Records were broken at all three of Amelia Island Concours collectible car auctions on the weekend, with a 1960 Ferrari 400 Superamerica SWB Cabriolet fetching US$6,380,000 to become one of the top 100 cars ever sold at auction.
RM Sotheby’s was the official auctioneer for the Concours, and reported bidders hailing from no fewer than 22 countries, of which 22 percent were new to the company.
There were plenty of indications that the market remains strong, including 23 cars selling for more than $1,000,000 (RM-Sothebys 13, Gooding seven and Bonhams three), and $101 million worth of cars sold in three days (RM-Sothebys $60.4m, Gooding $26.9m, Bonhams $13.9m) – both records. It was Bonhams' first Amelia sale, but the amount of money in the marketplace is clearly still growing, as last year the combined RM and Gooding & Co results totaled $66.9 million – roughly a 50 percent increase in car sales in one year.
Further testimony to the buoyancy of the market was the exceptionally high sell-through rates with Bonhams reporting 78 percent (65 from 83), Gooding 89 percent (76 from 85) and with the largest and official RM-Sotheby's sale returning a 98 percent sell-through rate (99 from 101), the entire week's sell-through finished at 89.2 percent, with 43.7 percent more cars sold this year than last.
Yet another indication of the strength of the market can be gauged by comparisons with the average car price in 2014 with 2015 ($418,862 in 2015 compared with $402,777 in 2014) and robustness of the top ten Amelia Island sales of 2014 with 2015.
Top 10 cars sold at Amelia Island – 2014
1 – 1937 Delahaye 135 Competition Roadster sold for $6,600,000 (RM)
2 – 1968 Porsche 907 Longtail Coupe sold for $3,630,000 (Gooding)
3 – 1959 Porsche 718 RSK Spyder sold for $3,300,000 (Gooding)
4 – 1955 Ferrari 250 Europa GT Coupe sold for $2,530,000 (Gooding)
5 – 1958 BMW 507 Roadster sold for $2,420,000 (RM)
6 – 1964 Mercedes-Benz 300SL Roadster sold for $2,035,000 (Gooding)
7 – 1957 Mercedes-Benz 300SL Roadster sold for $1,842,500 (RM)
8 – 1958 BMW 507 Roadster sold for $1,815,000 (Gooding)
9 – 1961 Ferrari 250 GT Series 2 Cabriolet sold for $1,760,000 (RM)
10 – 1934 Duesenberg Model SJ Convertible sold for $1,567,500 (RM)
Top 10 cars sold at Amelia Island – 2015
1 – 1960 Ferrari 400 Superamerica SWB Cabriolet sold for $6,380,000 (RM)
2 – 1955 Jaguar D-Type sold for $3,675,000 (RM)
3 – 1967 Ferrari 275 GTB/4 sold for $3,300,000 (Gooding)
4 – 1972 Ferrari 365 GTB/4 Daytona Spider sold for $3,300,000 (RM)
5 – 1935 Mercedes-Benz 500/540 K Cabriolet A sold for $3,025,000 (RM)
6 – 1931 Alfa Romeo 6C 1750 Gran Sport Spider sold for $2,420,000 (RM)
7 – 1938 Bugatti Type 57C Aravis Cabriolet sold for $2,337,500 (RM)
8 – 1971 Lamborghini Miura SV sold for $2,310,000 (RM)
9 – 1988 Jaguar XJR-9 sold for $2,145,000 (RM)
10 – 1967 Shelby 427 'Semi-Competition' Cobra sold for $2,117,500 (RM)
Some people spoke of cars selling towards the bottom of their estimate range, but estimates are set based on marketplace expectations and when viewed against previous auction results for the last few years, the classic car market remains in ruddy health.
The Maserati 200SI fails to sell
The Maserati 200 SI failed to sell, being the "star attraction" at the Gooding & Company sale. This car was the first Maserati 200S produced, and was driven by Sir Stirling Moss, Jean Behra, Guiseppe Musso, Luigi Bellucci and Piero Taruffi, so along with the Ferrari 400 Superamerica Cabriolet above, the Maserati was a headliner, further enhanced by the presence of Moss on stage for the Gooding & Co auction.
The facts are that the same car was sold by the same auction house for $2,640,000 less than five years ago, and bidding on the car went to $4.7 million, (actually more than $5 million including buyers premium) but failed to meet reserve. The vendor had the opportunity to sell the 59-year-old car for double its purchase price after owning it for less than five years, but chose not to. In my mind, that's an indication that the vendor has tested the market and sees further growth coming. There are those who disagree with this opinion.
