The Market


Monterey 2021: $34.4m for the Paul Andrews Estate Collection

Monterey 2021: $34.4m for the Paul Andrews Estate Collection 13th August 2021

Led by the $9.5m Aston Martin DB4 GT Zagato, working on provisional figures RM kicked off the first day of this year’s Monterey Week sales with a bumper $34.4m event that sold all but one of the 26 cars offered.

The sole non-seller in the busy but not packed ballroom of the Portola was the 1955 Jaguar D-type. The British car was one of only five cars with a reserve, and a less-than-perfect history made it stall on the night.

At a glance (provisional):

* Gross: $34,438,500
* Percentage sold by number: 96%
* Top-selling car: 1962 Aston Martin DB4 GT Zagato $9,520,000 gross $8,650,000 net (est. $11m to $14m)
* Well sold? Another Aston, the superb RS Williams-restored 1965 DB5 Convertible, a LHD car selling way over its $1.85m to $2.25m guide for $3,195,000 all-in
* Well bought? The DB4 GT Zagato: buy of the evening
* One to take away? Maybe the $252k gross Mille-Miglia-eligible 1957 Alfa Romeo Giulietta Sprint Veloce Alleggerita

The Thursday evening catalogue was dominated by Aston Martin. The DB4 GT Zagato has been traded many times over the years, a car with somewhat showy styling at odds with the lightweight ethos of the Milanese coachbuilder. At an all-in price of $9.5m, that puts it around the figure bid (but declined by the vendor) for a similar car at Gooding’s Hampton Court sale last year. A rough euro conversion prices this one, ‘the heavy car’, at €8.1m.

Of the other Astons, the LHD Lightweight DB4 GT (above) sold for $3,855,000, the LHD DB5 Saloon for $912,500, and the homely DB2/4 Drophead Coupé by Bertone for $1,022,500. The latter was bought only this January for $968k and had been sold in August 2017 for $1.4m. All prices gross. The Sanction II Zagato went $500k under low estimate for $2,755,000 with premium.

The small run of four ‘Sanctioned’ Aston Zagatos from the early 1990s set the trend for today’s ‘Continuation’ cars from Aston Martin and Jaguar. The Lightweight E-type sold this evening was one such, probably costing ca.$1.85m ex-factory new. Bought at the Elkhart Collection sale in October 2020 for $1.985m gross, it sold for $1,050,000 some 10 months later.

So, a solid start to three days of Monterey sales, with serious bids on cars that deserve to sell. Friday, with three separate sales and fewer entries at No Reserve, will be a bigger test.

RM Sotheby’s in Monterey, 12 August 2021, provisional results

Gross: $34,438,500
Number of cars not sold: 1
Number of cars withdrawn: 0
Total number of cars: 26
Number sold: 25
Percentage of cars sold by number: 96%
Percentage of cars met or sold below low estimate: 40%
Percentage of cars sold below avge of estimates: 52%
Percentage of cars sold met/exceeded top estimate: 28%
Average price of cars sold: $1,377,540
Average year of cars offered: 1960
Percentage of cars offered at No Reserve: 81%

With thanks to Hammer Price

Photos by K500