Scottsdale 2020: Bonhams’ $8.3m+ auction
Working on provisional but published figures, Bonhams topped the $8m mark earlier today at a sell-through-by-number (before post-auction sales) of 81%.
The gross was just over half that achieved in 2019.
At a glance:
* Gross: $8,349,720 (2019, $16,015,560)
* Percentage sold by number: 81% (2019, 89%)
* Top-selling car: 1951 Ferrari 212 Inter Cabriolet by Vignale $1,930,000 gross, $1,750,000 net (est. $2m to $2.4m)
* Well sold? The early ’50s Ferrari
* Well bought? A canny East Coast dealer picked up the excellent restored Jaguar XK120 Roadster with disc wheels and spats for $95,200 all-in
* One to take away? The XK120
Starting at 11am prompt, auctioneers James Knight and Rupert Banner shared duties at the rostrum, with the final lot sold just after 4.30pm. The saleroom remained busy throughout and, like preview day yesterday, comprised mainly North American clients.
The headlining Alfa Romeo 8C 2300, hitherto ‘Refer Dept.’, was offered with a guide price of $11m to $13m. Knight ended proceedings on it at a declared $8.7m, a figure that should have bought the car. It will return to the care of its Far East owner.
Bidding on the Ferrari 212 Cabriolet started in the low $1ms and ended at $1.75m. That’s $1.93m with premium, a loss of some $300k from its purchase price in 2014, but a realistic value for the model in January 2020, as we forecast yesterday.
With the majority of the catalogue at No Reserve, the final figures were always going to be relatively positive. Significant non-sellers on the day included the BMW 328 and the 1973 Porsche Carrera RS 2.7. The 1955 Lancia Aurelia B24S Spider America was sold away from the block as the auction was conducted, under estimate at $863,000 gross.
Bonhams at Scottsdale, 16 January 2020 (2019)
Gross: $8,349,720 ($16,015,560)
Number of cars not sold: 21 (13)
Number of cars withdrawn: 2 (0)
Total number of cars: 110 (120)
Number sold: 89 (107)
Percentage cars sold by number: 81% (89%)
Percentage by value average low/high estimate: 24% (46%)
Percentage of cars met or sold below low estimate: 76% (76%)
Percentage of cars sold below avge of estimates: 88% (88%)
Percentage of cars sold met/exceeded top estimate: 4% (5%)
Average value of cars sold: $75,907 ($133,463)
Average year of cars offered: 1963 (1968)
Percentage of cars offered at No Reserve: 68% (80%)
Photos by K500
January 2020 Scottsdale Auction Schedule:
Click here for a complete lot listing sorted by make and model
Barrett-Jackson – event from Saturday 11 January to Sunday 19 January. Sales from Monday 13 January to Sunday 19 January. Gates open at 08:00. 16601 N. Pima Rd, Scottsdale, AZ 85260. See www.barrett-jackson.com
Leake – sales Thursday 16 January to Sunday 19 January. Gates open at 08:00. Event address: Salt River Fields, 7555 N. Pima Rd, Scottsdale, AZ 852585. See www.leakecar.com
Russo & Steele – sales Thursday 16 January to Sunday 19 January. Gates open at 09:00. Event address: 101 Freeway and Scottsdale Road, 18601 N Scottsdale Road, Scottsdale, AZ 85255. See www.russoandsteele.com
RM Auctions – sales Thursday 16 January and Friday 17 January. Auctions at 17:30. Arizona Biltmore Resort & Spa, 2400 East Missouri Avenue, Phoenix, AZ 85016. See www.rmsothebys.com
Gooding & Co – sales Friday 17 January and Saturday 18 January. Auctions at 11:00. Scottsdale Fashion Square, 4700 N. Scottsdale Road, corner of N. Scottsdale Road and E. Highland Ave, Scottsdale, AZ 85251. See www.goodingco.com