"Who do you think you are, Stirling Moss?"
Eighty-five-year-old Sir Stirling Craufurd Moss last raced more than half a century ago, but his legacy was on display in all it's glory at the Amelia Island Concours d'Elegance.
The above question was the standard question asked by policemen when they pulled over a driver anywhere in the British Commonwealth for several decades. Moss was one of the first media celebrity drivers, something commonplace today but a novelty back in the fifties and sixties.
Astonishingly, all those cars behind Sir Stirling are cars he raced during his career. Often referred to as the greatest driver never to win a world title, Moss was runner-up in the F1 Drivers' Championship in 1955, 1956, 1957 and 1958, then third in 1959, 1960 and 1961.
Sir Stirling's story is a cracker, and well worth reading. We've included many of Sir Stirling's former cars in the photo gallery of the event.
1960 Ferrari 400 Superamerica Cabriolet fetches $6,380,000 to go "Top100"
As we forecast, top sale honors for the Amelia Island Concours d’Elegance week went to the 1960 Ferrari 400 Superamerica SWB Cabriolet which fetched $6,380,000 to comfortably set a new world record for the model at auction. Proceeds from car’s sale will benefit the consignor’s charity for the education of children.
(Photo: Somer Hooker/Gizmag.com)
This matching-numbers (engine and chassis) 1960 Ferrari 400 Superamerica SWB Cabriolet is rare, and had just completed a no-expense-spared restoration by marque experts.
2 – 1955 Jaguar D-Type
Estimated: $3,750,000 - $4,250,000
Sold for: $3,675,000
Official Auction Page
This D-Type has a remarkable story verified by tracing its components through two racing cars and back together again. The story is worth a read. This car has been ice-racing (successfully at that), is the only Jaguar D-Type ever to race in the Soviet Union (at the 1961 Leningrad Grand Prix where it won the Formula Libre class), was owned for many years by Swedish Davis Cup (tennis) player Curt Lincoln, and its restoration to nut-and-bolt authenticity was documented in a five-part feature series in Jaguar World Monthly magazine between December 2002 and September 2003. The absolute real deal.
3 – 1967 Ferrari 275 GTB/4
Official Auction Page
Estimated: $3,400,000 - $3,800,000
Sold for: $3,300,000
Official Auction Page
Not quite a barn find, but close, this 1967 Ferrari 275 GTB/4 has been owned by the same family for 43 years and was last registered for road use in 1982. It is hence a wonderfully original example of a significant Ferrari model of which fewer than 300 were built.
The 3.3 liter V-12 of the 275 GTB/4 was the final development of the Colombo-designed engine, and though only producing a modest boost in peak power to 300 horsepower, the quad cam engine was significantly stronger across the range. The GTB also wore spectacular Pininfarina-designed Scaglietti coachwork closely and purposely modeled by Pininfarina upon the all-conquering 250 GTO.
4 – 1972 Ferrari 365 GTB/4 Daytona Spider by Scaglietti
Estimated: $3,000,000 - $3,500,000
Sold for: $3,300,000
5 – 1935 Mercedes-Benz 500/540 K Cabriolet A by Sindelfingen
Estimated: $2,900,000 - $3,500,000
Sold for: $3,025,000
6 – 1931 Alfa Romeo 6C 1750 Gran Sport Spider by Zagato
Official Auction Page
Estimated: $2,300,000 - $2,600,000
Sold for: $2,420,000
7 – 1938 Bugatti Type 57C Aravis Cabriolet by Gangloff
Estimated: $2,500,000 - $3,250,000
Sold for: $2,337,500
Official Auction Page
8 – 1971 Lamborghini Miura SV
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $2,250,000 - $2,750,000
Sold for: $2,310,000
9 – 1988 Jaguar XJR-9
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $3,000,000 - $5,000,000
Sold for: $2,145,000
Official Auction PageWe expected this car to feature a little higher up the sales ladder at Amelia Island than eighth. The 670 bhp racing Jaguar V12 has an exceptional racing provenance including numerous podiums (top three finishes) in major endurance events and a win in the 1990 Daytona 24 Hour race. The remaining example of two purpose-built, IMSA-specification XJR-9s ever built.
