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RM in Milan day two: the beat goes on

RM in Milan day two: the beat goes on 26th November 2016

The second part of RM’s three-day marathon did not come as such a shock to the system after the sensational results of the day before.

However, no sooner did the pace of the auction cool a little than the hammer price of the very next lot often sent the saleroom into rounds of enthusiastic applause.

The difference today was that buyers knew the estimates could be disregarded and few could come reasonably expecting a bargain. It was all a matter of exactly by how much the pre-sale guide would be beaten.

Milan is a long way from the coast, but it was sardine-time again
Milan is a long way from the coast, but it was sardine-time again

For motor cars alone, the results – 145 lots we list with premium by make and model – totalled €24,526,432. So, over two days, RM has grossed over €36m on motor cars alone.

Key points:

* €24,526,432 gross
* All but 19 cars sold above top estimate, only four failed to meet lower estimate
* Top-selling car the 1966 Ferrari 275 GTB/6C Alloy (€2.4m to €2.8m) hammered at €3.05m, €3.416k with premium. Say $3.6m at today’s rates.
* Surprise of the day undoubtedly the 2004 Maserati MC12 achieving €3,024,000 all-in, that’s around $3.2m, a world record
* Lancia B20 with several entries on the original Mille Miglia – not catalogued as such – sells for €336,000; the power of research

The alloy, ‘torque-tube’, six-carb Ferrari 275 GTB long-nose sold well. Factor in restoration costs that will be more than merely a colour change, and the market prices this as a four-million-dollar car. That’s double a regular two-cam and far more than a four-cam. Strong money.

Barn-find 1: €78.4k Alfa Romeo 6C 2500. Well, most of it, that is...
Barn-find 1: €78.4k Alfa Romeo 6C 2500. Well, most of it, that is...
Barn-find 2: Lovely Fiat Balilla with Aerodynamica coachwork. Sold for €179.2k
Barn-find 2: Lovely Fiat Balilla with Aerodynamica coachwork. Sold for €179.2k

Bidding on the MC12 just went on and on, sailing into the stratosphere to eventually find a fixed orbit at a hammer price of €2.7m. Depending on whether they have one to sell, the trade saw this as either “the price they should have been all along”, or “just crazy!” As we’ve said before, let’s see another one move on at this level before we come to too many conclusions. Following this result, expect to see an MC12 cross the block any time soon, at least by Monterey week.

Competition cars did well, despite their scruffy appearance, though buyers had to do their research. A racing car with a roll-cage and a sunroof; really? The more clued-up bought some genuinely interesting ones that included an ex-European Touring Car Championship Ford Sierra Cosworth.

Lancia-Ferrari LC2 scorched into the distance to sell for €851,200 all-in
Lancia-Ferrari LC2 scorched into the distance to sell for €851,200 all-in

The ex-Mille Miglia Lancia B20 followed the strong result for another former MM car, the 1953 Alfa Romeo 1900 C Sprint Touring sold on Friday. You had to do the research yourself as RM kept catalogue descriptions to a minimum, as befitted a ‘pile ’em high’, No Reserve event with everything sold ‘as is, and where is’. In other words: you’re on your own.

And, like yesterday, many buyers could have bought a better car at a cheaper price from the many sellers at the Milano Autoclassica held in the same halls. But that would be spoiling the thrill of the chase.

Can they do it all again tomorrow? We wouldn’t bet against it.

For provisional results of RM Sotheby's in Milan, Friday 25 November and Saturday 26 November 2016 with approximate USD conversion, please CLICK HERE.

Photos by K500

'Miura', the offshore power boat, sells for €112k with premium
'Miura', the offshore power boat, sells for €112k with premium