The 2017 Paris Sales: RM hits €27m

By Steve Wakefield

8th February 2017

It might be a little premature to open the champagne, but if the Canadian giant’s solid performance tonight is anything to go by, the healthy sell-through rate we saw in Arizona has more or less been maintained in Paris. And even more reassuring, prices are on the up.

In Scottsdale, 73% of cars sold at or below low estimate. Tonight, that figure was 39%, and 17% beat top estimate – double the figure of only three weeks ago.

You can download a list of results, sorted by make and model HERE.

At a glance:

* €26,958,400 likely gross, RM’s best ever in Paris, 77% cars sold by number
* 1934 Alfa Romeo Tipo B top-seller at €3.5m net (est. €3.8m to €5m)
* Up: 1990s Porsches
* Down: modern Ferraris
* Sideways: solid €448,000 paid for well-restored L-series Dino 246 GT sets the bar for good, interesting-colour Dinos

There was a lot of action in the room and on the phones. Here, bidders try to snap up the No Reserve Ferrari F430 GTC. It finally sold for €410k

A good catalogue, RM’s European car auctioneer Maarten ten Holder on top form and a high proportion of cars at No Reserve did the trick for a busy, if not packed marquee in central Paris. There was much bidding in the room – proof, perhaps, of “if you build it they will come.” Who’s going to turn down a few nights away in Paris?

The prototype 917 Spyder didn’t impress us, and nor did it woo the saleroom: there were no discernible bids. The Alfa P3 sold below low estimate, but nevertheless did sell, aided perhaps by the announcement this week of a new Peter Auto-organised racing series for pre-War cars.

RM turned the clock back to last September in London when it had so much success with more recent, limited-run Porsches – a bolt of lightning that failed to strike twice in Arizona. The 1994 911 (964) Turbo S (pictured, top) set the ball rolling with a massive hammer price of €805k (est. €650 to €750k) and later in the evening a 1995 Porsche (993) Turbo Cabriolet knocked it out of the park, going for €1.2m net against its guide of €850k to €1m. That’s €1,344,000 gross, or the equivalent of $1.4m.

Still battling away at the finish. After nearly four hours the last-but-one lot finds a new owner

Casualties of the evening included a few of the modern Ferraris, such as the 599 GTO (sold post-sale) and the 550 Maranello WSR – no World Records for that tonight. The Maserati 3500 GT Vignale Spyder was poor, while the green Ferrari 275 GTB has been on the market for a while, but sold just under low estimate at €1.725m hammer. That equates to a figure of €1.932m with premium, a market-correct sum of just over $2m.

RM now hands the baton to Bonhams – we’ll be there to see who crosses the line in first place.

RM Sotheby’s in Paris, 8 February 2017 – Provisional results

Total gross cars: €26,958,400
Number of cars not sold: 18
Number of cars withdrawn: 1
Total number of cars: 77
Number sold: 59
Percentage cars sold by number: 77%
Percentage by value average low/high estimate: 63%
Number of cars met or sold below low estimate: 25
Percentage of cars met or sold below low estimate: 39%
Number of cars sold below avge of estimates: 38
Percentage of cars sold below avge of estimates: 59%
Number of cars sold above top estimate: 11
Percentage of cars sold met/exceeded top estimate: 17%
Average price of cars sold: €421,225
Average age of cars offered: 1977
Number of cars offered at No Reserve: 19
Percentage of cars offered at No Reserve: 25%

Photos by K500