The 2022 Amelia Island auctions: our expert tips

After last year’s bumper results in Florida – despite Gooding’s decision to stay away – what’s worth looking at this year? Let’s interpret the heavy ‘old school’ catalogues.
 
The Californians have come back with a bang in 2022, offering one of the most exciting cars to cross the block since the start of the pandemic: a 1937 Talbot-Lago T150-C-SS 'Goutte d’Eau' Coupé (pictured, top) estimated “in excess of $10,000,000”.
 
RM sold the last Talbot-Lago ‘teardrop’ at auction at Villa d’Este in May 2017 for €3.36m, say $3.76m on the day, and it’s changed hands again since for more. As one of only two with fully enclosed front wings it was, in effect, the sister car to chassis 90107 offered at Amelia next month. The big difference is that Gooding’s has much purer history – first owner Olympic playboy Freddy McEvoy; then famous real estate, media and car retailing heir Tommy Lee via Luigi Chinetti; latterly bequeathed to the respected Nethercutt Collection – and, most importantly, it has its original body. Graber rebodied RM’s as a cabriolet post-WW2, and the car was only correctly restored in the 2000s.
 
We asked expert on pre-War French streamlined cars, and author of several books on the subject, Richard Adatto for his opinion:
 
“It’s a great car. I have not driven it, but I know that it’s a pure, no-stories fastback ‘teardrop’ that will have people on it at $10m and above.
 
“I think it’s a model that appeals across the generations. Another plus is the fact that it has not been shown for a while. It’s last outing at Pebble Beach was 17 years ago; it’s not been over-exposed. The current owner bought it for the long term, but his plans changed. The usual collectors have one, but the demand is there from others.
 
“Would I buy it? Definitely.”

K500 seconds that, which we don’t do lightly. It may be heavy and hot to drive, and the mechanics aren’t as noble as, say, a supercharged Bugatti or Alfa, but as a piece of automotive sculpture it has few equals and its appeal is timeless. It’s our auction tip so far this year at $12-13m.

You can download a complete lot listing sorted by make and model HERE.

Bonhams at Fernandina Beach Golf Club, 3 March 2022
 
The Brits did well in 2020 and 2021 aided by bumper catalogues packed with rare Brass Era entries, generally at No Reserve and often the subject of collection envy going back decades from the legion of mature enthusiasts still with a passion for these cars in the US.
 
This year, 84 cars are on offer vs. 105 in 2021 and 116 in 2020. Leading the way is a 1955 Porsche 550 Spyder estimated at $4.5m to $5.5m. Bonhams catalogues the car with original body, suspension and transaxle, but not original engine, though it is a correct 1,498cc Type 547 four-cam from the period. Coming out of 50 years in single ownership is a plus. Originality is all with these cars; Bonhams’ estimate is strong but reflects the mood of the younger North American Porsche market in 2022: will that extend to something of this vintage? K500 office opinion is divided…
 
Another model back in the spotlight this year is the Mercedes 300 SL Roadster. Bonhams has an alloy-block, drum-brake car (pictured, above) in one-off Uranium Yellow delivered new to Princess Ashraf Pahlavi, twin sister to the Shah of Iran. Mercedes never built that combination, did they? Study the catalogue: the alloy block is a period replacement after the original iron one failed, and the radioactive colour might take some getting used to. Still, you will always find it in a car park at night. Estimate: an expensive $1.9m to $2.3m. We don’t see it there.
 
Look out for the 1954 Jaguar XK120 SE Coupé by Pinin Farina (estimate a whopping $900k to $1.3m), a stunning restoration we remember seeing at Pebble Beach in 2017. The rest of the catalogue is unremarkable with 57% at No Reserve.

Gooding at the Racquet Park, Omni Amelia Island Resort, 4 March 2022
 
The Talbot-Lago might dominate the Florida auctions next weekend, but the rest of Gooding’s catalogue is worth a look. The company’s decision to go online-only at Scottsdale this January may pay off here: the 99-car entry includes of-the-moment ’70s to ’90s and modern Porsches, plus more traditional classics worthy of a Monterey Week auction.
 
A massive one third of the catalogue is devoted to the Stuttgart marque. There’s a 1965 904/6 (rare six-cylinder car with factory history at $2.5m to $3.25m), a 1959 RSK (a tougher sell with non-matching engine for $2.5m to $3.5m) and a 1993 964 Carrera RS 3.8 Clubsport. Estimated at $1.8m to $2.4m, the latter is a one-off commission for the CEO of German gearbox giant Getrag. The increasingly dizzying valuations of these rare ‘Youngtimer’ Porsches have been the talk of the past few years. Will they continue? Is there more to it than just speculation? Does anyone actually drive them?
 
