No surprises on day one of RM’s Techno Classica sale

Those expecting fireworks from the Youngtimer Collection – now all being offered without reserve – were, with the odd exception, in for a disappointment. Working on strictly provisional figures, a solid performance by the Canadians this afternoon grossed €6.7m.

On today’s evidence, the feeding frenzy that was the Compiano Collection offered by RM in Milan at the close of 2016 remains a one-off. Today’s sell-through of at least 78% is good, though it did benefit from 63% of the 65 cars offered at No Reserve.

Playing to a sparse but businesslike saleroom, regular auctioneer Maarten ten Holder rattled through the lots finishing almost dead on 5pm, as promised. Bravo.

Top-selling car was the elegant 1937 Mercedes-Benz 540 K Cabriolet A (below), hammered bang on low estimate at €2m, that’s €2.255m with premium, good money for an 'old school' collector's car.

The Youngtimers were a mixed bag. A mad 1988 Mercedes 560 SEC Cabriolet conversion sold for treble low estimate (€30k net, €34.5k gross). Predictably, the 560 SEC AMG 6.0 'Wide-Body' went way over guide to sell for €149.5k all-in (around $170k), but some cars such as the red, Japanese market 1999 BMW M5 trickled away at €28.75k gross against an estimate of €40k to €50k.

Of the rest, the red 300 SL Roadster sold pretty well for €893.75k (say $1m), while the No Reserve 1980 Ferrari 308 GTB proved sense has returned to the market by achieving a mid-estimate €66.125k with premium.

Germany has never been a happy hunting ground for car auctions. The impressive RM Machine put on another professional performance but, judging by today’s efforts, failed to persuade the nation to truly take the auction experience to its heart. Let's see what happens tomorrow.

At a glance (provisional):

* Gross: €6,717,400
* Percentage sold by number: 78%
* Top-selling car: 1937 Mercedes-Benz 540 K Cabriolet A, €2,255,000 gross, €2,000,000 net (est. €2m to €2.4m)
* Percentage of cars offered at No Reserve: 63%
* Average year of cars offered: 1974

Photos by K500