

Expect this in Brick Lane as soon as the sale finishes

Consigning a collection is a handy way of filling up a catalogue. The downside can be substandard cars from static displays and museums, or unfashionable ones from more mature vendors wishing to settle their affairs. RM’s London sale has suffered from this in the past, so it’s good to report that the eight Porsches from one German collector are exactly what the current market craves.

At the top of the tree is a Riviera Blue 1995 993 GT2 (pictured, top), the car that many consider the ultimate Mezger-era 911. Gooding sold a Polar Silver one in March 2015 for $973.5k. Were RM’s one to sell at mid-estimate (with its 12% buyer’s premium) it will fetch $1.2m – which is by no means impossible. In blue, it has the ‘wow’ factor – like the bid that’s most likely to win it.

If sold, the RS Touring will be a bellwether for the market. Original colour would help

Big Bentley: perhaps too stuffy – and not scruffy enough – to hit the big numbers

For market-watchers, the catalogue features two average ’73 2.7 Carrera RSs, and we’ll be interested to see how the white/red Touring fares at £450k to £550k. Matching engine and smart-looking standard interior are pluses, but non-original colour (please return it to Signal Yellow) and a mild competition career in the 2000s will go against it. There’s also a restored 1957 Mercedes-Benz 300 SL Roadster (£900k to £1m) with non-original Rudge wheels in dazzling metallic strawberry...

Another collection comes from Italy, comprising six Mercedes, including several ‘Black Series’ cars and a very hip G-Wagen. By way of contrast, RM will also offer a stately 1929 Bentley 6½ Litre Sedanca de Ville by H.J. Mulliner. Sporting Bentleys bearing untouched saloon bodywork are snobbishly in vogue, although perhaps this one is just a little too staid. For those looking for a gentleman’s drawing room on wheels, it will cost you £395k to £495k.

There are no really ‘big’ 1960s Ferrari which, given the venue, is probably intentional. It will be interesting to see how the honest-looking 250 GT Pininfarina Cabriolet Series 2 (pictured, above) gets on at £1m to £1.35m. Much more ‘of the moment’ are the one-owner F40 and equally ‘first-hand’ Monteverdi coupé, a rarity at auction.

All in all, it’s a fascinating catalogue. It’s also a hefty one, to be run from 5pm onwards, so whoever’s at the rostrum will have to maintain a brisk pace to avoid the audience in the saleroom drifting away to more pressing dinner engagements. This, the reserves behind the estimates and the market’s real appetite for cars you can’t find with every dealer, will dictate the success of the auction.

We’ll be there to tell you all about it first.