The Market


Miura P400 S and ‘Daytona’ lead the way at Artcurial’s October 2022 Paris sale

Miura P400 S and ‘Daytona’ lead the way at Artcurial’s October 2022 Paris sale 17th October 2022

During an entertaining afternoon at the company’s Paris Champs-Elysées HQ, Matthieu Lamoure, Maître Hervé Poulain and Pierre Novikoff sold nearly eight of ten cars in the catalogue, a feat that grossed some €7.2m.

The busy saleroom witnessed the much-anticipated sale of a 1969 Miura P400 S out of single family ownership since 1974. The red car was not strictly a restoration project, though may well be returned to white/blue as collected by Italian food industrialist Bruno Zanetti in 1969. Nearly €1.4m plus perhaps €350k for restoration brings this one into line with other cars sold this year. Note, however, the presence of an ‘SOS’ engine – the way the factory marked replacement motors with original numbers often made early in a car’s life.

At a glance:

* Gross, motor cars: $20,441,212
* Percentage sold by number: 78% (2021, 73%)
* Top-selling car: 1969 Lamborghini Miura P400 S €1,380,000 gross, €1,200,000 net (est. €900k to €1.4m)
* Well sold? As the cleaner flexed her broom and the lights were just about to be turned off, the last lot of the day delivered a €191,400 all-in 1974 VW Combi T1 1600 ’23-window’. Estimate: €50k to €70k
* Well bought? The No Reserve 1970 Mercedes-Benz 280 SE 3.5-litre Cabriolet that sold for €174,000 gross

The other big figure was €846,800 (with Artcurial’s 16% premium) for the nice 1974 Ferrari 365 GTB/4 ‘Daytona (top). Estimated at €650k to €850k, the lovely Verde Medio Metallizzato Ferrari was a French market car new and benefitted from work done by Bonini in Italy. Other than a ‘Plexi’ nose and perhaps a slightly better done interior, this is what the market wants today. Compare this result with the swathe of US-spec red Daytonas running on sparkly Borranis more frequently offered at auction. And generally heading home unsold.

Other results of note (all prices gross):

* 1995 Renault Clio Williams, €71,920. Car in very good condition and 31,000km covered from new.
* 1996 Ferrari 512 ‘Modificata’, €353,800. Sold on lower estimate.
* 1973 Ferrari Dino 246 GTS, €429,200. The Dino GTS bandwagon rolls on – Euro car, Blu Scuro Dino with a beige leatherette new, ‘restored’ to red in US with tan/black imitation ‘Daytona’ seats.
* 1972 BMW 3.0L CS/CSL Gp5 Replica, Not Sold. Great tribute to one of the 1976 semi-works cars but unwanted at €200k to €300k.

Artcurial in Paris, 16 October 2022 – results (2021)

Gross: €7,220,020 (€5,440,400)
Number of cars not sold: 18 (26)
Number of cars withdrawn: 0 (2)
Total number of cars: 81 (95)
Number sold: 63 (69)
Percentage cars sold by number: 78% (73%)
Percentage by value average low/high estimate: 70% (55%)
Percentage of cars sold below low estimate: 38% (46%)
Percentage of cars sold not met avge of estimates: 83% (83%)
Percentage of cars sold met/exceeded top estimate: 8% (10%)
Average year of cars offered: 1977 (1973)
Average price of cars sold: €114,603 (€78,846)
Percentage of cars offered at No Reserve: 32% (47%)

Photo by Artcurial