RM returns to Dubai and sells ‘One-Off Series’ Pagani Zonda LM Roadster for $11m

In its second visit to the Gulf state this year, RM achieved a broadly similar result to the one recorded nine months ago: 73% sold-by-number, 80% of cars bought below average estimate. Several big-ticket items, though, added $11m to the gross: $27.8m in December vs. $16.8m in March.

Non-experts might scratch their heads at the final price of the Pagani Zonda 760 LM Roadster. But it’s a ‘One-Off Series’ car – the clue is in the name – with a 7.3-litre AMG M297 engine producing 760bhp. The rest of the car exploits features developed in the limited-edition Revo and racing cars from the early 2000s. The brave of heart might wish to visit RM’s online catalogue description for further edification. “RM Sotheby’s thanks Horacio Pagani and Pagani Automobili for this catalogue description contribution” does a lot of heavy lifting here.

At a glance:

* Gross, motor cars: $27,822,825 (March 2024, $16,785,725)
* Percentage sold by number: 73% (March 2024, 73%)
* Top-selling car: 2014 Pagani Zonda 760 LM Roadster $11,086,250 gross, $9,850,000 net (est. “$12m-plus”)

The rest of the catalogue was a typical regional mix of newer Ferraris, AMG Mercedes including inevitable G-Wagens, and hypercars. The headlining Zonda 760 LM Roadster was registered in the Iberian tax haven of Andorra – expect complicated tax and registration issues on many of the entries.

Other results of note (all prices gross)

* 1966 Lamborghini 400 GT 2+2, $297,500. Grey/tan car delivered new to US before finding its way to the usual collection in Kuwait in the 2000s. Bought in Paris in February 2022 for €286,250, then the equivalent of  $326,325.
* 2022 Aston Martin Valkyrie, $2,648,750. RM sold another car earlier this year in Dubai for $3,070,625. Both were delivery mileage.
* 2014 McLaren P1, $1,186,250. Japanese market car in Volcano Orange with 3,625km recorded, maybe a few too many for some.
* 1970 Ferrari Dino 246 GT, $398,750. Original red car with Classiche certification and non-standard a/c. One of the oldest entries in the catalogue.
* 2019 McLaren Senna LM, $1,467,500. Registered in Korea, 1,024km recorded.
* 2019 Aston Martin Vanquish Zagato Shooting Brake, Not Sold – unsurprisingly.
* 2000 Mercedes-Benz CL 55 AMG 'F1 Limited Edition', $77,625. Totally mad AMG in the old tradition, essentially a road version of the safety car used in F1 races of the time. A big feature of the cars were Carbon Composite Material (CCM) brakes, a world first for road-legal production cars. Well bought.

RM Sotheby’s in Dubai, 1 December 2024 – results (March 2024)

Gross: $27,822,825 ($16,785,725)
Number of cars not sold: 11 (6)
Number of cars withdrawn: 1 (0)
Total number of cars: 41 (22)
Number sold: 30 (16)
Percentage cars sold by number: 73% (73%)
Percentage by value average low/high estimate: 69% (80%)
Percentage of cars met or sold below low estimate: 53% (63%)
Percentage of cars sold below avge of estimates: 80% (81%)
Percentage of cars sold met/exceeded top estimate: 10% (13%)
Average age of cars offered: 1999 (2003)
Average price of cars sold: $927,428 ($1,049,108)
Percentage of cars offered at No Reserve: 37% (9%)

Photo by RM Sotheby’s