10 – 1967 Shelby 427 'Semi-Competition' Cobra
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $2,200,000 - $2,500,000
Sold for: $2,117,500
11 – 1961 Ferrari 250 GT Series II Cabriolet
Official Auction Page
Estimated: $2,000,000 - $2,500,000
Sold for: $2,090,000
Official Auction Page
12 – 1932 Stutz DV-32 Super Bearcat Convertible
Estimated: $850,000 - $1,200,000
Sold for: $1,760,000
13 – 1930 Cord Model L-29 Town Car
Official Auction Page
Estimated: Available Upon Request
Sold for: $1,760,000
14 – 1908 American Underslung 50HP Roadster
Official Auction Page
Estimated: $1,100,000 - $1,200,000
Sold for: $1,738,000
15 – 1991 Ferrari F40
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $1,600,000 - $1,800,000
Sold for: $1,622,500
16 – 1953 Ferrari 212 Europa Coupe by Vignale
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $2,000,000 - $2,500,000
Sold for: $1,550,000
17 – 1963 Mercedes-Benz 300 SL Roadster
Official Auction Page
Estimated: $1,600,000 - $2,000,000
Sold for: $1,275,000
18 – 1957 Mercedes-Benz 300 SL Roadster
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $1,300,000 - $1,600,000
Sold for: $1,237,500
19 – 1974 Porsche 911 Carrera 3.0 RSR
Official Auction Page
Estimated: $1,200,000 - $1,500,000
Sold for: $1,237,500
20 – 2011 Ferrari 599 SA Aperta
Official Auction Page
Estimated: $900,000 - $1,100,000
Sold for: $1,155,000
21 – 1930 Duesenberg Model J 'Sweep Panel' Dual-Cowl Phaeton by LeBaron
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $1,200,000 - $1,400,000
Sold for: $1,155,000
Official Auction Page
22 – 1956 Mercedes-Benz 300 Sc Cabriolet
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $1,100,000 - $1,300,000
Sold for: $1,100,000
23 – 1955 Austin-Healey 100S
Official Auction Page
Estimated: $975,000 - $1,375,000
Sold for: $1,012,000
Honorable Mentions
1963 Shelby 289 Cobra
Official Auction Page
Estimated: $950,000 - $1,150,000
Sold for: $990,000
1938 Delahaye 135 MS Coupe by Figoni et Falaschi
Official Auction Page
Estimated: $1,100,000 - $1,600,000
Sold for: $990,000
1996 Porsche 993 GT2
Official Auction Page
Estimated: $950,000 - $1,250,000
Sold for: $973,500
1961 Mercedes-Benz 300 SL Roadster
Official Auction Page
Estimated: $1,100,000 - $1,300,000
Sold for: $962,500
Official Auction Page
1967 Ferrari 330 GTC
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $900,000 - $1,100,000
Sold for: $935,000
1967 Ferrari 330 GTC by Pininfarina
Official Auction Page
Sold for: $907,500
1973 Porsche 911 Carrera RS 2.7 Touring
Official Auction Page
Estimated: $775,000 - $975,000
Sold for: $891,000
1968 Toyota 2000GT
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $900,000 - $1,100,000
Sold for: $880,000
1932 Lincoln KB Custom Stationary Coupe
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $800,000 - $1,000,000
Sold for: $836,000
1970 Maserati Ghibli 4.7 Spyder by Ghia
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $750,000 - $900,000
Sold for: $797,500
1930 Rolls-Royce Phantom I Transformal Phaeton
Official Auction Page
Estimated: $700,000 - $1,000,000
Sold for: $742,500
Ferrari 330 P2 Junior Child’s Car by De La Chappelle
and sold for $66,125
Official Auction Page
Estimated: $10,000 - $20,000
Sold for: $66,125
1958 Volkswagen Beetle Sedan
Official Auction Page
(Photo: Somer Hooker/Gizmag.com)
Estimated: $35,000 - $45,000
Sold for: $26,400
1981 BMW M1 Coupe
Estimated: $400,000 - $450,000
Sold for: $605,000
Official Auction PageThe collectible cars of the seventies and eighties are beginning to emerge as Generation X begins to flex its financial muscle and the BMW M1 Coupe appears likely for rapid appreciation in coming years.
1970 Nissan Fairlady Z 432
(Photo: Somer Hooker/Gizmag.com)
Estimated: $150,000 - $200,000
Sold for: $253,000
Editor's Note: Our sincere thanks to Somer Hooker who stepped in at the last moment to provide many of the images and much of the wisdom of this article, all at the same time as showing his beloved Vincent in the Concours, winning a best in class award, and trying to land a car in the auctions.