The Market

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Paris Rétromobile 2024: the reckoning

Paris Rétromobile 2024: the reckoning 7th February 2024

It was one of the busiest shows we can remember, with significant cars sold off the trade stands and a better-than-expected auction conducted by RM on day one, though later in the week the results at local firm Artcurial were particularly disappointing, despite some cars finding new owners post-event.

Over 130,000 visitors enjoyed the best classic car show in the world. Looking at the stats, the sell-through at the three auctions was slightly up on last year, but the combined gross was down due to fewer cars offered and some high-value entries failing to sell on the day. In general, it was a familiar and similar story to 2023: around half the cars offered were bought below low estimate and 13%-14% sold above upper. Roughly 50 per cent of the entries in at No Reserve helped the sell-through, and the profusion of pre-War at Bonhams and Artcurial in this category dropped the average year from 1974 to 1973.

Next stop the early March Florida auctions, which will have a new look for 2024. Canadian giant RM has decamped to Miami, leaving (relatively) new firm Broad Arrow, Hagerty-owned and embedded in the also Hagerty-owned Amelia Island concours in northern Florida, together with Bonhams and Gooding. The latter traditionally does well at Amelia; it will be fascinating to see how RM’s decision to up sticks southwards affects its own business and the Californians’. Full preview to come on K500 before pre-event cocktails are shaken in the Sunshine State.

You can download a complete list of results of all cars offered by Artcurial, Bonhams and RM Sotheby’s sorted by make and model HERE.

2024 Paris Rétromobile auctions, RM Sotheby’s Bonhams and Artcurial combined (2023)

Gross: €65,399,926 (€112,358,299)
Number of cars not sold: 63 (111)
Number of cars withdrawn: 5 (8)
Total number of cars: 297 (451)
Number sold: 234 (340)
Percentage cars sold by number: 79% (75%)
Percentage by value average low/high estimate: 44% (58%)
Percentage of cars met or sold below low estimate: 53% (51%)
Percentage of cars sold below avge of estimates: 76% (76%)
Percentage of cars sold met/exceeded top estimate: 14% (13%)
Average price of cars sold: €220,202 (€249,131)
Average year of cars offered: 1973 (1974)
Percentage of cars offered at No Reserve: 49% (45%)

February 2024 Paris Rétromobile auctions, Top 10 cars sold by value

1. RM 1960 Ferrari 250 GT SWB Berlinetta Competizione €10,158,125
2. Bonhams 2004 Ferrari Enzo €3,910,000
3. RM 1966 Ferrari 275 GTB/6C Alloy €3,211,250
4. RM 2007 Maserati MC12 Versione Corsa €3,042,500
5. RM 2021 Koenigsegg Regera €2,423,750
6. Artcurial 1955 Mercedes-Benz 300 SL 'Gullwing' €1,427,440
7. Artcurial 2014 McLaren P1 €1,358,800
8. RM 2015 McLaren P1 €1,017,500
9. Artcurial 1980 BMW M1 Procar €988,320
10. Bonhams 1969 Lamborghini Miura P400 S €954,500
 
Total value of top 10 sales in Paris in 2024: €28,492,185, -3% on 2023 (€29,487,075). Average age of Top 10 sales 2024: 1989 (2023, 1981).

RM Sotheby’s in Paris, 31 January 2024 – results (2023)

Total gross cars: €34,437,101 (€50,441,600)
Number of cars not sold: 13 (19)
Number of cars withdrawn: 2 (2)
Total number of cars: 73 (85)
Number sold: 60 (66)
Percentage cars sold by number: 82% (78%)
Percentage by value average low/high estimate: 55% (74%)
Percentage of cars sold below low estimate: 38% (68%)
Percentage of cars sold not met avge of estimates: 73% (88%)
Percentage of cars sold met/exceeded top estimate: 17% (6%)
Average value of cars sold: €573,952 (€764,267)
Average year of cars offered: 1982 (1977)
Percentage of cars offered at No Reserve: 49% (22%)

Bonhams in Paris, 1 February 2024 – results (2023)

Total gross cars: €15,119,625 (€28,579,899)
Number of cars not sold: 14 (32)
Number of cars withdrawn: 1 (3)
Total number of cars: 95 (142)
Number sold: 81 (110)
Percentage cars sold by number: 85% (77%)
Percentage by value average low/high estimate: 60% (56%)
Percentage of cars sold below low estimate: 58% (49%)
Percentage of cars sold not met avge of estimates: 71% (70%)
Percentage of cars sold met/exceeded top estimate: 14% (14%)
Average value of cars sold: €184,662 (€259,817)
Average year of cars offered: 1967 (1971)
Percentage of cars offered at No Reserve: 57% (48%)

Artcurial at Rétromobile Paris, 2 February 2024 – results (2023)

Total gross cars: €15,843,200 (€33,336,800)
Number of cars not sold: 36 (58)
Number of cars withdrawn: 2 (3)
Total number of cars: 129 (198)
Number sold: 93 (140)
Percentage cars sold by number: 72% (71%)
Percentage by value average low/high estimate: 26% (45%)
Percentage of cars sold below low estimate: 58% (49%)
Percentage of cars sold not met avge of estimates: 84% (79%)
Percentage of cars sold met/exceeded top estimate: 8% (14%)
Average value of cars sold: €170,357 (€238,120)
Average year of cars offered: 1971 (1973)
Percentage of cars offered at No Reserve: 43% (59%)

All prices include buyer’s premium.

Photos by K500