Mansell mania in Monaco: RM’s €26.2m auction

Two F1 cars coming straight from the collection of former World Champion Nigel Mansell were the stars of RM’s evening sale at the Grimaldi Forum earlier today. The man known as ‘Il Leone’ in Italy was in the room to see his 1989 Ferrari 640 sold for €3.6m and ‘Red 5’, the Williams FW14 that he famously gave arch-rival Ayrton Senna a lift on at the 1991 British GP, achieving €4.1m, the top-selling car of the sale.

Although the room thinned out after the Mansell cars were sold, a number of bids were received from the floor but most came over the telephones and on the internet. The former World Champion's Ferrari 640 (below) went to a telephone bidder, and by the time the headlining Ferrari 340 MM came up the room was almost deserted. It did not sell.

The event was conducted by Dutchman Mark Grol, assisted by returnee to the RM fold, UK and EMEA chairman Peter Wallman. It was well-paced performance: no-sales quickly dispensed with; internet bids handled well.

At a glance:
 
* Gross, motor cars: €26,184,788 (2018, €22,823,075))
* Percentage sold by number: 71% (2018, 67%)
* Top-selling car: Ex-Nigel Mansell 1991 Williams FW14 €4,055,000 gross, €3,600,000 net (est. €1.5m to €3m)
* Well sold? The US-spec 1973 Ferrari Dino 246 GTS 'Chairs & Flares' that was bought for €539,375 all-in – over $560k – against an already confident estimate of €350k to €400k
* Well bought? Perhaps the 2004 Ferrari 360 Challenge that was snapped up for €89,125 incl. premium

As we saw at Bonhams the previous day, older cars from the early post-War years (Lancia Aurelia Spider America,  Delahaye 135 MS Sport Coupé*, cover-car Ferrari 340 MM) failed to fire, none of them generating serious bidding. Nor did the 2020 Ford GT ‘Carbon Series’, a recent speculators model now firmly in “how do I get out of this?” McLaren Senna and new Aston Martin Zagato territory.

The Ferrari 275 GTS was announced sold post-sale for an undisclosed amount.

Significant sales on the night (gross):

* Ex-Mansell F1 cars. A good result that proves the enduring appeal of Ferrari in F1, and the Senna era. Bonhams sold a 1993 McLaren F1 car driven by the great Brazilian for €4.2m at Monaco in 2018.

* 1990 Lamborghini Countach 25th Anniversary, €432,500. Big bucks for the ‘poor man’s Periscopica’, once again proving that interest in the model is at an all-time high.

* 1971 Lamborghini Miura SV (above), €2,480,00 (say $2.6m). Strong money for a second division SV: US spec, red, average restoration with non-correct interior, self-proclaimed ‘sperimentale’ [sic] engine.

* 2014 Mercedes-Benz SLS AMG GT ‘Final Edition’, €365,000. Like at Bonhams, another solid showing for the recent SLS, but again one not without its issues: a delivery mileage, never-registered Swiss-market car, potentially liable to additional taxes.

* 1973 Ferrari 365 GTS/4 Daytona Spider (above), €2,592,500 (say $2.7m). A fine result for a North American Daytona Spider in Europe.

* 1973 Porsche 911 Carrera RS 2.7 Lightweight, €1.287,500 (say $1.34m). Finally, an apparently good – one owner, matching numbers, tools and books – ’73 Carrera RSL comes to market, and does well. Factor in a fair bit of restoration on this one – it comes out of long-term storage.

A look at the combined figures for Bonhams and RM below shows the journey the collectors car market has made since the same auctions four years ago. The gross is the same, from 38 fewer cars, and not so many at No Reserve. Average price per car is considerably up, while fewer entries sold below low and average estimates, and more beat top. The generational shift is making itself felt but, overall, the market is in good health.

* Addendum 16 May 2022: In its official results, RM Sotheby's stated the following lots sold post-auction: 1947 Delahaye 135 MS Sport Coupé, €290,000; 1958 BMW 507 Roadster Series II, €2,030,000; 1988 Jaguar XJR-9, €1,917,500; 1969 Mercedes-Benz 280 SE Cabriolet, €120,000. All prices inclusive of buyer's premium. This raises the gross for the event to €30,544,013 at 77% sold by number.

You can download complete results sorted by make and model for this year's Monaco sales HERE.

RM Sotheby’s at Monaco, 14 May 2022 – results (2018)

Total gross cars: €26,184,788 (€22,823,075)
Number of cars not sold: 19 (28)
Number of cars withdrawn: 0 (2)
Total number of cars: 66 (86)
Number sold: 47 (58)
Percentage cars sold by number: 71% (67%)
Percentage by value average low/high estimate: 51% (48%)
Percentage of cars sold below low estimate: 40% (62%)
Percentage of cars sold not met avge of estimates: 64% (74%)
Percentage of cars sold met/exceeded top estimate: 23% (14%)
Average age of cars offered: 1980 (1978)
Average price of cars sold: €557,123 (€393,501)
Percentage of cars offered at No Reserve: 20% (31%)

Bonhams and RM Sotheby’s combined, May 2022 Monaco auctions (2018)

Total gross cars: €37,707,363 (€37,193,040)
Number of cars not sold: 28 (40)
Number of cars withdrawn: 0 (2)
Total number of cars: 101 (139)
Number sold: 73 (99)
Percentage cars sold by number: 72% (71%)
Percentage by value average low/high estimate: 53% (54%)
Percentage of cars sold below low estimate: 42% (63%)
Percentage of cars sold not met avge of estimates: 67% (79%)
Percentage of cars sold met/exceeded top estimate: 25% (11%)
Average age of cars offered: 1977 (1976)
Average price of cars sold: €516,539 (€375,687)
Percentage of cars offered at No Reserve: 26% (33%)

Photos by K500