Safe auction classics include a 1967 Ferrari 330 GTS (US car new, with Ferrari Classiche Red Book for $2m to $2.4m), a 1970 Maserati Ghibli Spyder (‘small’ 4.7 engine, needing proper restoration, $700k to $800k), 1965 Ferrari 275 GTB (short-nose US car new, restoration project partially in boxes, non-matching engine, $1.3m to $1.6m) and 1959 BMW 507 Series II, an unrestored original black-with-red car plus hardtop, with six decades in single ownership estimated at $2m to $2.4m (on the money, we think).
 
Gooding also has the only F40 on offer at Amelia, a 1991 US-spec car with fewer than 3,800 miles covered from new. US spec still commands a premium here for younger cars. On older ones it’s the opposite. Estimate: $2.4m to $2.8m, in line with the $2,892,500 gross they achieved for a sub-2,500-mile, one-owner F40 at Pebble Beach last year. These haven’t been this hot since 1989.
 
Nearly half the catalogue is No Reserve.

RM Sotheby’s at the Ritz-Carlton, 5 March 2022
 
Official auction partner of the Amelia Island Concours d’Elegance – now under Hagerty ownership known as ‘The Amelia’ (which could make the new tie-up with RM’s defectors interesting) – the Canadian firm holds its usual sale in the heart of the action at the Ritz-Carlton. Compared to previous years, it’s a smaller catalogue (87 cars vs. 94 in 2021 and 136 in 2020), perhaps a reflection on today’s post-pandemic plethora of online auctions and two years of blue-chip cars sold under-the-radar by specialist dealers.
 
Heading RM’s selection this year is a 1934 Packard Twelve Individual Custom Convertible Victoria ($3.75m to $4.5m) and the catalogue lists plenty more old-school pre-War Americana of appeal to the more traditional audience that flocks to the upmarket seaside resort every March.
 
There’s only one small-block Shelby Cobra (Gooding has a 427) on offer at Amelia and RM’s 289 is a 1964 car with matching engine and continuous history at a confident $1.1m to $1.3m. RM has a 1965 Ferrari 275 GTS, inevitably presented in non-original resale red, but possibly worth returning to as-delivered Bianco over Nero, though the $1.6m to $2m estimate could make that tricky.
 
Much interest will centre on the 1994 Bugatti EB110 GT Prototype (pictured, above, at $2m to $2.5m). Two production cars were sold in Paris recently for the equivalent of just over $2m. Bugatti built various EB110 prototypes and they appear for sale on a regular basis. RM’s Amelia car did the round of press shows and functions and has been through at least one colour change in its life, also spending some time in a museum. In a region noted for its unpredictable stormy weather, the vendor will hope lightning strikes twice; this will be a test of the solidity of that market.
 
RM’s Mercedes 300 SL Roadster is a 1962 model with disc brakes, built just before the introduction of the alloy block. It has its original engine, gearbox and rear axle, but is a repaint from as ordered, but unloved today, Fire Engine Red to “wrong but safe” navy. This looks a nice restoration but it’s a hard-to-value example – RM says $1.4m to $1.7m. We’d guess the lower end, all-in.
 
Finally, DB Aston Martin owners should follow the progress of Lot 125. Against a backdrop of never-ending Middle Eastern consigned DB auction ‘projects’ offered by Bonhams at bargain basement prices – more of which will be sold at Amelia – RM has a rare LHD 1970 Aston Martin DB6 Mk 2 Vantage in at a punchy $700k to $775k. Two owners from new, many original extras and its original engine are pluses, but this is uncharted market territory for the model. We’d guess someone pays ahead of the market to own it.
 
As always, expect K500 to keep you updated with expert insight from Amelia as it happens.

2022 Amelia Island auctions at a glance:
 
Number of cars offered: 270 (2021, 205; 2020, 351)
Average year of cars offered: 1966 (2021, 1954; 2020, 1966)
Average mid-estimate price per car offered: $488k (2021, $329k; 2020, $335k)
Percentage of cars offered at No Reserve: 46% (2021, 45%; 2020, 66%)
 
Fewer cars offered at higher prices, nearly half at No Reserve and on average far more modern than the raft of ‘earlies’ presented in 2021: it’s a more attractive proposition this year and reflects the overall event’s neat split between the Brass and Great Gatsby cars on one side of the concours field and exciting ’50s, ’60s and ’70s sports and racing machinery on the other.

Amelia Island 2022 auction schedule:

You can download a complete lot listing sorted by make and model HERE.

Bonhams – Thursday 3 March. Auction at 10:00 EST. Bonhams Pavilion at the Fernandina Beach Golf Club. See www.bonhams.com

Gooding & Co – Friday 4 March. Auction at 11:00. Racquet Park, Omni Amelia Island Plantation, 6800 First Coast Hwy, Amelia Island, FL 32034 (one mile south of Amelia Island Parkway). See www.goodingco.com

RM Sotheby's – Saturday 5 March at 11:00. The Ritz-Carlton, 4750 Amelia Island Parkway, Amelia Island, Florida 32034. See www.rmsothebys.com

Photographs courtesy and strict copyright the auction houses